Welch Vison for GE Cassandra Brown MGT/312 – Organizational Behavior for Managers 9/21/2014 Francis Fletcher Abstract In 1981 when Reginald Jones promoted Jack Welch to take over the GE (General Electric) little did the business world know that a once prosperous company would turn in to one of the largest companies in the world today. Welch’s three step process; his vision, increased the company profits from 26.8 billion dollars in revenues to 130 billion dollars in revenues in his 20 years at GE. With his primary focus on control, Welch took on quality, performance, productivity, cost control and enhanced GE’s technology which increased the overall profits in a depressing economic condition. Welch Vison for GE Jack Welch started working for GE (General Electric) in 1960 as a chemical engineer, and in was GE’s youngest VP in 1972; until Reginald Jones saw Welch’s potential and his drive in 1981, when Jones promoted him to run GE. Welch had a vision to create the largest company in the world to transform it into the greatest company in the world.
By the end of 1989, Nordstrom department stores sales were close to $3 billion with one of the highest profit margins in the industry. Nordstrom which went public in 1971 (NYSE: JWN), has been managed by the Nordstrom family, who until present day still own about half of the company. The family has maintained the philosophy of the company’s founder: “offer the customer the best in service, selection, quality, and value”. This philosophy has helped Nordstrom gain a considerable market share while enjoying over 20 years of uninterrupted earnings growth [Stevenson 1989]. During
Section E - Group No 4 (A) Harrah’s Entertainment Inc. – Case Analysis 1. Discuss the factors that drove Harrah’s customer relationship strategy. With the advent of new luxury casino hotels like Mirage and Bellagio and the rapid expansion of casinos due to relaxation of gambling laws, Harrah’s witnessed intense competition in the late 1990s. Customers were not making repeat visits and Harrah’s was losing its customers to other flashier properties. Since it was difficult for Harrah’s to make huge capital investments to spruce up its properties, it realized that a shift was required from its existing people management strategy to a new customer relationship strategy.
RITZ CARLTON CASE STUDY The Millennium Group is concerned the Ritz-Carlton’s Seven Day Countdown employee training program is preventing the hotel from maximizing their occupancy. I think it is important to not forget the business model for Ritz Carlton which has two main focuses: the individual traveler and the meeting event planners. Meeting event planners were seen as “the vital few” customers’. These accounted for 40% of annual sales. These are crucial to the propagation of the business because the meeting event planning funds the functionality of the hotel, while the individual traveler serves towards profit.
After analyzing Dell’s value chain it is easy to see they are unmatched in efficiency and product offerings. Their competitive advantage is durable, but as competitors prices become on par with theirs, Dell will have to make some changes to stay ahead of the game. Customer service is a weak point. Some customers are so irate after dealing with Dell’s call centers overseas, that they have gone so far as to create websites such as ihatedell.com and a forum at ihatedell.net to share horror stories. Dell continually earns nearly 50 billion in revenue and around 10 billion in profit.
But just this odd-looking person led his team to generate billions of annual profits and demonstrated an example of how a small business can make itself become a big company in the world. In order to understand Jack Ma more deeply, this article will briefly introduce Jack Ma’s life experience, explore the leadership traits and leadership styles of Jack Ma and draw lessons from it into hospitality industry. Brief Introduction of Jack Ma’s Life Experience Jack Ma is a famous business leader. Not only his Internet kingdom, but also his strange looking arouse public’s attention. In people’s minds, a billionaire should have massive body and handsome looks.
In this essay, we will look at people who are famous in the various ways they have amassed their wealth in their own lifetimes, through means that are exclusive of their family’s wealth or influence; some of these people who are most commonly noted in our daily lives can be categorized into the business sector, media, or sports scenes. To survive in the business scene today, it take more than just hard work. Being farsighted and the willingness to take risks are the x-factors found in successful businessmen and these traits do not only bring them the wealth but also the fame. An example of such entrepreneurs is Bill Gates. He is famously known for inventing the Windows Software and turning it into one of the most profitable companies of all time; earning him the title of the “World Richest Man” countlessly among the annual Forbes list.
Analysis The competitive forces of this industry, which mainly come from rivalries and suppliers, are relatively strong, and thus make this industry highly competitive. First, because of the recent economic crisis, the total amount of the maket demand is growing slowly. It even experienced a slight shrinking during 2006-2007. Second, the services of which each competitor can provide(rent movies both pysically and digitally) are standardized to a large degree, while none of the competitor could use a exclusive competitive weapon to gain significant advantages. At the same time the leader of the industry, Blockbuster, has recently replaced its CEO and craft a lot of aggressive movement to maintain their market position and rejuvenate profit.
Donald helped operate the place well which lead Hyatt to becoming one of the fastest growing hotel chains in United States. The company Hyatt, worldwide consisted of 456 properties. The Grand Hyatt Dubai Hotel was established on year 2003. The hotel is located near two of Dubai’s international airports. This Hotel has 674 luxury hotel rooms and suites with views of the Dubai skyline and residential apartments, at the time it made it the largest hotel in Dubai.
Kerzner’s career in hospitality began in 1962 with the purchase of the Astra Hotel in Durban. Following the success of that property, Kerzner built South Africa’s first five star graded hotel in a village north of Durban. He opened this resort in December 1964 which he named the Beverly Hills Hotel. The first five star South African , offering luxury rooms, bar, restaurant, gym and entertainment. Following the Beverly Hills, Kerzner built the 450 room Elangeni Hotel, overlooking Durban’s beachfront and, in 1969, in partnership with South African Breweries, he established the chain of Southern Sun Hotels, which by 1983 operated 30 luxury hotels with more than 7000 rooms.