A. Name of Book: The Starbucks Experience
B. Author: Joseph Michelli
C. Background of Author: (Education, work experience, other books that he has written):
Dr. Joseph Michelli is an organization psychologist who has dedicated his career to studying successful businesses, both large and small. Prior to The Starbucks Experience, Dr. Michelli co-authored When Fish Fly: Lessons for Creating a Vital and Energized Workplace with John Yokoyama the owner of the world famous Pike Place Fish in Seattle.
Dr. Michelli transfers his knowledge of exceptional business practices through keynote addresses and workshops. These presentations provide ways to develop playful and productive workplaces that maximize productivity while fueling growth and employee morale.
In addition to his dynamic and entertaining international keynote presentations, Dr. Michelli and his staff provide:
o CEO consultation
o Corporate Coaching
o Leadership team Development Services
o Group facilitation and team-building strategies
D. Summary of Each chapter (100 words each): Mention each chapter – summarize in 100 words.
The Big Idea
The genius of Starbucks’ success lies in its ability to create personalized customer experiences,
secure customer loyalty, stimulate business growth, generate profits, and energize employees –
all at the same time. This has lead to unprecedented and astounding success; since 1992, Starbucks stock has risen by an astounding 5,000 percent.
In this celebrated book, Starbucks’ “secret recipe” has been condensed into five key principles.
PRINCIPLE 1: MAKE IT YOUR OWN
Senior management must find ways to get its partners to fully engage their passions and talents
while ensuring that individual partners’ differences are blended into a good uniform customer
experience.
It can be tough to find a balance between these two leadership responsibilities, but Starbucks has managed to do so through its principle of Make It Your Own. It has created a structure known as the “Five Ways of Being”, which is encapsulated in a pamphlet known as the Green Apron Book
Be welcoming
Defined as “offering everyone a sense of belonging”. Partners should do all they
can to create a place where people feel that they are a priority and where their day
can be brightened, at least for a moment.
Be genuine
At Starbucks, being genuine means to “connect, discover, and respond”. Connect. Customers have repeatedly shared experiences of Starbucks partners making a connection well beyond some formulaic greeting. Discover.Business success requires the discovery of each person’s needs and
individual situation.
Respond. Starbucks employees not only listen to their customers, but also take action immediately based on what they hear and learn from these experiences for future customer interactions.
Be considerate
Starbucks partners look beyond their needs and consider the needs of others – customers, potential customers, critics, co-workers, other shareholders, and even the environment – in sum, the entire universe of people and things Starbucks affects.
Be knowledgeable
Partners are encouraged to enhance their expertise in coffee and customer service. Value is always added to partners’ efforts when they gain work-related knowledge. In addition, as they become more informed, their value to the business, self-confidence, and the impact they have on others all increase
Be involved
This means nothing less than active participation in the store, in the company, and in the community – a “yes, I will” attitude where breakthrough products and service are created. There must be a move away from a “bare minimum is OK” mentality
PRINCIPLE 2: EVERYTHING MATTERS
All business is detail. When details are overlooked or missed, even the most patient customers can be frustrated and costly errors can occur. Leaders have to understand that they must take
care of both the “below-deck” (unseen aspects) and the “above-deck” (customer-facing components of the customer experience.
A small detail can sometimes make the difference between success and failure. Important details live in both that which is seen and that which is unseen by the customer
PRINCIPLE 3: SURPRISE AND DELIGHT
As early back as 1912, the Rueckheim brothers, who are behind the successful candy brand
Cracker Jack, already knew that adding a surprise to each package would dramatically increase
the appeal of their product.
In that vein, delight is the caramelized popcorn – the basic product customers get – while surprise
is the prize they get! Customers want the predictable and the consistent, while hoping for an
occasional positive twist or added value thrown in. Customer delight comes from surprise as well as predictability.
PRINCIPLE 4: EMBRACE RESISTANCE
To work with resistance effectively, you must distinguish between those people who really do
want their concerns resolved and those who simply want to complain. For some concerns,
listening is all that is required; for other types of resistance, direct action is required. Management
should know when listening is simply not enough.
PRINCIPLE 5: LEAVE YOUR MARK
We all end up leaving some mark on the world. What varies – and what is most important – is whether that mark is positive or negative. Do we give back more than we take, or do we take more than we give?
Successful leaders realize that a key component of their success is leaving a powerful and
positive mark in the communities in which their businesses operate. People want to do business
with, work for, invest in, and patronize socially conscious companies
E. 3 key learnings from the book:
• In knowledge and a service economy, we add value to business by enhancing customers experience.
• Embracing resistance involves a complex set of skills that enable businesses and individuals to create business and relationship opportunities when they are confronted with criticism, skepticism, irritation or wariness.
• Employee morale is 3 times higher in companies where community involvement is an integral part of the business model than in their less-involved counterparts.
F. How would you apply this in your personal life?
The five ways of being is very important concept that i can apply directly in my personal life, so as to build and maintain personal as well as professional relationships.
The five ways are:
1. Be Welcoming:
We need to be very welcoming to people and our environment in order to have a warm relationship with the individuals. We often aren’t welcoming to the guest coming to our house, and this often spoils relationships. So by been welcoming we can make people feel more comfortable with us.
2. Be genuine:
People interacting with us don’t always want to be our best friends but they want a feeling that our behavior towards them is genuine and not fake. The advantage of been genuine is it helps building mutual trust with the person we interact with.
3. Be Considerate:
We should always be considerate of needs of people and environment and respond to the situation in a considerate manner. By making consideration our own, we can look beyond our needs and consider the needs of other.
4. Be knowledgeable:
It’s very important for every one of us to love what we do and share this knowledge with others. We should be masters of our field of passion and should be able to educate the same to our surroundings.
5. Be involved:
Being involved means active participation of all the activities related to our friends, college programs or even our communities. This helps us in interacting with people from different background and also gives us an insight of the thinking of people with whom we interact.
G. How could you apply these learnings in your professional life?
Each one of the principles are given more attention, for example under the first principle of “Make it your own” the company further lists “be welcoming, be genuine, be considerate, be knowledgeable, and be involved” and stresses that these aren’t just for the retail level folks but for every area of the company. The various principles mentioned has common important point that customer is God. So if we make our company’s management according to the customers requirement be it administration, service or the HR policy, the process should be carried out in such a way that the end user or the customer should feel that the company really cares for the customer.
Although The Starbucks Experience is geared for businesses, its ideas can also be powerful for the individual desiring to make a difference in life. One of the central tenets of the Starbucks way is relationship building. Anyone can add coffee grounds to water and call it a drink. But the relationship that is built between barista and customer, over time, can transcend coffee and pastries. Likewise, humanity was not meant to live in a vacuum or on a deserted island. We crave relationships and will acquire them as best we know how. This is only natural, considering that God created people in order to be in an active relationship with them. Perhaps churches and other business organizations should take a good look at the value of relationships to Starbucks, because they’re obviously heading in the right direction.
Monday, October 11, 2010
Friday, December 18, 2009
CHOOSE YOUR WIFE
LIFE HAS TAKEN MANY LEAPS AND BOUNCES,
BUT THAT DIDNT HELP ME TO REDUCE SOME OUNCES.
THATS THE BEAUTY OF GIFTED LIFE,
ITS MORE SWEETER THAN YOUR NIEGHBOUR'S WIFE.
EVERY BACHELOR SEES OUT FOR A WIFE'
AND ALSO SEES THAT SHE IS A BLUNT KNIFE.
LET ME GUIDE YOU WITH EXPERIENCE I HAVE,
THE WIFE SHOULD NOT MAKE YOU CRAVE.
WIFE IS A GIRL WHO IS SEXY AND HOT,
ATLEAST YOU CAN BE A PART OF THE TALKING LOT.
SHE SHPULD BE A GIRL WITH LOTS OF MONEY,
AND SHOULD BE AS SWEET AS FRESH HONEY.
SHE SHOULD BE WORKING FOR LONG HOURS,
ALSO HER OFFICE SHOULD GIVE HER CARS,
LONG HOURS WILL HELP YOU TO FLIRT WITH OTHERS WIVES,
AND INCREASE YOUR EXPERIENCE AS EVERY HOUR DIES.
ALSO TAKE CARE BY LOOKING AT YOUR IN-LAWS,
TRY TO FIND VARIOUS TYPES OF FLAWS.
ON A SERIOUS NOTE, DONT OBEY ANYTHING MENTIONED UP,
JUST LOOK AT THE NATURE OF GIRL AND SIT IN THE MARRIAGE CUP.
BY:
DHAVAL MISTRY
BUT THAT DIDNT HELP ME TO REDUCE SOME OUNCES.
THATS THE BEAUTY OF GIFTED LIFE,
ITS MORE SWEETER THAN YOUR NIEGHBOUR'S WIFE.
EVERY BACHELOR SEES OUT FOR A WIFE'
AND ALSO SEES THAT SHE IS A BLUNT KNIFE.
LET ME GUIDE YOU WITH EXPERIENCE I HAVE,
THE WIFE SHOULD NOT MAKE YOU CRAVE.
WIFE IS A GIRL WHO IS SEXY AND HOT,
ATLEAST YOU CAN BE A PART OF THE TALKING LOT.
SHE SHPULD BE A GIRL WITH LOTS OF MONEY,
AND SHOULD BE AS SWEET AS FRESH HONEY.
SHE SHOULD BE WORKING FOR LONG HOURS,
ALSO HER OFFICE SHOULD GIVE HER CARS,
LONG HOURS WILL HELP YOU TO FLIRT WITH OTHERS WIVES,
AND INCREASE YOUR EXPERIENCE AS EVERY HOUR DIES.
ALSO TAKE CARE BY LOOKING AT YOUR IN-LAWS,
TRY TO FIND VARIOUS TYPES OF FLAWS.
ON A SERIOUS NOTE, DONT OBEY ANYTHING MENTIONED UP,
JUST LOOK AT THE NATURE OF GIRL AND SIT IN THE MARRIAGE CUP.
BY:
DHAVAL MISTRY
Friday, December 11, 2009
HOW TO DEAL WITH FAILURE
Dean Shepherd, a professor of entrepreneurship at the Kelley School of Business at Indiana University, knows a few things about failure. Shepherd became interested in the subject as a doctoral student, when his father lost his longtime business. “He clammed up, denied that the business had gone and never spoke about his emotions,” Shepherd said during our recent conversation. His father’s reaction led to Shepherd’s eventual book From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of Your Mistakes. Here is some of his advice.
The right and wrong ways to deal with failure
Needless to say, Shepherd’s father did not react to his failure in a healthy way. “If you don’t talk, you keep emotions down, but after awhile you have a severe reaction,” Shepherd says. However, talking about your failures too much can also be unhealthy, Shepherd warns, as constantly discussing emotions causes them to escalate.
The best way to deal with failure, then, is to find the middle ground between these two paths. “People usually feel comfortable talking or not talking, but we need to do both.” In other words, learn to talk about your reaction to failure, but don’t wallow in it. Shepherd says it’s this strategy of oscillating between talking and not talking that allows us to learn from our mistakes.
Three tips for facing failure
Here are a few of Shepherd’s additional suggestions for dealing with failure in a healthy way:
• 1. Address “secondary” causes of stress: When confronting a failure, it’s important to take care of the other things that need tending to as a result of that failure. Shepherd shares an example: “If you’re an entrepreneur and your business fails, you might have to sell the house, switch your children’s schools, look for a job. As you do these things, when you turn back and think about the failure, the enormity is less.”
• 2. Separate yourself from the failure: “Just because your business failed doesn’t mean you’re a failure,” Shepherd says. It’s important for people to actively work on separating their identity from their failure in order to move on.
• 3. Don’t let failure become normalized: “If we end up failing a lot, failure can become normalized, and when we fail, we don’t feel any emotional reaction,” says Shepherd. “That may sound good, but if you become desensitized to failure, you’ll become desensitized to commitment. This creates a bad cycle: you have less investment in your endeavor, so you fail, and you don’t learn from it.”
Finally, Shepherd advises people to keep the big picture in mind when dealing with failure. “Learn from past failures so you don’t make the same mistakes again. If we think of our projects as a series or a stream, we can be successful overall, even though we may fail at any particular one of them.”
The right and wrong ways to deal with failure
Needless to say, Shepherd’s father did not react to his failure in a healthy way. “If you don’t talk, you keep emotions down, but after awhile you have a severe reaction,” Shepherd says. However, talking about your failures too much can also be unhealthy, Shepherd warns, as constantly discussing emotions causes them to escalate.
The best way to deal with failure, then, is to find the middle ground between these two paths. “People usually feel comfortable talking or not talking, but we need to do both.” In other words, learn to talk about your reaction to failure, but don’t wallow in it. Shepherd says it’s this strategy of oscillating between talking and not talking that allows us to learn from our mistakes.
Three tips for facing failure
Here are a few of Shepherd’s additional suggestions for dealing with failure in a healthy way:
• 1. Address “secondary” causes of stress: When confronting a failure, it’s important to take care of the other things that need tending to as a result of that failure. Shepherd shares an example: “If you’re an entrepreneur and your business fails, you might have to sell the house, switch your children’s schools, look for a job. As you do these things, when you turn back and think about the failure, the enormity is less.”
• 2. Separate yourself from the failure: “Just because your business failed doesn’t mean you’re a failure,” Shepherd says. It’s important for people to actively work on separating their identity from their failure in order to move on.
• 3. Don’t let failure become normalized: “If we end up failing a lot, failure can become normalized, and when we fail, we don’t feel any emotional reaction,” says Shepherd. “That may sound good, but if you become desensitized to failure, you’ll become desensitized to commitment. This creates a bad cycle: you have less investment in your endeavor, so you fail, and you don’t learn from it.”
Finally, Shepherd advises people to keep the big picture in mind when dealing with failure. “Learn from past failures so you don’t make the same mistakes again. If we think of our projects as a series or a stream, we can be successful overall, even though we may fail at any particular one of them.”
Wednesday, December 2, 2009
MANAGING MANAGEMENT
this article is solely dedicated to management aspirants and all of those who have got into this fuss.
management is a great fuss but at the end of tit you are out as bright as the shirt shown in tide (washing powder) ka advertise. but on a serious note t his is one course in your life that i bet sure that you would never regret.
Lately, whenever someone who holds an MBA does something ethically questionable, it has become fashionable not to blame the person, but her degree.
What comes to our minds when we talk about IIMs, XLRI, Jamnalal Bajaj, FMS, etc...? A community of world's leading business thinkers, outstanding peers, accomplished executives, salaries like non-terminating number series, slick professionals with their think pads, great professors with their management mantras, brilliant students exuberating self-confidence. Life at a B-school offers much more than all this.
Two years in a B-school prepares managers of tomorrow. Even though students enter into a B-school with a specialization in their minds but B-school provides them with an opportunity to think upon his specialization again. In most of the B-schools, first year is common across all the specialisations, and after 1st year, students go in for their summer training in different corporates. During this 1st year, students do their complete SWOT analysis (Strength, Weakness, Opportunities and Threat) and then they choose upon their specialization. Even during summer placements, students choose their industry on the basis of their future plans. Generally, marketing students choose FMCGs (Fast Moving Consumer Goods) companies or Consumer Durables because of the higher customer interface and challenges. A finance student prefers banks or other financial institution because of the financial exposure which these companies provide. Similarly, a Systems or an Information Technology specialist will have his dream lying in working with companies like Infosys, Wipro, Polaris, etc.
A typical day starts at 6.00 in the morning by grabbing a pink business paper, analyzing the current business scenario. A quick breakfast at 8.30 in the morning, a strategy development session at 11.00 am, a canteen refresher meal at 3:00 in the afternoon while having a light talk with friends and professors, a presentation at 6.00 in the evening and a field survey at 8.00 in the night is just a glimpse of a peculiar day in a B-school. Not to mention that in between the available time, you would have analyzed Reliance Infocomm strategy, Bharti's deviation from its core competency, India's remarkable GDP growth, effect of the weakening dollar, etc.
Most prospective students know that the academic experience at a B-school is rigorous and challenging. It prepares graduates to succeed in managerial endeavor.
The pride of the Institute is over 4000 alumni, working in highly prestigious positions in Fortune 500 and top 100 Indian companies.
But that's only half the story...
B-school is a place that's stimulating, exciting, and fun. A place that has something interesting happening every day of the year. A place that encourages students to pursue their interests and explore their imagination.
From being an integral part of the Annual Paper Presentation in Business Conferences like Strategym, to writing a Business Plan for a start-up company, to helping a non-profit organization better achieve its mission, forms the part of day-to-day life in a B-school. The B-school experience is also about inspiring future managers to ask the probing questions and discover innovative answers as they develop the skills that they need to be leaders and architects of their own destiny.
Perseverance is the key to acquire that much wanted managerial skill set in a B-school. K. V. Kamath from ICICI, Manvinder Singh Vindi Banga from HLL or Ajay Piramal from Nicolas Piramal, all management graduates from top B-schools, certainly will agree with this underlying fact. One has to work hard and the outstanding faculty at a B-school plays a vital role in developing the managerial potential of students. In most of the reputed B-schools, the faculty belongs to the Business Mecca's of the world like Harvard, Stanford, Kellogg or Wharton or he may be FPM from IIMs. This faculty provides a rare mix of competence in both the theoretical aspects of management and the applied working knowledge of its practical aspects.
Apart from the full-time faculty, the visiting faculty which exposes students to actual business environment consists of various industry stalwarts. When they are not advancing business knowledge in diverse fields and working with business leaders around the world, they are unusually devoted to teaching you. Core competency from C. K. Prahlad, Advertising insights from Piyush Pandey or Alyque Padamsee will be a treat to the mental faculties of an aspiring manager. B-school also provides with an opportunity to interact with the alumni of the alma mater who have already proved their mettle in the corporate world in their respective arenas. They visit the institute and share their experiences with the budding managers.
Regular guest lectures at the B-school are a big attraction amongst the student communities. Students get an opportunity to interact with who's who of business world. Who else can tell you better about the success of Bharti than Sunil Mittal himself? How about a lecture from Narayan Murthy on Corporate Governance, or say, a brief interaction with Azim Premji on India's future outsourcing scenario.
A student generally studies between 40-45 courses in a B-school like Statistics, Financial Management, Strategy Development, Organisational Behaviour, Business Communication, Macro and Micro Economics, to name a few. He also gets corporate exposure through his summer projects, winter projects, etc., depending upon his area of interest / specialization.
One of the biggest benefits which a B-school offers is the contacts that one makes with one's classmates. Tomorrow everybody will be a manger in one or the other industry and when the whole of the batch meets during their alumni get-together once a year, the NOSTALGIA is overwhelming.
i have learnt many things from this articles which i found on the net while surfing and i am sure it will help all management aspirants and all of those who are undergong it can relate all this to what is going to come across in MBA.
take care
management is a great fuss but at the end of tit you are out as bright as the shirt shown in tide (washing powder) ka advertise. but on a serious note t his is one course in your life that i bet sure that you would never regret.
Lately, whenever someone who holds an MBA does something ethically questionable, it has become fashionable not to blame the person, but her degree.
What comes to our minds when we talk about IIMs, XLRI, Jamnalal Bajaj, FMS, etc...? A community of world's leading business thinkers, outstanding peers, accomplished executives, salaries like non-terminating number series, slick professionals with their think pads, great professors with their management mantras, brilliant students exuberating self-confidence. Life at a B-school offers much more than all this.
Two years in a B-school prepares managers of tomorrow. Even though students enter into a B-school with a specialization in their minds but B-school provides them with an opportunity to think upon his specialization again. In most of the B-schools, first year is common across all the specialisations, and after 1st year, students go in for their summer training in different corporates. During this 1st year, students do their complete SWOT analysis (Strength, Weakness, Opportunities and Threat) and then they choose upon their specialization. Even during summer placements, students choose their industry on the basis of their future plans. Generally, marketing students choose FMCGs (Fast Moving Consumer Goods) companies or Consumer Durables because of the higher customer interface and challenges. A finance student prefers banks or other financial institution because of the financial exposure which these companies provide. Similarly, a Systems or an Information Technology specialist will have his dream lying in working with companies like Infosys, Wipro, Polaris, etc.
A typical day starts at 6.00 in the morning by grabbing a pink business paper, analyzing the current business scenario. A quick breakfast at 8.30 in the morning, a strategy development session at 11.00 am, a canteen refresher meal at 3:00 in the afternoon while having a light talk with friends and professors, a presentation at 6.00 in the evening and a field survey at 8.00 in the night is just a glimpse of a peculiar day in a B-school. Not to mention that in between the available time, you would have analyzed Reliance Infocomm strategy, Bharti's deviation from its core competency, India's remarkable GDP growth, effect of the weakening dollar, etc.
Most prospective students know that the academic experience at a B-school is rigorous and challenging. It prepares graduates to succeed in managerial endeavor.
The pride of the Institute is over 4000 alumni, working in highly prestigious positions in Fortune 500 and top 100 Indian companies.
But that's only half the story...
B-school is a place that's stimulating, exciting, and fun. A place that has something interesting happening every day of the year. A place that encourages students to pursue their interests and explore their imagination.
From being an integral part of the Annual Paper Presentation in Business Conferences like Strategym, to writing a Business Plan for a start-up company, to helping a non-profit organization better achieve its mission, forms the part of day-to-day life in a B-school. The B-school experience is also about inspiring future managers to ask the probing questions and discover innovative answers as they develop the skills that they need to be leaders and architects of their own destiny.
Perseverance is the key to acquire that much wanted managerial skill set in a B-school. K. V. Kamath from ICICI, Manvinder Singh Vindi Banga from HLL or Ajay Piramal from Nicolas Piramal, all management graduates from top B-schools, certainly will agree with this underlying fact. One has to work hard and the outstanding faculty at a B-school plays a vital role in developing the managerial potential of students. In most of the reputed B-schools, the faculty belongs to the Business Mecca's of the world like Harvard, Stanford, Kellogg or Wharton or he may be FPM from IIMs. This faculty provides a rare mix of competence in both the theoretical aspects of management and the applied working knowledge of its practical aspects.
Apart from the full-time faculty, the visiting faculty which exposes students to actual business environment consists of various industry stalwarts. When they are not advancing business knowledge in diverse fields and working with business leaders around the world, they are unusually devoted to teaching you. Core competency from C. K. Prahlad, Advertising insights from Piyush Pandey or Alyque Padamsee will be a treat to the mental faculties of an aspiring manager. B-school also provides with an opportunity to interact with the alumni of the alma mater who have already proved their mettle in the corporate world in their respective arenas. They visit the institute and share their experiences with the budding managers.
Regular guest lectures at the B-school are a big attraction amongst the student communities. Students get an opportunity to interact with who's who of business world. Who else can tell you better about the success of Bharti than Sunil Mittal himself? How about a lecture from Narayan Murthy on Corporate Governance, or say, a brief interaction with Azim Premji on India's future outsourcing scenario.
A student generally studies between 40-45 courses in a B-school like Statistics, Financial Management, Strategy Development, Organisational Behaviour, Business Communication, Macro and Micro Economics, to name a few. He also gets corporate exposure through his summer projects, winter projects, etc., depending upon his area of interest / specialization.
One of the biggest benefits which a B-school offers is the contacts that one makes with one's classmates. Tomorrow everybody will be a manger in one or the other industry and when the whole of the batch meets during their alumni get-together once a year, the NOSTALGIA is overwhelming.
i have learnt many things from this articles which i found on the net while surfing and i am sure it will help all management aspirants and all of those who are undergong it can relate all this to what is going to come across in MBA.
take care
Sunday, November 29, 2009
THE PEOPLE WHO MEAN ALOT TO ME
it may appear stange for you why i am i posting this but by the end of the blog you will get to know.
there are 7 people in my life for whom i am ready to do anything for them. they are(in no particular order):
1. Mukesh Mistry(dad)
2. Maya Mistry(mom)
3. Siddhika Raut
4. Ketaki Hardikar
5. Amit Mhatre
6. Sivadesh Pillai
7. Rohit Nair
i have posted this for 2 reasons.
the first been that i want make my friends know what i feel for them and secondly to all the readers of my blog.
see its very important to have a circle of people for whom you are ready to do anything.
the reason been the motivation factor.
the problems that you face and you come across can immediately find solution to that problem.
also they imbibed alot of self confidence in ourselves.
you may bs new thing that i have learned in management that people who mean alot for you highly influence your lifestyles.
you all have such circle of friends, but i request you to tell all of the people in that circle that what they mean to you. and see the change in motivation that you get. i swear it would be great.
this is just the way i felt from my circle.
i know i am too unmatured to give this philosophy but i swear it will change you as a person.
take care.
there are 7 people in my life for whom i am ready to do anything for them. they are(in no particular order):
1. Mukesh Mistry(dad)
2. Maya Mistry(mom)
3. Siddhika Raut
4. Ketaki Hardikar
5. Amit Mhatre
6. Sivadesh Pillai
7. Rohit Nair
i have posted this for 2 reasons.
the first been that i want make my friends know what i feel for them and secondly to all the readers of my blog.
see its very important to have a circle of people for whom you are ready to do anything.
the reason been the motivation factor.
the problems that you face and you come across can immediately find solution to that problem.
also they imbibed alot of self confidence in ourselves.
you may bs new thing that i have learned in management that people who mean alot for you highly influence your lifestyles.
you all have such circle of friends, but i request you to tell all of the people in that circle that what they mean to you. and see the change in motivation that you get. i swear it would be great.
this is just the way i felt from my circle.
i know i am too unmatured to give this philosophy but i swear it will change you as a person.
take care.
CHARLIE'S FUNDAS (THIS MAY CHANGE THE PERSON IN YOU)
Hello everyone,
still no followers on my blog but i would continue posting matters for good.
recently i got a text message about # main fundas given by charlie chaplin. this gave a new dimension to the way i live my life.
i wud like to share this with you.
the three fundas are:
1.Nothin is permanent in this world, not even our troubles.
2. I like walking in rain, because nobody can see my tears.
3. (most important) The most wasted day in life is the day on which we have not laughed.
this three fundas are to be perceived in our own way and would really help to support or thinking process. its upto us how we perceive.
still no followers on my blog but i would continue posting matters for good.
recently i got a text message about # main fundas given by charlie chaplin. this gave a new dimension to the way i live my life.
i wud like to share this with you.
the three fundas are:
1.Nothin is permanent in this world, not even our troubles.
2. I like walking in rain, because nobody can see my tears.
3. (most important) The most wasted day in life is the day on which we have not laughed.
this three fundas are to be perceived in our own way and would really help to support or thinking process. its upto us how we perceive.
Tuesday, November 24, 2009
CASE STUDY ON ODEWALLA JUICE COMPANY
CASE STUDY
ON
ODWALLA JUICE COMPANY
FOR THE EVENT
MUMBAI FOOTPRINTS’O9
(SIMC)
INSTITUTE NAME:
CHETANA’S R.K. INSTITUTE OF MANAGEMENT AND RESEARCH
PARTICIPANT’S NAME
KETAKI G. HARDIKAR
DHAVAL M. MISTRY
AJIT A. CHAVAN
BACKGROUND
Odwalla (pronounced "odewalla") is the health-conscious juice company which began a couple of decades ago when Greg Steltenpohl, Gerry Percy and Bonnie Bassett began squeezing fresh oranges on a $200 hand juicer.
ISSUES
On October 30, 1996, everything changed for the Odwalla Company. With the corporate vision in place and many precautionary tactics, Odwalla still could not avoid E. Coli.With a significant effect seen on the consumers FDA found a link between the Odwalla apple juice and the dangerous bacteria.
Sales fell by almost 90%, and the company’s stock price plummeted by 34%. More than 20 personal-injury lawsuits were filed and the future for the company did not look promising.
ACTIONS FORMULATED
As the company had gained a great name in the market and was one of the trusted brands in the market it is sure that the company would be receiving great media attention and would be talk oof the town. On this entire basis we have formulated our strategies.
As Odwalla was a big name in the juice making industry and a contamination case was certainly a major dent in reputation of the company. As a PR consultant certain strategies to be formulated to bring back the company from the losses and lost market name are mentioned below:
1. Print/visual media best suited for the products target audience, should be chosen to convey sincere apology.
2. As the company had gained a great name in the market and was one of the trusted brand in the market it is sure that the company would be receiving great media attention and would be a talk of the town. Hence it is of utmost importance for the company to maintain transparency about their function and also to admit the presence of contamination, as there always exists an element of human error.
3. Recall all the stocks available in the market so that the spread of E.Coli is prevented.
4. Compensation for all those affected by the viral outspread.
5. Clear and correct information to be provided to the media by the spokesperson of the company in order to prevent the spread of rumours.
6. All channels of communication from the consumer to the company should be kept open and tactfully convince the consumer and rebuild the trust.
7. Use the media coverage that company is getting, to communicate the message to consumer and rebuild their trust.
8. Set up hotlines and websites to answer all the queries of the consumer.
9. Continuous plant visits would be organized and that too by the representatives from FDA, and regular publishing of their reports in the news media, so the company will able to redevelop the trust in the market.
10. Company should adopt affordability Strategy
11. From recent experience of other companies restoration of consumer and hence trade confidence is of utmost importance
ECONOMIC BUDGETING AND ITS EFFECTS
As representative of the PR agency the plan devised has to be a one with maximum impact and minimum monetary inputs. Hence the plan chalked out can be economically suitable for Odwalla; the economic budget is as follows:
The company with the gross profit of around $1100Mn certainly has the capacity to bounce back in the market, by maintaining a low budget to overcome their declining market position.
So the plans formulated as a representative as a PR agency is economical as the core area of expenditure are only the:
1. Remuneration given to the families of those affected by contamination.
2. Advertisement cost for Public Apology.
3. Penalties paid to the FDA and other regulatory bodies.
All the other action plans given by us, require minimal expenditure as they are Intra Company resources put to judicial use.
ON
ODWALLA JUICE COMPANY
FOR THE EVENT
MUMBAI FOOTPRINTS’O9
(SIMC)
INSTITUTE NAME:
CHETANA’S R.K. INSTITUTE OF MANAGEMENT AND RESEARCH
PARTICIPANT’S NAME
KETAKI G. HARDIKAR
DHAVAL M. MISTRY
AJIT A. CHAVAN
BACKGROUND
Odwalla (pronounced "odewalla") is the health-conscious juice company which began a couple of decades ago when Greg Steltenpohl, Gerry Percy and Bonnie Bassett began squeezing fresh oranges on a $200 hand juicer.
ISSUES
On October 30, 1996, everything changed for the Odwalla Company. With the corporate vision in place and many precautionary tactics, Odwalla still could not avoid E. Coli.With a significant effect seen on the consumers FDA found a link between the Odwalla apple juice and the dangerous bacteria.
Sales fell by almost 90%, and the company’s stock price plummeted by 34%. More than 20 personal-injury lawsuits were filed and the future for the company did not look promising.
ACTIONS FORMULATED
As the company had gained a great name in the market and was one of the trusted brands in the market it is sure that the company would be receiving great media attention and would be talk oof the town. On this entire basis we have formulated our strategies.
As Odwalla was a big name in the juice making industry and a contamination case was certainly a major dent in reputation of the company. As a PR consultant certain strategies to be formulated to bring back the company from the losses and lost market name are mentioned below:
1. Print/visual media best suited for the products target audience, should be chosen to convey sincere apology.
2. As the company had gained a great name in the market and was one of the trusted brand in the market it is sure that the company would be receiving great media attention and would be a talk of the town. Hence it is of utmost importance for the company to maintain transparency about their function and also to admit the presence of contamination, as there always exists an element of human error.
3. Recall all the stocks available in the market so that the spread of E.Coli is prevented.
4. Compensation for all those affected by the viral outspread.
5. Clear and correct information to be provided to the media by the spokesperson of the company in order to prevent the spread of rumours.
6. All channels of communication from the consumer to the company should be kept open and tactfully convince the consumer and rebuild the trust.
7. Use the media coverage that company is getting, to communicate the message to consumer and rebuild their trust.
8. Set up hotlines and websites to answer all the queries of the consumer.
9. Continuous plant visits would be organized and that too by the representatives from FDA, and regular publishing of their reports in the news media, so the company will able to redevelop the trust in the market.
10. Company should adopt affordability Strategy
11. From recent experience of other companies restoration of consumer and hence trade confidence is of utmost importance
ECONOMIC BUDGETING AND ITS EFFECTS
As representative of the PR agency the plan devised has to be a one with maximum impact and minimum monetary inputs. Hence the plan chalked out can be economically suitable for Odwalla; the economic budget is as follows:
The company with the gross profit of around $1100Mn certainly has the capacity to bounce back in the market, by maintaining a low budget to overcome their declining market position.
So the plans formulated as a representative as a PR agency is economical as the core area of expenditure are only the:
1. Remuneration given to the families of those affected by contamination.
2. Advertisement cost for Public Apology.
3. Penalties paid to the FDA and other regulatory bodies.
All the other action plans given by us, require minimal expenditure as they are Intra Company resources put to judicial use.
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