Innovating for the bottom of the pyramid 1. Why are companies such as Siemens‚ GE and Procter and Gamble targeting the “bottom of the pyramid”? These companies are targeting the bottom of the pyramid because this segment represents two-thirds of the world’s population (4 billion people). However‚ those people live on less than $2 per day and 1.5 billion people have no access to electricity. Companies such as the ones mentioned above have found out that this situation has provided an opportunity
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AIG was a very successful company and made billions of dollars on new investment instruments‚ which were so unique that didn’t even fall under any of the securities regulations. For two decades AIG was riding this wave of huge revenues‚ which did not require much in return. The earth under AIG started crashing down‚ once mortgage bubble burst happened. Significant decline in the mortgage prices caused AIG to lose over 62 billion of dollars at the very early stage of the financial crisis. The only
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Introduction 3M stands for Minnesota Mining and Manufacturing Co. It was founded by five businessmen in 1902 at the town of Two Harbors‚ Minn (3M‚ 2012). They originally financed the company to mine the mineral cornundum for grinding wheel abrasives but the investment became a failure because it turned out that the mineral was actually low-grade anorthosite (Goetz‚ 2011). After being done with mining‚ the founders bought a sand paper company but struggled on how to run it. Eventually‚ Lucius Ordway
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What Makes a Successful Business? Posing a question like "what makes a successful business" can be like the parable of the four blind men describing the elephant - all the perceptions are accurate‚ but they aren’t the full picture‚ and none really stands up on its own. The fact is that the elements that go into making a successful business are many‚ varied‚ and often industry/niche specific. Therefore‚ in order to deliver a small treatise on what it is that makes for a successful business‚ it is
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What makes a business successful? I have chosen to analyse three successful businesses to understand how each business has gained their success‚ these businesses include Apple‚ Asda and McDonald’s. Other than having success with a growing profit I will explain other factors that they have used. Apple is an innovative business that has dominated the technology sector. They have plenty of experience‚ since they have been in the technology industry for over 30 years. This means they have enough knowledge
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the 1980’s? 2. What caused the existing cost system to fail in the 1980’s? What are the symptoms of cost system failure? 3. Diagram the existing cost system for the turning machine area. 4. Diagram the ABC cost system for the turning machine area. 5. How were the limitations of the existing cost system overcome by the ABC system? 6. Compare the cost of product A103 (see Exhibit 11) under the existing cost system and under the ABC approach. John Deere Component Works (B) 7. What are the characteristics
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3M CASE STUDY Q1) Conservative Approach: Three Product Concepts * Mandate from management * Should not risk new process; Dunlop may use “revolution” against new method * Need to validate method at least once before basing major strategic decisions on it. * Not enough data yet to make such a drastic recommendation * Three concepts appear very promising and are enough of a “success” already. Radical Approach: New Business Unit Strategy * Team was charged with finding breakthroughs;
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Elevator Pitch: 3M Corporation have a history of succeeding through a culture of innovation along with leveraging existing core technologies. 3M management demonstrates existence of different divisions as independent businesses with their individual units of operations. In addition‚ the cross divisional support between various units like sharing personnel resources‚ distribution channels‚ 3M provided multiple possibilities for innovation. In such an encouraging corporate culture‚ should Optical Systems
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------------------------------------------------- Why “JD” is so successful in its marketing? If we focus on the needs of consumers‚ an organization creates a business that can outclass its competitors. The goal is also being closer to consumers and providing exactly what they want‚ for at last‚ trigger their purchase. This kind of business carries out research to find the needs and wants of consumers. It then uses the findings to design products and marketing strategies to satisfy these needs. JD is a British company using a specific
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I believe that in large measure what makes an organization successful in meeting the needs of its various constituencies is its distinctiveness. Organizations that have strong and unique cultures generally experience excellent performance which implies why many of the most successful organizations today are thriving and growing because‚ in large part‚ of their unique and strong styles and values towards corporate culture. Yet these same conditions pose a critical set of challenges but yet retain
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