Design and Entrepreneurship Schools of Strategy - Comparative Analysis Research Paper

Design and Entrepreneurship Schools of Strategy - Comparative Analysis - Research Paper Example Strategy formation is establishing a fit between the strengths and weaknesses of an organization and the opportunities available in its external environment.   Christensen, Andrews, Bower, Hamermesh and Porter (1982) are among the major proponents for the design school strategy The model of strategy formation of the design school is one in which leaders seek to attain a fit between an organization’s internal capabilities and the possibilities external to the organization (i.e., the need to bring together the organization’s internal state with its external expectations). The design school model proponents place primary emphasis on the appraisals of the external and internal situations.   Appraising the external situations is accomplished by uncovering the threats and opportunities in the environment.   Appraising the internal situations is accomplished by revealing the strengths and weaknesses of the organization (Wang 2008, p. 643). The external environment includ es technological, economic, social and political aspects of a company’s environment and also includes issues of forecasting and scanning.   The design school proponents also consider the role played by managerial values and organizational social responsibility important in the process of strategizing.   Mintzberg et al (1998) provided a diagram detailing the process in the design school. Rumelt (1997), one of the proponents of this school, proposed a framework to evaluate strategy making.   In his framework, a formulated strategy should be consistent in terms of the goals and policies of the organization and must be adaptive to the changes in the organization’s environment. Rauch et al (2004) examined this framework through collected empirical evidence and found that the framework has a positive effect on strategic outcomes. The proponents of the entrepreneurial school focus on the leader and his vision. The central construct of the entrepreneurship school is a vision: a mental representation of strategy created or at least expressed in the head of the leader.

The Mask Of Apollo - Review Essay -- essays research papers

"The Mask of Apollo" revolves around the adventures of Nikeratos, a young actor who travels the countryside of ancient Greece and Sicily while performing in various plays. In one play, Kadmos by Sophokles the Younger, Nikeratos is required to wear an old mask of Apollo as part of his costume. The mask is fifty years old and is rumored to bring good luck. Nikeratos is impressed with the mask and comes to believe that it possesses special powers. He begins to make reverent gestures toward it as when he places a bay-sprig above it and sprinkles drops of wine on the floor in front of it. During one performance of the play a battle breaks out with a neighboring town. As the actors continue performing, Nikeratos touches the mask for luck and promises to make an offering to Apollo if the god helps him get through the scene. The superstitious townspeople spotting Nikeratos in the mask begin calling on Apollo to help them win the battle. In the end they are successful in their fight. From this point forward Nikeratos carries the mask with him and defers to it when he needs guidance. Accounts of Greek history are dispersed throughout the book with the politics of the ancient Greek world of Syracuse playing a major role in the story. Nikeratos attempts to ignore politics as he sees himself as an actor who is separate from the government scene. Through his travels in various plays however, he finds himself being pulled into the civil turmoil by his relationships with the p...

Circuit City Essay

1). Which of the three approaches to accounting for extended warranty and service contracts is most consistent with the actual substance of a sales transaction involving equipment and an extended warranty contract? Approach number one, the Full revenue recognition is the most consistent due to the reasons which are demonstrated on exhibit two according to the Financial Accounting concept No.5. As stated in this exhibit, Revenues must be both realized and earned prior to the recognition. In this case, after selling the goods and services Circuit city at that point of sale both revenue and earnings have been realized because goods have exchanged hands. At this point of time, even though the cost services haven’t been used, there is a clear agreement and assurance that the necessary services will be rendered during the period of the warranty Further in exhibit 2 it states four key components which justifies that the Full Revenue Approach is the best match of the sale of product a nd extended warranty because at the time of sale an entity will be considered to have substantially completed the earning process if: 1). It incurs the selling cost 2). It has established service network, which is there for the most part to provide the customers with the service associated with the manufacturer’s warranty. 3). Relatively few customers call for service during the extended period 4). Estimates can be made with relative certainty as to future costs to be incurred under the extended warranty. Under these facts, Circuit city had met all the qualifications to report their revenues as they did. The system was in place and the reporting of revenues didn’t seem to have any discrepancies. The information users (Share holders) seem to be happy with the results. Concurrently the profitability of the company as a whole appears to be fully maximized. 2).Why is this revenue reporting strategy is an issue to Circuit stores Inc? There is couple of reasons why senior vice president Michael Chalifoux is concerned: 1). He is concerned because if the proposed accounting reporting method goes to effect, there will be a delay on full rec ognition of revenue and income until the exhaustion of the warranty which will result lower income reported. Lower revenue reports do not reflect well on businesses especially when they had previously shown signs of growth. The reasons might be understood internally, but not externally. 2). Vice president is also concerned about the negative impact  on shareholder’s equity which would be significant in the merchandising industry. By showing low revenue earnings, some of the big companies who act as suppliers might be hesitant to do business with Circuit City because the chain might not be able to move their product as fast they anticipated. Such a change will cause a major loss of revenue which might cause the chain to gout of business. 3). If the company starts to show low income earnings, that change might cause second thought for the investors. Such suspicions cause investors not to invest in the business with confidence. Such a shift drives the stock market prices which may force the company to sell its shares at a lower cost. 3). What would be the effects on Circuit City stores financial statements if FASB requires them to change accounting for extended warranty and product maintenance contracts? 1). There will be definitely a change on reported revenue which is going to be lower that if the company had continued to report as previously. The change might cause a shake up within the company accounting department and the share holders, however it is my strong feeling that things will level out eventually. Even though sometimes change is difficult, Michael Chalifoux needs to have a very clear communication with the shareholders and the internal associates so they know what impact will the change bring. 4).What would Michael Chalifoux do? If the strategies of reporting are in place and there is no bleach of financial reporting in any way, shape or form, Michael does not have to change and adopt the new proposed reporting strategy. On the other side, if Circuit city is under the direction of FASB as a business entity, it is subject to the rules and regulations thereof. If it comes down to that FASB requires the reporting system to be changes, the vice president should do as proposed. In the long run it will be beneficial for the company public image. If the company goes to approach #2 which is full deferral of revenue, it will take couple years and things will level back again.

Mary Lou Retton, Olympic Gymnastics Champion

Mary Lou Retton (born January 24, 1968) won a gold medal for the United States in  womens Olympic gymnastics in 1984. She was the first American woman to win gold in the all-around event, and she won the most Olympic medals of any athlete at the 1984 Games. She also was known for her warm style, enthusiastic personality, iconic pixie haircut, and a more muscular build than many other female gymnasts. Fast Facts: Mary Lou Retton Known For: Gold-medal-winning U.S. Olympic GymnastBorn: January 24, 1968 in Fairmont, West VirginiaParents: Ronnie Retton and Lois RettonPublished Work: Mary Lou Rettons Gateways to Happiness: 7 Ways to a More Peaceful, More Prosperous, More Satisfying LifeAwards and Honors: Five Olympic gymnastics medals, including one goldSpouse: Shannon Kelley (divorced)Children: Shayla,  McKenna, Skyla, EmmaNotable Quote: You give up your childhood. You miss proms and games and high school events, and people say its awful...I say it was a good trade. You miss something but I think I gained more than I lost. Early Life Mary Lou Retton was born on Jan. 24, 1968, in Fairmont, West Virginia. She was the youngest of five children. Her father Ronnie Retton played basketball in college and was a minor league baseball player. Her mother Lois signed up Mary Lou for dance classes when she was 4, then enrolled her and her older sister in gymnastics classes at West Virginia University. She didnt have to be pushed into working out.  I would sleep in my leotard on Friday nights because I was so excited about gymnastics on Saturday mornings, Retton told Texas  Monthly magazine writer Skip Hollandsworth. She later remembered at age 4 watching Olga Korbut skate in the 1972 Olympics for the Soviet Union and identifying with her courage and vigor. Four years later, it was Romanian gymnast Nadia Comaneci who caught her eye, inspiring dreams of Olympic gold. Preparing to Compete By the age of 12, Retton had become dedicated to gymnastics and was competing in national and international competitions. Her parents allowed her to move to Houston, Texas when she was 14 to study and train with gymnastics coach Bela Karolyi, a Romanian defector who had previously coached Comaneci. She lived with the family of a fellow student and finished high school via correspondence courses while training 8-10 hours a day. She enjoyed the rigorous gymnastics schedule and flourished under Karolyis coaching. Retton stood out physically from many of the other female gymnasts. She was muscular, a change from the petite athletes that fans were accustomed to seeing in competition, even at the highest levels of the sport. One month after beginning her training with Karolyi, Rettons team went to Madison Square Garden in New York, New York, for the McDonalds American Cup Competition. She wasnt ranked high enough to be invited but she went as a substitute. One of her teammates got injured and Karolyi put in Retton. She won the competition and set a meet record, putting her in contention for the 1984 Olympics only two years away. Competition By 1984, Retton had won 14 all-around competitions in a row and was expected to compete in the 1984 Olympics in Los Angeles. She was then 16 years old. The Soviet Union and most of its allies were boycotting the Games in response to the United States boycott of the 1980 Olympics. About six weeks before the games were to start, Retton suffered a major knee injury, which turned out to be torn cartilage. She and her parents opted for minimally invasive arthroscopic surgery, which enabled Retton to walk immediately and to begin training after just one week of physical therapy. In the weeks before the Games, Retton would lie in bed, her eyes closed, imagining each piece of equipment and each routine and performing perfectly. Then she imagined receiving the gold medal with The Star-Spangled Banner booming around her. Olympic Showdown Sometimes, creative visualization works. At the Olympics, she won the gold medal in womens gymnastics for the all-around competition. The win was dramatic. Coming into the last event, she was barely behind Ecaterina Szabo of Romania. Retton approached her event, the vault, needing a 9.95 out of 10 to tie Szabo for the gold medal, and a perfect score of 10 to win it outright. She scored a 10. Olympic rules required that she perform another vault, although her first score still would count. So she landed another perfect 10. In addition to the gold medal in the all-around event, Retton won an individual silver for the vault, a bronze for the uneven bars, another bronze for the floor exercise, and another silver as part of the team competition. The five medals were the most for any athlete at the 1984 Olympic Games. Legacy Following her retirement from gymnastics in 1985 after winning her third American Cup title, Retton briefly attended the University of Texas at Austin. She married Shannon Kelley, whom she had met in college, in 1990, and they had four daughters: Shayla,  McKenna, Skyla, and Emma. She made many commercials, appeared in several movies and television shows, and was a popular speaker. Among the other recognition, Mary Lou Retton was the first woman to be featured on the front of a Wheaties box and she became a spokeswoman for the cereal brand. Through the many accolades and honors, she retained her fresh and perky personality and continued to convey a sense of being the girl next door. She was inducted into the International Gymnastics Hall of Fame in 1997. Sources Retton, Mary Lou. Mary Lou: Creating an Olympic Champion. Hardcover, First Edition edition, McGraw-Hill, September 1, 1985. Retton, Mary Lou. Mary Lou Rettons Gateways to Happiness: 7 Ways to a More Peaceful, More Prosperous, More Satisfying Life. Hardcover, Broadway, April 4, 2000. Retton, Mary Lou. The Olympic Dream and Spirit Volume 1: Stories of courage, perseverance and dedication. Mary Joe Fernandez, Bela Karolyi, et al., Paperback, Cross Training Pub, November 1, 1999. Retton, Mary Lou. Encyclopedia, The Gale Group, Inc., 2004.