Use of Social Media by Companies To Reach Their Customers                

The author wrote this article to demonstrate the important role of social media in connecting the customers to the firm as sellers. He also uses this article to inform the readers what social media is. I think that this article is important as use of social media is getting more widespread. The world seems to be smaller with social networking activities. The major social networks are Facebook, Twitter and You Tube.  Currently, there are one billion Facebook users (Business Bloomberg, Oct 2012).People have been using social media as means to interact within the society.  The greatest advantage of social media is the free cost of the channel to the users. For example, Facebook does not charge any premium to the account holders while providing free and convenient social networking services. Facebook owner manages to list his firm in the Stock Exchange as a public company merely by collecting advertising revenues from companies advertising their products and services.

The author has conducted the study in India to find out how companies utilize social media to market their products. He found out that 83% of the companies agreed that they would not succeed in marketing their strategies without social network.  52% of the companies are able to win new customers through social media. Majority of big retailers use Facebook and Twitter to communicate with their customers for complaints and compliments. Customers are satisfied when they get feedback promptly whenever they have doubts and unhappiness about products and services.  He also found out that company will suffer losses if they do not respond to their customers’ grievance. One company name Parle Agro used Twitter to keep track their inventories and it turn out that it was successful to increase their sales. (Bhanot, 2012).  The author supports the above finding by stating that consumers make purchases base on their cyber friends’ recommendation. As the costs of using social network are minimal, small and medium firm could afford the budgets. Author also thinks that companies could enhance their product images with the use of social media while reaching out to more people. (Bhanot, 2012)

For implication, managers should know how to use social media effectively. Firms should be creative when designing their web pages. Advertisements should not contain too much information to the social media users as to avoid sense of overload data. Firm could update the advertisements frequently too. They should consider implementing their marketing strategies at the right timing and to the appropriate group age. Managers should also consider competitiveness of their rivalry. The products that they advertise should seem unique and different from their rivals.

Written by Sandeep Bhanot, Sies Journal of Management, March 2012, Vol.8 : Issue 1

Theory Testing (Quantitative) Article

Impact of Quality Programs on supply Chain Performance

The purpose of this article is about the implication of the different types of quality programs such as ISO 9000, TQM, and Six Sigma, on the supply chain performance.

Since supply chain plays a crucial role in most companies, it is therefore very important to see what can help it to become more efficient. Supply chain is the backbone of the business with the control over purchases and allocations of raw materials, and the distribution of the finished product to the different sale channels. Without an efficient supply chain, the business will not survive.

The author of this article wants to show us that quality programs play a very important role in the improvement of the efficiency of supply chains. So, he came up with a model of research, which will go through different structures of a business affected by supply chain in order to see how the different quality programs affect them. He tested 72 firms in total, and the firms covered a wide variety of industries in order to be more representative. As said before, the authors will measure the performance of the quality programs. To reach his goals, we will create a strategic process to perform his analyses.

According to Dr. A Rajagopal, the studies will involve “four major activities involved in any value chain” (Global Management Review/volume 4/Issue3/May2010), and the hypotheses are:

 “Adaptation of different quality programs does not have any impact on :1. Customer orientation practices  2. Distribution practices  3. Internal operations or  4. Supply practices” (Global Management Review/volume 4/Issue3/May2010).

After reviewing the results of the surveys, the “null hypothesis is rejected based on the available sample evidence”(Global Management Review/volume 4/Issue3/May2010).

All the evidences showed that the quality programs affect positively the supply chains. Also, Dr. A Rajagopal mentioned that the implementations of the quality programs are not affected by size of the firms and neither by the scale of their activities (Global Management Review/volume 4/Issue3/May2010).

Since there is no doubt that implementing the quality programs on supply chains will be beneficial for all types of firms, managers and executives should consider the use of those programs to ameliorate their respective supply chain performances. An efficient supply chain will in return give the executives and managers a greater control of the firm resources in order to make their firms successful. 

References:

Dr. A. Rajagopal. Global Management Review/volume 4/Issue3/May2010

Qualitative Blog

Big Data: A Boon to Business Intelligence

The purpose of the article is to show that collected data along with sophisticated software can be used to answer questions that have yet to be asked. Dashboards, Cubes and other data analysis tools can be used to trend and present data in ways that we have yet to consider. The current paradigm of financial and data reporting is backward-looking. That is, current models report on what has happened in the past. The idea is to get a current, “24-7” model that makes data and financial reporting current. This is important because if managers dwell on the past, they may miss what is happening now. “The purpose of computing is insight, not numbers.”

The findings of the article suggest that through BI (Business Intelligence), business decision-making runs through a top-down model (1 to 4) while reporting processes rely on a bottom-up approach (4 to 1).

• 1.    Scorecards & Dashboards
• 2.    Reporting & Analytics
• 3.    Storage & Integration
• 4.    Data Sources

The assumption is that the authors came to this conclusion through their experiences as managing principals at KPMG.

The implication for practicing managers is to embrace EIM (Enterprise Information Management) not only for what their needs are today, but what it can be for tomorrow. “The paradigm shift to data as a platform and analytics as a utility holds the potential of enhancing the IQ of an organization, enabling greater  agility and enhanced performance.”

Ohata, Michael & Kumar, Arun. Big Data: A Boon to Business Intelligence. Financial Executives. September 2012

About Me

Hello,

I am currently finnishing up my MBA program. I was pursuing  a Master in Accounting, but I found that the MBA will give me a wider view of the business world.

It is my fisrt time blogging, and it comes at the right moment, because my work place  just started its own blog.

For many years, I have been using a lot of information from blogs. I find blogs are very useful, but I did not have enough motivation to start blogging.

I hope that this blog will not be my last, and I hope to find the blogging passion that many people have all over the internet.

I think, it will a be a great tool to stay current in our respective field of studies or career. Also, for someone like me who is weak with typing, blogging will certainly increase my typing speed.

That's all about me so far. Thanks!!!!

Introductory Post

My name is Vivek Khandekar and I'm in the last semester of the dual focus MHA/MBA program. I currently work as a financial analyst for a large healthcare organization just outside the Texas Medical Center. Prior to joining UHCL, I worked as an actuarial analyst in downtown Chicago. 

I hope to gain insight into business in general at the conclusion of this course. I believe the structure of this course lends itself to a very thorough examination of the business world.

Consumer E-Commerce Dissonance: Innovating Without Alienating Before Information Overload

This article studied the internet users’ behavior with threat in respect to online privacy. Customers feel threatened for disclosing too much information while visiting webpage. This created customers dissonance along with e-commerce innovation. This study is important as e-commerce advanced tremendously in the twenty-first centuries. Consumers find the convenience of online shopping with the efficient good delivery to the doors. Online shopping with E-bay and Amazon are ones of the most popular website shopping activities. Consumers use internet tools buying household goods, commodities, banking and so on. For instance, on Black Friday, consumers could buy the clearance items through webpage and the items could be picked up from the stores upon paying. Multi million dollar purchases were made by online consumers on one single Black Friday. With the skyrocket e-commerce, consumers’ privacy needed to be protected.

The author suggests four hypotheses to be tested in the study (Cromer, 2011)

1)    Perceived online threat severity will have

a)      Positive relationship with adaptive behavior

b)      Positive relationship with maladaptive behavior

2)      Perceived threat probability will have a

a)      Positive relationship with adaptive behavior

b)      Positive relationship with maladaptive behavior

3)      Internet Self-efficacy will have a

a)      Positive relationship with adaptive behavior

b)      Negative relationship maladaptive behavior

4)      Privacy Response Self-efficacy will have

a)      Positive relationship with adaptive behavior

b)      Negative relationship maladaptive behavior.

For the result, it turns out that the first three and part (a) of fourth factor are all true except the last part of fourth factor. Adaptive behavior includes self-regulate their time spend on internet. Filing suit with government agency are one of the maladaptive behavior. (Cromer, 2011)

The implication of this article is how the managers should not share any customer information with third parties. They have to earn the trust of consumers so that consumers feel protected. For instance, E-bay consumers are protected while buying goods from E-bay websites under E-bay Protection Fraud. E-bay has achieved the goal of protecting the consumers by using Pay-pal. E-bay consumers have to pay with Pay-Pal.  Pay-pal has earned the trust of the online consumers as the organization has the reputation of not sharing information with any other party. Customers feel safe when they disclosed banking information to Pay-pal. Managers have all the responsibility of protecting the customer private information. It is to ensure the continuation of progressive development of E-commerce

Cromer, Cory Taylor. “Consumer E-Commerce Dissonance: Innovating Without Alienating Before Information Overload”, Journal of Marketing Development and Competitiveness (2011) : vol.5(4) 11-21

Introductory post

My name is Lung Wong. My major is Master In Accounting. I will be graduating end of this semester. I worked in a property developer company as an accountant for five years from 1994 to 1998 in Malaysia, Asia. Since then, i stay home raising and nurturing my son. I plan to go back to business world upon graduating. From this blog project, i am eager to learn to express my opinions in public writing.