DIS commonly referred to as Disney is the largest media and entertainment conglomerate in the world in terms of revenue. Walt Disney Productions established itself as a leader in the American animation industry before diversifying into live-action film production, television, and travel. Taking on its current name inThe Walt Disney Company expanded its existing operations and also started divisions focused upon theatre, radio, publishing, and online media. In addition, it has created new divisions of the company in order to market more mature content than it typically associates with its flagship family-oriented brands.
We will cover, 1 Marketing mix h r block introduction to key activities, 2 questions to consider, 3 typical activities, 4 categories for key activities, and 5 a case study on LinkedIn. To be successful, a company must carry out key actions that are primarily dictated by its business model.
As we studied with the key resources building block, key activities are similarly pivotal in an organization fulfilling its value proposition, reaching its customer segments, sustain its customer relationships and ultimately create long-term revenue streams.
Key activities are different according to the business model of the organization carrying out the activity. Hence, an organization that relies heavily on its 3rd party contracts will list channel management as a key activity.
A product-driven business will lend more significance to activities such as continuous research to understand their users better as well as constant innovation in technology. Hence, it is safe to assume that a key activity for software giant Microsoft is Software Development; similarly, for computer manufacturer Dell, supply chain management may be a key activity, and a consulting business like McKinsey probably lists solving client problems as its key activity.
Based on our value propositionswhat kinds of activities are key to our business? What kinds of activities are key to our distribution channels? What kinds of activities are important if we want to maintain our customer relationships? What kinds of activities are fundamental to our revenue streams?
Our Value Propositions will obviously have the most profound impact on the kind of activities we carry out. However, as the business flourishes, we may begin to include unnecessary activities within this block as well.
To prevent this, we use a method called the Minimum Viable Product or MVPwhich is the most basic version of your product made through a single cycle of the build, measure and learn loop.
Most entrepreneurs will resist the Minimum Viable Product because everyone believes that for a product to be a success, it must provide maximum value to its customers.
This brings us back to the Customer Segment and Value Proposition building blocks where we learnt that we have to be selective about the customers we target and the kind of value we provide by relieving their pains and giving them gains.
Creating a bloated product with tons of extra feature that are of no value to your customer but which add to his investment, is not the way to go. A product is a combination of its form and function, function being what it does and form detailing how it does it.
This form is crucial to the customer experience and helps in determining the key activities. Similarly, the kind of customer relationship you want establish will also entail certain key activities to bring it about and so on. The typical functions of a research department are mentioned below; New Product Research: Before a new product can be produced, it must first go through the research and development department which will explore what the design of the product should be, the expected production costs and how long it will take to produce sufficient amounts of the product.
These changes can additionally be attributed to product glitches that need resolving. Production Production management consists of a number of activities which are outlined below; Selection of product and design: This is a crucial decision because the combination of the right product Value Proposition and the right design Key Activities will dictate the success or the failure of the company.
Value engineering and value analysis are parts of this activity. Selection of Production Process: Selecting Right Production Capacity: The production management must have full knowledge of the expected demand for the product and set the production capacity accordingly, since either a dearth or a surplus of the product may lead to problems for the company.
Break-even analysis is the most popular tool used by production managers to predict capacity. The production manager must decide on the routing and scheduling of the product. Routing is aimed at creating a smooth flow of work by discovering the easiest and most economical flow of work.
Scheduling, on the other hand, refers to the timing of activities by mentioning a start and end time for each. The production manager is also responsible for monitoring and controlling the production process.
This is done by comparing planned production with actual production, exploring deviations if any and ultimately correcting these deviations to meet planned production. Quality and Cost Control: Hence, it falls on the production manager to not only ensure that he is continuously improving the quality of the product but also to reduce costs so their product can remain competitive in the market in terms of price.
Inventory Control is fundamental to a production driven business because it prevents overstocking or understocking. Overstocking means the company will be spending more money on materials that will ultimately go to waste. Understocking will effect production and result in late deliveries.Buy Nudge: Improving Decisions About Health, Wealth and Happiness by Richard H Thaler, Cass R Sunstein (ISBN: ) from Amazon's Book Store.
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H&R Block and Hewlett-Packard. Analytic Challenge HEAD-TO-HEAD COMPETITION John Young SVP, Analytic Consulting. H&R Block Corporations IBM Protective Life SpringleafFinancial Transamerica Golden Gate University Indiana University South Bend Mix of Linear and Non Linear (Tree Based) Models.
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