Journals
2011 EN
Phillip W. Balsmeier · Terry M. Bergeron
This paper addresses the Year 2000 (Y2K) problem and details a program for a firm designed to eliminate or reduce the potential effects. The mission of any firms Y2K complainant program should be to take the necessary measures to ensure that proper topics are addressed. A company should have a comprehensive (global if necessary) Y2K Program in place and be committed as a company to see its success. Management needs to recognize the significant challenge represented by the Y2K problem and anticipate the need of an all out effort by all employees to ensure success. Employee involvement can range from those actually writing corrective code, to conducting and facilitating the testing procedures, to those who interface with customers to address and answer questions and concerns.
Journals
2011 EN
Joan H. Coll
The purpose of this paper is to detail the extent of computer activity in mainland China: hardware, software and endues, and to examine the ramifications such activity has with respect to the USA. Much of the information is based on the authors findings during a recent mission to China. The message is that China possesses a burgeoning computer industry, but one which is at our own 1965 level. The ten years of Cultural Revolution anarchy are responsible for this backwardness. However, Deng Xiaoping, Chinas present leader, is determined that China will take its place with industrialized nations. This means increased opportunity for the US computer industry and the prospect of economic competition in the computer arena.
Journals
2011 EN
Melissa St. James
This case study details the creation and evolution of an entrepreneurial effort started by a 7 year old girl and continued by her entire family. What began as a young girl’s way to earn money without selling her toys has evolved into a successful restaurant and wine bar called The Wine Vault & Bistro, tucked away in the South Mission Hills neighborhood of San Diego, CA. This case has been prepared as the basis for classroom discussion and is not intended to illustrate either effective or ineffective business practices. Sample discussion questions are included at the conclusion of the case itself.
Journals
2011 EN
Nancy J. Niles
Integrating strategic planning and financial planning is the best way for health service organizations (HSOs) to ensure their budget allocations are appropriately targeted to long range solutions. In strategic financial planning, in order to ensure that there is long range financial success, annual budgets need to be analyzed from a long term organizational perspective. This paper will propose a step by step approach to strategic financial planning and their application to the healthcare industry and how the integration of these processes will result in a long term successful framework for achieving the HSO's mission and vision. Cleveland Clinic will be discussed as an example of an HSO that has successfully utilized strategic financial planning.
Journals
2011 EN
Stacey Hansen · Hemant Rustogi
This case explores the opportunities and challenges confronting Jagged Peak during its first decade in operation. For nearly ten years, Jagged Peak had grown at a rapid pace despite the absence of a defined competitive strategy or formal marketing plan. Today, Jagged Peak management faces strategic decisions that impact the company’s future success and perhaps position the organization as a pioneer in an already saturated e-commerce solutions marketplace. The company does not have a definitive strategy for obtaining or retaining customers. The team that struggled to define their company mission and vision is faced with the challenge of identifying their value proposition and target market. A task that is typically completed during the formation of a business was being re-evaluated nearly ten years after the company’s inception -- to define their position in the market.
Journals
2011 EN
Jack Militello · Mick A. Sheppeck
Consulting plays a valuable role in business worldwide. Yet there is an on-going tension between managers and consultants that is vigorously document by critics. This tension has various causes not the least of which is that particular consultants are not appropriate for particular situations. We offer a simple assessment tool to assist managers in finding the right match between their business needs and the services offered by consultants. We suggest that clients determine the desired relationship between the consultant offerings and their specificity to the client’s strategic mission. We present a taxonomy of consultancy offerings and recommended how they may fit with the strategic mission of a client firm. We also warn clients to be aware of certain consultant behaviors that may inhibit client learning and increase the tension between the client and the consultant.
Journals
2011 EN
Charles J. Cante · Vincent J. Calluzzo · Huldah A. Ryan
Strategic Alliances are an important component of an effective Total Quality Management program (TQM) and of business growth. The Food and Beverage industry was studied as part of a long-term longitudinal research program, covering diverse industries, to determine the extent of penetration and effectiveness of strategic alliances and TQM. The results indicated that 62% of respondents participate in strategic alliances and 82% practice TQM. Over 74% of firms that did participate reported achieving or exceeded alliance goals and, significantly, 73% experienced increased business revenue. Approximately 11.84% of participants reported that costs exceeded expectations while 15.13% enjoyed lower costs. Some methods to enhance strategic alliance effectiveness are discussed. Total Quality Management (TQM) is a philosophy that includes the idea that to achieve the highest level of quality one must extend the quality system and program as far back in the Supply Chain as possible, i.e., to the supplier(s), the supplier’s supplier and beyond if applicable (first, second, third, etc., tier suppliers), and as far forward as possible, i.e., to customers 1 . TQM also embraces the following five concepts namely; continuous improvement (a never ending search for perfection), bench-marking (learning from the “best-of-the best or “best-in-class”), use of empowered employee teams 6 , just-in-time practices (JIT) (use of strategic alliances and few suppliers 2 ), and knowledge of tools (at least 51 tools including Statistical Quality Control 3 ). JIT practices include the use of strategic alliances; which may be with first, second and third tier suppliers and/or with customers; to achieve competitive advantages as well as to improve quality throughout the business system of an enterprise. 2 A Strategic Alliance is a formal agreement to supply a good(s) or services(s) and to jointly expand knowledge, develop applications and commercialize new products, with the rights of co-ownership, and commercial exploitation of the inventions within the boundaries of the Alliance particulars. Alliance partners work together to serve the ultimate consumer by doing together what each partner could not do alone. The Strategic Alliance agreement includes Supply, Technology, Intellectual Property, Legal and Termination/Disengagement sub-agreements and, generally, has a term of at least 3 years but not usually more than 5 years. The objective of a Strategic Alliance is to achieve competitive advantage for each partner through productivity and quality improvements and significant innovation. 2 This research was undertaken to determine the penetration of TQM and strategic alliances in the Food and Beverage industry. The intent is to re-study this industry in about 4 to 5 years to understand the evolution of TQM and strategic alliances from the baseline reported herein. The authors comprise the Strategic Alliance Research Group that expects to study a broad array of US industries on these subjects. 5 The reader is referred to the authors’ Web site at www.tsarg.com for the organization’s vision, mission, objectives and recent research.
Journals
2011 EN
Arístides R. Baraya · Michael C. Budden · Rusty L. Juban
Today, the development of a global vision is the cornerstone that guarantees personal, economic and social development, improves competitiveness, and strengthens democracy. Future business professionals will need to understand international business patterns and cultures in order to successfully work in corporations in either the United States or abroad. One way to achieve these goals is through the use of study abroad programs. Study abroad programs develop cross-cultural awareness as well as the interpersonal and professional skills necessary to operate in a changing business environment. A common perception of North Americans is that they are in general ethnocentric and resist efforts to internationalize. While this may or may not be true for all those who reside in the United States, it is undeniable that future college graduates require a better education in international business and cross-cultural differences. The Association to Advance Collegiate Schools of Business International (AACSB) has risen to this challenge by requiring participating schools to include a global perspective in their business education programs. In accordance with AACSB accreditation, colleges and universities must incorporate into their mission a focus on “strong and growing global economic forces” (AACSB Standards for Business Accreditation, 1991). For business schools, this entails covering topics that convey to students the United States’ role in the global environment and understanding economic and cultural dynamics that play a role in transactions between businesses in other countries. Teaching the intricacies of international business law and the difficulties associated with marketing to individuals of a different language cause can lead to a diminished learning environment in traditional classroom settings. In response to AACSB’s charge to improve education on international issues, some schools have stepped out of the classroom and literally moved courses into the global marketplace (Pretzels & Curico, 1996). This paper discusses the rationale for experiential education programs, the benefits of these initiatives to students, and current trends in international study abroad programs.
Journals
2011 EN
Reza G. Hamzaee · Bob Hughs
In this research, an analysis of modern banking in a competitive environment is provided. Modern banking operations would involve dynamic strategic planning, in which a clear mission is declared, various strategies are formulated, and certain objectives and goals are placed in order. The banking industry in various countries has gone through some evolution. The growing competitive conditions, both inside and outside the industry, have influenced the banks' investment in diverse assets and adoption of various forms of liabilities, which will be discussed here. Risk analysis, risk management, and operations under uncertainties would put a bank's survival and/or failure under a critical observation. This research provides a practical manual on bank investment under uncertain conditions, in which various kinds of risk are involved. While a competitive treatment of customers has always been of a critical significance to financial stability of banks, appropriate strategic decisions on investment choices and techniques have distinguished the thriving from the struggling banks. Among those alternative investment choices, one may clearly find the investment practices under varying interest-rate conditions of prime significance. The influence of cyber-technology on banks' services, policy making, forms of money & credit, including, e-money, electronic payments, digital cash, smart cards, online banking, etc., has attracted special attention by all the stakeholders. The authors will address the following three questions: 1. What portfolio structure in a variable interest-rate environment is proven to be most profitable? 2. What are the most appropriate products that modern banks must provide to their customers? 3. How is the task of risk management implemented by some successful banks?
Journals
2011 EN
Amit K. Sinha · Eurico J. Ferreira · Ronald Green
The last few decades have witnessed the transformation of financial markets in the United States. Electronic trading markets have now surpassed floor-based trading systems in terms of both trading volume and importance. The growth in technology-driven markets has led universities to evaluate and establish financial trading rooms in their College or School of Business. In this paper we discuss the purpose of such a room, the need for one, and how such a room fits into the overall mission of 'excellence in teaching' of a general College or School of Business. We find that the two most important factors to consider for a successful trading room program are faculty and curriculum.