Facing The Challenges Of Privatization Today Business Essay - Free Essay Example

Sample details Pages: 13 Words: 3785 Downloads: 9 Date added: 2017/06/26 Category Business Essay Type Analytical essay Did you like this example? In 1952 two different companies Shell Petroleum Company and Burmah Oil Company, UK signed an agreement with the Indian Government to prepare a new refinery in Mumbai and the name of the refinery was Burmah Oil Refineries Ltd. In 1957 it started and worked in a proper flow, In 1976 Indian Government changed their policy and nationalized the petroleum industry. Indian Government acquired the complete equity in Burmah Oil Refineries Ltd and changed from Burmah Oil Refineries Ltd to Bharat Refineries Ltd. In 1977 the Indian Government again changed its name to Bharat Petroleum Corporation Ltd. (BPCL). Industry Environment Indian governments acquired BPCL in 1970 in the act of nationalisation arrangement of Indian governments. In 1991 It was monitored and under the supervision of government till economic reorganizations. Government monitored the all the expenses, raw materials and the end products purchase and selling price, manufacture capacity, uses of the raw materials, circulation, and what is the return on investment were monitored by the government. Three main combined marketing and purifying companies were there at that time and many small and independent companies were supplying their product to these companies. Government improved their strategy for work and enlarged the distribution network in all over the country, like setup new retail outlets to reduce the competition along with their competitor. Don’t waste time! Our writers will create an original "Facing The Challenges Of Privatization Today Business Essay" essay for you Create order Privatization As a part of the ongoing economic reforms the government was actively pursuing privatization of the public sector companies. A couple of senior managers state Privatization is a slight that will happen. One cant bother too much about the future without knowing what is going to happen. It is inevitable and we cant do about it. We dont know what will happen to BPCL and us. Tomorrow we may not exist as BPCL. We might become a part of Shell or Reliance or some other organization. The impeding competition as well as the uncertainty of existence in the present form created anxiety in the organization across all levels. Some considered it to be an opportunity where as others considered it as a let down by the government and the organization. The organization initiated numerous changes in order to transform itself to face the future competition. Initiation of the Restructuring Process The initiation for restructuring the organization was by the personal initiative of the CMD Mr. U Sundararajan. He had earlier been appointed by the government to study the petroleum industry in other countries as a preamble for deregulation. He had formed a cross well-designed team for studying the effectiveness of the models followed by different countries. Mr. Sundararajan and the team studied more than two hundred books and numerous articles on deregulation, oil industry and best practices. Mr. Sundararajan realized the inability of his organization to compete with MNCs with deregulation. He started the reorganization process through discussions with the top management, the board and the government The path which BPCL LTD choose to face the competition and initiatives taken in terms of organizational Behaviour has been assessed in this assignment. For the purpose of analyzing the focus was laid down on key aspects of organization behavior which are organizational structur e, change of team and organizational culture and climate in terms of Coaches of Organizational Learning which can be correlated to the case. Coaches of Organizational Learning Consultants from Innovation Associates (a subsidiary of ADL) initially trained a group of trainer in systems idea and organizational education. A team of around thirty full time coaches and more than sixty part time coaches were trained in turn by these. These coaches conducted two programs namely Visionary Leadership Planning (VLP) and Foundations of Organisational Learning (FOL). More than six hundred managers have undergone VLP and more than five thousand management and non-management staff have undergone FOL. VLP program is designed to help teams clarify and understand reasons for their unique existence, co-create team aspirations, realistically assess current reality and formulate a Strategy to cover up the gap. The teams identify High Leverage Results they are passionate about and assign responsibilities to a few members with the whole team agreeing to support the process. FOL program is designed to create a common language of learning in organizations. The coaches were instr umental in creating a non-threatening atmosphere for change and also in providing the inputs on systems thinking and learning organization, enabling effectiveness of the various task forces empowered for quick result changes. One of the trainer states We have applied for instructor education with skeptism. We later realized the importance of systems ideas and organizational education. The first program was a mind opening experience. The inputs on functional silos reflected our organization. Now we are hardcore followers of systems ideas. Communication Communication played a important role during out the change process. A bulletin was promoted that provided usual updates to the whole organization about the visioning exercise, the assessment of current reality, status of the quick fix opportunities and the new structure. In every stage the break through teams had a high level of interaction with the concerned divisions. The informal channel of communication was also taken care of by including community from all realistic constituencies in the change break through teams. A top down approach was used to communicate the change plan with help from the break through team members. One CUSECS member reiterates Communication played a fundamental role in CUSECS project. The common updates through the newsletter and informal communication through the members to their parent departments was useful in updating the whole organization quickly. We identified enablers in each department, people who are opinion shapers and we particularly e mbattled them. We convinced them first and then asked them to communicate to others about the change Top Management Involvement The CMD was occupied throughout the reorganization process. He communicated his hold to the change activities by personal involvement, and regular appreciation to the change management team and the particular task forces. He played the role of a mentor to the team members. He also interacted with a large number of employees during the visioning, assessment and finishing point stages. Young managers recount stories of his support to the change team, where he gave total freedom to come up with creative ideas and safe guarded them from backlashes from well-known constituencies. Mr. Sundararajan recalls In the prime period I talked to lots of group of people regarding the need for reorganization. The leader has to act not just talk. Lip service will not work for long. If individual says one will take of care of the subordinates then one has to when something happens Change Opportunities for Quick Results During the assessment process, the break through teams identified many opportunities where small changes were likely to produce foremost results. Special task forces for working on the identified opportunities were created and started working in equivalent. The job forces were provided with adequate training and were in constant communication with the break through teams. At one point of time there were more than six hundred task forces working across the organization on thousands of opportunities identified in the change plan. Market study, brand building, packaging, operational efficiency of plants, correct quantity and quality of products, cash collections, and safety are some areas where task forces worked to produce quick results. Creating a Shared Vision The visioning exercise was conducted to develop clarity and common understanding about the potential of the association. The visioning work out started with the panel. The exercise was extended across the company in a escalation approach flowing from the top management to the junior management facilitated by internal experts trained particularly for the same. The core of the vision as articulated by the organizational members across the organization is given below. Be the BEST Establish first class brands and Make the workplace exciting corporate image Improve boundary management Excellent customer care and service Fulfill social responsibilities, to Go for excellent performance and ethical operational efficiency Apply the best technology. Make people a source of improvement Make systems strong and dynamic. Below figure elaborates the nine broad themes in the shared vision of BPCL. The visioning exercise provided an opportunity for articulation of the aspirations of the people. The process brought the whole organization out of lethargy, and increased the energy levels and expectations on persons, teams and the company. Since the vision was iterated throughout the organization, there was greater buy in for the change. One of the managers states We were all amazed that the vision was so much in unison across the organization. It clearly stated that people had great aspirations but never expressed them. This exercise made us realize the possibilities for the future of BPCL. Change Plan Based on the inputs from the shared vision and current reality, a workshop was conducted to develop a change plan. The change plan came to six volumes with over one thousand and six hundred pages. The change plan included the Organizational assessment Well defined corporate values Vision articulated in terms of critical business processes, and Areas of change to achieve the vision Organizational Assessment Current Reality Based on the initial diagnosis by the CUSECS team and the visioning workshop for top management, it was decided that an organization wide assessment exercise would be conducted simultaneously with the shared visioning exercise. Six break through teams were formed. The teams were responsible for assessing the organizational reality in terms of Marketing, Lubricants and Refining Support services and management Logistics processes LPG. The marketing team looked at the customer management processes, product management processes and execution management processes. The refining team compared the effectiveness of the refinery; lube oil processing and LPG plants with the best international players taking into account the machinery age and technology employed. Various performance parameters like crude acquisition, energy consumption, and capital expenditure were assessed. The logistics team also looked at the existing logistics infrastructure, economics of supply and distributio n, opportunities for cost reduction, supply points vs. consumption centers, impact of taxes and duty, and comparison with benchmarks and competitors. The LPG team compared the LPG marketing with that of the international and local competitors. The customer base, pricing policies, interface between the customer and marketing and future plans were critically reviewed. The lubricants team analyzed the organizational competitive position in comparison to the competition. It also looked at the packaging, pricing, branding, trade channels, the existing joint venture arrangements, and future plans. The team responsible for support services and management processes evaluated the human resource practices (for example work culture, HR processes, training and development, and appraisal and compensation), the information systems (for example use of different software packages, integration and use of IT), and accounting practices in terms of clarity, speed and cost. The break through te ams also assessed the organizational structure in terms of roles and responsibilities, levels and accountability, human resource development in terms of training, appraisal and compensation. Each team interacted with all the stakeholders concerned including the unions, suppliers, distributors, customers, financial institutes, local communities, government officials, and so on. Assessment was carried out in a non- threatening manner, with constant and rich communication of the activities carried out by the break through teams. The assessment exercise created an internal environment for change. The organizational assessment exercise found the following Collective dissatisfaction with the status quo Low customer focus and customer orientation Huge gap between the vision and capabilities to achieve it, and Many opportunities for quick improvement Change Team A change team was formed with twenty-two managers nominated from various functions across levels. The team size grew to thirty as the project progressed. The team members had varied performance records, educational qualifications and experience. The CMD did not believe in giving importance to those with higher degrees over others. His philosophy was to provide an opportunity to average people in an empowered and enabled environment to achieve great results. Mr. Sundararajan says Initially when we formed the change team I asked for nominations from various departments and they nominated all kinds of people. I did not nominate the best mangers in BPCL because I have observed many times in my career, if people are given the right environment and opportunities they would rise up to it. And my faith was not misplaced. These youngsters did a wonderful job. The change project was titled CUSECS for Customer Service Customer Satisfaction. The consultant ADL trained the CUSECS team. The training included topics like negotiations, interpersonal effectiveness, presentations, systems thinking, and best practices. The CUSECS team was provided with all the information and support required to develop skills in diagnosis, change strategy formulation, organization design, and implementation. Those who could not take up the huge workload and stress were requested to leave and join their parent departments. The team conducted a short diagnosis of the organizational issues with facilitation by consultants and made presentations to the top management. One of the CUSECS team members state: We were initially frustrated and unable to understand why ADL wanted us to think through everything ourselves, rather than telling us what is best. Later, we appreciated their approach in enabling us to think and decide for ourselves what is best for the organization. We were trained exhaustively starting from presentation skills, negotiation skills to systems thinking and so on. Designing the New Structure There was a clear consensus among the change management team, top management team and the consultants that the functional structure would not be able to sustain initiatives taken to create the customer centric organization. The obvious solution was to create customer centric strategic business units (SBUs). The change management team with assistance of the consultants considered various options. The redesign process took about a month. The CMD was personally involved in this. To prevent any interference from day to day activities he officially took leave and was present as a resource person. The change team discussed the various choices in structure with all the stakeholders. There were apprehensions among senior managers regarding the new structure and no consensus emerged on the new structure. Politicking and power plays were observed, with each function trying to retain the existing status in terms of power and control. Finally the CMD personally called for a meeting of the func tional heads and other senior managers. Asking the group to discuss, negotiate and come with a concrete solution acceptable to everyone, he locked the room and waited outside. Finally a design was approved that was acceptable to all. The final structure was not the optimum structure as envisioned by the change team but one acceptable to all the members of the top management team. Implementation The new structure was rolled out in phased manner to ensure effective implementation. The new structure was first implemented in the LPG SBU. Based on the experience, the new design was implemented across the organization with necessary modifications. Further, in each of the proposed SBUs specific regions were identified and the new structure was implemented to verify the smooth functioning before full implementation. Organizational Structure The older structure was functionally organized. There were mainly four functions (refineries, marketing, finance and personnel) each headed by an executive director reporting to the (CMD). Other support departments like corporate affairs, legal, audit, vigilance, coordination and company secretary were directly under the CMD. The Director refinery was in charge of refinery, corporate planning, JV refineries and special projects. Other than corporate finance and marketing finance EDP was also under the Director finance. In marketing, there were different departments for retail, industry, LPG, lubricants and aviation segments. Corporate communication was also under Director meeting. The whole of India was divided into four regions and further into 22 divisions. Each region was headed by a Regional Manager who was in charge of all activities within the region and reported to the Director marketing. Each region had a manager in charge of each of regional personnel, regional engin eering, regional industrial customers, regional retail, and regional finance. Regional LPG was under regional industrial customers. The division was the responsibility of the Divisional Manager reporting to the Regional Manager. He had a manager each for sales, operations and engineering. Each of these was responsible for sales, depots and engineering respectively for all the customer segments. Across the marketing function, except for the corporate departments (LPG, industrial customer, etc.) specifically looking after a customer segment, every individual and role is focused on multiple customer segments. For example any strategy addressing the industrial customers originates from the Corporate Department (Industrial Customer), goes via the Director Marketing, Regional Manager, Divisional Manager to the Sales Officer. All of them are responsible for multiple customer segments like retail, LPG, industrial, etc. and deal with different classes of customers. Hence there was very lo w customer awareness in terms of the unique needs of the different customer segments, with no single individual at the operational level having clarity on any single customer segment. Moreover, the marketing strategy was formulated by people who were far from the customer with very low understanding of the customer they were targeting. The implementers were responsible for diverse customers with a low understanding of the logic of these strategies meant for each customer segment. Thus the old structure had created a bottleneck between the strategy formulators and implementers in terms of the regional structure, and between the field staff and the corporate offices and refinery. Activities of a business process are spread out across different functions and levels of hierarchy, engaging many individuals. There was a long chain of non-value adding linkages between any two activities targeting a business / customer. For example, when an industrial customer gives a special order of lu bes to the sales officer, the corporate lubes purchases the base oil, plant blends it, SD packs it and the sales officer sells it. The Sales Officer would communicate the order to the Divisional Manager, who passes it on to the Regional Manager. Then the order would be routed to the Corporate Lubes for processing. Everyone involved in the activities of this process belong to different functions and hierarchy levels. This long chain of communication had led to a lack of customer orientation, low awareness of customer needs and expectations and slow response. The New SBU Structure The new structure was focused on the business processes and the customer. The new structure at the top management level is the same. Five SBUs Retail, Lubes, Industry/Commercial, LPG and Aviation are customer centered SBUs and come under the director (marketing). The sixth SBU, Refinery along with two new departments IT Supply Chain and RD are under the director (refineries). Each SBU would have its own HR, IS, finance, logistics, sales, engineering, etc. The number of layers in the organization was reduced to four from six or seven. The major change is the introduction of the territories covering a smaller geographical area and focusing on specific customer segments. In retail SBU the new structure had 669 territories reporting to the four regional offices, where as in the earlier structure there were only 22 divisions which catered to all segments. In other SBUs the regional office was removed and territories were designed to directly report to the SBU heads. Each territo ry team leader was responsible for sales in the territory only for a specific product. The territory structure was designed to enable the field staff to focus on specific customer segments. Authority was also delegated down the hierarchy and decision making pushed to the lowest possible levels. Decisions earlier taken at the regional level were taken now at the territory level. Further authority was delegated to the role and not the hierarchy level. Administrative offices have been moved to supply locations that consist of 125 terminals for main fuels and 35 LPG bottling ones. In LPG SBU head office there are only nine personnel and across the territories even managers at senior positions have been forced to get business. The new design incorporated recalibration of roles and responsibilities and redeployment of more than two thousand people (around one fifth of total employee strength) across the organization. It created new roles at the front effectively using redundant manpower t o increase customer interface and interaction. Since the corporate and support functions are now located within the SBUs the new design included lateral linkage mechanisms (see Appendix C). Governance Councils, Process Councils, and Task forces (to address specific organizational issues) were the mechanisms for integrating the different parts of the organization. Some Salient Features of New Structure were Highly empowered work force Decentralized decision making De-linking of authority from hierarchical levels Orientation towards internal and external customers Regular market research and customer surveys Conscious brand building efforts Organizational Structure before redesign Organizational Structure after redesign Conclusion Bharat Petroleum believes long term relationship with their customer to reorientation and change in approach with the customers. Today, Bharat Petroleum is restructured into a Corporate Centre, Strategic Business Units (SBUs) and Shared Services and Entities. From the last many years Bharat Petroleum continues face many challenges of the quickly changing environment. Bharat petroleum make advance and changes their products and services according to the changing environment. In day by day changing in bharat petroleum only one factor has remained unchanged this is Bharat Petroleums employees which are the source of strength and motivation of Bharat Petroleums in their future innovations. Bharat Petroleum wants their employees to understand the complexity of the market, customers requirements, and offer the innovative products to meets the customers requirements. For Bharat Petroleum, promise by its staffs is a critical resource. BPCL believe that only a cheerful worker will pla ce his best result and a good relationship with the customs, Bharat Petroleum deployed and also will plan to implement several steps to make the organisation a great place to work or worker get best organisation environment. Hewitt Associates conducted a survey for Business Today magazine in the January 2001 issue to identify the best employers, and in this survey Bharat Petroleum was one of top ten employers in India. The main motive of the survey was to discover out which companies had really charged the expressive and intellectual energy of their employees. The companies who were in the top list were Hughes, ICICI, P and G, Asian Paints, Hewlett-Packard, HLL, Infosys, LG and Compaq. Bharat Petroleum adopts significant value-based HR methods for growth of individuals and their organisational skills with a assessment to provide them with a competitive edge and also to realise their private vision in tandem with the commercial vision. Bharat Petroleum has been conferred the Na tional HRD Award 2000 by National HRD Network for making Outstanding Contribution to HRD. At the National Petroleum Management Programme (NPMP) on Excellence in Creativity and Innovation (1999-2000), Bharat Petroleum employees bagged all the three awards in the individual category, along with four certificates of recognition in the team category.

Essay on Online Banking Project Charter - 1279 Words

9 ot of 10 Business requirements For Online Banking Version: 1.0 Prepared by Parul Navadiya. Pl make it obvious which company you are the BA for! Table of Contents 1 Executive summary: 3 2 Project Objectives: 3 2.1 Project Goal: 3 3 Project Requirements: 4 4 Business Objectives amp; Success Criteria: 4 5 Project Scope: 4 5.1 In scope: Major Task. 4 5.2 Out of scope: 5 6 Stakeholders: 5 7 Constraints: 5 8 Assumptions: 5 9 Gap Analyses Business process Flow: 6 9.1 Current Business process flow: 6 9.2 Proposed Business process flow: 6 9.3 Step to go from Current state to future state: 7 10 Business Requirements: 8 10.1 Security Requirements- 8 10.2 Performance Requirements- 9 10.3†¦show more content†¦Therefore, we have applied the very latest technology while creating the Online Banking security architecture. The security features are described below. * Account ID amp; Password (PIN) Protection. User Account ID amp; Password protection occurs at the first level in online banking system. In order to access Online banking, user are required to enter an Account ID amp; password. Without Account ID amp; password, access to the online banking system is denied. To provide greater degree of security special password characters may be imposed by bank. The following character may be used as required :!@#$%^amp;*()_+-={}[]|\;:†Ã¢â‚¬â„¢,lt;.gt;/ In order to increase the level of security, impose a periodically change of password. * Auto Timeout Screen Blanking If user leaves their PC unattended amp; financial information is displayed while logged into online banking system, a built-in security feature minimizes the risk in such a situation. User is required to continue presented in order to remain active in the online banking session. The auto timeout feature warns user every 60 seconds prior to timeout. 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Music Technology Essay Example For Students

Music Technology Essay In 1898 the first form of recording had been invented with the use of magnetic cording. This was called the telegraphing invented by a Danish inventor called Palomar Paulsen. The telegraphing was able to record sound magnetically by using a thin steel wire, made from ordinary steel. The telegraphing was also used as an answer phone and office dictating systems. Paulsen also invented a machine that was able to record magnetically on steel. The invention was very unsuccessful and was only manufactured by two companies. As people found out that the telegraphing was able to perform other Jobs such as office dictation and answering phones, a few European companies tried to market the product in the sass with enhanced features. These machines were able to pick up weak telephone signals and with amplifiers could reproduce the sound with better volume. Examples of these machines included the teaspoon and the Daylight. In the early sass A German electrical manufacturer and his team designed a new kind of tape recorder, but instead of Pollens solid steel band they came up with the idea of using plastic tape coated in iron oxide. We will write a custom essay on Music Technology specifically for you for only $16.38 $13.9/page Order now This type of recorder was called the Megaphone, this was considered poorer quality compared to already existing wire recorders but was soon improved and became standard recorders in German radio stations. The development of wire recorders had continued in the period of time between the sasss and sasss , they were only being manufactured in small quantities, the Japanese in World War 2 were allies for the Germans and so the Japanese were able to gain access to some on the electrical technology, they designed and improved version and used it only for military purposes. Electrical Recordings In 1924, Columbia had experimented with technology from the Western Electrical Company, the company which made telephones etc, they decided to use electric amplifiers instead on the acoustic horn, this made the recording sounds louder and a ore clearer record. This soon became a more common device for people to by electric amplifiers. Later on they developed into Transcription, this type of recording Music Technology Essay By certified electromagnetic cutting head. The first produced vinyl records were in 1930 they had a inch diameter even though they had much better qualifications than the current recording systems many people were unable to afford the playback equipment was too expensive during the great depression. These inch vinyls were only able to record six minutes of sound, these short records were sent to troops to revived them with the current popular music at that time. After the war, Columbia Records carried on their research on affordable playback equipment. The invention of record players had a massive impact on the music culture, an example is in the early days of hip-hop where hip hop musicians would use multiple turntables to mix music and keep it flowing, they would also use other techniques such as scratching and turntables which involves cutting quickly between two records. Many people that appreciate music Just prefer the sound of vinyl as they believe it has a fuller, deeper sound compared to digital recordings. Tape Recorders The production of record player increased in 1964 in Germany, they launched in Europe in 1965. Tape cassettes had really only been designed for dictation and portable use as the audio quality wasnt good. They later unproved during the sass where the they were made with better sound quality and more portable and example being Sonnys Walkway. The marketing of cassettes became more popular than vinyl record sales. As much of a move forward the cassette was because of there size and speed compared to the stereo the cassette was considered poorer quality. .u157119ed20534581f8e48b5477e6c204 , .u157119ed20534581f8e48b5477e6c204 .postImageUrl , .u157119ed20534581f8e48b5477e6c204 .centered-text-area { min-height: 80px; position: relative; } .u157119ed20534581f8e48b5477e6c204 , .u157119ed20534581f8e48b5477e6c204:hover , .u157119ed20534581f8e48b5477e6c204:visited , .u157119ed20534581f8e48b5477e6c204:active { border:0!important; } .u157119ed20534581f8e48b5477e6c204 .clearfix:after { content: ""; display: table; clear: both; } .u157119ed20534581f8e48b5477e6c204 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u157119ed20534581f8e48b5477e6c204:active , .u157119ed20534581f8e48b5477e6c204:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u157119ed20534581f8e48b5477e6c204 .centered-text-area { width: 100%; position: relative ; } .u157119ed20534581f8e48b5477e6c204 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u157119ed20534581f8e48b5477e6c204 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u157119ed20534581f8e48b5477e6c204 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u157119ed20534581f8e48b5477e6c204:hover .ctaButton { background-color: #34495E!important; } .u157119ed20534581f8e48b5477e6c204 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u157119ed20534581f8e48b5477e6c204 .u157119ed20534581f8e48b5477e6c204-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u157119ed20534581f8e48b5477e6c204:after { content: ""; display: block; clear: both; } READ: The Differences between Buddhist Music in Japan EssayIn my pinion tape recorders were very short lived and they could be very fussy to deal with, they where quite chunky and plastic and to rewind a tape you would have to turn the small loops in the middle. But also think they could still have some sentimental value as it is still something to show for other than Just storing songs onto and pod or a phone. CADS The first CD was produced minion in Germany by Philips and Sony. In ! 970 Philips developed ALP which stoop for audio long play an audio disc that would go against vinyl, this would be done using laser technology. Lou Teens worked for Philips and suggested that ALP should be made smaller than the vinyl and hold up to one hour of audio. This was unable to be done as at the time as to fit an hour of music on a disc it wouldve had to of been CACM diameter. Sony insisted that that a disc must hold all of Beethovens 9th Symphony, a CD was able to hold minutes of sound but then CD was them increased too CACM diameter. In 1982 Philips had invented the CD player, the first commercial Cads came from ABA, Herbert von Karakas conducting the Paine Symphony. By 2000 Cads became a worldwide success the sale of CD albums sales ad consisted of 2. Billion but by 2006 the fugue had dropped by 1 . 755 billion. I think people now prefer the idea of vinyls as people appreciate the sound quality they believe it sounds a lot more raw and smoother. Cads are still quite portable but Downloading Music Anapest was the first file sharing program which was started up by Shawn Fanning, this was a network was made for shari ng music files. People were able to swap share and show song, but in doing this it was going against the copyright laws. Downloading had a bad effect on the music industry as music artists and record impasses where unable to recoup the costs of producing music. Metallic front man took a public stand against Anapest and soon after it was shutdown, since then online music stores have been set up such as apple tunes store which sells albums an singles online. There has also been many websites that have been closed down for being able to pirate music such as a downloading application such as limier. Its bad enough that these websites are illegal but these can also harm peoples computers as you dont know fully as to what you are downloading which could end up being a virus, The Influence Technology has had on Music The recording of music technology has developed hugely over the years making music so accessible to the point where you only need one device to carry thousands of recorded songs. Technology has consisted of having positive and negative effects on music. Technology has allowed music to be shown all around the world online and it allows music consumers to be able to purchase songs online with the click of a button. Been able to purchase music online makes it a lot easier for the buyer as it doesnt involve much effort and all and can be stored on a portable device such as pods and amps. But a disadvantage has been that music can be very easily pirated illegally. The sound recording industry fugues have halved over the past 15 years, this is a drastic effect from the problem of people downloading music illegally. The R. I. A. A have worked out that worldwide music piracy causes $12. Billion of economic losses every year. In my opinion many big artists get enough money for making music and I would illegally download that music because I feel it isnt far. I feel more generous in buying music forestaller artists and bands because they need the money more to tour and travel around to try and get themselves bigger.

Triple Layered Business Model Canvas †Free Samples to Students

Question: Discuss about the Triple Layered Business Model Canvas. Answer: Introduction The primary objective of the given report is to deconstruct a business model of a new innovative business model. The chosen company for deconstruction is Curbside. Curbside is a business established in the year 2013. The company was established by a group of ex- Apple engineers who wanted to enhance the journey of the customer (Armstrong et al., 2015). Working alongside retailers, they have developed a mechanism, with the help of which customers can connect themselves to the retailers and get their products picked up on the go. The concept of the startup is extremely simple. The person has to go through the various retailers present on the application and demand the delivery service (Business Insider, 2018). Recently the company has able to gather $25 million from 15 major areas. The company provides hassle fee shopping experience to the various customers by picking their product from the store or the restaurant and then waiting at a curbside counter to deliver the goods at home. Very often people are not able to take out time from their busy schedule and end up feeling trapped, hence this idea was harnessed by the business and the hassle free delivery system was established. The focus of the company lies on cities as well as outside the city areas. The company has been offering various features which will further develop its business model. The CEO of the company is Jaron Waldman. The given report will highlight various aspects of business deconstruction. The business canvas model will be discussed, followed by the relationship between the 9 building blocks (Barquet et al., 2013). Certain Critical Success Factors which are relevant for the business model will be described along with suggestions on how to improve the same (Bocken et al., 2014). Business Canvas Model of Curbside Key Partners Restaurants Retailers : CVS Pharmacy Pizza Hut Nordstrom Yelp H-E-B Westfield Chipotle Boston Market Key Activities Establishing relationships with stores and restaurants Hiring the delivery executives Taking process orders (DaSilva Trkman, 2014). Maintaining and managing their mobile applications and website page Processing of payments Value Proposition The value offered to the users Goods which can be ordered from restaurants and retail stores Door step delivery Value offered to the partners: Additional orders Reduced delivery expenses (Cochrane, 2014). Customer Relationships The customer relationship is managed with the help of : Social Media Customer Feedback Customer support (Hong, Fauvel, 2013). Customer Segments The people who want goods at the convenience of their homes Busy individuals who do not get time shop offline Housewifes, students, office goers Key Resources Technology used for application management (Carayannis, Sindakis Walter, 2015). Products of the stores they have partnered with and restaurants The delivery staff Channels Android and iOS mobile applications Website Cost Structure Office expenses Delivery staff expenses Technological website and app maintenance (Curbside.com. ,2018). Revenue Streams Commission charged from retailers and restaurants Urgent delivery fees Subscription fees Advertising costs (Kiel, 2014). Relationship between the 9 building blocks of the model The main aim of the business canvas model is to identify the various components of the business and to understand how the business functions. A business canvas model goes a long way in helping a researcher to identify the various resources available to him, the cost structure of the firm, the revenue structure and the value proposition the customers are offered by the business (Sinkovics, Sinkovics Yamin, 2014). The business model canvas provides details about the following aspects : Key Partners Key Resources Key Activities Value Proposition Customer segments (Sutton-Brady, Kamvounias Taylor, 2015). Customer relationships Cost structure Revenue streams Channels The business canvas model often describes the relationship that exists among the various components of any business organization. A canvas is incomplete if each component of the 9 blocks is not related to one another. This means that a change in one of the blocks will lead to a change in the other blocks present (Kiel, 2014). In the case of Curbside, the revenue and cost structure of the firm is closely related. For instance, if there is any change in the cost structure of the firm which is a result of an additional resource being employed, then this will increase the business capacity of the firm which in turn will improve its revenue capacity. In the same manner, the Value Proposition which is offered by the firm, is also related to the customer segments and the resources which a firm owns (Casadesus?Masanell Zhu, 2013). In this manner, the firm will be able to enhance its value proposition if he makes use of efficient resources. The channel which Curbside aims to use is also a major determining factor of the cost structure of the firm. For example, as it makes use of social media channels, the cost structure for advertisement is particularly low. In case the firm decides to opt for the more expensive advertisement medium then the cost structure of the firm will change accordingly. All the aspects of the business model are dependent on one another. Another example can be used of the case whereby the Customer segments and the customer relationships are concerned. Currently the firm has been targeting extremely busy consumers for its operations. If in future, the company decides to expand its business and decide to incorporate new products in the business operations, then it will have to add some additional resources. Adding these resources would directly pinch the cost structure and expenses of the firm. However if the customer segments served are increased, so will the revue increased (Joyce Paquin, 2016). Hence, from this example it can be witnessed that the blocks are interrelated to one another and any change in one of them would bring about a change in the other blocks too. Critical Success Factors of Curbside The critical success factors can be described as those factors which help a business organization to stay on its goal. It helps the organization in achieving its mission and objectives. The critical success factors for Curbside are as follows: At present the business has become a very popular concept in various cities around the globe, however, it can take some efforts and try to see to it that the customers of the organization are satisfied by the services that the organization tends to offer. Customers are considered to be one of the most critical aspects of any organization the satisfaction of which will be able to take the organization to new heights (Muhtaroglu et al., 2013). That is why the increase in the customer base is often considered to be an essential measurement of a firm`s success. The primary aspect of the Curbside business is to provide on time delivery to the customers. Any delay in the delivery of the products to the customers, will cause a sense of dissatisfaction to the given set of consumers and this may lead to the failure of the whole purpose of the business (Schneider Spieth, 2013). The business has been established to save the time of the different consumers. If the business is able to provide on the time delivery then it will be able to continue its operations for a long period of time. The value proposition of Curbside comprises of bringing the customers and the suppliers closer. Very often there are certain customers who are unable to connect to the suppliers as they are unable to take out time and indulge in daily shopping. However the curbside firm wants to provide them with an opportunity to get the desired product free of cost. Hence, if the firm has the ability to connect a large number of suppliers to the customers then it will be successful in the future. Causes relating to Downside risk Downside risk can be described as an event in the external environment of the firm which may have an impact on the functioning of the business and may lead to a risk or huge losses for the firm. For curbside, this downside risk may be a result of a strike conducted by the delivery executives which could stop the business from carrying out its activities. Such a risk could result in huge losses for the firm as it could lose out on the commissions of the business. Another reason why a downside risk can occur is the free delivery offered by the stores. If the stores start delivering the goods to the consumers for free then, the whole reason for establishment of the firm might suffer a blow (Schaltegger, Hansen Ldeke-Freund, 2016). Conclusion Therefore, from the given analysis on Curbside it could be concluded that the firm has analyzed the opportunity available in the market and harnessed it. It took advantage of the fact that certain customers are unable to take out time for their grocery shopping and that due to this they are missing out on good products. This gap was captured by Curbside and they formed a link between the retailers and the customers thereby making huge revenue on commission received. Recommendations Although all business houses have a unique business model, there are a certain number of changes which can be made to different models in order to enhance them and see to it that the company is able to carry out the different operations in a more successful and refined manner. As the customers are provided a free delivery system, the company can at least charge them nominal fees so that the firm is able to incur a certain amount of revenue (Massa Tucci, 2013). By doing so, the company will be able to increase its revenue structure. At present, it charges revenue from its partners, but charging small fees from its customers would also go a long way in determining increased opportunities. Currently, the business model of the firm permits that only the retailers are charged a subscription and commission fees however it is recommended, that customers could have been charged a fees so as to ensure extra revenue for the firm which would have bought about a change in the revenue structure of the firm. At present the partners associated with Curbside are very limited. The company can make an effort and increase the number of restaurants and retail stores associated with the firm. Currently only certain retail stores get their goods to the customers through curbside. Had the given business model was possible to change, I would have added more partners for the firm thereby increasing its network Conducting a market research has been recommended in order to ensure that the Curbside is able to fund better retailers to provide the service and expand its operations by serving a larger market of consumers. 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