Case Analysis Essay Example | Topics and Well Written Essays - 500 words - 12

Case Analysis - Essay Example His legacy as a leader illustrates how he used the values in different circumstances. Walton always empowered people and ensured that he maximized on people’s potentials besides inspiring people around him. He was also innovative, creative, and acknowledged people’s initiatives. Similarly, he closely related with his juniors whom he involved in his personal interest such as offering then a stake in his business. Walton also understood leadership’s impact as a long-term initiative and made long-term investments such as training people (Robinson, p. 1). This identifies â€Å"freedom,† â€Å"equality,† and â€Å"an exciting life† as his most important terminal values (Mio, p. 1). Freedom was his fundamental value as he demonstrated through hard work to self-liberalization and economic stability. After achieving his personal freedom in the corporate world, Walton offered an environment that promoted other people’s freedom in his work environment. He achieved this through his concept of creativity and innovation that allowed employees the freedom to apply their potentials, independently, towards developing required solutions. His value for equality was also demonstrated through his leadership style that lacked a strict organizational structure but involved all members in innovative problem solving processes. His interaction with junior employees that included offering them stake in his organization as well as relating well with them also demonstrated his value for equality among people regardless of their p ositions. An exciting life that is active and enriching is another evident value in Sam’s life and was demonstrated by his hard work that established his enterprise. He also empowered people around him and particularly promoted innovation and creativity among people with whom he worked. His long-term value for training was another illustration of his goal

Customer involvement in new product development Essay

Customer involvement in new product development - Essay Example 84). At the end of the day when the products are introduced to the market it is the customers who will buy them. This is the reason as to why some marketing professionals have the assertion that customer contribution can be of high importance to the process of introducing a new product (Hesselbach & Herrmann 2011, p. 207). Some people disagree with this assertion with claims that customers cannot really know if they want something that does not exist already. The purpose of this report is to enhance the understanding on the role that customers can play in the product development process. By the use of marketing theory, practice, and other marketing concepts this reports will prove just how important customer contribution can be to the development process of new products. It is important for a business organization to know that improving the relationship between them and the customers should go beyond just the economic relationship of buyers and sellers. The main aim of all organizations in the business world is to get a competitive advantage that cannot be undone. The ways through which they can be able to get such an advantage is through making sure that their products are valuable, rare, un-substitutable and un-imitable. Developing such a product is in no way something that can be considered a walk in the park. If in any case a product is to become valuable it is the customers who have to value it if in any case it has to do well in the market (Sandmeier 2008, p. 56). Therefore, it will be important for a business organization to know exactly what their targeted market values (Foss 2012, p. 129). By knowing what they value the company can also come up with a product that is not substitutable because they will be able to add the values that the oth er products that are already in the market are missing. In the process of developing and introducing a new product to the market, there is always some uncertainty. The