Chapter 13, Problem 2.3CFA

The success of a company depends on how creativity and innovative the managers are and their ability to implement a business growth strategy that moves the organisation into a forward momentum outpacing the rivals in the business arena. It is now entrepreneurial lore that creativity and innovation is a must have trait for any corporate leader. However, there are many factors that hinder creativity and innovation. The success of a company can only be attained when these factors are overcome. Discuss the factors that hinder creativity and innovation and how they can be overcome.

Kraft Foods, the 90-year-old darling of the consumer packaged-goods industry, moved to improve its long-term performance by restructuring the corporation.  This has been one of the latest moves by CEO Irene Rosenfeld.  She was brought in to turn around the company’s performance in 2012. Irene Rosenfeld was the CEO of Kraft Foods from 2012 to November 2017.  She was considered a successful entrepreneur. Discuss in detail the characteristics of a successful entrepreneur and indicate how CEO and entrepreneur Irene Rosenfeld demonstrates each characteristic.  Note it is these characteristics which earned her the title of one of the 100 most powerful women in the world by Forbes.

20 years ago, I opened a coffee shop in a small town in New Jersey. My small business grew, and after 12 years, I have opened more than 7 coffee shops in different parts of the state. I decided to retire in Costa Rica and enjoy life with my family. My biggest mistake was leaving my best friend, the most trusted employee, in charge of my stores. He had been in the company since its foundation and always was diligent. However, soon after I left for Costa Rica, my friend started his own coffee shop business while still managing my shops. Two years later, after wondering why sales in my coffee shops had declined, I decided to come in person to find out why. To my surprise – and frankly to my sadness-, my friend had opened four coffee shops near (one of them in front of) my businesses. He claimed that he opened his stores near my stores to take care of my business and his business at the same time. However, he never mentioned to me that he had opened his own stores. More appalling, while…

1. Choose a CEO or a promise firm that you believe exemplifies strategic leadership? 2. What actions does this CEO take that demonstrate effective strategic leadership?

Some entrepreneurship authors argue that writing a business plan is a futile exercise. Do you agree with this assumption (yes or no)? Explain. Also, Is there a difference between writing a business plan and writing a social venture plan? Explain.

You and a partner plan to start a business. You want to schedule a time to sit down together and develop a business plan. Your partner says, “What’s the point? We both know what we want to do, so I think we can skip the formal plan.” How would you explain the importance of developing an organizing a business plan to your partner? And how would you convey the significance of a vision, a mission statement, and goal-setting as it relates to your business plan?

How many of the actions taken by Carnival do you believe were included within their existing strategic plan? What advanced notice and control did Carnival have over the situation?

An entrepreneur has the following characteristics EXCEPT:   Select one: a. Accepts risks or failure b. Initiative-taker c. Organized d. Apathy     General Foods' introduction of a compact cereal box in response to the problem that the available boxes did not fit well on the shelf was not successful, as the problem of package size had little effect on actual purchasing behavior. To ensure the best results, this method should be used primarily to identify product ideas for further evaluation.   Select one: a. Customer Survey b. Focus Groups c. Problem Inventory Analysis d. Brainstorming   Although there is some variation in the distribution of adopters of new technology products and services, the single most common pattern is a   Select one: a. Poisson Distribution b. Binomial Distribution              c. Beta Distribution      d. Normal Distribution     In order to cross the gap and reach the take-off stage, the most important aspect is that you must:   Select…

ABC Corporation is a multinational corporation facing declining profits, increased competition, and employee turnover. As a manager within the organization, how would you apply change management principles to address these challenges and improve the company's performance?