I’m working on a Business question and need guidance to help me study.
Week 1 Discussion
Please respond to the following:
- Explain how you expect this course will help you move forward in your current or future career.
- Identify an organization that could benefit from the application of the I/O Model of Above-Average Returns (Figure 1.2 on page 15 in the textbook).
- Follow the five steps to justify your answer.
- Do not use Apple or Walmart in this exercise.
- Be sure to incorporate the relevant vocabulary or terms from the chapter and give us the “why”.
- Be sure to respond to at least two of your classmates’ posts.
RE: Week 1 Discussion
Below are two peer’s post in which I’ll have to provide a response too.
RE: Week 1 Discussion
My name is Amber! It’s nice to meet you all and mutual kudos on reaching the end of your degree path! For me, it’s so wild to even think of being at this point, it felt like a goal I would absolutely never reach! As for something interesting about myself … Well, I don’t personally find myself compelling, I suppose. But if I had to pick one thing I would say it’s that I actually completed half of my Bachelor’s in Computer Programming before moving over to Business Admin, with a focus in Human Resources! Most people meet me and are surprised that I have an extreme interest in computers, technology, and video games! All three of which inspired my original career choice before I shifted lanes.
Now, for our weekly discussion! When I was very young my mother told me that the best way for me to understand something was to relate it to another topic that comes much more naturally. So, I’ll admit to having been a little thrown by our first chapter, as is normal at times, but for this weeks example I’ll be using Sony as my chosen company! More specifically, I will be referencing the gaming division with the conglomerate, though its other aspects (Televisions, movies, and cameras, to name a few!) may also fit our I/O model topic.
The external environment is varied: In our modern times gaming and specialized technology, such as Virtual Reality, is a household occurrence. It is very unlikely that you might run into someone who does not know what a Playstation or Xbox is. Similarly, while the industry itself has three large figures (Microsoff, Sony, and Nintendo) smaller studios host developers and producers of varying backgrounds and influence. Speaking competitively, the gaming industry is extremely competitive and possesses a symbiotic nature with its own consumers. Within this wider umbrella the attractive industry is the production of narrative focused video games (a niche that Sony is currently well known for. This particular area is not only profitable for the short-term as far as direct sales, but also in long lasting Intellectual Properties (IPs) that can continue to generate revenue in many different ways.
Of course, the most direct strategy for competing within this attractive strategy is the production of high quality product, something that can only be achieved with individuals who excel in storytelling, immersion, and understand the bond between player input and game theory. These individuals – programmers, sound design, directors, producers, motion cap actors, and more. – become the assets that devise the grander strategy. If successful is their finished product – the video game itself – which results in superior returns. It sounds simple but the I/O model thrives on competition which helps produce innovative results for the chosen industry. It won’t be enough to produce one blockbuster hit to not only be profitable, but also remain an influencer within that industry – this process must be repeated and built upon multiple times over, constantly seeking something “better” in order to see those superior returns.
RE: Week 1 Discussion
Nice to meet you Professor and classmates.
I am a mother of two teenage boys (17 & 15), Both of my boys look up to me for guidance and protection on a daily basis and growing up in a city where there is not much to choose from to earn a living, I knew early on in my adulthood that I wanted more out of life for myself and for my family. Many dream came and gone but once life started taking its toll on me I had to figure out what I wanted to do besides make money.
In 2016 I began my journey with Strayer University persuing my degree in Business Administration. Choosing this field was easy because I knew I wanted to become a Business owner so that I could help many people, give back to my community, have a global network, and give me the knowledge and intel to pass on to my children. Being this is my last class to finalize my degree, I am excited and eager to learn the key values needed to initiate my business plan.
AMAZON, would be one organization that I would choose that would benefit from the application of the I/O Model of Above -average returns.
1. The external environment/ general environment/ industry and competitor’s environment- Amazon is a nationwide network that sales over a million different products for retailers at a lower cost.
2. Their above average returns would continue at a profitable stand-point due to the globalized industry and the multiple suppliers they are connected to.
3. The strategy would have multiple suppliers selling their product on a globalized platform and with a lower cost, also with multiple buying options consumers would have at their local retail store.
4. Assets and Skills- Amazon would always stay ahead of their competitors such as Wal-mart,Ebay and other networks because they supply products, services, etc that you wouldn’t be able to access outside of them.
5. Providing consumers with Amazon Prime, multiple price-points, purchasing options, 24-hour customer service, service plans, their strategy has to be able to meet the needs of consumers world-wide and connect with the most leading day to day products where consumers would continuiosly return almost repeatedly to buy from them. They have to strategically plan and persue all avenues to continuely beat their competitors on a daily basis.