The purpose of this paper is to show how to evaluate the impact on innovation through strategies, processes, products and services through three different organizations. The organizations evaluated are Wal-Mart, Barnes & Noble’s and the University of Phoenix. As a manager of the in original and companies, it is important that several companies find a system to pursue accordingly and maintain the focus on remaining competitive. Consumers of all three businesses will profit from innovated options such as keeping the cost of products and services at a lower cost and by offering better options for a price which will enhance savings. Wal-Mart
Wal-Mart values the impact on innovation through the quality of the product they sell to the customer. Wal-Mart makes sure that the customer is satisfied with the services rendered. By making sure that the quality is there for the products they sell the latest core principal will make sure that this continues. These core principal deals with the partner ships established with company so Wal-Mart will have good quality products to sell to the customer. By having these core principal the organization will be able to stay open because of the dedication they have to the customer. In order for the Wal-Mart to have these core principal take effect and have customer service improved to customer delight.
Wal-Mart organization will have to implement a customer satisfaction survey line. This will have each store accountable for the services being provided to the customer. If the customer is happy for the service being provided the customer can call the hotline and let someone know about their situation. This will give a good learning tool for the store and local stores to improve on the situation that has happen so they can avoid it in the future. The way this can be enhanced is by having area coaches look in to the situation and ask what can be done better. By knowing and understanding the problem people can learn from it and teach the associates how these mistakes were done and what was corrected. This type of quality planning will move the company forward and not be left behind.
Barnes and Nobles
The Barnes & Noble’s impact on strategy is to take advantage of the technology that improves the quality of the company’s infrastructure, products and services may have risks associated with. One possible risk can be the data privacy and information security (Barnes & Noble, 2010). Consumers may now buy books or e-books through entering their credit cards or bank accounts online. Another risk can be the consumer spending patterns. The consumers’ demand for products may be low, and can therefore result to decrease in sales and net income of the company. Competition can also be a risk associated with the initiative.
For example, Amazon also has a product similar to Nook, which is the Kindle e-book reader. However, Barnes & Noble also has products that no other company can offer, such as the amount of free e-books that the company offers to those who purchased their products. As long as these risks, initiatives, and the financial planning are effectively managed before a problem occurs, there would be a greater success in implementing the strategy of the company.
University of Phoenix
The University of Phoenix impact on strategy, process, product, or services in the education service over 22 years; they offer an array of classes with flexible schedules. An individual can acquire an Associate, Bachelor, or Masters Degree, and Doctoral degrees to certification and single courses. Another advantage the university offers is smaller online classes opposed to larger in class classrooms.
The University of Phoenix hires faculty with real-world experience, and degree programs developed on relevant and effective learning for a quality education. The university is convenient for many students offering online and evening classes making it possible for those who work to have a chance to complete their education.
The University of Phoenix is one of the nation’s largest private universities located in Phoenix, AZ with more than 200 university locations worldwide. Classes are online for individuals with a schedule that would conflict with the campus class schedule, or for anyone that just wants to obtain a degree online.
The university is online in most countries around the world that makes for a diversified classroom setting. The online classroom offers easy access to the online Library, grammar, spelling, and writing aides. Above all the classroom comes to you right on your computer, and you can do the online classes in the comfort of your own home while sitting in pajamas.
The tuition for the universities online program versus college campus does initiate a higher price for a credit hour. The cost is justified with the cost of high technology, and the infrastructure. The university uses the profits made and re-invests it in the infrastructure to improve the online interaction. An individual is also able to apply for student loans, check on grants, and check with the school for any reduction in tuition fees.
The University of Phoenix is consistently doing online advertising with side window ads grabbing an individual interest with the ad stating the question “Would you like to go back to school, and earn your degree? You may be able to go for free.” The University of Phoenix advertises on the television from time to time, and on the car radio with commercial ads. The university receives several referrals from university alumni, and from students who attend classes working on a degree. Word of mouth is a very powerful advertisement among friends and family then they go and tell their friends and family making word of mouth a powerful way to advertise.
The University of Phoenix has grown into a large for profit educational institution although they had problems in the past they are slowly coming back from these unfortunate times. The university in the past has chosen many marketing strategies, and competing as a For-profit educational market. Segmentation of potential target markets such as consumers, business, and international is a very important process because not all the segments of a market are effective in a business’ needs. Here is where the evaluation of the market segment size and growth, structural attractiveness, and company objectives and resources will require analyzing carefully by management.
Throughout the past decade, innovation on several organizations has shown a profit with an abundance of success to many customers and owners. The originality of the improvements is performing very well as the customers and owners are quite pleased with the outcome. The consumers’ demand for products may be low, and can therefore result to decrease in sales and net income of the company. Competition can also be a risk associated with the initiative.
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