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Developing Entrepreneurial Organizations
Entrepreneurs in Every Generation: How Successful Family Businesses Develop Their Next Leaders is a seven-chapter book published by Berrett-Koehler Publisher in 2016. Entrepreneurs in Every Generation shows readers how success in family business means assuring next generation entrepreneurial leadership in three dimensions: the business, the owning family, and the organization that nurtures both. Applying the entrepreneurial mind-set to all three dimensions, professors Allan Cohen and Pramodita Sharma define the challenges and the role for leadership; applying the entrepreneurial mind-set in all three dimensions is what sets family enterprises apart. The book not only reviews best practices, but it also urges special attention to the uniqueness of context. It also guides the reader through work sheets on how to understand and adapt to context. In Chapter 6 (35 pages), Cohen and Sharma show that effective redesign of a successful family enterprise and implementation requires careful planning linked to the long-term innovation objectives, understanding the current state of the organization to be sure that changes take current conditions into account, recognizing that not just roles and reporting relationships have to change but also actual practices and policies, seeing that the right people-family as well as nonfamily members-are put in place, and working hard at communicating clearly at all levels and managing the transition. Redesigning a successful enterprise to accomplish new strategic objectives is hard. Enterprising families with a long-term orientation, determined to foster all levels of innovation while maintaining the core business find ways to accomplish this challenging goal. -
Action Planning, A Question of Balance and Timing
Entrepreneurs in Every Generation: How Successful Family Businesses Develop Their Next Leaders is a seven-chapter book published by Berrett-Koehler Publisher in 2016. Entrepreneurs in Every Generation shows readers how success in family business means assuring next generation entrepreneurial leadership in three dimensions: the business, the owning family, and the organization that nurtures both. Applying the entrepreneurial mind-set to all three dimensions, professors Allan Cohen and Pramodita Sharma define the challenges and the role for leadership; applying the entrepreneurial mind-set in all three dimensions is what sets family enterprises apart. The book not only reviews best practices, but it also urges special attention to the uniqueness of context. It also guides the reader through work sheets on how to understand and adapt to context. In Chapter 7 (15 pages), Cohen and Sharma argue that only a small proportion of families in business achieve a successful balance between building strong family connections and making decisions that lead to strong financial performance. In other words, they aim for "warm hearts and deep pockets." Maintaining this ambidexterity over time requires wisdom, courage, and patience. Both the family and the business must have inbuilt renewal mechanisms so each can regenerate to remain in harmony with the changes in internal context and external environment. But, what to attend to when is a question of balance and timing. In this chapter, the authors attend to this perpetual dilemma that enterprising families face in their long journey to develop entrepreneurs in every generation. -
Significance of Teams
Project Teams: A Structured Development Approach is a seven-chapter book published by Business Expert Press in 2016 and written by Vittal S. Anantatmula, professor at the College of Business at Western Carolina University. The author provides a model of successful teams, examining a key aspect of the model in each chapter. He explores how the development, process, and management of teams works. He compares traditional teams with virtual global teams. He considers the attributes of productive team members and suggests traits of high-performance teams. Each chapter begins with objectives and a preview of concepts covered. Each chapter contains discussion questions. In Chapter 1, Significance of Teams (18 pages), the author examines the key elements of teams. He considers the nature of groups, defines the characteristics of teams, and lists six types of teams: project, production, service, action/performing, management, and parallel. He differentiates between groups and teams, including a formal structure, timeframe, and common goal. He explores project teams, their elements, and their importance. He presents a model of efficacy and outlines approaches to successful teams, such as defining roles, creating cohesiveness, and providing regular updates. -
Development of Project Teams
Project Teams: A Structured Development Approach is a seven-chapter book published by Business Expert Press in 2016 and written by Vittal S. Anantatmula, professor at the College of Business at Western Carolina University. The author provides a model of successful teams, examining a key aspect of the model in each chapter. He explores how the development, process, and management of teams works. He compares traditional teams with virtual global teams. He considers the attributes of productive team members and suggests traits of high-performance teams. Each chapter begins with objectives and a preview of concepts covered. Each chapter contains discussion questions. Chapter 2, Development of Project Teams (25 pages), describes two approaches to team motivation: task-related, focusing on the project's purpose, and people-related, focusing on creating a cohesive team. The author discusses the characteristics of each approach and explores how a team's structure affects the team's success. He categorizes structure into functional, projectized, and matrix, and presents advantages and disadvantages for each. He considers team members and the impact of social, behavioral, and cultural issues, especially on communication. He reviews basic information on generational groups, like veterans and Generation X, and considers how these groups work together in teams. -
Project Team Processes
Project Teams: A Structured Development Approach is a seven-chapter book published by Business Expert Press in 2016 and written by Vittal S. Anantatmula, professor at the College of Business at Western Carolina University. The author provides a model of successful teams, examining a key aspect of the model in each chapter. He explores how the development, process, and management of teams works. He compares traditional teams with virtual global teams. He considers the attributes of productive team members and suggests traits of high-performance teams. Each chapter begins with objectives and a preview of concepts covered. Each chapter contains discussion questions. In Chapter 3, Project Team Processes (25 pages), the author explores how teams operate. He presents two models of team development. He differentiates between management and leadership, and outlines how to develop each. He lists factors that support team performance and ways leaders can support the team. He describes these factors as a process of causals, means, and effects. He emphasizes how communication can reduce uncertainty and provides a model for supportive communications. He shares insight on communicating with senior executives. He also looks at how technology can support and enable communication. -
Managing Project Teams
Project Teams: A Structured Development Approach is a seven-chapter book published by Business Expert Press in 2016 and written by Vittal S. Anantatmula, professor at the College of Business at Western Carolina University. The author provides a model of successful teams, examining a key aspect of the model in each chapter. He explores how the development, process, and management of teams works. He compares traditional teams with virtual global teams. He considers the attributes of productive team members and suggests traits of high-performance teams. Each chapter begins with objectives and a preview of concepts covered. Each chapter contains discussion questions. In Chapter 4, Managing Project Teams (31 pages), the author reviews concepts in team leadership. He considers the power culture and team decision-making. He describes the task, socioemotional, and destructive roles of team members and how each affects delegation. He reviews influences on decision-making and proposes a six-step process from gathering information to monitoring results. He examines team conflict and ways to resolve it. He also reviews negotiations. He discusses the drivers of team motivation and links team behavior to stages of team development. He reviews the relationship between project success and the team manager's skill sets and attitudes. The chapter ends by comparing leadership and management. -
Productive Global Project Teams
Project Teams: A Structured Development Approach is a seven-chapter book published by Business Expert Press in 2016 and written by Vittal S. Anantatmula, professor at the College of Business at Western Carolina University. The author provides a model of successful teams, examining a key aspect of the model in each chapter. He explores how the development, process, and management of teams works. He compares traditional teams with virtual global teams. He considers the attributes of productive team members and suggests traits of high-performance teams. Each chapter begins with objectives and a preview of concepts covered. Each chapter contains discussion questions. Chapter 5, Productive Global Project Teams (23 pages), explores virtual global teams. The author explains the risks of such teams, including challenges such as diversity, lack of informal communication, and conflict management. He explores how the global nature of the team affects the project structure. He also highlights potential obstacles for knowledge sharing in a global team setting. He outlines success factors for global teams, such as communications, culture, and leadership. He summarizes the relationship between culture and leadership in a Global Project Success Model. The chapter ends by comparing elements of success for traditional and virtual teams. -
High Performing Project Teams
Project Teams: A Structured Development Approach is a seven-chapter book published by Business Expert Press in 2016 and written by Vittal S. Anantatmula, professor at the College of Business at Western Carolina University. The author provides a model of successful teams, examining a key aspect of the model in each chapter. He explores how the development, process, and management of teams works. He compares traditional teams with virtual global teams. He considers the attributes of productive team members and suggests traits of high-performance teams. Each chapter begins with objectives and a preview of concepts covered. Each chapter contains discussion questions. Chapter 6, High Performing Project Teams (25 pages), focuses on the experience of team members. The author explains how organizational structure develops, and suggests the organization will affect the team's hierarchy and operation. He outlines project, proposal, and portfolio teams, and lists success measures for each. He explains that success depends on the team's dedication, unity, spirit, harmony, and trust. He recommends that a team create a charter to define their systems and expectations. He presents how to create environments to help teams succeed. He mentions considerations for technology in teams and briefly explores issues of team maturity. -
Sustaining Effectiveness of Project Teams
Project Teams: A Structured Development Approach is a seven-chapter book published by Business Expert Press in 2016 and written by Vittal S. Anantatmula, professor at the College of Business at Western Carolina University. The author provides a model of successful teams, examining a key aspect of the model in each chapter. He explores how the development, process, and management of teams works. He compares traditional teams with virtual global teams. He considers the attributes of productive team members and suggests traits of high-performance teams. Each chapter begins with objectives and a preview of concepts covered. Each chapter contains discussion questions. In Chapter 7, Sustaining Effectiveness of Project Teams (4 pages), the author reviews concepts in team structure, development, and management. He suggests how organizational structure and culture affect a team's structure. He argues that an organization must support teamwork to have effective teams. He emphasizes that team management and leadership need to handle conflicts and obstacles, as well as guide team members. He identifies unique challenges for global teams. He suggests that teams use a charter to outline goals, practices, expectations, and metrics. He also reviews the success factors for the project, the project team, and the organization. -
Introduction
Relationship Marketing Re-Imagined: Marketing's Inevitable Shift from Exchanges to Value Cocreating Relationships is an eight-chapter book published by Business Expert Press in 2016 and written by Naresh K. Malhotra, senior fellow, CIBER and Regents' Professor Emeritus at the Scheller College of Business at Georgia Institute of Technology, Can Uslay, associate professor of marketing at Rutgers Business School, and Ahmet Bayraktar, assistant professor of marketing at Bozok University. The book argues why organizations should focus on creating customer relationships. They consider business-to-business, business-to-consumer, and internal relationships and provide a framework for understanding how to market for each. They also explain how using a Customer Lifetime Value model effectively measures marketing success. Within each chapter, the authors include questions, an analysis of a real-world example, and a review of concepts. In Chapter 1, Introduction (9 pages), the authors state their belief that the focus of competitive marketing is shifting from short-term transactions to long-term value. They explain that customer retention is vital to an organization. Thus, managing relationships with current customers should be a priority. They present a brief analysis of Ritz Carlton as an example of a business that builds strong relationships. -
What Is Relationship Marketing?
Relationship Marketing Re-Imagined: Marketing's Inevitable Shift from Exchanges to Value Cocreating Relationships is an eight-chapter book published by Business Expert Press in 2016 and written by Naresh K. Malhotra, senior fellow, CIBER and Regents' Professor Emeritus at the Scheller College of Business at Georgia Institute of Technology, Can Uslay, associate professor of marketing at Rutgers Business School, and Ahmet Bayraktar, assistant professor of marketing at Bozok University. The book argues why organizations should focus on creating customer relationships. They consider business-to-business, business-to-consumer, and internal relationships and provide a framework for understanding how to market for each. They also explain how using a Customer Lifetime Value model effectively measures marketing success. Within each chapter, the authors include questions, an analysis of a real-world example, and a review of concepts. In Chapter 2, What Is Relationship Marketing? (13 pages), the authors consider how marketing has shifted focus from individual transactions to customer relationships. They outline a taxonomy of markets: supplier, channel intermediaries, end users, competitive influences, and external and internal influences. They outline three levels of relationship marketing: financial, social, and strategic, and outline characteristics of each level along with examples. They analyze how IKEA conducts successful relationship marketing. -
B2B Relationship Marketing
Relationship Marketing Re-Imagined: Marketing's Inevitable Shift from Exchanges to Value Cocreating Relationships is an eight-chapter book published by Business Expert Press in 2016 and written by Naresh K. Malhotra, senior fellow, CIBER and Regents' Professor Emeritus at the Scheller College of Business at Georgia Institute of Technology, Can Uslay, associate professor of marketing at Rutgers Business School, and Ahmet Bayraktar, assistant professor of marketing at Bozok University. The book argues why organizations should focus on creating customer relationships. They consider business-to-business, business-to-consumer, and internal relationships and provide a framework for understanding how to market for each. They also explain how using a Customer Lifetime Value model effectively measures marketing success. Within each chapter, the authors include questions, an analysis of a real-world example, and a review of concepts. In Chapter 3, B2B Relationship Marketing (38 pages), the authors explore partnerships between businesses. They outline three criteria for effective relationships: dependence, commitment, and trust. They describe requirements for building these, and highlight how opportunistic behavior affects relationships. They also outline what factors improve a firm's relationship management capability. They categorize four types of B2B relationships and review different types of strategic alliances. The chapter ends with two real-world examples: Eatiply (cause marketing) and Apple and Clearwell (alliance). -
B2C Relationship Marketing
Relationship Marketing Re-Imagined: Marketing's Inevitable Shift from Exchanges to Value Cocreating Relationships is an eight-chapter book published by Business Expert Press in 2016 and written by Naresh K. Malhotra, senior fellow, CIBER and Regents' Professor Emeritus at the Scheller College of Business at Georgia Institute of Technology, Can Uslay, associate professor of marketing at Rutgers Business School, and Ahmet Bayraktar, assistant professor of marketing at Bozok University. The book argues why organizations should focus on creating customer relationships. They consider business-to-business, business-to-consumer, and internal relationships and provide a framework for understanding how to market for each. They also explain how using a Customer Lifetime Value model effectively measures marketing success. Within each chapter, the authors include questions, an analysis of a real-world example, and a review of concepts. In Chapter 4, B2C Relationship Marketing (17 pages), the authors review how relationship management works between businesses and consumers. They outline the major differences between B2B and B2C relationships. They describe customer-based and organization-based relationship marketing. They also consider personalization strategy in building relationships and how an organization can implement an effective personalization program. They demonstrate how Gaylord Opryland used a customer request as an opportunity to create a strong relationship. -
Internal Relationship Marketing
Relationship Marketing Re-Imagined: Marketing's Inevitable Shift from Exchanges to Value Cocreating Relationships is an eight-chapter book published by Business Expert Press in 2016 and written by Naresh K. Malhotra, senior fellow, CIBER and Regents' Professor Emeritus at the Scheller College of Business at Georgia Institute of Technology, Can Uslay, associate professor of marketing at Rutgers Business School, and Ahmet Bayraktar, assistant professor of marketing at Bozok University. The book argues why organizations should focus on creating customer relationships. They consider business-to-business, business-to-consumer, and internal relationships and provide a framework for understanding how to market for each. They also explain how using a Customer Lifetime Value model effectively measures marketing success. Within each chapter, the authors include questions, an analysis of a real-world example, and a review of concepts. In Chapter 5, Internal Relationship Marketing (9 pages), the authors review how the idea of marketing within an organization began and evolved. They categorize internal marketing as either treating employees as customers or treating individual business units as customers and summarize each approach. They provide two real-world examples: the "quit now" incentive at Zappos and tuition reimbursement at Starbucks. -
Building Brand Equity Through Relationship Marketing
Relationship Marketing Re-Imagined: Marketing's Inevitable Shift from Exchanges to Value Cocreating Relationships is an eight-chapter book published by Business Expert Press in 2016 and written by Naresh K. Malhotra, senior fellow, CIBER and Regents' Professor Emeritus at the Scheller College of Business at Georgia Institute of Technology, Can Uslay, associate professor of marketing at Rutgers Business School, and Ahmet Bayraktar, assistant professor of marketing at Bozok University. The book argues why organizations should focus on creating customer relationships. They consider business-to-business, business-to-consumer, and internal relationships and provide a framework for understanding how to market for each. They also explain how using a Customer Lifetime Value model effectively measures marketing success. Within each chapter, the authors include questions, an analysis of a real-world example, and a review of concepts. Chapter 6, Building Brand Equity Through Relationship Marketing (12 Pages), first discusses loyalty programs. The authors suggest business partners will form collaborative loyalty programs to maximize profitability. They also explore how social media and the Internet have expanded the possibilities for customer relationships by creating two-way relationships between customers and products that present both new channels and challenges. They use the example of American Airlines to suggest that frequent flier programs are no longer effective and explore Kickstarter as an innovative way to create relationships. -
Customer Relationship Management Analytics
Relationship Marketing Re-Imagined: Marketing's Inevitable Shift from Exchanges to Value Cocreating Relationships is an eight-chapter book published by Business Expert Press in 2016 and written by Naresh K. Malhotra, senior fellow, CIBER and Regents' Professor Emeritus at the Scheller College of Business at Georgia Institute of Technology, Can Uslay, associate professor of marketing at Rutgers Business School, and Ahmet Bayraktar, assistant professor of marketing at Bozok University. The book argues why organizations should focus on creating customer relationships. They consider business-to-business, business-to-consumer, and internal relationships and provide a framework for understanding how to market for each. They also explain how using a Customer Lifetime Value model effectively measures marketing success. Within each chapter, the authors include questions, an analysis of a real-world example, and a review of concepts. In Chapter 7, Customer Relationship Management Analytics (28 pages), the authors define and examine Customer Relationship Management (CRM). They argue that loyal customers are not always profitable, and suggest segmenting customers by profit potential. They explain why Customer Lifetime Value (CLV) maximizes profitability better than traditional methods do. They explain the basic CLV model and variations of it, and suggest two approaches to CLV: across-customer, for customer-oriented activities, and within-customer, for increasing revenue or reducing cost. Two examples illustrate these concepts: Trusted Media Brands' use of direct marketing and the Orlando Magic's use of statistical analysis. -
Future of Relationship Marketing
Relationship Marketing Re-Imagined: Marketing's Inevitable Shift from Exchanges to Value Cocreating Relationships is an eight-chapter book published by Business Expert Press in 2016 and written by Naresh K. Malhotra, senior fellow, CIBER and Regents' Professor Emeritus at the Scheller College of Business at Georgia Institute of Technology, Can Uslay, associate professor of marketing at Rutgers Business School, and Ahmet Bayraktar, assistant professor of marketing at Bozok University. The book argues why organizations should focus on creating customer relationships. They consider business-to-business, business-to-consumer, and internal relationships and provide a framework for understanding how to market for each. They also explain how using a Customer Lifetime Value model effectively measures marketing success. Within each chapter, the authors include questions, an analysis of a real-world example, and a review of concepts. In Chapter 8, Future of Relationship Marketing (4 pages), the authors argue that CRM is increasingly important. They posit that using metrics to demonstrate the profitability of CRM will increase the use of CRM and CLV models. They suggest that small organizations have more ability to develop personal customer relationships than larger organizations do. They also explore emerging markets as a frontier for relationship marketing. They suggest mindfulness in relationship marketing can reduce poverty and excess consumption, and increase sustainability. -
Service as the Key Driver of Growth
This book asks: (1) How is the service sector growing; (2) what is service innovation; (3) what are the drivers of service innovation; and (4) how can organizations innovate service in a structured way? The book views service as the value-creating activity of customers. The role of a company is to provide the resources and knowledge to enable value creation. We develop a model of service innovation. We also develop guidelines for what is required from the organizational perspective: how should an organization view its customers to be successful, what does a service development process look like, and how to transform an organization that has a product focus to a service orientation. In Chapter 1, the authors review the definition of service and the narrowing difference between goods and service. They argue that the subjects of service innovation and service itself are vital and understudied. They believe that understanding service differently will influence both what we believe an innovation is and how it is created. -
What Is Service Innovation?
This book asks: (1) How is the service sector growing; (2) what is service innovation; (3) what are the drivers of service innovation; and (4) how can organizations innovate service in a structured way? The book views service as the value-creating activity of customers. The role of a company is to provide the resources and knowledge to enable value creation. We develop a model of service innovation. We also develop guidelines for what is required from the organizational perspective: how should an organization view its customers to be successful, what does a service development process look like, and how to transform an organization that has a product focus to a service orientation. In Chapter 2, the authors describe service innovation and what distinguishes it from new product development focused on goods or hardware. They argue that service innovation involves a wider and more holistic approach to innovation, comprising process, experience, social aspects, and behavioral and business models or what creates value for customers. They review and categorize different types of service innovations and illustrate them with examples, including Ikea and Skype. -
Value Creation Drives Service Innovation
This book asks: (1) How is the service sector growing; (2) what is service innovation; (3) what are the drivers of service innovation; and (4) how can organizations innovate service in a structured way? The book views service as the value-creating activity of customers. The role of a company is to provide the resources and knowledge to enable value creation. We develop a model of service innovation. We also develop guidelines for what is required from the organizational perspective: how should an organization view its customers to be successful, what does a service development process look like, and how to transform an organization that has a product focus to a service orientation. Chapter 3 focuses on the importance of understanding "value in use"-the value-creation process of the customer. Questionnaires, focus groups, and even in-depth interviews rely on a customer's memory of this process. Research shows, however, that people are not very good at remembering such activities in detail. Organizations must therefore utilize user research methods that uncover needs and be customer-oriented in order to meet those needs.