Developing a business plan Assignment Example | Topics and Well Written Essays - 750 words

Developing a business plan - Assignment Example The other way is to increase labor and expertise in handling the needs of our clients better. The product logistics and quality controls will be essential in defining the way these products take place. A vertical retail presence in crucial catalogues and e-commerce avenues will be pursued. Advertisement by creating a buzz about this new brand will be made especially amongst opinion leaders based on a combination of product placement and public relations. To achieve this, the needed abilities are good technological backgrounds. The goal is to have a system that enhances customer experiences through the acknowledgement of feedback from the users. The company is also leveraging on its current technology that ensures it can use its services to benefits its clients and provide a solution to their needs. The capabilities lacking are in mass production, which could hinder the number of outlets served. The current number requires an adjustment (Rumelt, 2011). The products are ladies’ creams for both day and night. They will be produced at our manufacturing plant and sold by representatives across the board in both retail and wholesale shops. The goal is to create a wide supply chain team to ensure the products reach out to the largest audience. The sellers will be getting a commission when dealing directly with the company, while those in retail will get lower prices to ensure they profit from stocking our products. The development processes are unique in that they encompass the utility of the ideals of modern technology combine with appropriate understanding of biological attributes of the human body. The production takes place at a facility that follows the required criterion that assures the client of a quality product. The marketing aspect takes place on both new and traditional media, with the new media taking the highest form. This is because most of the targeted clients use these forms of media for communication and information. Products are

Porsche 911 turbo and ferrari 458 italia Essay Example | Topics and Well Written Essays - 750 words

Porsche 911 turbo and ferrari 458 italia - Essay Example Loaded with tones of accessories and electronics, the two cars provide a remarkable comfort level to the driver. However, Porsche 911 Turbo S beats Ferrari 458 Italia in terms of pricing, its low maintenance cost, and ability to be used as a daily car. The price is one factor which differentiates the two cars with a Porsche 911 Turbo S being available for about $140,000 while the fully loaded version comes for only an additional $20,000 i.e. $160,000. A Ferrari 458 Italia on the other hand has a base price of about $230,000 while the fully loaded version comes at $300,000. The main upside to buying a Porsche 911 Turbo S is the fact that it is available with fairly similar specifications and engine power at a significantly low price as compared to a Ferrari 458 Italia. The high pricing for the Ferrari discourage many people from buying the car as it provides almost similar level of comfort, style, and performance but for a very high price. As a result, many would prefer investing in a Porsche which comes with similar technical specifications but for a pocket friendly price. Although Ferrari 458 Italia costs a dreadfully large amount of money to the buyer, it also does not come with any warranty. In order to acquire a warranty for the car, an additional $50,000 has to be paid over the price which only covers the warranty for 7 years. A Porsche 911 Turbo S however gets warranty coverage for only an additional fee of $2500 which is significantly low as compared to the extremely high warranty fee for a Ferrari. Also, this includes warranty coverage for 9 years. Apart from the high warranty fee, Ferrari also has a high maintenance cost particularly due to its unreliable nature and frequent break downs. In such cases, the spare parts are quite expensive. Due to a dual clutch gearbox in Ferrari the typical replacement costs more than $40,000. However, the Porsche proves to be a reliable car with cheaper spare parts and maintenance costs. Another advantage of owning a P orsche 911 Turbo S is its ability to be used as an everyday car. This feature is particularly useful for those individuals who have an inclination for high speed and want to use the car to travel to work or any other place. A Ferrari with its upper high speed engine is normally suitable for driving on tracks rather than city roads which has traffic and may not satisfy the driver as a work vehicle. Many people prefer buying a Porsche because it can be used as a daily car. Also, it provides a smoother ride and a more comfortable one as compared to a Ferrari which is often uncomfortable to drive on city roads. That is why one may find more Porsches on the road than Ferraris. While a Ferrari may be a favorite among its fans, a Porsche proves to be a far more practical option for people looking for a fast, reliable, and yet a cheap car to maintain. Not only is its initial cost low but it does not require frequent maintenance because of its dependable nature. The warranty covers a greater number of years allowing its owners to stay tension-free with the high costs. Even its spare parts come at a cheaper cost and its simple Turbo 911 engine at the rear, the cost of repairing the engine is low and seldom does it break down. Because of the

How to Analyize and Argue an Essay Essay Example for Free

How to Analyize and Argue an Essay Essay A critique is an essay in which you evaluate (comment on the positive and negative aspects of) an essay or article. A critique can be positive (reasons the argument worked), negative (reasons the argument did not work), or shaded (reasons parts of it worked and parts of it didn’t). When you write a critique, it is important to keep in mind that you are not making suggestions for the author odds are the author isn’t interested in what you think she could have done differently—you are writing for another reader. A critique is often born out of reaction (you liked or disliked the argument), but is based on and supported by close reading and evaluation, not just how you feel. Writing a critique requires that you have a clear understanding of the essay. You should know the argument, the purpose, and the ways that the author supports the argument. If you can’t clearly articulate those things, you’ll have a hard time critiquing them. For tips on that process, see the summary page. Sometimes a critique is called an analysis or a close reading. In all cases you’re offering your own reasoned response to the ideas that the writer presents and the way the writer presents them. What to do: Begin by summarizing the piece. You’ll likely need a brief overview in your introduction anyway, and it never hurts to have a firm sense of the argument in your head before you begin a critique. In many cases your instructor will require you to begin a critique with a summary. Decide whether your critique will be positive or negative. Are you interested in the positives of the piece or the negatives? Did the author convince you or not? Do you want to highlight a combination of positive and negative? Pick several specific points from the essay that you wish to use as your supporting claims. You might take issue with an author’s organization or tone, or with her use of supporting arguments. The more specific you are in your points, the better your critique will be. See below for a list of possible critique points. The thesis of a critique is relatively straightforward. You simply need to present your evaluation of the article you’re critiquing. You then support that thesis using the several points you’ve chosen. In each paragraph of a critique, develop one of your points. Use specific examples from the text. If you want to say that the author’s tone was inappropriate for the subject matter, find a quote and then explain how the tone is inappropriate and why. Usually each paragraph explains only one example. You might have two paragraphs that discuss different examples of the same general point—for instance, two different examples of inappropriate tone. The number of body paragraphs depends on the length of the assignment. A two-page critique might not have more than two or three body paragraphs. A four-page critique might require five or six body paragraphs. Choose enough examples so that you can discuss each one in its own body paragraph. A general rule of thumb is that body paragraphs should be about a half a page long, double-spaced. In your conclusion, you want to remind readers of your thesis and pull all of your examples together. You don’t want your conclusion to simply restate your introduction, nor do you want to provide entirely new information. You want to naturally draw readers to an end. *Elements to Critique Here is a list of various elements you can look for in an article you want to critique. Keep in mind that not every item will be appropriate to every article. Logic: Has the writer picked examples that logically support her claim? Is her reasoning (the way she works out her ideas) in line with the claim and what you know to be true? Logic: Does the writer have reasonable support but is the overall claim itself flawed? (one might claim that global warming doesn’t exist, and then use sources that describe the recent temperature shifts as normal geological cycles. The supporting claims are logical, but the overall claim that global warming doesn’t exist is not logical because the temperatures are, in fact, rising. Does the writer use enough evidence to support his claims? Is the evidence the writer uses appropriate? For example, using outdated statistics is not effective, nor is using evidence that is not actually relevant to the topic. Tone: Is the writer’s tone appropriate to the subject matter? Is the tone at an appropriate level to the audience? If the writer is overly sarcastic, for example, that tone might not be appropriate to a subject like drunk driving. Tone: Does the author seem overly critical of a single person or movement in ways that do not support his or her thesis? Is the word choice appropriate for the audience? (If the article is from a popular magazine such as MacLean’s, but the language is highly technical and specialized, that might be less appropriate. ) Organization: Is the article organized in a way that makes sense? Does the organization make the article easier to read or more difficult? Expertise: Does the author establish herself as an authority on the subject? If so, how? Does she describe her credentials? Use technical terms? Refer to sources? These are just some of the different aspects of an article that are open to critique. Pick a few, look for very specific examples in the text, and build your body paragraphs around them. What it looks like: Below you will find two different samples. Each one contains the introduction and one body paragraph of a critique. One is a mostly positive critique, and one is a negative critique. Positive Critique: In â€Å"Game Theories† Clive Thompson uses the story of a man, Edward Castronova, to discuss online gaming worlds and their economy. He begins with a long introduction about Mr. Castronova, and then proceeds to outline several points about online gaming while still using Castronova’s story throughout the essay. His intent is to bring to light several opinions, facts, and debates regarding virtual reality games. In writing this piece, Thompson is effective in reaching this goal. He does so by using Edward Castronova as a credible example and reference, by his language and word choices, by quoting people highly involved in the virtual world, and by using recognizable and interesting examples of specific online gaming worlds. Thompson begins his essay by introducing readers to Edward Castronova, an economist who investigated the economy of online gaming worlds, and who submitted his findings on an academic website. Right off the bat Thompson draws the attention of readers by presenting Edward Castronova in a simple, story-like way. Readers find stories easy to read and to relate to, and for the first several paragraphs Thompson is in fact telling a brief story. Once Clive Thompson has successfully given readers Castronova’s background, he brings himself into the piece in a brief paragraph telling how he met Castronova. This is very effective because it associates him with the person whom readers are now interested in, and gives them more reason to find his writing credible and worth interest. Being able to associate with a real-life person allows readers to be more connected to the piece and to the author. It brings the entire piece closer to home, so to speak, which makes the entire essay more readable. Readers are more likely to enjoy an essay if they feel they can relate to its topic and to the author. Thompson accomplishes this reader comfort by introducing Edward Castronova and by connecting himself to this man. Negative Critique: In â€Å"Image World,† Michael Posner analyzes society’s dependence on visual stimulation using daily events as examples. Posner demonstrates society’s inability to distinguish reality from fantasy through numerous examples such as theme parks, rock concerts and political campaigns. Posner emphasizes on society’s attachment to imagery because he believes it is the only way to capture our attention, he also believes that it is the only way for people to understand the significance of a piece of writing or event. Posner’s primary audience include readers of Queen’s Quarterly and his secondary audience include students. Although readers recognize Posner’s argument on the effects of imagery within the culture of society, they are not convinced because of his negative outlook; therefore, he is not effective in his argument. In this essay I examine the different methods in which Posner is not effective: the use of excessive examples, tone and language, and organization. Posner’s use of excessive examples to support his argument distracts the reader. Although some readers may believe that using numerous examples further supports Posner’s argument, that writing alone is not enough to captivate the attention of the reader, students would argue against. For instance, he lists â€Å"Logos, billboards, banks of televisions, video monitors, camcorders, games downloadable to cellphones,† examples that have been mentioned already (p. 326). When using example after example, the reader is temporarily distracted and must figure out his point again. As Posner asks, â€Å"More examples? † he insults the reader suggesting that his audience cannot recognize and perceive his main purpose (p. 327). By insulting the reader Posner subtly suggests he knows better, separating himself from his audience. This separation causes the audience, students mainly, to not take him or his writing seriously.

Strategy of Marketing and its impact

Strategy of Marketing and its impact Strategy is a long term actions/plans which are made by some organization to achieve their peculiar targets/goals. (link 1) According to Michael Porter the strategy is all about the mixture of different activities which are differentiated from competitors to pronounce unique mix of value. To him its all about differentiating yourself from customers as well as competitors. (link 2) Without a strategy the organization is like a ship without a rudder, going around in circles Joel Ross Michael Kami (lec-1) Marketing strategy: A marketing strategy is a process or model to allow a company or organization to focus limited resources on the best opportunities to increase sales and thereby achieve a sustainable competitive advantage. (link-3) The set of objectives which an organization allocates to its marketing function in order to support the overall corporate strategy, together with the broad methods to achieve these objectives Chartered institutes of marketing (lec-2) The above two examples show that , marketing strategy is actually the strategy that support overall corporate and which a company has to use efficiently to market its products on best opportunities while converging the limited resources to achieve its goal. Marketing planning: Marketing planning is a logical sequence and a series of activities leading to the setting of marketing objectives and the formulation of plans for achieving them (link-4) Now we can interrelate all the above terms with the help of diagram below. Business Goals Market Strategy Marketing Mix Marketing Plan The above diagram shows that an organization has to set business goals which are actually the target of company or mission statement. The next level comes of marketing strategy which is esteemed rule that company has acquired to market their products. After establishing the market strategy company moves forward towards marketing mix in which it define the whole marketing mix i-e Product, Pricing, Place and Distribution. Afterwards the process of writing of marketing plans comes in which company has to describe the whole market activities which are used to acquire business goals. (link-3) 1.2 Impacts of strategy on marketing planning: Under this heading the strategies of organization will be discussed and the impacts of that strategies on the marketing of organization will be noticed. What effect that strategies will throw on organizations long run and short run will also be discussed. Here we are talking about Fresher marketing plans. As described earlier it is a Pakistani local company that is making 100% pure juices and this is one of the marketing strategy of Fresher that make it distinguishes from others. The company has many competitors in the same line of 100% fresh juices i-e Nestle, Shezan, Minute Maid etc. But the Fresher is successful yet to maintain the no. 1 position in the brands of 100% pure juices. And also Fresher is successful to maintain its positioning against Nestle and other strong brands like Minute Maid. The benefit what Fresher will get due to this strategy is that competitors are not attaching it from all the sides. Only fresh juice companies are interested to attach its strategies. It has no concern with any other product line of competitors. Another strategy of Fresher is that they are using PET BOTTLES instead of juice boxes which made their product easy to use for the customers and the look of their brand product is totally different from others. They are also using SHRINK WRAPS for the packaging of their products. The one more thing that makes their product discriminate is tags hanged with the bottle of juice on which a little description of brand and ingredients are written. These tags make the look of the product more elegant and it again helps to make a strong positioning of the brand. The promotion strategy that Fresher following is WORD OF MOUTH. They are using any other strong promotion strategy which again differentiate the brand from others in market. But as they are not focusing the advertisement strategy now when they that much stabled in market, they can spoil their positioning as well. Fresher has strong distribution strategy which has been helping the brand to be strong so far i-e they used ROLL OUT strategy of distribution. They started the distribution of their product from their own city and then they spread it in other cities with the passage of time when they had grown enough in the market. The strategy has a benefit that other strong competitors like Nestle, Minute Maid etc didnt notice such small brand and didnt take action for that. In the meanwhile Fresher entered in the market and had got a strong market positioning. Fresher had got another benefit of this strategy that is they maintained their resources with it. They started distributing their product in their city only and when they have earned enough money they spread it over other cities of Pakistan as well. 1.3 Component parts of a marketing plan: Parts/Categories with which a marketing plan is made up of are called components of marketing plan. Here the heading will elaborate all of its parts one by one. Executive Summary: It is the first component of the marketing plan which explains the summary of the whole marketing plan for the quick review by the management of the company. Mostly three issues are mentioned in this part. The Challenge Challenge consists of a little elaboration of product for which marketing plan is made and the summary of goals such as sales figures and strategic goals.. Company Analysis Company analysis mostly consists of the answers to following questions What are goals of the company? To what thing it focuses more? What are the strengths of that company? From what culture it belongs? What are weaknesses of the company? And in what market shares it exists? etc. Competitor Analysis In competitors analysis a short report about competitors weaknesses, strengths, market position and market shares is presented. (link-5) Current marketing situation: Its a marketing audit which shows the current market situation of the company by comparing it with the past situation of its own and with the market situation of competitors. It presents data about the market, product, competition and distribution. SWOT analysis: SWOT analysis is basically the analysis in which strength, weaknesses, opportunities and threats related to the product (to be marketed) are given to have a complete look on companys analysis. The firms internal environment presents strength and weaknesses while external provides opportunities and threats. Objective and issues: This heading defines the objectives of company in different areas such as market share, sales, profit etc. Also this category will deal with all the issues and problems that effect these objectives. Marketing strategy: In this category a marketing strategy or approach is recommended to achieve the particular objective. It is the main and important part of marketing strategy structure. The strategies will elaborate the marketing mix (product, price, distribution, promotion) as well. Action programs: In this step a report is given about details of marketing strategy. The report answers such questions like how will all plan start? Who will do it? What will be the cost of all plan? Etc. Budgets: The expected budget for the specific strategy is provided in the report along with the profit and loss statement that forecasts the expected financial outcomes from the plan. Controls: Indicates how the progress of the plan will be monitored. (lec-5) 1.4 Risks and advantages in the devised marketing plan: Risks: Fresher is having a big threat in the market due to its lack of advertisement strategy now when it has gain that much credibility. Other competitors in the market has built strong image through their advertisement promotion strategy. Now it is the time when Fresher might think of making a strong and highly attractive advertisement to throw behind all the competitors. Fresher is not having a properly educated team of employees and it dont have proper departments such as HR department, RD department, Marketing department etc. So the employees working in the competitors firm are more competent and they can make proper decision at proper time. Fresher has to work on it as well. It may form a proper team so that they can compete in the leading market. As Fresher employees are not that educated in their particular field, they have disagreement in the selection of strategies. This is the major risk for the Fresher in the market as it can lead to fall of the company. Advantages: Fresher has specialized workers only in the field of making juices. Their worker knows the formula and they are best trained workers in juice making as they have to make only one product line at one time and they concentrate fully on it while competitors of Fresher have more than one product line so their workers have less command on juice making. The earlier promotion strategy of Fresher (word of mouth strategy) is quite impressive as no competitor can concentrate on upcoming new brand in this way. It gave Fresher to expand rapidly in market. The different packaging of Fresher bottle made them different and they expand undoubtedly in the fresh juice market. The biggest advantage to Fresher was the introduction of 100% fresh juice first in the market which make them differentiate from the competitors and thus they expand rapidly.

Pablo Picasso Essay -- Essays Papers

Pablo Picasso "Yet Cubism and Modern art weren't either scientific or intellectual; they were visual and came from the eye and mind of one of the greatest geniuses in art history. Pablo Picasso, born in Spain, was a child prodigy who was recognized as such by his art-teacher father who ably led him along. The small Museo de Picasso in Barcelona is devoted primarily to his early works, which include strikingly realistic renderings of casts of ancient sculpture. "He was a rebel from the start and, as a teenager, began to frequent the Barcelona cafes where intellectuals gathered. He soon went to Paris, the capital of art, and soaked up the works of Manet, Gustave Courbet, and Toulouse-Lautrec, whose sketchy style impressed him greatly. Then it was back to Spain, a return to France, and again back to Spain - all in the years 1899 to 1904. "Before he struck upon Cubism, Picasso went through a prodigious number of styles - realism, caricature, the Blue Period, and the Rose Period. The Blue Period dates from 1901 to 1904 and is characterized by a predominantly blue palette and subjects focusing on outcasts, beggars, and prostitutes. This was when he also produced his first sculptures. The most poignant work of the style is in Cleveland's Museum of Art, La Vie (1903), that was created in memory of a great childhood friend, the Spanish poet Casagemas, who had committed suicide. The painting started as a self-portrait, but Picasso's features became those of his lost friend. The composition is stilted, the space compressed, the gestures stiff, and the tones predominantly blue. Another outstanding Blue Period work, of 1903, is in the Metropolitan, The Blind Man's Meal. Yet another example, perhaps the most lyrical and mysterious ever, is in the Toledo Museum of Art, the haunting Woman with a Crow (1903). "The Rose Period began around 1904 when Picasso's palette brightened, the paintings dominated by pinks and beige, light blues, and roses. His subjects are saltimbanques (circus people), harlequins, and clowns, all of whom seem to be mute and strangely inactive. One of the premier works of this period is in Washington, D.C., the National Gallery's large and extremely beautiful Family of Saltimbanques dating to 1905, which portrays a group of circus workers who appear alienated and incapable of communicating with each other, set in a one-dimensional space... ...ods. This paperback version is the smarter buy. Also available: A Life of Picasso: Volume II, 1907-1917, which covers the critical Cubist Period. Picasso : The Early Years 1892-1906 This is the catalog to the blockbuster show of 1997, featuring the Blue and Rose Periods. The graphics are of exceptional quality, and the accompanying essays are enlightening, focusing on less well-known aspects of this period of Picasso's career. Picasso and Portraiture : Representation and Transformation William Rubin (Editor), Anne Baldassari, Pierre Daix This is the catalog to the blockbuster show of 1996, featuring portraits from the beginning to end of Picasso's long career. The graphics are again of exceptional quality. Rubin's essay in particular is critical in art historical writing on the Spanish master. Picasso's Variations on the Masters : Confrontations With the Past Susan Grace Galassi This is an extremely interesting look at Picasso's series paintings based on masterworks from the past, from Velazquez to Delacroix to Manet. It was as if he could not find sufficient competition among contemporary artists, and looked to outdo the masters of the past in their own works.

Nature versus Nurture in Shakespeares Macbeth :: GCSE English Literature Coursework

Nature versus Nurture in Macbeth One of the most commonly debated issues concerning morality is the concept of nature versus nurture. Which is more integral to one’s behavior: the inborn qualities or the influences of life on the individual? Mark Twain, in his essay entitled "What Is Man?" describes humankind this way: Man the machine--man the impersonal engine. Whatsoever a man is, is due to his MAKE, and to the INFLUENCES brought to bear upon it by his heredities, his habitat, his associations. He is moved, directed, COMMANDED, by EXTERIOR influences--SOLELY. (What Is Man?, Mark Twain, http://underthesun.cc/Classics/Twain/whatman/Whatisman.htm) There is some scientific basis for this claim. Studies have shown that both a person’s genetic structure and the circumstances to which he or she is subjected have bearing on how a person thinks, feels and acts. Considering this, the actions of the character Macbeth must be evaluated by his personal motivations and the external causes that may have led to them. It is established from the very beginning that Macbeth is ambitious. There can be no doubt about this. A certain level of courage accompanies his ambition as well. As a noble he is an active one, fighting against the rebel hordes and Norwegians in defense of his king, no doubt for the purpose of gaining notoriety and other rewards. This is further illustrated by his gracious acceptance of credit for his deeds. He is a political figure in the highest sense, and show ambition in this way. However, there is no sign of him altering his course of loyal nobleman until outside influences begin to intercede. The people with gr eatest impact on Macbeth are the witches, his wife and Lady, and King Duncan of Scotland. The witches introduce the idea, King Duncan gives personal motive, and Lady Macbeth helps along the way. The least influential party in all of this is King Duncan. The conflict between these two is purely circumstantial, but clear enough. Macbeth is, as stated, an ambitious man. The King represents the highest position of power that Macbeth can hope to achieve. The King is also a father figure, patronizing to his subjects and expectant of total servitude. When King Duncan thanks Macbeth for his heroic service in battle, Macbeth replies that "Your highness' part / Is to receive our duties; and our duties / Are to your throne and state children and servants" (1. Nature versus Nurture in Shakespeare's Macbeth :: GCSE English Literature Coursework Nature versus Nurture in Macbeth One of the most commonly debated issues concerning morality is the concept of nature versus nurture. Which is more integral to one’s behavior: the inborn qualities or the influences of life on the individual? Mark Twain, in his essay entitled "What Is Man?" describes humankind this way: Man the machine--man the impersonal engine. Whatsoever a man is, is due to his MAKE, and to the INFLUENCES brought to bear upon it by his heredities, his habitat, his associations. He is moved, directed, COMMANDED, by EXTERIOR influences--SOLELY. (What Is Man?, Mark Twain, http://underthesun.cc/Classics/Twain/whatman/Whatisman.htm) There is some scientific basis for this claim. Studies have shown that both a person’s genetic structure and the circumstances to which he or she is subjected have bearing on how a person thinks, feels and acts. Considering this, the actions of the character Macbeth must be evaluated by his personal motivations and the external causes that may have led to them. It is established from the very beginning that Macbeth is ambitious. There can be no doubt about this. A certain level of courage accompanies his ambition as well. As a noble he is an active one, fighting against the rebel hordes and Norwegians in defense of his king, no doubt for the purpose of gaining notoriety and other rewards. This is further illustrated by his gracious acceptance of credit for his deeds. He is a political figure in the highest sense, and show ambition in this way. However, there is no sign of him altering his course of loyal nobleman until outside influences begin to intercede. The people with gr eatest impact on Macbeth are the witches, his wife and Lady, and King Duncan of Scotland. The witches introduce the idea, King Duncan gives personal motive, and Lady Macbeth helps along the way. The least influential party in all of this is King Duncan. The conflict between these two is purely circumstantial, but clear enough. Macbeth is, as stated, an ambitious man. The King represents the highest position of power that Macbeth can hope to achieve. The King is also a father figure, patronizing to his subjects and expectant of total servitude. When King Duncan thanks Macbeth for his heroic service in battle, Macbeth replies that "Your highness' part / Is to receive our duties; and our duties / Are to your throne and state children and servants" (1.

The 3M Success Story

From sandpaper to bioelectronic ears, 3M has come a long way. 3M is a prime example of how employees can turn a dying business into a multibillion-dollar company. 3M encourages employees to create new products and explore new ideas. This management tactic allows 3M to produce over 60,000 new products each year, successfully keeping up with our constantly changing, fast-paced economy. In the last 99 years it has been in business 3M, has become a well known as a worldwide business. Employing more than 90,000 employees, it made $19 billion in sales in the year 2000. 52% of which were made outside the USA. It has seventeen technology centers worldwide, with manufacturing sites in thirty-nine countries. 3M makes the difficulty of globalization seem like a piece of chocolate cake. 3M†s success is based on its 90,000 intrapreneurs. It recognized that employees were not merely simple workers, but talented entrepreneurs who needed only to be encouraged and appreciated. A business can keep its entrepreneurial spirit alive by, first and foremost, encouraging its employees to be innovative. It should also provide incentives like money, raises, vacations, promotions, etc. Businesses need to show appreciation and make its employees feel like they are valuable assets to the company. Employees are a company†s gold mine. They are a company†s most important stakeholders. They can make or break a business. A business needs only to please its employees and in turn, these gold minds will gleam and become great entrepreneurs. Though entrepreneurship is valuable, can a too diverse production cause a stumbling block for a company? If a business does not have the capital to support multiple products, it is not encourage able. Yet it should not put a total halt on new ideas and products, but create closely related products instead to begin with. 3M did not jump from sandpaper manufacturing to creating programmable disks. They started off with regular sandpaper then created environmentally safe waterproof sandpaper. However, if a company has the capital to produce new things and support new ideas, it is highly advisable to be involved in diverse industries. A company needs to keep up with the times. Product and service demands change with time. If a company only knows one business and is not widely diverse, it has higher chances of failure. Will diverse industries prevent a corporation from having expertise in all the areas? How could it not have experts? The employees are the inventors! After creating new ideas and products a company should always follow up on its products from production through marketing. This is very important in order to detect any signs of defects and safety issues quickly. This will also keep the company aware of how their product is doing out on the market and what they can do to improve their products. It will also give the company an insight into what the market wants. Now that we have a grasp on the importance of intrapreneuring, could 3M survive without it? I don†t know. How often do you buy sandpaper?