The internet is filled with webcams. For example, Pebble Beach Golf Club has several (see http://www.pebblebeach.com). How could a researcher use webcams like these to collect behavioral data? Who could benefit from this data? Would it be ethical to conduct observational research in this way?
Based on our course materials, analyze the case and answer the
Based on our course materials, analyze the case and answer the question posted in the case.
Question: “Why, when he had done everything right, had things gone so wrong?”.
note: this is an assignment for business entrepreneurship, I have added course content as well as the case study titled “ the safe home” in the documents section.
The new technological developments today affect both large and small companies.
Business Assignment Help The new technological developments today affect both large and small companies. The new developments in technology has led many businesses to depend on innovation to survive. Innovation can occur in both large and small businesses. As a small business owner, from experience, innovation is required to remain in business. There is no secret formula to innovation. Mitra details that innovation organizations require adaptability, agility, and ambidexterity.
As a local business owner, it is my job to incorporate innovation into the organization. For over ten years the business has operated without being a innovated business. As the innovations occurring within the beauty market began to reflect as a benefit to the industry as a business owner i was forced to adapt to the changes For example, when the salon opened we were listed in the yellow pages, business section, of the telephone book. The salon now has social media accounts and a website. As the manager, I saw the need to adapt in 2018. The agility of the business needed improvement. The business was not prepared to adjust to the market changes. The internal business affairs were affected by the delayed business decisions and changes. All companies of all sizes and management structures should include innovation. As a business owner and operator of a sole proprietorship all business management decisions and changes were done by the owner. The salon was failing at being innovative due to management. Almost twenty years ago generating revenue was more important than being innovative. Today innovation generates revenue. For the first fifteen years of business managements focus was making a profit. There was no organizational ambidexterity. The salon was doing well, however as time changed and the developments in technology caused advancement in the beauty industry, management did not adapt fast enough to be a financially successful business today. The salon took a loss as we transitioned into MIS systems and adapted to other innovative developments. Had we transitioned sooner or kept up with the innovation in the market, we would be financially farther as a business than we are today; possibly a second location.
Discussion 1
In my local city there is an abandoned drive in movie theater. The theater was named Sunset Drive In. Sunset was a successful business until the new developments in technology led to improvements and changes to theater entertainment. The movie industry started converting their movies from film to digital. For Sunset the new digital equipment became expensive, too expensive to obtain and maintain. Not being able or willing to keep up with the new developments in the film industry is how the management failed. The decisions of the management and the new options for consumers is why the business failed. Many people began to purchase home theater systems and televisions which later advanced to cable and color. This created a new innovation for home entertainment. There was the trend for VHS, DVD’s, and now live streaming. Sunset was a privately owned theater. The managements decision to not invest in the new technology required for production and profit was a failure to keep up with innovation.
Reference
1. Mitra, J. (2017). The Business of Innovation. ISBN: 978-1-4462-1082-2
2. A History of Drive-In Theaters. DriveInMovie.com 1998-2021
https://www.driveinmovie.com
Threat of New Entrants: The threat of new entrants in the
Threat of New Entrants:
The threat of new entrants in the industry with Tesla are low due to the barriers that are in place and the amount of competitors that already exist within the market. The barriers that are involved with this are the research, development, and design of a car. This doesn’t come easy or cheap, so being able to do this takes time and money to complete properly. Along with that, establishing your brand in this market would take a long time. Creating something that people like and would be willing to move towards is a difficult thing to do. Brands that are already established like Tesla or Mercedes benefit from what they economy has likes about them. New entrants would have to try and move passed this barrier and would struggle to do so with the upfront costs that come along with it.
An example of a new entrant into the electric car market would be Lucid Motor Company. This company created a car called the Lucid Air, which is an electric car based in California that has been named MotorTrends 2022 car of the year. The Lucid Air is the motor companies first car and it has already won this award. With that being said, Lucid Motor Company has made itself a threat in this market with Tesla.
Threat of Substitutes:
In this area, the threat of substitutes are moderate. This is because of the alternatives that are offered by competitors and with the public transportation that is offered as well. It doesn’t cost much to switch from one type of brand to another based on the prices of vehicles, and public transportation is low as well. This makes it easy for people to choose what they want and decide what is best for them. Along with that, competitors offer hybrids and other electric vehicles that have options to fit all customers. This makes it easy for customers to be lost to competitors, rather than going to Tesla that may be priced higher.
An example for this would be Mercedes Benz offering the Mercedes-EQ. This electric sedan is new and still a luxury vehicle, that many will look to own themselves. Despite being new to the market, Mercedes is still moving towards being a luxury option for people within the electric vehicle market.
References:
Kissinger, D. (2019, February 22). Tesla Inc.. Five forces analysis (Porter’s Model)