Stories That Deliver Business Insights Description
This is an MIT Sloan Management Review article. Ethnography has often been portrayed as a "fly on the wall"technique, with anthropologists lurking in people's homes to observe consumers'unadulterated lives. The authors argue that this description does not do justice to the way ethnography actually works in the corporate world or to ethnography's increasingly important role in formulating business strategy. The authors'research across a variety of companies suggests that ethnography -artful in situ investigation into what customers do and feel and how they talk about what they do and feel -is a powerful tool to use to gain insights into your market. To arrive at a more in-depth understanding of how corporations use ethnography to their advantage, the authors conducted interviews with executives in various industries worldwide, including Ford and Wells Fargo. Where data analytics and surveys provide flattened snapshots, ethnography contributes an empathic understanding of how consumers live, work and play through gritty and detailed descriptions. Whether conveyed in video format, presentations or reports, these stories describe how people confront and surmount the hurdles they encounter in meeting their responsibilities and fulfilling their hopes in our globalized consumer culture. By delving into the richness of people's life stories, ethnographic research can pivot companies away from less meaningful segmentation parameters, such as demographics or purchase history, and toward those that drive behavior, such as purpose and intent. Quantitative techniques such as factor analysis can subsequently be applied to locate and size market segments. Consistent with the idea that ethnography helps organizations deal more effectively with market complexities, the executives the authors interviewed often talked about ethnography as having helped them sort out puzzling data. While these discussions call into dispute the perception that ethnography is merely an exploratory technique, they also underline the point that ethnographic stories often provide insight into consumer behavior that is hard to come by in other ways.
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Case Analysis of Stories That Deliver Business Insights
Stories That Deliver Business Insights is a Harvard Business (HBR) Case Study on Sales & Marketing , Texas Business School provides HBR case study assignment help for just $9. Texas Business School(TBS) case study solution is based on HBR Case Study Method framework, TBS expertise & global insights. Stories That Deliver Business Insights is designed and drafted in a manner to allow the HBR case study reader to analyze a real-world problem by putting reader into the position of the decision maker. Stories That Deliver Business Insights case study will help professionals, MBA, EMBA, and leaders to develop a broad and clear understanding of casecategory challenges. Stories That Deliver Business Insights will also provide insight into areas such as – wordlist , strategy, leadership, sales and marketing, and negotiations.
Case Study Solutions Background Work
Stories That Deliver Business Insights
case study solution
is focused on solving the strategic and operational challenges the protagonist of the case is facing. The challenges involve – evaluation of strategic options, key role of Sales & Marketing, leadership qualities of the protagonist, and dynamics of the external environment. The challenge in front of the protagonist, of Stories That Deliver Business Insights, is to not only build a competitive position of the organization but also to sustain it over a period of time.
Strategic Management Tools Used in Case Study Solution
The Stories That Deliver Business Insights case study solution requires the MBA, EMBA, executive, professional to have a deep understanding of various strategic management tools such as SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.
Texas Business School Approach to Sales & Marketing Solutions
In the Texas Business School, Stories That Deliver Business Insights case study solution – following strategic tools are used - SWOT Analysis, PESTEL Analysis / PEST Analysis / STEP Analysis, Porter Five Forces Analysis, Go To Market Strategy, BCG Matrix Analysis, Porter Value Chain Analysis, Ansoff Matrix Analysis, VRIO / VRIN and Marketing Mix Analysis.
We have additionally used the concept of supply chain management and leadership framework to build a comprehensive case study solution for the case – Stories That Deliver Business Insights
Step 1 – Problem Identification of Stories That Deliver Business Insights - Harvard Business School Case Study
The first step to solve HBR Stories That Deliver Business Insights case study solution is to identify the problem present in the case. The problem statement of the case is provided in the beginning of the case where the protagonist is contemplating various options in the face of numerous challenges that Ethnography Stories is facing right now. Even though the problem statement is essentially – “Sales & Marketing” challenge but it has impacted by others factors such as communication in the organization, uncertainty in the external environment, leadership in Ethnography Stories, style of leadership and organization structure, marketing and sales, organizational behavior, strategy, internal politics, stakeholders priorities and more.
Step 2 – External Environment Analysis
Texas Business School approach of case study analysis – Conclusion, Reasons, Evidences - provides a framework to analyze every HBR case study. It requires conducting robust external environmental analysis to decipher evidences for the reasons presented in the Stories That Deliver Business Insights.
The external environment analysis of Stories That Deliver Business Insights will ensure that we are keeping a tab on the macro-environment factors that are directly and indirectly impacting the business of the firm.
What is PESTEL Analysis? Briefly Explained
PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Stories That Deliver Business Insights case study. PESTEL analysis of " Stories That Deliver Business Insights" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.
How to do PESTEL / PEST / STEP Analysis? What are the components of PESTEL Analysis?
As mentioned above PESTEL Analysis has six elements – political, economic, social, technological, environmental, and legal. All the six elements are explained in context with Stories That Deliver Business Insights macro-environment and how it impacts the businesses of the firm.
How to do PESTEL Analysis for Stories That Deliver Business Insights
To do comprehensive PESTEL analysis of case study – Stories That Deliver Business Insights , we have researched numerous components under the six factors of PESTEL analysis.
Political Factors that Impact Stories That Deliver Business Insights
Political factors impact seven key decision making areas – economic environment, socio-cultural environment, rate of innovation & investment in research & development, environmental laws, legal requirements, and acceptance of new technologies.
Policy Making Impact on Stories That Deliver Business Insights
Government policies have significant impact on the business environment of any country. The firm in “ Stories That Deliver Business Insights ” needs to navigate these policy decisions to create either an edge for itself or reduce the negative impact of the policy as far as possible.
Data safety laws – The countries in which Ethnography Stories is operating, firms are required to store customer data within the premises of the country. Ethnography Stories needs to restructure its IT policies to accommodate these changes. In the EU countries, firms are required to make special provision for privacy issues and other laws.
Competition Regulations – Numerous countries have strong competition laws both regarding the monopoly conditions and day to day fair business practices. Stories That Deliver Business Insights has numerous instances where the competition regulations aspects can be scrutinized.
Import restrictions on products – Before entering the new market, Ethnography Stories in case study Stories That Deliver Business Insights" should look into the import restrictions that may be present in the prospective market.
Export restrictions on products – Apart from direct product export restrictions in field of technology and agriculture, a number of countries also have capital controls. Ethnography Stories in case study “ Stories That Deliver Business Insights ” should look into these export restrictions policies.
Foreign Direct Investment Policies – Government policies favors local companies over international policies, Ethnography Stories in case study “ Stories That Deliver Business Insights ” should understand in minute details regarding the Foreign Direct Investment policies of the prospective market.
Taxation & Regulation Impact on Stories That Deliver Business Insights
Corporate Taxes – The rate of taxes is often used by governments to lure foreign direct investments or increase domestic investment in a certain sector. Corporate taxation can be divided into two categories – taxes on profits and taxes on operations. Taxes on profits number is important for companies that already have a sustainable business model, while taxes on operations is far more significant for companies that are looking to set up new plants or operations.
Tariffs – Chekout how much tariffs the firm needs to pay in the “ Stories That Deliver Business Insights ” case study. The level of tariffs will determine the viability of the business model that the firm is contemplating. If the tariffs are high then it will be extremely difficult to compete with the local competitors. But if the tariffs are between 5-10% then Ethnography Stories can compete against other competitors.
Government Scheme & Subsidies Impact on Stories That Deliver Business Insights
Research and Development Subsidies and Policies – Governments often provide tax breaks and other incentives for companies to innovate in various sectors of priority. Managers at Stories That Deliver Business Insights case study have to assess whether their business can benefit from such government assistance and subsidies.
Consumer protection – Different countries have different consumer protection laws. Managers need to clarify not only the consumer protection laws in advance but also legal implications if the firm fails to meet any of them.
Political System & Stability, and its Impact on Stories That Deliver Business Insights
Political System and Its Implications – Different political systems have different approach to free market and entrepreneurship. Managers need to assess these factors even before entering the market.
Freedom of Press is critical for fair trade and transparency. Countries where freedom of press is not prevalent there are high chances of both political and commercial corruption.
Corruption level – Ethnography Stories needs to assess the level of corruptions both at the official level and at the market level, even before entering a new market. To tackle the menace of corruption – a firm should have a clear SOP that provides managers at each level what to do when they encounter instances of either systematic corruption or bureaucrats looking to take bribes from the firm.
Independence of judiciary – It is critical for fair business practices. If a country doesn’t have independent judiciary then there is no point entry into such a country for business.
Government attitude towards trade unions – Different political systems and government have different attitude towards trade unions and collective bargaining. The firm needs to assess – its comfort dealing with the unions and regulations regarding unions in a given market or industry. If both are on the same page then it makes sense to enter, otherwise it doesn’t.
Economic Factors that Impact Stories That Deliver Business Insights
Social Factors that Impact Stories That Deliver Business Insights
Technological Factors that Impact Stories That Deliver Business Insights
Environmental Factors that Impact Stories That Deliver Business Insights
Legal Factors that Impact Stories That Deliver Business Insights
Step 3 – Industry Specific Analysis
What is Porter Five Forces Analysis
PESTEL stands for political, economic, social, technological, environmental and legal factors that impact the external environment of firm in Stories That Deliver Business Insights case study. PESTEL analysis of " Stories That Deliver Business Insights" can help us understand why the organization is performing badly, what are the factors in the external environment that are impacting the performance of the organization, and how the organization can either manage or mitigate the impact of these external factors.
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