Blog Assignment #5 The "six senses"

            A Whole New Mind reveals the six essential aptitudes on which professional success and personal fulfillment now depend, and includes a series of hands-on exercises culled from experts around the world to help readers sharpen the necessary abilities. Moreover, it will change not only how we see the world but how we experience it as well. Each of these six senses plays a different role in the ways we view the world and how we think.

Who will rule the future? The brainier or the one with the potential and guts to expand the inner talent that they has.  Some would say of course it would be brainier, the genius for they got the possible answer for the questions that life would be throwing them, but others then says it is the one with the person who has the right potential, inner talents or uniqueness and the guts who will eventually rule the future.

             As we get older, age will comes along with the tough decisions that we needed to decide and do in our life. There are a lot of obstacle that we needed to face in our life and we have to be sure about the things that we are about to make for we only has one shot of it. As an effective worker the obstacles that I was foresee to encounter would be able to focus on the things that I’m doing at the same time able to choose the right things that would lead me to the right path. Knowing what you love, what would be your priority in life is the greatest obstacle one had ever faced in his entire life.

            It is part of the game of being an effective worker the things that we had never imagined of, one should keep still and focus on the things that matters. As a matured individual one should know the things that are more important in his or her life and would not dwell on the things that make his or her life miserable.

            Be positive in life; design your life to make it go to the right direction. Know the things that makes you happy, live life for the lighter just enjoy every second of it, cause the greatest obstacle a person could ever encounter was to enjoy life and worry no more about tomorrow. 

References

Pink's 6 Senses. (n.d.). Pink's 6 Senses. Retrieved March 1, 2014, from https://sites.google.com/site/pinks6senses/home

Blog Assignment #4 The Neural Network Application

A neural network is a software that simulation of a biological brain. The purpose of a neural network is to learn to recognize patterns in your data. Once the neural network has been trained on samples of your data, it can make predictions by detecting similar patterns in future data.

Neural networks are a branch of the field known as "Artificial Intelligence". Other branches include Case Based Reasoning, Expert Systems, and Genetic Algorithms. Related fields include Classical Statistics, Fuzzy Logic and Chaos Theory. A Neural network can be considered as a black box that is able to predict an output pattern when it recognizes a given input pattern. The neural network must first be "trained" by having it process a large number of input patterns and showing it what output resulted from each input pattern. Once trained, the neural network is able to recognize similarities when presented with a new input pattern, resulting in a predicted output pattern.

Neural networks are able to detect similarities in inputs, even though a particular input may never have been seen previously. This property allows for excellent interpolation capabilities, especially when the input data is noisy (not exact). Neural networks may be used as a direct substitute for autocorrelation, multivariable regression, linear regression, trigonometric and other regression techniques.

When a data stream is analyzed using a neural network, it is possible to detect important predictive patterns that were not previously apparent to a non-expert. Thus the neural network can act as an expert.

An Example of Neural Network: Bank Loans

Imagine a highly experienced bank manager who must decide which customers will qualify for a loan. His decision is based on a completed application form that contains ten questions. Each question is answered by a number from 1 to 5.

Early attempts at "Artificial Intelligence" took a simplistic view of this problem. The Knowledge Engineer would interview the bank manager(s) and decide that question one is worth 30 points, question two is worth 10 points, question three is worth 15 points,...etc. Simple arithmetic was used to determine the applicant's total rating. A hurdle value was set for successful applicants. This approach helped to give artificial intelligence a bad name.

The problem is that most real-life problems are non-linear in nature. Response #2 may be meaningless if both response #8 and #9 are high. Response #5 should be the sole criterion if both #7 and #8 are low.

Our ten question application has almost 10 million possible responses. The bank manager's brain contains a Neural Network that allows him to use "Intuition". Intuition will allow the bank manager to recognize certain similarities and patterns that his brain has become attuned to. He may never have seen this exact pattern before, but his intuition can detect similarities, as well as dealing with the non-linearities. He is probably unable to explain the very complex process of how his intuition works. A complicated list of rules (called "Expert System") could be drawn up but these rules may give only a rough approximation of his intuition.

If we had a large number of loan applications as input, along with the manager's decision as output, a neural network could be "trained" on these patterns. The inner workings of the neural network have enough mathematical sophistication to reasonably simulate the expert's intuition.

References

An Introduction to Neural Networks. (n.d.). An Introduction to Neural Networks. Retrieved February 14, 2014, from http://www.cs.stir.ac.uk/~lss/NNIntro/InvSlides.html

What is a Neural Network. (n.d.). What is a Neural Network. Retrieved February 14, 2014, from http://www.cormactech.com/neunet/whatis.html

Neural Networks. (n.d.). Neural Networks. Retrieved February 14, 2014, from http://www.doc.ic.ac.uk/~nd/surprise_96/journal/vol4/cs11/report.html

Blog Assignment #3 Nucor Steel’s Strategies Applied on Apple Corporation

Knowledge management is referred to the process of handling data and information in a certain organization. Through the proper management of information, a company will be able to formulate strategies and techniques for the betterment of the business. According to Nucor Steel, the use of knowledge management is an effective way in giving a company an edge to have competitive advantage. If knowledge is managed properly in a company, it will be available to all concerning people in the organization any time they want. With this, the organization can then increase the efficiency of its operation and could grow and develop faster.

For instance, the Apple Corporation on its Apple Mobile Smartphone would apply Nucor Steel’s strategy. We all know that the iPhone is already one of the most recognized brands of smartphones in the world and it captures a fairly high market share. However, the Apple Mobile Smartphone is faced with many competitors using the Android Operating System such as Samsung Mobile, Lenovo, LG and others. Nucor has been cutting its prices to make its products more affordable. Today’s market is in need for devices that are not expensive enough. The iPhone is known for producing expensive smartphones which only people with higher income can afford. If iPhone will be able to cut its, it may have the chance to lower the prices of each series of phones. Another thing was being socially connected. The iPhone has many applications in it, but, I believe it’s not yet enough to settle because it’s competitors, Android OS users, had been pursuing many improvements especially on its social media. If iPhone could even more create applications that are basically useful for many, it may have increased its sales and market share.

Knowledge should be assessed properly. Ideas should be consolidated well in order that it could yield good benefits for the business. Best alternative should always be applied.

Blog Assignment #2 Knowledge is an important element of good products or services.

In this world, knowledge is the key of business. The psychology of business has changed. This revolution of knowledge creates a kind of threat for those companies that were not done any preparation for it. We have seen many products, service or company that is no longer competitive, such as Compaq. Once upon a time, there was a computer brand called Compaq. It was one of the largest sellers of PCs in the entire world in the 1980s and 1990s. Compaq no longer exists primarily because it lacks some kind of knowledge. So, those who use old methods of production and old styles, eventually, they and their products will be out of the business circle. Nowadays, companies that have brain to create innovative ideas, they not only survive but also gain profit. These days’ people have lots of way to know about styles products and new trends. Therefore, those who maintain and up to date can survive in this competitive world.

Sometimes it is working but it needs more homework and struggle to do this. Main reason is that every market has its own atmosphere. In this atmosphere, old business trend are not fulfill the requirements. Organizations and firms do not know market knowledge completely, customer’s nature, market competition and profit trends. Those who research well they definitely earn abnormal profit. Another reason is market risks; if they apply new ideas and indulge informative, they definitely reach people and grasp the market very well.

 If an old firm or product creates a network in new markets, they definitely survived and dominate the market as well.  We have seen such examples in this regard like Bank of America and Hertz. If firms and organizations use modern techniques, hey survived in this competitive market. If companies and organizations improve their competitive power, controls the business elements and production process, they can achieve new market demand. Another thing is that if companies reduce its cost it reduce price and risk as well this act help firms to stand in the market.

   In conclusion, knowledge and better marketing will make the firms or organizations survive and competitive because it accommodates the new market demand. Moreover, new ideas will definitely click and overcome company’s status. Marketing with new technologies like TV, Internet and print media including pamphlet, flexes and new ideas makes old products survivable in the competitive market. 

Sources :

-    Dollinger M.J. (2006). ‘Entrepreneurship strategies and Resources' 3rd eddition. New delhi: Pearson Education.

- Kay, Z. Z. Building The Business Plan:Beginning Considerations.

-  Wunker, S. (November/ December 2011). ACHIEVING GROWTH BY SETTING NEW STRATEGIES FOR NEW MARKETS. Ivey business journal .

Blog Assignment #1 The Dinners Club

Overview and Functionality

The focus of this Successful Company Performance assignment would be on analysis based on significance of stakeholder and the techniques require making them more effectively managed. Being the soul of any organizations, every organization’s basic goal is to increase the wealth of Stakeholders and fulfill their needs. We have selected The Dinners Club is running and managing by four partners. The Dinners Club is one of the best restaurants chain among all over the UK. It is situated in Bray England, and was developed in 1995. The success of the organization and stakeholders connected with each other so stakeholders lead the restaurant towards success. In 2009, the restaurant achieved the best restaurants award and gave 400 dinners and celebrated the success. The Dinners Club has been awarded by world’s 50 best restaurant.

Financial Process to Make Company Successful

·         The Dinners Club is providing specialized vegetarian food.

·          Attractive offers for customers.

·          Supreme taste.

·          Relax environment to be with family and friends.

·          The attractive location and best place to sit and enjoy.

·          Menus are decided in a proper way.

·          Good communication with staff to have best meals.

·          Different banners on road for the public guidance.

·          The Dinners Club is also running many programs on TV channels and you can also follow their recipes channel on YouTube.

Financial Analysis

Financial position of the company describes the actual value of the investment at any time. So, The Dinners Club has a fine plan for the customers with different offers. Administrative Controls which include developing and announcing of the principles, measures, methods, and guidelines and screening of staff in the restaurant. Conducting security-awareness teaching and applying change control methods, mechanical or ordered Controls which include Implementing and maintaining get access to control the menu management. A specialized menu scheme facilitates database control in a business, which permits the facts and figures transfer method to be consistent and united throughout the various partitions and departments that are renowned of restaurant’s kitchens. The foremost advantage of an offering scheme is bringing down the charges and keeping the valuable time which would have otherwise been trashed in procedural maneuvers and unwanted hold ups. Different offers are an amalgamation of three significant components; business administration practices, data expertise and specific enterprise objectives. An ERP answer will supply The Dinners Club. With a comprehensive overview of their enterprise which in turn will leverage conclusion making this all.

References

Admin, (2012).The Dinner’s Club. Retrieved on: 14^th December, 2013

Watson, D., and Head, A., (2010). Corporate Finance: Principles and Practice, 5th edition, Prentice Hall

AlfioVidotto, (2007). Managing Restaurant Tables Using Constraint Programming
Available at: http://tidel.mie.utoronto.ca/pubs/Theses/vidotto.phd.pdf Retrieved on: 14^th December, 2013

Ready, D., & Conger, J., (2007). Make your company a talent factory. Harvard Business Review, June, 69-77.