Categories
Uncategorized

The Shaping: Americana A 400-Year History of American Capitalism by Bhu Srinivasan

Welcome back to The Professional Student. Today, I’ll be posting a few different entries to catch up on the reading I’ve been doing over the weeks, as I’ve enjoyed engulfing myself in the pages of the book.


Moving past the colonization of America, the book progresses from the popularity and successful farming of tobacco to The American Revolution, the cotton industry, and the slave labor that was used to make those two industries successful.


The Thirteen Colonies won their independence from Great Britain and, ironically enough, used African slave labor to reap the economic benefits produced by tobacco and cotton farming. It is no surprise, considering how the indigenous people of America were slaughtered in genocide.


The past of America is not pretty or pleasant. Still, we must continue to study it, learn from it, acknowledge it and privilege, and move forward if a genuinely equal society is ever going to emerge where all people, regardless of race, religion, culture, ethnicity, gender, and sexual orientation, are treated the same. It’s ironic how minorities can be discriminated against so openly in the United States, but that discrimination ends when it comes to paying Uncle Sam his tax money. Taxes are what we pay to live in this free country, yet so many are still not afforded the simple freedoms offered here. Tonight, reflect on yourself. Take a deep dive into your upbringing, daily life, personal biases, and reflect. What can you do to become better?


The steam engine was invented in the early stages of the Industrial Revolution. Steam power, usually fueled by burning coal, became the source for machines, boats, and different vehicles that allowed commodities to be mass-produced at a reduced cost. More importantly, thanks to John Fitch, steam engines could now power boats.


Thinking about the early stages of the Industrial Revolution in the late 1700s makes me realize how fast technology has progressed over the past couple of hundred years. I would say even more so now, as the rate at which technology can advance and evolve is staggering and will only continue getting faster. Can we keep up, however? The technological landscape is constantly changing, and businesses must keep adapting, learning, and adjusting to be successful. They must also find people who are technological experts to aid in pursuing whatever each organization defines success as.


It is fascinating to revisit how the traditional family model that involved raising a large family to work the farm and ensure survival transformed into an urbanized landscape with large cities taking full advantage of capitalism to fund business thanks to technology and modern farming techniques. But I am getting ahead of myself.


Following the steam engine came canals, the railroads, the telegraph, the gold rush, and the American Civil War, which was sparked over slavery ending. I also want to acknowledge the industrial fathers of America, Cornelius Vanderbilt, John D. Rockefeller, Andrew Carnegie, J.P. Morgan, and Henry Ford. All these names should be recognizable on some level as they truly encompassed innovation, capitalism, and the overall “American Dream.”


Vanderbilt started with steamships and ended with railroads. Carnegie owned the steel industry. Rockefeller founded Standard Oil and ruthlessly destroyed competition to create a monopoly in the oil industry. Morgan bought and reorganized businesses to make them profitable and stable. Maybe he was the first venture capitalist? Random food for thought. And we all know what Henry Ford did. Though he did not invent the assembly line, he streamlined the process with Model T production and enabled other businesses to do the same.

References

Srinivasan, B. (2018). Americana: A 400-year history of American capitalism. Penguin Press.

Categories
Uncategorized

The Professional Student: Porter’s Value Chain Analysis, Subway Sandwiches

Welcome back to The Professional Student! In continuing with the theme of examining Subway Sandwiches, graduate students at Western Carolina University were challenged to create a value chain analysis.

Please enjoy my presentation on YouTube, and as always, don’t forget to comment. Thanks for stopping by. I appreciate and value everyone’s feedback and support! 

References

How can we help?. Franchising FAQs. (n.d.). https://www.subway.com/en-ge/ownafranchise/franchisingfaqs?ak_r=3af03b25-0373-47e0-aae4-48e5a019c494#a12

How does training work | Subway | indeed.com. (n.d.-a). https://www.indeed.com/cmp/Subway/faq/how-does-training-work?quid=1cfarq6dq5j58fr4

Jurevicius, O. (2024, March 19). Subway SWOT analysis 2023 – SM insight. Strategic Management Insight. https://strategicmanagementinsight.com/swot-analyses/subway-swot-analysis/#:~:text=High%20employee%20turnover.,to%20overall%20costs%20of%20Subway.

Karthikeyan, A. (2023, May 4). Subway’s marketing strategies: Fresh Thinking, fresh eating. StartupTalky. https://startuptalky.com/marketing-strategies-of-subway/ 

McMahon, C. (2024, February 26). What is the average income of a subway restaurant franchise owner?. StartupNation. https://startupnation.com/start-your-business/whats-the-average-income-of-a-subway-restaurant-franchise-owner/#:~:text=Some%20said%20franchisees%20should%20expect,%24150%2C000%20a%20year%20or%20more.

Our commitment. (n.d.). https://www.subway.com/en-ge/aboutus/socialresponsibility/ouroverallcommitment 

Peterson, H. (n.d.). Subway is one of the cheapest restaurant chains to open – here’s a breakdown of all the costs. Business Insider. https://www.businessinsider.com/what-it-costs-to-open-a-subway-2015-3 

Schroeder, E. (2022, June 1). Subway focuses on franchise development strategy. Baking Business. https://www.bakingbusiness.com/articles/56499-subway-focuses-on-franchise-development-strategy

Subway management salary in North Carolina – ziprecruiter. (n.d.-b). https://www.ziprecruiter.com/Salaries/Subway-Management-Salary–in-North-Carolina

What is a value chain analysis? 3 steps: HBS Online. Business Insights Blog. (2020, December 3). https://online.hbs.edu/blog/post/what-is-value-chain-analysis 

Categories
Uncategorized

The Professional Student: “Greatest Marketing Campaigns” Magazine Advertisement Analysis

Hello, everyone, and welcome back to The Professional Student! This week, graduate students at Western Carolina University were challenged to analyze five magazine advertisements, keeping with the theme from the greatest marketing campaigns assignment. 

As I have posted previously, I will list the deliverables below for the analysis in case you’re just joining me for the first time.

The deliverables are composed of 5 different sections listed in the following order (Lahm & Lockwood, 2022):

  1. Describe the advertisement by product/service, company, brand, etc., and the focus. What was the appeal or technique that was used to evoke an emotional response? Include a link to the ad selected.
  2. What were the objectives of the campaign? To sell more? To inform customers about a new product feature? Were the objectives attainable and measurable, or were they time-specific? 
  3. Describe the target market that was the focus of the advertisement.
  4. What action does the advertisement want the audience to take? If action is taken, how will the audience member benefit from using the product? 
  5. Describe the value proposition of the product or service being offered in each advertisement. What are the specific reasons (product features and benefits) that would drive customers to purchase the product or service being sold in each advertisement? 

1. Old Spice: Smell like A Man, Man Advertising Campaign

The Smell Like a Man, Man magazine advertisement features old spice deodorant, body wash, and body spray with a beautiful background featuring the beach and ocean. The advertisement can be seen below.

https://www.strategian.in/post/case-study-on-old-spice-smell-like-a-man-man-campaign

A white horse is leaning into the display of hygiene products with a man sitting on his back. The man is shirtless in a pair of rolled-up jeans, tan boat shoes, and a matching tan belt, and his shirt is tied around his neck in a preppy manner like he is about to play a round of tennis. He has one hand on his hip, and the other is flat with his palm facing up, holding a bottle of body spray. His head is slightly tilted with a smirk and one slightly raised eyebrow to draw the viewer in. He is looking at you, and it is hilarious! His face is funny, and the notion of a man dressed the way he is dressed galloping about the beach with body spray on his palm like a serving tray full of drinks. The Old Spice Boat is displayed on the top right with the words “Old Spice” below it in classic Old Spice red. Under that, there is “SMELL LIKE A MAN, MAN.” 

Old Spice is owned by Proctor & Gamble, as I have previously discussed in the radio campaign advertisement blog. The consumer the advertisement is targeting is men who want to smell like a man, man! What’s the value proposition? Smelling like a man, of course! The objective of the advertisement is to sell a combination of Old Spice products. Interestingly enough, as I was reading about this campaign further, I discovered the reason behind this advertising was to encourage men to buy Old Spice products without taking away the fact that women enjoy using Old Spice products as well. 

This advertisement campaign ran from 2009-10, and according to an article in the New York Times, Old Spice spent $7.5 million advertising body wash in 2009, well under the $30 million spent by Axe body wash. However, in 2010, Old Spice was more aggressive than Axe and spent $11.4 million in the first quarter, whereas Axe only spent $3.6 million (Newman, 2010).

2. Nissan’s “Stay Home” COVID-19 Advertising Campaign

The second advertisement that I’ve chosen to look at is from Nissan, a popular Japanese vehicle manufacturer. Nissan serves many global markets, including Egypt, where this campaign was published. I really enjoyed looking at the two magazine advertisements that are shown in the link below.

https://www.adsoftheworld.com/campaigns/stay-home-8b153c9b-c5ac-4393-abdc-5a718cc8a38c

The first one has a Nissan symbol with a red backdrop. Below the symbol, the words “Innovation that excites” appear. Next is another display of words, “A safety Driven Lifestyle (value proposition). .” Below that is a vehicle bench seat displayed and set up like a living room space, complete with a floor lamp, table, and a house plant. To the right of the car seat couch, the words “Staying home with your family will save your life.” 

This was a very responsible and smart move for Nissan, and this advertisement would have served well in other markets outside of Egypt during a time of uncertainty. The use of the hashtag was also smart, as it highlights the widespread use of hashtags across several social media platforms. Hashtags place posts in related categories that pop up when users search for specific information. Using that particular hashtag could take people directly to Nissan’s social media posts or posts by users regarding Nissan. 

It wouldn’t be outrageous to think that most people who purchase vehicles value safety, especially a family vehicle where their loved ones will be passengers. Using the staying safe theme to highlight the safety of Nissan vehicles and the safety of staying home during the pandemic was smart. Nissan is demonstrating care and compassion while advertising its cars. I thought it was brilliant to use one of their vehicle bench seats in the same fashion as a couch in a living room. It looks warm and inviting, so Nissan’s are also safe, warm, innovative, exciting, and inviting!  A lot has been communicated in a straightforward ad, which I love.

The second advertisement is set up the same way with a few differences. Instead of a bench seat, there is a luxurious leather power bucket seat, almost recliner-like, complete with a gold side table, a vase of flowers, a reading book, a tall houseplant, and a beautiful light fixture hanging above it. The words “Enjoying the comfort of your home will save your life.” 

The same messages are being communicated, but I think both ads target two very different clients. In advertisement one, the bench seat is basic and made from cloth. Generally, cloth seating is more affordable than leather seating. The second advertisement seems more luxurious and aimed at customers who value luxury and comfort over practicality and price. It’s like looking at a base model vehicle versus the top-of-the-line trim level. 

In advertisement one, the target market is families or people looking for safety and practicality. In advertisement two, the target market is older people or people with more disposable income who value comfort and luxury. It doesn’t matter if you choose a base model or a top-of-the-line model because both will deliver innovation that excites a safety-driven lifestyle. 

Looking at Nissan’s financial data, sales in 2018 were strong at over 11 million Japanese yen. 2019 sales dipped slightly to just under $10 million Japanese yen. In 2020, sales dipped further to just under 8 million Japanese yen and have been going back up. In 2022, sales were at just above 10.5 million Japanese yen, which is almost on par with 2018 (Carlier, 2023). Looking at the amount spent on advertising, the numbers are very low compared to revenue (not bad). In 2018, Nissan spent just over 300,000 Japanese yen. The number continues to decline, and in 2020, Nissan spent 232,534 Japanese yen. In 2020, numbers were almost on par with what was spent in 2018, at 283,505 Japanese yen (Statista Research Department, 2023). I can see the correlation between what Nissan has spent on advertising and that year’s revenue. Of course, we have to take into account the pandemic and pandemic recovery, especially regarding the auto industry, as there were supply chain issues with microchips.

3. McDonald’s McMobile Advertising Campaign 

The McDonald’s McMobile campaign was targeted in North America and Canada, as the advertising agency was based in Montreal, Canada. A link for the advertisements is below.

https://www.adsoftheworld.com/campaigns/mcmobile

I found this advertisement to be simple yet effective. It was to the point, and I automatically understood what was being communicated. I had no particular feelings about the ad, but I don’t eat at McDonald’s. Displayed on the top right-hand corner of the advertisement are the classic McDonald’s golden arches with the words “Download. Order. Enjoy.” displayed. There is a burly background, and a woman holds her phone horizontally as if to take a photo. On her screen is a ham, cheese, and egg McMuffin. Similar images include a McCafe and a classic quarter-pounder. 

The value proposition is simple. Download the McDonald’s app, order, and enjoy your food. The target customer would be folks on the go who don’t want to deal with the time it takes to order and wait for food in person. This advertisement campaign was released in 2020, and McDonald’s grossed $19.21 billion globally, less than the previous year (Statista Research Department, 2024). There is nothing odd about the numbers because of the COVID-19 pandemic. McDonald’s spent over 650 million dollars on advertisements in 2020 globally (Statista Research Department, 2024).

4. Febreze Odor Chart Advertising Campaign

Nobody likes a bad smell, and Febreze is in the business of smelling good! This advertising campaign was released in Turkey, but it could have been successful anywhere as it is easy to understand and cleverly designed to represent a pie graph using smelly foods. Here is a link to the campaign. Like Old Spice, Febreze is owned by Proctor & Gamble.

https://www.adsoftheworld.com/campaigns/odor-chart

Three different advertisements are featured, all with Febreze Air in Ocean Mist. Advertisement one features a moldy wheel of cheese with a slice missing from it. Next to the mold wheel of cheese pie chart, a statistic states, “Bad odor makes it 84% harder to remember our memories.” As a chef, I appreciate this statement as it has been proven that smells can trigger memories. Nobody wants a bad or unpleasant memory triggered by a bad smell. 

In the second version of this advertisement, a red onion pie chart is featured, with the statistic “60% of the people who are exposed to bad odor has bad mood.” I don’t like to smell bad things, but I’m unsure about the truth regarding this. There are some grammatical errors, however. The “%” symbol is displayed on the wrong side of the number, and the “has” should have been “have a bad mood.” I’m not nitpicking, as this advertisement was in another country, but I noticed it. I completely understand how difficult it is to write in a foreign language and make an advertising campaign. I certainly could not make a Turkish advertisement. 

The last advertisement features a slice of a boiled egg pie chart with the statistic, “People stay up to 80% shorter on average in places with bad odor.” If your house stinks, your guests won’t want to be there. I like Febreze, and I think it has uses mainly in the bathroom as an after-spray deodorizer because it doesn’t matter how much you spray. If your home needs cleaning, no amount of Febreze can cover that up. Just clean your house! Most people don’t just slap on some deodorant daily without washing their pits, and if you do, that’s on you, but it isn’t going to be me! 

Some of the statistics made me laugh, and the use of stinky foods in the form of a pie chart was creative. The value proposition is clear: Febreze eliminates foul odors (to a point). Who is the target market? Anyone, I think, unless you’re scent-sensitive or allergic to strong smells. I also like the bright colors, as they grabbed my attention. The advertisements were simple and effective, which is something that I appreciate. 

I’ve discussed the financials of Proctor & Gamble in previous blog posts, so I will skip it and dive into something different. I’m curious to know how many brands that Proctor & Gamble owns. Proctor & Gamble is the 4th largest corporation in the world by market capitalization, and it’s Fortune’s 6th most admired company. Proctor & Gamble serves over 5 billion people globally with its brands (MMA, 2024). According to Levine (2024), “Proctor & Gamble is a leading consumer staple company with 80 brands.”

5. World of Wildlife Foundation “Love it or lose it” Campaign

The final series of magazine advertisements I will look at are from the World of Wildlife Foundation. The WWF is a non-profit dedicated to wildlife conservation and endangered species. Here is a link to their homepage to learn more.

https://www.worldwildlife.org

Here is a link to the “Love it or lose it” campaign.

https://www.worldwildlife.org/pages/public-service-advertisements-psa

The Love It or Lose It campaign features several images, but the theme is clear: if we don’t love it, we will lose it. There is a billboard featuring a woman drinking water, and below the words, “Time is running out to protect our freshwater. Act now. Below that is a honeybee pollinating a flower with the words, “Time is running out to protect our food system. Act now. The theme continues with glaciers melting, endangered tigers, and forests. 

This series makes me sad because it’s true. All people have a responsibility to the environment in which we live on Earth. A lot is destroyed for the benefit of people, and it is unfortunate. Little things can make significant differences, like recycling, eliminating plastics, taking a shorter shower, organic gardening, renewable energy, etc. I think this is the value proposition. It’s the “Act now” aspect of the campaign. The target audience is everyone, as we are all responsible for doing our part to reduce carbon footprints. 

According to the World Wildlife Foundation, 85% of WWF spending is on worldwide conservation. Since WWF is a non-profit, all of its financial information is available below on its website. 

https://www.worldwildlife.org/about/financials#:~:text=All%20told%2C%20WWF’s%20net%20assets,pressing%20needs%20our%20planet%20faces.

Total revenues in 2023 amounted to 469,953,556 million dollars, and total expenses were 454,544,058 million. Regarding expenses, the amount spent on advertising was not explicitly listed. I saw their audit for 2022, which included 8,613,526 million dollars in advertising expenses. Revenues were slightly less in 2023 than in 2022, so I am guessing that advertising was around the same or slightly less. 

The audit can be found below.

https://files.worldwildlife.org/wwfcmsprod/files/FinancialReport/file/wvsz4ctol_2023_World_Wildlife_Fund_Inc_SF_CFS.pdf?_ga=2.56794538.1415699859.1713125081-1843126818.1713125079

Thank you for taking the time to stop by The Professional Student. Please remember to comment or ask questions. Thank you, and I hope everyone enjoyed this analysis! 

References

Akhtar, S. (2022, June 15). Case study on old spice “smell like a man, man” campaign. Strategian. https://www.strategian.in/post/case-study-on-old-spice-smell-like-a-man-man-campaign

Carlier, M. (2023, August 29). Nissan: Total net sales. Statista. https://www.statista.com/statistics/314849/total-net-revenues-of-nissan/ 

Febreze: Odor Chart • ADS of the WorldTM: Part of the Clio network. Ads of the WorldTM. (n.d.-a). https://www.adsoftheworld.com/campaigns/odor-chart 

Funding and financial overview | WWF. (n.d.-a). https://www.worldwildlife.org/about/financials 

Levine, S. (n.d.). What companies does Procter & Gamble Own?. The Motley Fool. https://www.fool.com/investing/how-to-invest/stocks/what-does-procter-and-gamble-own/

Lahm, R., Lockwood, F. (2022). ENT 610 Entrepreneurial Creation. Master of Entrepreneurship Degree Program: “Greatest Marketing Campaigns” Analysis. https://www.canvas.com

McDonald’s: Mcmobile • ADS OF THE WORLDTM: Part of the clio network. Ads of the WorldTM. (n.d.-b). https://www.adsoftheworld.com/campaigns/mcmobile 

Newman, A. A. (2010, July 15). Old spice argues that real men smell good. The New York Times. https://www.nytimes.com/2010/07/16/business/media/16adco.html# 

Nissan: Stay home • ADS OF THE WORLDTM: Part of the clio network. Ads of the WorldTM. (n.d.-c). https://www.adsoftheworld.com/campaigns/stay-home-8b153c9b-c5ac-4393-abdc-5a718cc8a38c

Procter & Gamble. MMA Global. (n.d.). https://www.mmaglobal.com/members/procter-gamble#:~:text=As%20the%20world’s%20largest%20multinational,the%20world%20with%20its%20brands.

Public service advertisements (PSA) | pages | WWF. (n.d.-b). https://www.worldwildlife.org/pages/public-service-advertisements-psa 

Statista Research Department. (2023, September 13). Nissan ad spend 2023. Statista. https://www.statista.com/statistics/1412701/nissan-motor-advertising-spending/ 

Statista Research Department. (2024, March 19). McDonald’s revenue 2023. Statista. https://www.statista.com/statistics/208917/revenue-of-the-mcdonalds-corporation-since-2005/

Statista Research Department. (n.d.). 

WWF – endangered species conservation | world wildlife fund. (n.d.-c). https://www.worldwildlife.org/ 

Categories
Uncategorized

The Professional Student: “Situation Analysis” Subway Sandwiches SWOT

Hello, and welcome back! Graduate Students at WCU in the Innovative Leadership and Entrepreneurship master’s program were challenged this week with using the SWOT analysis framework to analyze a company of their choosing. Since I previously chose Subway Sandwiches as a subject for my advertisement blog posts, I decided to continue with them.

I fondly remember eating Subway sandwiches when I was younger in the early 2000s. As a freshly graduated from high school “adult” newly enlisted in the Army, Subway was always my go-to option. You couldn’t beat the $5 footlong promotions, and I was on the budget of an Army Private. Money was not plentiful, but I made it work. Chicken teriyaki on Italian herbs and cheese bread with olives, green peppers, onions, and spinach toasted with pepper jack cheese was my favorite Subway sandwich during that time, and I would probably order it now if I still ate at Subway. 

Please enjoy my presentation on Subway. Below the video, you’ll find a complete reference list with clickable links. 

References

Hillel, A. (2023, July 27). “fake tuna” lawsuit against subway dropped by plaintiffs. Courthouse News Service. https://www.courthousenews.com/fake-tuna-lawsuit-against-subway-dropped-by-plaintiffs/ 

IBISWorld – Industry Report: Sandwich & Sub Restaurants in the US. IBISWorld Industry Reports. (2024a, February). https://www.ibisworld.com/ 

IBISWorld – US Company Benchmarking Report: Subway- Company Overview. IBISWorld Industry Reports. (2024b, February). https://www.ibisworld.com/ 

Jurevicius, O. (2024, March 19). Subway SWOT analysis 2023 – SM insight. Strategic Management Insight. https://strategicmanagementinsight.com/swot-analyses/subway-swot-analysis/ 

Kunst, A. (2024, February 21). Subway Brand Awareness, Usage, Popularity, Loyalty, and Buzz Amoung Restaurant Chain Customers in the United States. statista. https://www-statista-com.eu1.proxy.openathens.net/forecasts/1335810/subway-restaurant-chains-brand-profile-in-the-united-states 

McCarthy, K. (2023, August 25). Subway bought by Roark Capital, parent company of Jimmy John’s and other restaurant franchises. ABC News. https://abcnews.go.com/GMA/Food/subway-bought-roark-capital-parent-company-jimmy-johns/story?id=102561166 

Mion, L. (2023, May 2). Subway closed more than 500 US stores in 2022: Report. Fox Business. https://www.foxbusiness.com/retail/subway-closed-more-than-500-us-stores-2022-report# 

Reed, B. (2020, October 1). Subway bread is not bread, Irish court rules. The Guardian. https://www.theguardian.com/world/2020/oct/01/irish-court-rules-subway-bread-is-not-bread 

Statista Research Department. (2023a, November 2). Leading chain restaurants by sales US 2022. Statista. https://www.statista.com/statistics/298191/sales-of-the-leading-chain-restaurants-in-the-us/ 

Statista Research Department. (2023b, November 10). Number of subway restaurants by country worldwide 2023. Statista. https://www.statista.com/statistics/469379/number-of-subway-restaurants-worldwide/ 

Statista Research Department. (2024, March 4). Subway revenue US 2022. Statista. https://www.statista.com/statistics/464277/subway-us-sales/ 

Categories
Innovation Uncategorized

Innovation: A Modern Problem

Many people have ideas, but not all ideas are good. Those who can act on their ideas, capture and deliver value, and generate a profit for a new or improved framework, process, product, or service can be considered innovative.

What is innovative leadership? Innovative leadership can be described in several ways, but to break it down plainly, it is the ability to lead and drive the innovation process within an organization. Ideas are managed beyond the research and development departments through the practice of entrepreneurship, corporate entrepreneurship, or intrapreneurship.

The innovation process is a proven process broken down into five steps that can be found in different sources (Desouza, 2017).

Step 1: Idea Generation and Mobilization

Step 2: Advocating and Screening

Step 3: Idea Experimentation

Step 4: Idea Commercialization

Step 5: Diffusion and Implementation

According to The National Center for Science and Engineering Statistics (n.d.), “Of the estimated 4.9 million for-profit companies with at least one employee, 25% introduced an innovation during 2017-19. Eleven percent introduced one or more product innovations, and 22% introduced one or more business process innovations (para. 1).” If only 25% of for-profit organizations are innovating, 3.67 million are not.

Organizations that innovate, invest in innovation, and innovate during a crisis outperform their peers by 10% and outperform the market upward of 30% while recovering from a crisis (Furstenthal et al., 2021).

If organizations that innovate generate more revenue than those that do not, why are so many for-profit organizations failing at innovation? Innovation, like any business process, is a science that starts with a strong innovation strategy, but the problem goes beyond planning from top-level executives and management. It is the top-level executives and management.

Traditionally, organizations are structured with a top-down hierarchy. Still, innovation requires ideas from everyone, including front-line employees, who are often dismissed by management even though they interact with customers the most. You can’t teach an old dog new tricks, so maybe it’s time for them to ditch tradition, open their ears, and reverse organizational structure through a bottoms-up approach.

The problem goes beyond management and organizational structure. I could keep going but want to save something for my next post. In the comments, let me know why you think organizations fail to innovate. Thanks for reading, and I hope I’ve sparked your interest and curiosity to explore this topic further.

References

Desouza, K. C. (2017). Intrapreneurship: Managing ideas within your organization. University of Toronto Press Rotman-UTP Publishing. 

Furstenthal, L., Hirt, M., & Roth, E. (2021, March 18). Innovation: Your launchpad out of the COVID-19 crisis. McKinsey & Company. https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/innovation-your-launchpad-out-of-the-covid-19-crisis

National Center for Science and Engineering Statistics. (n.d.). Innovation data from the 2020 Annual business survey | NSF – national … ncses.nsf.gov. https://ncses.nsf.gov/pubs/nsf23310