7 Pages
Unlock Document

Arts and Business
Amit Seth

ARBUS 101: Resources GLOBALIZATION VIDEO: GLOBALIZATION’S EFFECT ON THE GLOBAL POOR - Globalization has helped people move away from poverty in such a short time - However, there are tremendous income inequalities - High Gini co-efficient: high difference in the distribution of wealth o When you get to 50: that means there are some very rich people and some very poor people → very unequal ROLE OF GOVERNMENT ARTICLE: STIMULUS SPENDING DID LITTLE TO BOOST ECONOMY - Government spending and investment in infrastructure simply did not contribute to the improvement in the economic growth - Instead, the private sector investment and increased exports were the driving forces in Canada’s economic recovery - Reduction in taxes would have been more effective in stimulating the economy TEAMWORK ARTICLE: LEADERSHIP: TEN IS A CROWD - An effective team means using fewer than 10 members - They should all have reasonable means and schedules to communicate with each other - The longer the team has been together, the better → more productive VIDEO: TEAMWORK AND COLLABORATION (John) - Collaboration and teamwork: teams work together to think of decisions ARTICLE: TUCKMAN’S MODEL OF TEAM DEVELOPMENT Stage 1: Forming Stage 2: Storming Stage 3: Norming - identify task and behaviours - emotional response to the - increase d openness and demanded of the team demand s of the task communication members - interpersonol conflicts - information, ideas, opinions - testing and dependence - hostility exchanged Stage 5: Adjourning Stage 4: Performing - tasks are completed - constructive action placed on - closure completing the task - reflect and learn from - subjective issues have already experiences been dealt with in the other stages ARTICLE: SETTING THE STAGE FOR GREAT PERFORMANCES (J. Richard Hackman) - Teams haves 4 features a team task, clear boundaries, a clearly specified authority to manage their own work processes, and membership stability - Four functions of authority: executing of the work, monitor and manage the work processes, design the tasks, and source resources needed for the tasks, and set a direction for the team - 3 structures of teamwork: design, norms of conduct, and composition of the team - The optimum level of productivity occurs at a level between 4 and 5 team members - 3 organizational systems that provide supportive context: reward system, the information system, and the educational system - Coaching should address in building teamwork: the amount of effort team members apply to their collective work, appropriateness to the task, and the level of knowledge and skill ACCOUNTING VIDEO: (Teresa Fortney) - The basic financial statements: income statements, balance, cash flow o Show them the outside world - There are more reports that are published internally for managers - Prepare income statement by products, by customers to understand specifics and the mis - Take the cost of the product and take it back to the operations group to help them see if they are meeting budget and to drive results - Have to have baselines to compare ratios to: competitors and budgets - General accepted accounting principles, IFRS implementation in Canada MARKETING I ARTICLE: DEWING IT ALONE Labatt Breweries of Canada: Bud Light Lime - Used its dedicated Canadian Facebook fans to promote the introduction Bud Light Lime o Given free swag and encouraged to spread the word - To this day, it is the biggest Facebook site of any beer in Canada - Social media is used to replace multimillion-dollar advertising campaigns o Able to use half the amount of money and achieve the same goal Crowd Sourcing: harnessing the wisdom of crowds to tackle tasks such as product design or crafting marketing slogans that would normally be done by staff or contractors - Heavily popularized through social media: facebook and twitter - Captures the attention and affection of a young, social-media-savvy consumer set PepsiCo: Mountain Dew - DEWmocracy Campaign: fans create and vote on a new Mountain Dew flavour o Dew Lab - Did not advertise the program at all, wanted loyal, passionate Mountain Dew fans - The fans are also not receiving any form of pay, swag, or free product: doing it based on their love to collaborate and co-create with the brand PepsiCo: Pepsi Refresh Project - Encourages consumers to vote for causes that they support and Pepsi will donate to it - Announced this project when it said it will not be advertising in the Super Bowl for the 1 time in more than two decades Doritos: advertisement at the Super Bowl - Both ads were created by consumers for a Frito-Lay online contest with 4,000 entries - Not all companies have a young and enthusiastic consumer base to be able to pull off this kind of contest: Jim Bean whiskey only drew 300 entries despite its easier process Vitamin Water - Uses the facebook community to create an entirely new beverage for the company (flavour profile, the name, the packaging, the whole thing) Labatt: Kokanee - Engage consumers with social media: online poll whether to keep or kill the Kokanee ranger - Listening to consumers rather than listening to ourselves VIDEO: SLICED BREAD, AND OTHER MARKETING DELIGHTS (Seth Godin) - Ideas that spread, win - The TV-Industrial complex: buy ads, get more distribution, sell more products, make more profits, buy more ads; does not work the same way it does - Consumers are faced with way more choices and less time; therefore, consumers have started to ignore advertisements - Is it remarkable? New, fresh, different, - Mass marketing does not work anymore; target the innovators and early adapters who will spread the ideas - Otaku: obsession o Talk to the people who are obsessed with it/ who are listening/ who cares and hope that it will spread to their friends and keep spreading o The riskiest thing you can do now is being safe VIDEO: THE RISE OF THE AMATEUR PROFESSIONALS (Charles Ledbetter) - The consumer wants to be part of the process - Users into producers, consumers into designers ARTICLE: WHAT IS CUSTOMER RELATIONSHIP MANAGEMENT? Customer relationship management: a strategy for understanding your customer and their needs in order to optimize your interactions with them - Uses technology to create stronger relationships with customers while maximizing your marketing and CS capabilities - Developing the companies methodologies, internal operations, software and internet capabilities to make customer relationships more profitable - Identify your best customers, enrich and customize the way you communicate with them, manage marketing campaigns, reduce customer response times, serve wider geographical regions Customer Relationship Management Systems - Comprehensive, company-wide effort to attract and retain customers through an integration of information, people, policies, processes, and technological strategies Advanced customer relationship management - Central database: employees can access a central database to view and update customer data to improve customer service, loyalty, and retention - Customer analysis: segment customers and prospects to customise marketing or sales campaign - Customer service: provide customers with the ability to self-order and self-help to reduce order entry costs and CS costs - Prospect tracking: track your sales while analyzing closing probabilities and ratios, proposals, products and pricing for each of your prospects - Reporting: forecast your revenues using automated reporting and trend analysis, resulting in better decision making Planning for customer
More Less

Related notes for ARBUS 101

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.