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QUESTION
Improvement Strategies
Choose a local small business. How does the company currently use digital media? Are these methods or strategies effective? Explain using evidence and/or specific examples to support your rationale. What recommendations do you have to assist the company in improving its current strategies? Are there any mobile strategies that would be effective? Explain
| Subject | Business | Pages | 2 | Style | APA |
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Answer
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Improvement Strategies
Menlo Innovation is a small business company located in Ann Arbor in Michigan. The company was founded by Richard Sheridan, who is currently the CEO and James Goebel. The company has around 43 employees with a revenue history of 4 million US dollars (Pecchenino, Byren & Hurley, 2017). Its custom mission is to put an end to human suffering through the use of technology.
The unique context of the company in innovation is that it promotes happiness and joy. Preaching about joy and happiness among its workers and customers remains the company's most effective advertisement strategy. It uses various forms of digital media to enhance awareness of its product and services. YouTube interviews and eBooks remain the essential forms of digital media used by the company to reach out to their intended customers. A good example is presented during a YouTube interview on the two founders, Richard and James, by the positive organization center (Center for Positive Organizations, 2017). The discussion was done mainly to highlight some of the company's strategies to enhance fair competition in the innovation market. The founders were able to mention some of the services and products offered by the company. Through these sessions, people get informed about the company's main operations, hence a chance to win the customers' trust. Having the ability to interact online gives the company a chance to create brand loyalty. Customer's responses and feedback are tracked easily and addressed appropriately, giving the company good customer reviews and customer loyalty.
Even though digital media is the only marketing strategy that promotes success in the current digital world, the company should also consider using direct contact with its customers or other stakeholders. This might include meeting and face to face educational training to improve customer satisfaction and loyalty. The company should also use voice search optimization as a mobile strategy to ensure that their business details are up to date[3] The first road was popular because it lacked grass, and the speaker opted to keep it for another day.
References
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Frost, Robert, and Anne Bingham. The road not taken. Tabula Rasa Press, 1993.
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QUESTION
Week 4 Discusssion
This is a discussion question that I need answered. I need the second portion of the questioned answered thoroughly, both bullet points. I have highlighted it in yellow to show that it is what I need answered. I need this r returned to me completed without any grammatical or punctual errors. The company that I want this question written about is Nissan Motor Corporation.
Choose ONE of the following discussion question options to respond to:
Using Adverse Conditions to a Company's Advantage
- Chakravorti (2010) discusses four methods that corporate innovators use to turn adverse conditions to their advantage. Examine an organization of your choice and briefly discuss how the organization might use one of these methods.
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Assessing Risk and Reward
- Using the company of your choice, identify an important and difficult decision that they faced. What were the most important risks and the most important rewards of the decision?
- What data, analysis or perspective would you have used to help Sr. Management decide if the rewards outweighed the risks?
| Subject | Business | Pages | 4 | Style | APA |
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Answer
Assessing Risk and Reward
The Nissan Motor Company is one of the leading automobile makers in the world. The Japanese carmaker has primarily enjoyed a successful run, allowing it to enter various regional and international markets such as the United States. However, the changing business environment was not favorable to the company in 2019. Notably, the cooperation recorded losses amounting to 7.8%. The experience pushed the management into making tough decisions, requiring almost all of its North American workforce to go for unpaid leaves.
In late 2019, the company announced that the decline in sales necessitated a two-day unpaid leave for the North American workers. The stated days for the vacation were January 2 and 3rd (Chicago Tribune, 2019). Notably, this move was a crucial decision for the company because of its conflicting impacts. Whereas on the positive side, it could help the firm minimize expenses, it threatened to affect the public perception of the company regarding employee welfare.
The rewards for the decision involved cutting expenses by not paying the workers on leave, which eventually would translate into reduced expenses. Another reward was that the decision could allow the company to optimize performance by evaluating employee performances then developing new milestones. However, on the low side, the company risked affecting its public image and brand name, especially in the North American market. As per Chakravorti (2010), the way an organization treats its employees influences the firm's public perception. Thus, Nissan risked eliciting a negative public perception. With a distorted public image, the company could fail to revive its declining sales.
I would have advised the management of Nissan to utilize the Predictive Analytic perspective in determining the right decision to take. Ideally, the approach tries to predict what might happen in the future if particular decisions or actions are undertaken at the moment (Traymbak & Aggarwal, 2019). Looking at the situation at Nissan, the company needed to develop a goal such as increasing sales. After that, they would have made decisions aimed at realizing the set goal. In this regard, the predicted outcome could give the management an overview of whether more risks existed or significant rewards could be realized.
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References
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Center for Positive Organizations (2017). Interview with Menlo Innovations. [Video]. Retrieved on November 3, 2020, from https://www.youtube.com/watch?v=VyNFj7BBCOw
Pecchenino, R. A., Byren, J., & Hurley, M. (2017). Real Options? Labour Contracts for an Uncertain World.