Managing The Family Business Theory And Practice 1st Edition Thomas Zellweger - Solutions

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Name two or three different industries. For each, consider completely different business models that are sustainably successful and that would be based on more collaborative and trust-building ways of creating value. Compare the principles of a merely “trustworthy” company with those of a
Imagine you have been assigned to change a currently product-oriented company to a customer-oriented firm. Select one. What is the first thing you do?What is your road map for the next two years? The next five?
In an organization, who should “own” the customer relationship? What does that mean?
At the same organization, assume the company rank-orders customers by value and places the MVCs behind a picket fence. What happens to customers and to customer portfolio managers behind that picket fence?
For the same organization, consider the current culture. Can you describe it?Would that have to change for the organization to manage the relationship with and value of one customer at a time? If so, how?
Choose an organization and draw its organizational chart. How would that chart have to change in order to facilitate customer management and to make sure people are evaluated, measured, and compensated for building the value of the customer base? Consider these questions:a. If a customer’s value
What are the best ways to compensate and reward customer managers?
In an organization, who should “own” the customer relationship? What does that mean?
At the same organization, assume the company rank-orders customers by value and places the most valuable customers behind a picket fence for 1to1 treatment. What happens to customers and to customer portfolio managers behind that picket fence?
For the same organization, consider the current culture, and describe it. Would that have to change for the organization to manage the relationship with and value of one customer at a time? If so, how?
Choose an organization and draw its organizational chart. How would that chart have to change in order to facilitate customer management and to make sure people are empowered, evaluated, measured, and compensated for building the value of the customer base? Consider these questions:a. If a
Customer analytics can be used for improving retention rates. How?
Often, the challenge in using predictive models boils down to a misunderstanding of the nature of cause and effect. Although statistical analysis might reveal that two observable events tend to happen at similar times, it does not necessarily mean that one event “causes” the other. What is more
From the customer’s perspective, which is better: to buy through one channel or through several channels? The obvious answer is to have multiple channels available—order from the Web, make returns at the store, check on delivery by phone—and have all of those contact points able to pick up
How is retention different from share of customer (SOC) as a measure and how would it be used differently? Why are both important?
Should the value of customers a company doesn’t yet have be calculated and taken into account in the present quarter? Why or why not?
If a company rewards employees based on a combination of current and future values of customers, how might that change decision making?
Let’s imagine you are the customer portfolio manager of a wireless phone company. How should you be evaluated at the end of the quarter? Straight sales from your customers? Net sales (sales minus cost to serve)? Customer satisfaction? Would it make sense for you to be evaluated on a combination
Imagine the 3-D photography tied to 3-D color printing that allows the creation of individualized tabletop sculptures of customers themselves, their children, and their pets. Although the product has immediate commercial promise, the real question is how a company as well as a customer could
Name half a dozen examples of mass customization or expanded needs sets in the enterprises where you do business.
If customization is such a good idea, why don’t we see more of it in the marketplace right this minute?
How will Lego practice mass customization? To think about mass customization for Legos, consider:■ Who are the customer types for Lego? (Think retailers, B2B.) Who are the MVCs? The most growable customers (MGCs)? The below zeros (BZs)?(See Chapter 5.)■ What are customers buying when they buy
Compare the situation of Big Business versus Big Brother having detailed information about you.
What is the difference between privacy and data security, and how should that difference affect the way we use customer data?
Is anonymity the best solution to privacy?
Who owns a customer’s information?■ Who should profit from it?■ How would that work?
What do you think about Comcast customers taking Frank Eliason’s place for the day? Would you ever help a fellow consumer through Twitter or Amazon or any other Web site? Would you be shocked if a stranger offered to help you?
Now answer the questions in number 1 for:■ A natural gas company■ A retail shoe chain■ A company that makes pneumatic valves for construction■ The U.S. Navy■ Other kinds of organizations (you decide)
Now imagine you work for a large automotive company and answer all the questions in number 1, Are your answers different? Why or why not?
You’ve been appointed as the new chief marketing officer (CMO) for a large packaged-goods company. Your CEO has decided that your company will be the premier “relationship” company in your industry.■ What could that mean?■ How will you execute that?
Just as important, you must realize that for 90 percent of your community’s population, “engagement” might not involve actual “participation.” Don’t mistake lack of actual conversational input as lack of interest. These people still read, they consider, they think . . . and they use the
If you want a vibrant online social community, you have to invite the people who will drive the conversation. So you must ask yourself: have you invited this 1 percent? That is, have you publicized the community in venues where these 1 percenters can be found, and will your community be attractive
When you plan to buy a product and want to investigate its benefits and drawbacks, whose advice do you seek? Do you think the advertiser will tell you about the drawbacks, or just the benefits? If you are trying to evaluate the product by researching it online, do you have more confidence in it if
How does the European book club mentioned in the discussion of complaint discovery actually know that it’s the calling program that led to 6 percent fewer dropoffs and 8 percent more sales per member? Might it not have been the book selection that year? Or the economy?
What are some of the explicit bargains companies have made with you in your role as a customer to get some of your time, attention, or information?
What problems might occur if an enterprise participates in customer dialogues but its own information and data systems are not integrated well? Do you remember any personal experience in dealing with a company or brand that could not find the right records or information during your interaction
TiVo and other digital recording devices collect very specific data about household television viewing. These services make it possible to know which programs are recorded and watched (and when and how many times), which programs are recorded and never watched, and which programs are transferred to
For each of the listed product categories, name a branded example, then hypothesize about how you might categorize customers by their different needs, in the same way our sample toy company and pharmaceutical company did. Unless noted for you, you can choose whether the brand is business to
Is it possible to meet individual needs? Is it feasible? Describe three examples where doing this has been profitable.
If it could only do one, is it more likely that a customer-oriented company would rank all of its customers differentiated by value or differentiate all of its customers by need?
Why has more progress been made on customer value differentiation than on customer needs differentiation?
For each of the companies listed in number 4, what’s the next step? How does a company use the information about customer value to make managerial decisions?
What policies are successful, and what policies are likely to create mistrust?What are likely to be the best measures of actual and potential value for each of the listed customer bases? How would you confirm that your answer is right?Would the company likely be best served by proxy or
Search the Web for a company that has successfully “fired” customers in the past. If you were facing a detractor—someone who said that it’s wrong to treat different customers differently—how would you defend “firing” customers in this reported or even a hypothetical instance?
How often should actual value be calculated? Potential value? Why?
Why is it not enough to consider average customer value?
How can a company identify customers when those customers don’t talk to its representatives very often, if at all—at least not individually? (Consider a pet food manufacturer that sells to retailers, not directly to consumers. Or a convenience store that operates on a cash basis. Or a fast-food
One of them treats you as if you are a new customer every time you show up, or at least any time you show up anywhere you haven’t done business with the company before. At the other company, you are recognized as you, every time you have any dealings with the company. What’s the effect on you
Describe and name two companies you have done business with as a customer.
In the past few years we have seen many examples of the breakdown between company governance and stakeholder interests. Do you think these corporate scandals might have played out differently if the corporations involved had built their businesses on the basis of becoming trusted agents for their
Now that you’ve read Green’s essay on trust, can you think of examples of companies that have little or no self-orientation? What are the signs that a company has too much self-orientation? (Check the company’s stock performance for the past 15 years.)
Do you agree or disagree that a relationship must always be characterized by some level of emotional involvement? Why?
Think about the companies you do business with as a customer. Name an example of a company that identified and recognized you, one that differentiated you by need or value, one that has made interaction easy and fun, and one that has changed something about the way it does business with you now,
Pick a brand that you will always buy. What happened specifically to create this loyalty from you? Is there anything that could dissolve your loyalty or make it even stronger?
James Barnes says an important ingredient to a good relationship is an emotional connection, but customer relationships have elsewhere been referred to as a bond of value or a bond of convenience. What do you think? Do customers have to love a product or company in order to have a
Based on what we now know about the essence of relationships, is it possible for a customer to have a relationship with a commercial (or other) firm? Is it possible for a customer to have a relationship with a brand? Is it possible for a firm to have a relationship with a customer—especially a
“The new interactive technologies are not enough to cement a relationship, because companies need to change their behavior toward a customer and not just their communication.” Explain what this statement means. Do you agree or disagree?
In the age of information (and connectivity), what will be happening to the four Ps, traditional advertising, and branding? What happens next?
How can we account for the upheaval in orientation from focusing on product profitability to focusing on customer profitability? If it’s such a good idea, why didn’t companies operate from the perspective of building customer value 50 years ago?
If retention is so much more profitable than acquisition, why have companies persisted for so long in spending more on getting new customers than keeping the ones they have? What would persuade them to change course?
Understanding customers is not a new idea. Mass marketers have done it for years. But because they see everyone in a market as being alike—or at least everyone in a niche or a segment as being alike—they “understand” Customer A by asking 1,200 (or so) total strangers in a sample group from
You’re very happy in your new country, but you have some extra time and know that you should be preparing for the inevitable culture shock. What should you start to do? Directions: Go to http://book.culturewizard.com and join the discussion.
What are some of your ideas about strong leadership in the global marketplace? Directions: Go to http://book.culturewizard.com and join the discussion.
Women are often more skilled at mirroring the behavior of a culture than are men. What behaviors have you learned to mirror in order to get the results you want? Directions: Go to http://book.culturewizard.com and join the discussion.
Women who are technical experts face fewer challenges being credible in hierarchical cultures than do nontechnical businesswomen. How can women develop credibility in relationship-driven cultures? Why do you think this is happening? Directions: Go to http://book.culturewizard.com and join the
Your company believes that 360-degree feedback is very valuable. Could you introduce it to your Japanese division? Directions: Go to http://book.culturewizard.com and join the discussion.
You’re presenting a program regarding a rollout of a new production process. Your audience is multicultural, including Latin Americans, Africans, and Asians. How might you approach the session? Directions: Go to http://book.culturewizard.com and join the discussion.
You spent three days in meetings and it’s time to return home, yet you can’t seem to get the meeting participants to agree on the plan you’ve been discussing. You decide to return home and reconvene the group virtually. Was that the right decision? What other options did you have? Directions:
You’re going on a business trip in which you’re going to five different countries to make a presentation, visiting one country a day. How do you make sure your presentation will be appropriate in each country? Directions: Go to http://book.culturewizard.com and join the discussion.
Your American boss is not all that amenable to allowing long vacations for employees. You want to take a three-week vacation in several months. How will you approach the situation? Directions: Go to http://book.culturewizard.com and join the discussion.
You’re an American expatriate who has just moved to Spain. You work late into the night, long after everyone else has left. You can’t understand why people don’t comment on your strong work ethic. What do you think is happening? Directions: Go to http://book.culturewizard.com and join the
You’ve been sent to India to critique and modify a local accounting system. How will you introduce your role to the Indian management team? What should you be prepared for? Directions: Go to http://book.culturewizard.com and join the discussion.
You’re in a meeting in Brazil and need to talk about a business venture that did not succeed. How would you position it and your role in it? Directions: Go to http://book.culturewizard.com and join the discussion.
You’re running an international meeting and have a lengthy agenda that requires you to curtail debate and discussion. You feel good about how you’ve stayed on schedule by limiting people to two minutes of speaking time. When you break for lunch the first day, you’re told that your Mexican
Your French colleagues insisted that you take an extended lunch at a restaurant even though you were getting close to your deadline and hadn’t finished all the work you had planned. The Canadians on the team were dismayed. Why? What was going on?Directions: Go to http://book.culturewizard.com and
You’re an innovative manager of a global team of software developers. You lead many conference calls and believe many of them are a waste of time. What can you do to improve the use of time? Directions: Go to http://book.culturewizard.com and join the discussion.
You are introducing a new performance review process and have designed a form that makes it quick and easy to give feedback. It worked well in your home country, and everyone appreciated how it delivered both performance evaluations and 360-degree feedback. To your surprise, your local managers
There is a Swahili proverb,“A man alone cannot push a boat into the sea.”7 What do you think it means? Directions: Go to http://book.culturewizard.com and join the discussion.
You’re going to India and know that as soon as you land, your Indian peers are going to meet you at the plane, take you out for dinner, and keep you entertained for the duration of the visit. Last time, you were exhausted because you weren’t able to have any private time.You would like to have
You’ve been asked to create an employee-of-the-month recognition program in your Jakarta, Indonesia, office. You’re on a conference call with a group of local managers who can’t seem to come up with a single employee’s name for the first month’s award. What do you think is happening?
You have a limited amount of time on your visit to introduce a new quality control procedure to your company’s Naples, Italy, office. You can’t seem to get agreement on an implementation plan. It seems that the group won’t accept majority rule. This is preventing a decision. What do you think
You’re attending a meeting in the Netherlands with Dutch, Swiss, and Norwegian colleagues. You’re finding it difficult for the group to come to a decision because everyone is expressing opinions—both agreeing and disagreeing—and being extremely blunt. Is there any way to curtail the
You’re working with an outsource team in India that consists of very smart people, some of whom have been educated outside India. You’re surprised that when an aspect of the project is finished, the team waits for you before proceeding to the next logical step. Why do you think this is
Why do you think it’s important to position yourself on the CW Model„ scale? Directions: Go to http://book.culturewizard.com and join the discussion.
Think about the three or four cultural dimensions that you believe are the most crucial to understand. Why? Directions: Go to http://book.culturewizard.com and join the discussion.
Within the context of the DaimlerChrysler situation, do you think that the corporate cultures or the national cultures played a bigger role? Directions: Go to http://book.culturewizard.com and join the discussion.
You just finished a meeting with your German colleagues and cannot understand why they have scheduled three more planning sessions when you were ready to begin tackling the task at hand. What do you think is going on?Directions: Go to http://book.culturewizard.com and join the discussion.
You are in Spain on a sales trip for your organization. You’ve just had a very good meeting. The prospect you were calling on thought your product was great and saw how it could fit directly into his company’s needs. Yet every time you call, there is general agreement but you cannot see any
You’ve just arrived in Brazil with a challenging assignment and a tight time frame. You have a lot of appointments scheduled and an ambitious set of objectives. You want to get right down to business. You are frustrated because everyone is wasting time. No one seems to be moving on your timeline,
=+21. Why are governance mechanisms often not useful for addressing an existing relationship conflict?
=+20. What are the principles of destructive communication?
=+19. What are the principles of constructive communication?
=+18. In what way can the idea of ‘conflict rooms’ help in addressing conflict?
=+17. Why is integration often the most promising conflict-management style?
=+16. With regard to conflict-management styles, what are the advantages and disadvantages of domination, accommodation, avoidance and compromise?
=+15. What steps are often seen in conflict escalation?
=+14. How are the past, present and future interrelated in conflict situations? Why are discussions about the past often not helpful for addressing conflict?
=+13. How are task and relationship conflict interrelated?
=+12. What is the difference between task and relationship conflict?
=+11. Why are family firms fertile grounds for conflict?

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