Skip to main content

Posts

Improvement Project of Science Construction CS

Abstract Science Construction’s business is in planning, developing and building road projects. The major of its clients are municipalities, city governments, and other public sector entities. While the bankruptcy rates for these clients is very low, when economic downturns happen, their ability to pay in a timely fashion also suffers. This leads to businesses such as Science Construction needing to take on additional debt and to find creative methods in order to stay afloat during times of recession. Methods such as selling accounts receivables at discounted rates and taking larger lines of credit through banks and other lending institutions are some of the ways organizations can remain viable when their cash inflows have turned into a trickle. Science Construction is asking the Turkish Courts to postpone their bankruptcy proceedings for a year while they attempt to restructure. Through this, suggestions such as forcing shareholders to pay their debt to the organization, gaining credi
Post a Comment
Read more

The story of Netflix

In the late 1990's Reed Hastings, a former Peace Corp Volunteer, was running late to return a video rental. The fee for the late return of a rental video from Blockbusters at the time was $40 - enough to have bought the video outright. Reed was furious about having to pay the fee - he decided to set up his own video rental business. Leveraging his knowledge and skills in computer science; Reed set about creating the basis of his new video rental business. In 1999 the concept of NetFlix was born, with three key differentiators for customers: register for membership via a website rent DVD's delivered by mail pay on a monthly subscription There were several subscription options, but the most popular was a flat fee of $16.99 per month, to rent three movies at a time, with unlimited returns - and crucially no late fees! The service had an immediate impact on the industry - it was a genuine disruptor to video rental market, in particular to Blockbuster that had built it's busines
Post a Comment
Read more

Which technologies helped Netflix to grow?

 Netflix was able to gain a competitive advantage over its chief rival Blockbuster.  Discuss the Netflix value proposition and how it successfully gained and advantage over Blockbuster. Disruptive innovation is when a new entrant targets overlooked segments with a new offering that is more affordable, convenient or simpler than the existing offering. The new offering doesn’t match existing offerings on traditional performance criteria, but the ignored customers don’t care; they prefer the affordability and accessibility of the new offering. The new entrant gets a foothold and over time takes more and more of the existing market, eventually displacing the incumbent (Ostrower, n.d.). This is exactly what Netflix did to Blockbuster. Its original mail order service didn’t provide the instant gratification that Blockbuster did, but it was far simpler and less costly. And as Netflix did to Blockbuster, the usual disruption model is a startup disrupting an established player.  Netflix so far
Post a Comment
Read more

How did Netflix get it's competitive advantages?

Netflix was able to gain a competitive advantage over its chief rival Blockbuster.  Discuss the Netflix value proposition and how it successfully gained and advantage over Blockbuster. Netflix has grown from a video service with seven million U.S. subscribers to one that reaches 93 million people worldwide. They started as a DVD rentals-by-mail service, and business has been booming ever since they introduced a streaming subscription service as well (O'Neill. M.,2011). According to (Newman. Rick., 2010), the reason that Netflix successfully gained power over Blockbuster was creating a unique value proposition through; Subscriber-Funded services; through Netflix, viewers can choose what and when to watch instead of watching “what’s on.” So instead of having a  traditional channel with a developed schedule, the value of the portal is cultivating a library of programs. Unlike blockbuster, Netflix CEO Reed Hastings decided to change the business to a subscription model that allowed cus
Post a Comment
Read more

What is Netflix?

Netflix is an American entertainment organization established on August 29, 1997, in Scott's Valley, California by Reed Hastings and Marc Randolph. It provides streaming media and video-on-demand on the web and DVD via mail. In 2013, Netflix ventured into film and TV production, and online distribution. Starting in 2017, the organization has its home office in Los Gatos, California. Blockbuster LLC, once in the past Blockbuster Entertainment, Inc., also called Blockbuster Video or just Blockbuster established by David Cook. It began as American-based supplier of home movie and computer game rental provider through video rental shops, DVD-via mail, online gushing, video on demand, and a film theater. Blockbuster turned out to be globally known all through the 1990s. At its top in 2004, Blockbuster had 84,300 employees around the world, incorporating around 58,500 in the United States and around 25,800 in different nations, and had 9,094 stores. Netflix started its business activitie
Post a Comment
Read more

How Netflix became a disruptor?

A value proposition is a clear statement that explains how your product solves customers' problems or improves their situation (relevancy), delivers specific benefits (quantified value), tells the ideal customer why they should buy from you and not from the competition (unique differentiation) (Laja, 2017). It’s the most important determinant as to whether consumers will acknowledge whatever it is your trying to get their attention about. So getting it right is a must. Blockbuster did it right. Netflix did it better. Blockbuster Video or simply Blockbuster, is an American-based provider of home movie and video game rental services through a video rental shop, DVD-by-mail, streaming, video on demand, and cinema theater (Wikipedia, n.d.). The first store opened in 1985. Worth $5 to 6 billion dollars at its peak in 2004, Blockbuster’s growth came out of a value proposition to enable customers to watch hit movies in the comfort of their own homes. Twelve years later enters Netflix. Net
Post a Comment
Read more

Define and differentiate between data, information, and knowledg

            Data, information and knowledge – each is interlinked, dependent on the other and an integral part of another. Data is concerned with some aspects of reality and its physical representation which are in turn recorded, analyzed and communicated. This gives rise to information, higher level than data, where additional meaning is derived from data. Knowledge is the next level which is based on data and information but acquires new and additional meanings.  In this writeup, I will discuss the differences between the three and explain why the data management is very important for modern businesses.             An efficient data recording, analyzing and communicating will certainly help in information gathering from which we further derive knowledge. Each level can be a potential competitive advantage if it is managed rightly.                   Table 1. shows the differences between data, Information and Knowledge Data Information Knowledge Definition It is either mathematical qu
Post a Comment
Read more

What is information?

According to Watson (2007), the term “data” is generally used to emphasize raw facts. This data can be in the form of mathematical symbols or in words, which is used to define or describe a certain thing. And for the term “information”, it is usually defined as the identified data (data combined with a meaning). Finally, the term “knowledge” is referred to the information in combination with experience, context, interpretation, and reflection. Gallauger (2015) had connected the three terms altogether in a logical way. He illustrated that “data” is merely raw facts, which is useless unless it is turned into “information. This transformation occurs when data is put in a context by which relevant questions could be answered. Along with the managers’ “knowledge”, their experience and expertise, and the information collected, efficient decision making will be approachable.   Thus, data and information affect organizations competitive advantages in three significant ways (Porter & Millar
Post a Comment
Read more

How can data, information or knowledge contribute to organizational competitive advantage?

-           Data:   Cambridge Dictionary (2019 ), “Data is an information, especially facts or numbers, collected to be examined and considered and used to help decision-making, or information in an electronic form that can be stored and used by a computer:” With that been said, we can understand that whatever we can get as data, can also be quantitative (like 1, 12, 25) and qualitative (African American, Hispanic, middle class, etc.) -           Information:  Information is what makes data useful and will determine the types of data that we have. As state  (Merriam-webster.com, 2019),  “Information is the resolution of uncertainty; it is that which answers the question of "what an entity is" and is thus that which specifies the nature of that entity, as well as the essentiality of its properties. Information is associated with data and knowledge, as data is meaningful information and represents the values attributed to parameters, and knowledge signifies understanding of an
Post a Comment
Read more

Definitions of knowledge

Growing up in this tech revolution I have often heard the words Data, Information and Knowledge used and I have always thought they mean the same thing and I use them interchangeably too. Notwithstanding my several shots at defining ‘Data’, ‘Information’, and ‘Knowledge’, there is still a lack of a clear and complete picture of what they are and the relationships between them. Although many definitions have been relevant, they always seem wholistic. This paper does not intend to criticize those who have made efforts in this faculty. But the goal is to provide a different meaning of data, information, and knowledge with a perspective in the context of business management ·         Data Data are the raw bits and pieces of information with no context (B ourgeois, 2014).  It is also the collection of facts or the recording of (capturing and storing) symbols and signal readings, things with intrinsic meaning, and a mere representation. (Probst, Raub, & Romhardt, 2000). Symbols may inclu
Post a Comment
Read more