This document discusses entrepreneurial qualities and competitive advantage. It begins by listing 17 qualities of successful entrepreneurs, such as commitment, creativity, and problem-solving skills. It then profiles entrepreneurs like Colonel Sanders, Donald Trump, and Henry Ford who overcame multiple failures. Next, it describes Phil Knight's perseverance in founding Nike after graduating business school. Finally, it outlines Porter's model of competitive advantage, discussing factors like differentiation, cost, and focus strategies. It provides examples of how Tesla and Apple leverage research, branding, and design to maintain competitive edges in their industries.
TemplateP 10-04NameSectionEnter the appropriate amount or item i.docxmattinsonjanel
TemplateP 10-04Name:Section:Enter the appropriate amount or item in the shaded cells. Use the drop-down lists when available.An asterisk (*) will appear next to an incorrect entry in the outlined cells.Leave no cell blank. Ensure to enter "0" wherever applicable. Round PV factors to three decimal places.1.a.Net present value methodYearNet Cash Inflows012% Factor=Present Value0000=00000=00000=00000=00000=0Total present value0Less purchase price of machine0Net present value0b.Accounting Rate of Return=000Average Annual Net IncomeAverage Annual Cash inflows=000Average Investment CostTotal Investment=0Residual Valuec.Payback period methodTotal cash investment0Less cash flow recovery:Year000000000Unrecovered investment0Payback period is0years2.Net present value0Accounting rate of return0Payback period0years
Enter as a negative value.
Round answer to one decimal place. Ignore "%" in your response. Example "25.6"
Round answer to one decimal place.
Enter as a negative value.
Round answer to one decimal place. Ignore "%" in your response. Example "25.6"
Round answer to one decimal place.
Enter all amounts as positive values in this column.
Enter as a negative value.
Solution
P 24-04_SolName:SOLUTIONSection:Enter the appropriate amount or item in the shaded cells. Use the drop-down lists when available.An asterisk (*) will appear next to an incorrect entry in the outlined cells.Leave no cell blank. Ensure to enter "0" wherever applicable. Round PV factors to three decimal places.1.a.Net present value methodYearNet Cash Inflowsx12% Factor=Present Value1$ 75,000x0.893=$ 66,975270,000x0.797=55,790365,000x0.712=46,280460,000x0.636=38,160425,000x0.636=15,900Total present value$ 223,105Less purchase price of machine250,000Net present value$ (26,895)b.Accounting Rate of Return=Average Annual Net Income/Average Investment CostAverage Annual Net IncomeAverage Annual Cash inflows=$ 11,250/$ 137,500Average Investment CostTotal Investment=8.2%Residual Valuec.Payback period methodTotal cash investment$ 250,000Less cash flow recovery:Year1$ 75,000270,000365,000440,000(250,000)Unrecovered investment0Payback period is3.7years2.Net present value$ (26,895)Accounting rate of return8.2%Payback period3.7years
Round answer to one decimal place. Ignore "%" in your response. Example "25.6"
Enter as a negative value.
Round answer to one decimal place.
Enter as a negative value.
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Enter all amounts as positive values in this column.
Enter as a negative value.
Schroeder, R. G., Goldstein, S. M., & Rungusanatham, M. J. (2013). Operations management in the supply chain: Decisions and cases (6th ed.). New York, NY: McGraw-Hill/Irwin.
If the products sell extremely well, we will
build more in season, and will be back on the
shelves in a few weeks. And we'll build even
more, and even more, and even more, in that
same season. We're not going to wait ...
CHAPTER 2 . THE BUSINESS VISION AND MISSION 53TABLE 2-4 Ex.docxcravennichole326
CHAPTER 2 . THE BUSINESS VISION AND MISSION 53
TABLE 2-4 Examples of the Nine Essential Components of a Mission Statement
'l . Customers
We believe our first responsibility is to the doctors, nurses, patients, mothers, and all others who use our products and services.
(Johnson & Johnson)
To eam our customers' loyalty, we listen to them, anticipate their needs, and act to create value in their eyes. (Lexmark International)
2. Products or Services
AMAX's principal products are molybdenum, coal, iron ore, copper, lead, zinc, petroleum and natural gas, potash, phosphates,
nickel, tungsten, silver, gold, and magnesium. (AMAX Engineering Company)
Standard Oil Company (Indiana) is in business to find and produce crude oil, natural gas, and natural gas liquids; to manufacture
high-quality products useful to society from these raw materials; and to distribute and market those products and to provide dependable
related services to the consuming public at reasonable prices. (Standard Oil Company)
3. Markets
We are dedicated to the total success of Coming Glass Works as a worldwide competitor. (Corning Glass Works)
Our emphasis is on North American markets, although global opportunities will be explored. (Blockway)
4. Technology
Control Data is in the business of applying micro-electronics and computer technology in two general areas: computer-related hardware;
and computing-enhancing services, which include computation, information, education, and finance. (Control Data)
We will continually strive to meet the preferences of adult smokers by developing technologies that have the potential to reduce the
health risks associated with smoking. (RJ Reynolds)
5. Concern for Survival, Growth, and Profitability
In this respect, the company will conduct its operations prudently and will provide the profits and growth which will assure Hoover's
ultimate success. (Hoover Universal)
To serve the worldwide need for knowledge at a fair profit by adhering, evaluating, producing, and distributing valuable information
in a way that benefits our customers, employees, other investors, and our society. (McGraw-Hill)
5. Philosophy
r&u world-class leadership is dedicated to a management philosophy that holds people above profits. (Kellogg)
ft's all part of the Mary Kay philosophy-a philosophy based on the golden rule. A spirit of sharing and caring where people give
deerfully of their time, knowledge, and experience. (Mary Kay Cosmetics)
7. Self-Concept
Crown Zellerbach is committed to leapfrogging ongoing competition within 1,000 days by unleashing the constructive and creative
*itities and energies of each of its employees. (Crown Zellerbach)
& Concern for Public lmage
To share the world's obligation for the protection of the environment. (Dow Chemical)
To contribute to the economic strength of society and function as a good corporate citizen on a local, state, and national basis in all
mrntries in which we do business. (Pfizer)
9- Concern for Employees
Io recrui ...
Case Study Crocs Revolutionizing an Industry’s Supply Chain .docxcowinhelen
Case Study Crocs: Revolutionizing an Industry’s Supply Chain Model for
Competitive Advantage
If the products sell extremely well, we will
build more in season, and will be back on the
shelves in a few weeks. And we’ll build even
more, and even more, and even more, in that
same season. We’re not going to wait with a
hot new product until next year, when hope-
fully the same trend is alive.
—Ronald Snyder, CEO of Crocs, Inc.1
On May 3, 2007, Crocs, Inc. released its results for the
first quarter of the year. The footwear company,
which had sold its first shoes in 2003, reported reve-
nues of $142 million for the quarter, more than three
times its sales for the first quarter of 2006. Net in-
come, at $0.61 per share was more than 17 percent
of sales, nearly four times higher than the previous
year.2 These results far exceeded market expecta-
tions, which had been for earnings of $0.49 per share
on $114 million of revenue.3 As part of the earnings
release, the company announced a two-for-one stock
split. Immediately after the announcement, the stock
price jumped 15 percent.
The growth and profitability of Crocs, which made
funky, brightly colored shoes using an extremely com-
fortable plastic material, had been astounding. Much
of this growth had been made possible by a highly
flexible supply chain which enabled the company to
build additional product to fulfill new orders quickly
within the selling season, allowing it to respond to un-
expectedly high demand—a capability that was previ-
ously unheard of in the footwear industry. This ability
to fulfill the needs of retailers also made the company
a very popular supplier to shoe sellers.
This success also raised questions about how
the company should grow in the future. Should it
vertically integrate or grow through product line
extension? Should it grow organically or through ac-
quisition? Would potential growth paths exploit
Crocs’ core competencies or defocus them?
CROCS, INC.
In 2002, three friends from Boulder, Colorado went
sailing in the Caribbean. One brought a pair of foam
clog shoes that he had bought from a company in
Canada. The clogs were made from a special mate-
rial that did not slip on wet boat decks, was easy
to wash, prevented odor, and was extremely com-
fortable. The three, Lyndon “Duke” Hanson, Scott
Seamans, and George Boedecker, decided to start a
business selling these Canadian shoes to sailing en-
thusiasts out of a leased warehouse in Florida, as
Hanson said, “so we could work when we went on
sailing trips there.”4 The founders wanted to name
the shoes something that captured the amphibious
nature of the product. Since “Alligator” had already
been taken, they chose to name the shoes “Crocs.”
The shoes were an immediate success, and word
of mouth expanded the customer base to a wide
range of people who spent much of their days stand-
ing, such as doctors and gardeners. In October 2003,
as the business began to grow, th.
TemplateP 10-04NameSectionEnter the appropriate amount or item i.docxmattinsonjanel
TemplateP 10-04Name:Section:Enter the appropriate amount or item in the shaded cells. Use the drop-down lists when available.An asterisk (*) will appear next to an incorrect entry in the outlined cells.Leave no cell blank. Ensure to enter "0" wherever applicable. Round PV factors to three decimal places.1.a.Net present value methodYearNet Cash Inflows012% Factor=Present Value0000=00000=00000=00000=00000=0Total present value0Less purchase price of machine0Net present value0b.Accounting Rate of Return=000Average Annual Net IncomeAverage Annual Cash inflows=000Average Investment CostTotal Investment=0Residual Valuec.Payback period methodTotal cash investment0Less cash flow recovery:Year000000000Unrecovered investment0Payback period is0years2.Net present value0Accounting rate of return0Payback period0years
Enter as a negative value.
Round answer to one decimal place. Ignore "%" in your response. Example "25.6"
Round answer to one decimal place.
Enter as a negative value.
Round answer to one decimal place. Ignore "%" in your response. Example "25.6"
Round answer to one decimal place.
Enter all amounts as positive values in this column.
Enter as a negative value.
Solution
P 24-04_SolName:SOLUTIONSection:Enter the appropriate amount or item in the shaded cells. Use the drop-down lists when available.An asterisk (*) will appear next to an incorrect entry in the outlined cells.Leave no cell blank. Ensure to enter "0" wherever applicable. Round PV factors to three decimal places.1.a.Net present value methodYearNet Cash Inflowsx12% Factor=Present Value1$ 75,000x0.893=$ 66,975270,000x0.797=55,790365,000x0.712=46,280460,000x0.636=38,160425,000x0.636=15,900Total present value$ 223,105Less purchase price of machine250,000Net present value$ (26,895)b.Accounting Rate of Return=Average Annual Net Income/Average Investment CostAverage Annual Net IncomeAverage Annual Cash inflows=$ 11,250/$ 137,500Average Investment CostTotal Investment=8.2%Residual Valuec.Payback period methodTotal cash investment$ 250,000Less cash flow recovery:Year1$ 75,000270,000365,000440,000(250,000)Unrecovered investment0Payback period is3.7years2.Net present value$ (26,895)Accounting rate of return8.2%Payback period3.7years
Round answer to one decimal place. Ignore "%" in your response. Example "25.6"
Enter as a negative value.
Round answer to one decimal place.
Enter as a negative value.
Round answer to one decimal place. Ignore "%" in your response. Example "25.6"
Round answer to one decimal place.
Enter all amounts as positive values in this column.
Enter as a negative value.
Schroeder, R. G., Goldstein, S. M., & Rungusanatham, M. J. (2013). Operations management in the supply chain: Decisions and cases (6th ed.). New York, NY: McGraw-Hill/Irwin.
If the products sell extremely well, we will
build more in season, and will be back on the
shelves in a few weeks. And we'll build even
more, and even more, and even more, in that
same season. We're not going to wait ...
CHAPTER 2 . THE BUSINESS VISION AND MISSION 53TABLE 2-4 Ex.docxcravennichole326
CHAPTER 2 . THE BUSINESS VISION AND MISSION 53
TABLE 2-4 Examples of the Nine Essential Components of a Mission Statement
'l . Customers
We believe our first responsibility is to the doctors, nurses, patients, mothers, and all others who use our products and services.
(Johnson & Johnson)
To eam our customers' loyalty, we listen to them, anticipate their needs, and act to create value in their eyes. (Lexmark International)
2. Products or Services
AMAX's principal products are molybdenum, coal, iron ore, copper, lead, zinc, petroleum and natural gas, potash, phosphates,
nickel, tungsten, silver, gold, and magnesium. (AMAX Engineering Company)
Standard Oil Company (Indiana) is in business to find and produce crude oil, natural gas, and natural gas liquids; to manufacture
high-quality products useful to society from these raw materials; and to distribute and market those products and to provide dependable
related services to the consuming public at reasonable prices. (Standard Oil Company)
3. Markets
We are dedicated to the total success of Coming Glass Works as a worldwide competitor. (Corning Glass Works)
Our emphasis is on North American markets, although global opportunities will be explored. (Blockway)
4. Technology
Control Data is in the business of applying micro-electronics and computer technology in two general areas: computer-related hardware;
and computing-enhancing services, which include computation, information, education, and finance. (Control Data)
We will continually strive to meet the preferences of adult smokers by developing technologies that have the potential to reduce the
health risks associated with smoking. (RJ Reynolds)
5. Concern for Survival, Growth, and Profitability
In this respect, the company will conduct its operations prudently and will provide the profits and growth which will assure Hoover's
ultimate success. (Hoover Universal)
To serve the worldwide need for knowledge at a fair profit by adhering, evaluating, producing, and distributing valuable information
in a way that benefits our customers, employees, other investors, and our society. (McGraw-Hill)
5. Philosophy
r&u world-class leadership is dedicated to a management philosophy that holds people above profits. (Kellogg)
ft's all part of the Mary Kay philosophy-a philosophy based on the golden rule. A spirit of sharing and caring where people give
deerfully of their time, knowledge, and experience. (Mary Kay Cosmetics)
7. Self-Concept
Crown Zellerbach is committed to leapfrogging ongoing competition within 1,000 days by unleashing the constructive and creative
*itities and energies of each of its employees. (Crown Zellerbach)
& Concern for Public lmage
To share the world's obligation for the protection of the environment. (Dow Chemical)
To contribute to the economic strength of society and function as a good corporate citizen on a local, state, and national basis in all
mrntries in which we do business. (Pfizer)
9- Concern for Employees
Io recrui ...
Case Study Crocs Revolutionizing an Industry’s Supply Chain .docxcowinhelen
Case Study Crocs: Revolutionizing an Industry’s Supply Chain Model for
Competitive Advantage
If the products sell extremely well, we will
build more in season, and will be back on the
shelves in a few weeks. And we’ll build even
more, and even more, and even more, in that
same season. We’re not going to wait with a
hot new product until next year, when hope-
fully the same trend is alive.
—Ronald Snyder, CEO of Crocs, Inc.1
On May 3, 2007, Crocs, Inc. released its results for the
first quarter of the year. The footwear company,
which had sold its first shoes in 2003, reported reve-
nues of $142 million for the quarter, more than three
times its sales for the first quarter of 2006. Net in-
come, at $0.61 per share was more than 17 percent
of sales, nearly four times higher than the previous
year.2 These results far exceeded market expecta-
tions, which had been for earnings of $0.49 per share
on $114 million of revenue.3 As part of the earnings
release, the company announced a two-for-one stock
split. Immediately after the announcement, the stock
price jumped 15 percent.
The growth and profitability of Crocs, which made
funky, brightly colored shoes using an extremely com-
fortable plastic material, had been astounding. Much
of this growth had been made possible by a highly
flexible supply chain which enabled the company to
build additional product to fulfill new orders quickly
within the selling season, allowing it to respond to un-
expectedly high demand—a capability that was previ-
ously unheard of in the footwear industry. This ability
to fulfill the needs of retailers also made the company
a very popular supplier to shoe sellers.
This success also raised questions about how
the company should grow in the future. Should it
vertically integrate or grow through product line
extension? Should it grow organically or through ac-
quisition? Would potential growth paths exploit
Crocs’ core competencies or defocus them?
CROCS, INC.
In 2002, three friends from Boulder, Colorado went
sailing in the Caribbean. One brought a pair of foam
clog shoes that he had bought from a company in
Canada. The clogs were made from a special mate-
rial that did not slip on wet boat decks, was easy
to wash, prevented odor, and was extremely com-
fortable. The three, Lyndon “Duke” Hanson, Scott
Seamans, and George Boedecker, decided to start a
business selling these Canadian shoes to sailing en-
thusiasts out of a leased warehouse in Florida, as
Hanson said, “so we could work when we went on
sailing trips there.”4 The founders wanted to name
the shoes something that captured the amphibious
nature of the product. Since “Alligator” had already
been taken, they chose to name the shoes “Crocs.”
The shoes were an immediate success, and word
of mouth expanded the customer base to a wide
range of people who spent much of their days stand-
ing, such as doctors and gardeners. In October 2003,
as the business began to grow, th.
Warren Buffett says his guiding principle is to “be fearful when others are greedy and greedy when others are fearful.” There’s certainly plenty of fear out there, and thus plenty of opportunities to get greedy. Greed, however, does not necessarily translate into wealth.
In “Beyond Fear and Greed: Capitalizing on Opportunities in the Current Crisis,” we draw on our two years of research into more than 2,500 major corporate failures and our related consulting work to describe the landmines that companies are mostly like to hit as they try to capitalize on the turmoil that has roiled many markets since the summer of 2008. We also lay out a process for stress testing new business strategies, ensuring that greed does not send you down the wrong path and increasing the chances that you’ll pick a highly prosperous road.
1st peer post 1.) The practice of using a nonviolent approach.docxaulasnilda
1st peer post :
1.) The practice of using a nonviolent approach for resistance and protest during the civil rights movement was key. The reason this was vital, is mainly because it sent a powerful message to the world, in that the violence was being administered by the oppressors and not the oppressed. If the oppressed had exhibited violence it would have taken the focus away from the issues they were fighting for (Drawing attention to the injustices during the Jim Crow era) and instead focused on violence. Although it took many years, the nonviolent movement proved to be successful.
2.) A few obvious civil rights issues are that of Police Brutality and Systematic Racism, consisting of a number of issues directly related to racism and oppression in the black community. The issue of unarmed black men and women being three times more likely to be killed by a police officer is one that has quickly gained more attention, mostly because people are able to record these incidents on their smart phones and post them to the internet for not only the US, but for the world to see. This issue has plagued the black community for far too long. Racism in the black community has created issues such as food desserts, lack of proper health care, and redlining. Lastly, human trafficking is also an issue that does not get enough attention. While there are tactics from the civil rights movement that can be used today, such as peaceful nonviolent marches, and organized social movements, I think that some things have changed in terms of what we are fighting for, and being that it is a different time, I’m not sure most of those strategies could be used to solve our modern day problems.
2nd peer post:
1. I think the values of using theses tactics was them showing the higher up people that had the ability to change that its effecting lots of people and showing them that people can come together as one to fight for what they believe in. Sit ins and court cases helped them be able to present themselves and show there knowledge and give their opinions and help bring attention to things and people that were being mistreated. I think it was a good approach to use to show people its another way, sometimes I think when something is going bad or someone is doing negative things you have to be the bigger person and show them the other side maybe it can open them up to something that they were missing.
2. Its some much discrimination going on in todays society that I don't know what to point out of where to start honestly. The Botham Jean's case is a big case I think that was a discrimination case just the story sounds fishy and a bold face lie. A innocent man was killed in his own home and she only got 10 years serving in the state and she will not even serve even half the time . I am a right for wrong type of person and she was totally wrong and out of place. I think that a lot of people with color and people who are experiencing discrimination are educating themse ...
Buku ini memberikan cara baru untuk melihat branding B2B bahkan bagi manager bisnis yang berpengalaman. Memberikan studi kasus yang telah terbukti mampu menghidupkan manajemen brand B2B
This is the preliminary questions of the quiz conducted by team Vanicom, Pondicherry University for the national level intercollegiate quiz competition, City of Dawn which was one of the events for our Intercollegiate Commerce Fest, Vanicom
Warren Buffett says his guiding principle is to “be fearful when others are greedy and greedy when others are fearful.” There’s certainly plenty of fear out there, and thus plenty of opportunities to get greedy. Greed, however, does not necessarily translate into wealth.
In “Beyond Fear and Greed: Capitalizing on Opportunities in the Current Crisis,” we draw on our two years of research into more than 2,500 major corporate failures and our related consulting work to describe the landmines that companies are mostly like to hit as they try to capitalize on the turmoil that has roiled many markets since the summer of 2008. We also lay out a process for stress testing new business strategies, ensuring that greed does not send you down the wrong path and increasing the chances that you’ll pick a highly prosperous road.
1st peer post 1.) The practice of using a nonviolent approach.docxaulasnilda
1st peer post :
1.) The practice of using a nonviolent approach for resistance and protest during the civil rights movement was key. The reason this was vital, is mainly because it sent a powerful message to the world, in that the violence was being administered by the oppressors and not the oppressed. If the oppressed had exhibited violence it would have taken the focus away from the issues they were fighting for (Drawing attention to the injustices during the Jim Crow era) and instead focused on violence. Although it took many years, the nonviolent movement proved to be successful.
2.) A few obvious civil rights issues are that of Police Brutality and Systematic Racism, consisting of a number of issues directly related to racism and oppression in the black community. The issue of unarmed black men and women being three times more likely to be killed by a police officer is one that has quickly gained more attention, mostly because people are able to record these incidents on their smart phones and post them to the internet for not only the US, but for the world to see. This issue has plagued the black community for far too long. Racism in the black community has created issues such as food desserts, lack of proper health care, and redlining. Lastly, human trafficking is also an issue that does not get enough attention. While there are tactics from the civil rights movement that can be used today, such as peaceful nonviolent marches, and organized social movements, I think that some things have changed in terms of what we are fighting for, and being that it is a different time, I’m not sure most of those strategies could be used to solve our modern day problems.
2nd peer post:
1. I think the values of using theses tactics was them showing the higher up people that had the ability to change that its effecting lots of people and showing them that people can come together as one to fight for what they believe in. Sit ins and court cases helped them be able to present themselves and show there knowledge and give their opinions and help bring attention to things and people that were being mistreated. I think it was a good approach to use to show people its another way, sometimes I think when something is going bad or someone is doing negative things you have to be the bigger person and show them the other side maybe it can open them up to something that they were missing.
2. Its some much discrimination going on in todays society that I don't know what to point out of where to start honestly. The Botham Jean's case is a big case I think that was a discrimination case just the story sounds fishy and a bold face lie. A innocent man was killed in his own home and she only got 10 years serving in the state and she will not even serve even half the time . I am a right for wrong type of person and she was totally wrong and out of place. I think that a lot of people with color and people who are experiencing discrimination are educating themse ...
Buku ini memberikan cara baru untuk melihat branding B2B bahkan bagi manager bisnis yang berpengalaman. Memberikan studi kasus yang telah terbukti mampu menghidupkan manajemen brand B2B
This is the preliminary questions of the quiz conducted by team Vanicom, Pondicherry University for the national level intercollegiate quiz competition, City of Dawn which was one of the events for our Intercollegiate Commerce Fest, Vanicom
Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI.
Specific ServPoints should be tailored for restaurants in all food service segments. Your ServPoints should be the centerpiece of brand delivery training (guest service) and align with your brand position and marketing initiatives, especially in high-labor-cost conditions.
408-784-7371
Foodservice Consulting + Design
The case study discusses the potential of drone delivery and the challenges that need to be addressed before it becomes widespread.
Key takeaways:
Drone delivery is in its early stages: Amazon's trial in the UK demonstrates the potential for faster deliveries, but it's still limited by regulations and technology.
Regulations are a major hurdle: Safety concerns around drone collisions with airplanes and people have led to restrictions on flight height and location.
Other challenges exist: Who will use drone delivery the most? Is it cost-effective compared to traditional delivery trucks?
Discussion questions:
Managerial challenges: Integrating drones requires planning for new infrastructure, training staff, and navigating regulations. There are also marketing and recruitment considerations specific to this technology.
External forces vary by country: Regulations, consumer acceptance, and infrastructure all differ between countries.
Demographics matter: Younger generations might be more receptive to drone delivery, while older populations might have concerns.
Stakeholders for Amazon: Customers, regulators, aviation authorities, and competitors are all stakeholders. Regulators likely hold the greatest influence as they determine the feasibility of drone delivery.
The Team Member and Guest Experience - Lead and Take Care of your restaurant team. They are the people closest to and delivering Hospitality to your paying Guests!
Make the call, and we can assist you.
408-784-7371
Foodservice Consulting + Design
Senior Project and Engineering Leader Jim Smith.pdfJim Smith
I am a Project and Engineering Leader with extensive experience as a Business Operations Leader, Technical Project Manager, Engineering Manager and Operations Experience for Domestic and International companies such as Electrolux, Carrier, and Deutz. I have developed new products using Stage Gate development/MS Project/JIRA, for the pro-duction of Medical Equipment, Large Commercial Refrigeration Systems, Appliances, HVAC, and Diesel engines.
My experience includes:
Managed customized engineered refrigeration system projects with high voltage power panels from quote to ship, coordinating actions between electrical engineering, mechanical design and application engineering, purchasing, production, test, quality assurance and field installation. Managed projects $25k to $1M per project; 4-8 per month. (Hussmann refrigeration)
Successfully developed the $15-20M yearly corporate capital strategy for manufacturing, with the Executive Team and key stakeholders. Created project scope and specifications, business case, ROI, managed project plans with key personnel for nine consumer product manufacturing and distribution sites; to support the company’s strategic sales plan.
Over 15 years of experience managing and developing cost improvement projects with key Stakeholders, site Manufacturing Engineers, Mechanical Engineers, Maintenance, and facility support personnel to optimize pro-duction operations, safety, EHS, and new product development. (BioLab, Deutz, Caire)
Experience working as a Technical Manager developing new products with chemical engineers and packaging engineers to enhance and reduce the cost of retail products. I have led the activities of multiple engineering groups with diverse backgrounds.
Great experience managing the product development of products which utilize complex electrical controls, high voltage power panels, product testing, and commissioning.
Created project scope, business case, ROI for multiple capital projects to support electrotechnical assembly and CPG goods. Identified project cost, risk, success criteria, and performed equipment qualifications. (Carrier, Electrolux, Biolab, Price, Hussmann)
Created detailed projects plans using MS Project, Gant charts in excel, and updated new product development in Jira for stakeholders and project team members including critical path.
Great knowledge of ISO9001, NFPA, OSHA regulations.
User level knowledge of MRP/SAP, MS Project, Powerpoint, Visio, Mastercontrol, JIRA, Power BI and Tableau.
I appreciate your consideration, and look forward to discussing this role with you, and how I can lead your company’s growth and profitability. I can be contacted via LinkedIn via phone or E Mail.
Jim Smith
678-993-7195
jimsmith30024@gmail.com
1. MB 301 ENTREPRENEURSHIP &
PROJECT MANAGEMENT
LECTURE 6&7
Qualities of a prospective Entrepreneur & Factors determining
competitive advantage
PROF. KRISHNA ROY
PROF. KRISHNA ROY, FMS, BCREC 1
2. Qualities of a prospective Entrepreneur
The qualities of a successful
entrepreneur are:-
1. Commitment and Perseverance
2. Discipline and Determination to
Achieve
3. Self-Confidence and Optimism
4. Tolerance for Failure
5. Opportunity Orientation
6. Initiative and ability to shoulder
Responsibility
7. Persistent Problem Solving skills
8. High Energy Levels and Intensity of
Purpose
9. Strong Interpersonal Skills and
Team-Building Abilities
10. Creativity and Innovation
11. Ability to Learn from Experience
12. Ability to Marshal Resources
13. Ability to Organize and Administer
15. Control over situations
16. Never Give Up attitude
17. Acceptance of Work-Life Imbalance
PROF. KRISHNA ROY, FMS, BCREC 2
Successful entrepreneurs are characterized by an unusual alertness; a propensity of
risk taking and a strong desire for achievement.
3. Men who were not afraid of failure
• Colonel Harland Sanders (KFC):
Best known as the man donning a beard and
big glasses in the Kentucky Fried Chicken
(KFC) logo, Colonel Sanders was fired from
a dozen jobs before he started KFC. It was in
1967, at the age of 65, that the Colonel found
himself broke and out of business. He
wound up living in his car and driving to
over 1,000 restaurants trying to sell his
chicken recipe, asking a nickel commission
on each chicken. It was at the age of 75 that
Colonel Sanders finally sold his chicken
restaurant business for a full $15m.
Although the Colonel did not find fame
before he died at the age of 90, his legacy
continued through the KFC logo.
• Donald Trump (Trump
Organization):
Well-known entrepreneur Donald Trump
established the Trump Organization in 1980
to oversee his real estates. However, in
1990, partly due to the recession hitting
many of his projects and excessive
leveraging, Trump found himself in a
corporate debt of $9bn. Had it not been for
the bailout pact of some 70 banks, the
company would not have survived. This is
not the end of the story, as Trump’s
business didn’t almost fail once, but twice.
Following closely behind the first debacle,
Trump managed to obtain a personal debt
of $1bn. Both times, Trump managed to
make the most of what he had at his
disposal and made it back to the top.
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4. Men who were not afraid of failure
• Henry Ford (Ford Motor Co.):
Henry Ford’s first venture, the Detroit
Automobile Company, went bankrupt in
1901 due to its high prices and low quality
products. Rather than give up, Ford
reorganized his first company to set up a
new one, named Henry Ford Company. It,
too, collapsed due to a dispute with a
partner. Upon his third attempt, he almost
faced failure yet again because the low sales
he achieved made it impossible to pay back
his investors. Moments before his yet-to-
become empire collapsed, the company was
saved by angel investors. Hence, Ford Motor
Co. was born.
Henry Ford once said, ‘failure is the
opportunity to begin again more
intelligently’.
• Walt Disney (Disney):
Since his youth, Walt Disney wanted to be a
newspaper cartoonist, but he found himself constantly
rejected. A reporter once told him that he ‘lacked
imagination and had no good ideas’. After Disney
founded his first cartoon studio at the age of 22, a bad
business deal left the company bankrupt. This led to a
trip to Los Angeles. All he had with him was a suitcase
that contained a shirt, two undershorts, two pairs of
socks and some drawing material. His attempt to
become an actor never came true, but he founded
Disney Studios with his brother Roy. During World
War II, the United States army took over Disney
Studios as a repair shop for tanks and artillery. His
animators were all sent to war, including Disney. The
company ended up with a debt of more than $4m as
business after the war was slow. Although they had
started distributing in Europe, Walt and Roy were
having problems getting finance to the USA. So, they
started producing feature films overseas.
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5. Men with perseverance and problem solving attitude
Phil Knight and the Story of Nike:
Philip H Knight is the most powerful person in sports’. He is the co-founder and current Chairman of the Board for
Nike, Inc. He attended the Stanford Graduate School of Business to obtain his degree in Master of Business
Administration. It was in a business class that Knight discovered he had a passion other than athletics, and that
was as an entrepreneur. His instructor, Frank Shallenberger, had assigned him to write a business plan on
something he enjoyed and knew about. That assignment led to the inspiration for Knight to form a company selling
shoes to athletes. His paper, titled, ‘Can Japanese Sports Shoes do to German Sports Shoes what Japanese Cameras
did to German Cameras?’ was directed at answering the question whether a shoe could be designed and
manufactured for less cost with better quality than the current leader in athletic shoes, Adidas.His paper inspired
him to such an extent that after graduating from Stanford with an MBA in 1962, Knight actually put his fictitious
work into practice by flying to Japan and meeting with executives of Onitsuka Tiger Co, a manufacturer of Adidas
knockoffs. He told the Tiger executives that he was the head of Blue Ribbon Sports (a fictitious company he created
to convince Tiger that he was a serious buyer), and that he wanted to distribute their shoes in the United States.
Tiger officials agreed to send him samples after Knight convinced them he would place a large order once he was
able to show the samples to his partners (also fictitious).Upon returning to the United States, Knight borrowed
$500 from his father to pay for the samples and start up his business. Shortly thereafter, he received the samples
and immediately sent a few pairs to his former coach Bill Bowerman in the hopes that coach Bowerman would buy
them and help promote the shoes to his athletes. Instead, Bowerman offered to put up $500 and join Knight as a
partner in this new venture. The two new partners officially formed Blue Ribbon Sports in 1964, purchased 200
pairs of shoes from Tiger, and began selling them to athletes at track meets throughout the Oregon and
Washington region. Knight had to maintain his job as an accountant while selling shoes. However, by 1969, he was
able to leave his job and begin working full-time for Blue Ribbon Sports. In 1971, with sales exceeding $3 million,
Knight decided to break with Tiger and start designing his own line of shoes named Nike . Knight commissioned
Portland State art student Carolyn Davis to create the ‘swoosh’ logo as Bowerman designed the waffle sole for
better traction. The new Nike shoe debuted in 1972. Utilizing sports figures to promote his shoes, Knight embarked
on an advertising campaign that included the likes of John McEnroe, and later, Michael Jordan. Sales flourished
tremendously and in December 1981 the company was officially named Nike, Inc. By 1986, Nike sales hit a
tremendous $1 billion, becoming the number one selling shoe in the world.
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6. Factors determining competitive advantage
Porter’s Model for ensuring competitive advantage in business
1. Product Differentiation through offer of higher quality product or service,
creation of distinctive branding, investment in intelligent marketing
strategies. A business must stay ahead of industry trends and constantly
adapt their offerings to suit a dynamic market.
2. Cost Advantage strategy leans on the idea of providing the best value to
the customer at the lowest cost. Many businesses accomplish this by
increasing operational efficiency, finding more effective distribution channels
and bargaining low prices for materials needed to create their product or
service.
3. Focus advantage approach tries to gain competitive advantage relying on
narrowing down a business' target audience at the exclusion of other
industry segments. Tailoring a product or service to suit a specific market's
needs allows businesses to easily offer the highest value. The focus
advantage is typically executed by applying either the cost or differentiation
strategy to a thoughtfully selected target market. The ideal market segment
of focus should have abnormal needs that are not being met.
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7. Tesla's Competitive Advantage-research and luxury market
• Tesla invests the bulk of their resources into research and development.
They are constantly looking into the future of personal transportation.
They are continually trying to find new solutions for the inevitable fall of
oil as the world's primary source of energy, as well as priming their
products for the rise of automation. Their high-eco-friendly brand also
differentiates them from similar companies, and likely will for the
foreseeable future.
• Tesla also currently leverages a focused strategy by tailoring their
offerings to the needs of a luxury market. However, this will not always
be the case. Their product development efforts are firmly aimed at
providing personal transportation on a global scale -- including the
release of more affordable products like the Model 3. This will only make
Tesla's advantageous market position more defensible when more direct
competitors arise.
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8. Apple’s Competitive Advantage
• Differentiation advantage is hugely essential to Apple's competitive
advantage. They have a strong brand and intuitive design that sets them
apart from other technology companies, giving them a large following of
brand loyalists. Apple has long made a distinct impression on
consumers and competitors alike with its innovative design choices. In
fact, most of their competitors are now releasing products that are
virtually identical to Apple designs.
• Similar to Tesla, Apple has a high volume of capital to invest into
research and developing new products. While they do not release
products at the same volume of some of their competitors, the products
they create are carefully designed to provide the best value and
consumer experience. This effective use of the differentiation strategy
has allowed them to sell their products at a higher price point than their
competitors without sacrificing market share or gross margins.
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9. • Till we meet again in the next class……….
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