Companies that enjoy enduring success have core values and a core purpose that remain fixed while their business strategies and practices endlessly adapt to a changing world. Examples include Hewlett-Packard, 3M, Johnson & Johnson, Proctor & Gamble, Merck, Sony, Motorola, and Nordstrom. Truly great companies understand the difference between what should never change and what should be open for change, between what is genuinely sacred and what is not.
This rare ability to manage continuity and change is closely linked to the ability to develop a vision. A well-conceived vision consists of two major components: core ideology and envisioned future. Core Ideology Core ideology defines the enduring character of an organization a consistent identity that transcends product or market life cycles, technological breakthroughs, management fads, and individual leaders. In fact, the most lasting and significant contribution of those who build visionary companies is the core ideology.
Core ideology provides the glue that holds an organization together as it grows, decentralizes, diversifies, expands globally, and develops workplace diversity. Any effective vision must embody the core ideology of the organization, which in turn consists of two distinct parts: core values, a system of guiding principles and tenets; and core purpose, the organization’s most fundamental reason for existence. Core Values Core values are the essential and enduring tenants of an organization, a small set of timeless guiding principles that require no external justification.
To identify the core values of your own articulate more than five or six, chances are you are confusing core values with operating practice, business strategies, or cultural norms Upon evaluation, if circumstances changed and penalized us for holding a core value, would we still keep it? If we can’t honestly answer yes, then the value is not core and should be dropped from consideration. Core purpose Core values are the essential and enduring tenets of an organization.
A small set of timeless guiding principles, core values require no external justification; they have intrinsic value and importance to those inside the organization. The core purpose is the organization’s reason for being, not to be confused with a goal or strategy. It is the idealistic motivation for doing the company’s work. Discovering core Ideology Core ideology needs to be meaningful and inspirational only to people inside the organization; it need not be exciting to others. It is the people within the corporation who need to commit to the organizational ideology over the long term.
Core ideology can also play a role in determining who is inside the organization and who is not. You cannot impose new core values or purposes on people; they have to be predisposed to share your core values and purpose, or let them go elsewhere. Core competencies should be well-aligned with a company’s core ideology and are often rooted it in; but they are not the same thing. Core competence is a strategic concept that defines your organization’s capabilities, what you are particularly good at– whereas core ideology captures what you stand for and why you exist.
Envisioned future An envisioned future, the second component of an effective vision, has two elements: 1. Big, Hairy, Audacious Goals (BHAGs) are ambitious plans that rev up the entire organization. They typically require 10 to 30 years’ work to complete. A company must have a BHAG (pronounced Bee-hag), a “big, hairy audacious goal” a clear and compelling unifying focal point of effort and a catalyst for team spirit. It has a finish line, so organization can know when it has achieved the goal.
A BHAG should not be a sure bet — it will have perhaps only a 50% to 70% probability of success but the organization must believe that it can reach the goal anyway. 2. Vivid descriptions paint a picture of what it will be like to achieve the BHAGs. Vivid descriptions are vibrant, engaging and specific descriptions of what it will be like to achieve the BHAG. Think of it as translating the vision from words to pictures. A direct link to the fundamental dynamic of visionary companies: preserve the core and stimulate progress. Building a visionary organization is 1% vision and 99% alignment.
Statement Of Purpose To Study In Canada
I aspire to receive the highest level of education in the ever-evolving field of Engineering and Technology. Each day brings new concepts and applications while rendering previous ones obsolete. I am fascinated by the limitless potential that arises when combining engineering and technology with management. Therefore, I am eager to further my academic pursuits in this direction.
Achieving expertise in Information systems and becoming part of my country’s technological workforce are my objectives for graduate study. I am passionate about honing my skills, gaining proficiency, and seeking professional exposure. Pursuing a graduate course will provide hands-on experience and allow me to specialize in my desired field of study.
In my undergraduate studies at Babasaheb Ambedkar Marathwada University, I have gained a thorough understanding of Mechanical Engineering and its core areas. However, it was the 6-month In-plant training at Bosch Ltd. in Jaipur, a German manufacturing company, that provided me with exceptional knowledge of Information Systems. This training consisted of a well-structured series of projects.
Throughout my training, I gained understanding of various Management Information Systems including Oracle, SAP, and other software developed by Bosch. This experience ignited my fascination with “Information Systems”. Following that, I obtained a position at Oriental Structural Engineers Pvt. Ltd., an infrastructure company, where I utilized SAP (Systems Application & Products for data processing), which is the largest Information System Software in the world. This chance gave me valuable insights into the field and strengthened my determination to pursue a successful career in this area.
Having worked for nearly two years, I have decided to upgrade my skills and advance in my field. I firmly believe that gaining experience alone is insufficient; specialization is crucial for attaining greater goals in life. Therefore, I am currently seeking a Post Graduate Program that can aid me in improving both my technical and managerial abilities while enabling me to concentrate on my particular area of expertise.
The Program offers a wide range of courses that are diverse and impressive, which is appealing to me because I do not want to limit myself to a highly competitive field of study. The variety of course options amazes me and strengthens my desire to join this program. With my determination, hard work, perseverance, and dedication combined with this program, I am confident that I can overcome any obstacles in my future pursuits. Considering the rapid advancement of technology, specializing in a specific area is crucial. Therefore, my goal is to pursue post-graduate studies in “Information Systems & Business Analyst”.
The ISBA program at my college offers me the chance to broaden my horizons and overcome any limited thinking I may still have. With a diverse student body that encompasses different cultures, nationalities, religions, and ideologies, I am certain that being exposed to such diversity will contribute to my personal growth. Furthermore, I believe this program presents excellent opportunities for me to improve and advance my knowledge. When compared to other developed countries, Canada stands out in multiple ways.
Canada is a privileged nation that values its diversity and tolerance. It excels in wealth, good health, and happiness when compared to other locations around the world. Education is highly valued in Canada, providing top-notch learning opportunities for all individuals. I am committed to giving my utmost effort and making the most of every opportunity that comes my way. Being accepted into a program with esteemed professors, excellent facilities, and a welcoming atmosphere would be extremely valuable to me. If granted this chance, I am confident in my ability to accomplish my goals and experience personal growth within your prestigious program.
Samsung Opportunities And Threats
Threat Increased competition Smart phones are easier to make now more than ever. More companies may enter the market, and competitors or even Samsung contractors can maneuver around patents to create similar devices. Samsung has linked product lines, which means that if one product line fails due to its own reasons other product lines will also suffer. Unlike Samsung, their competitors like Nokia has only focused in one segment and put much effort on it. Besides, the products made from China was very economic so Samsung could have a high competitive with their products.
Retail chains like “Big bazaar” sell consumer electronics and home appliance in low cost strategy which produced in bulks foreign market. Therefore Samsung is also facing threats from many other low cost companies. But top competitors of Samsung Group are LG Corp. , SK Group and Hyundai Corporation. Risks of Samsung plants Samsung has set up production plants in low cost areas, which are subject to ample political and economic instability. These instabilities can have an impact overall company it the crisis gets unmanageable. Health of Users
Many government legislations are now active against the innovative technology due to health and mental concerns. Regulatory Issues and Safeguarding of Intellectual Property Rights The regulations and legal frameworks in place in Korea have created problems for the Group as the Korean government recently halted plans for its Life Insurance division to go public due to legal concerns. With the large number of new products being designed and marketed each year, Samsung is also experiencing difficulties in safeguarding its intellectual property rights which are vital in retaining competitive edge. Opportunity Investment in Supply Chain
In 2002 and 2003, Samsung has invested heavily in research and development, production, and marketing. The group intends to build a 24-hour research and development system which will continuously develop and stimulate demand. Production investment will boost efficiency and the major marketing campaigns embarked upon should add value to products and increase brand awareness through the promotion of the DigitAll brand. International Expansion In order to broader their market in global, Samsung has investigated a new technology known as “Triple protection proposition”. This idea was to make their air-condition product category more strong.
Besides, Samsung is currently preparing to enter pioneer markets such as India and Eastern Europe. Samsung is the India’s official ‘Olympic partner’ for the 2012 London Olympic and recently launched ‘Olympic Ratna Program’ so this enhance brand awareness and increase their sales. Samsung Mobile and Home appliance has future plans of launching Customized products for Indian market. The market share in rural market will be improved by those plans. Since the Indian youth population is growing, mobile phone sales is expected to increase due to lesser call rates. Services and product variation Samsung distinguish its service from competitors.
Through making itself distinctive form competitors, it can gain more market share. By providing distinguish services, it can increases its customer base. Besides, Samsung can attract its target market and get more shares by introducing unique products and existing product with variety. Samsung could make an effort to launch creative products first, rather than after its competitors.
Reference Samsung Group. (1 March2004) http://www1. pu. edu. tw/~acchang/courses/IBANA/IBA221. pdf (2012, 02). Samsung: from Gallop to Run. StudyMode. com. Retrieved 02, 2012, from http://www. studymode. com/essays/Samsung-From-Gallop-To-Run-921136. html