Doom Loop and Flywheel Essay

Pages: 4 (1286 words)  ·  Bibliography Sources: 4  ·  Level: Master's  ·  Topic: Business

SAMPLE EXCERPT:

[. . .] However, they chose to go a different direction. By becoming the first in their industry to do something, they held the proverbial 'ball' in the court and began dictating trends, rather than following them. This is the key difference of Apple compared to Macy's. While Macy's is struggling to keep up, Apple is leading the way.

The image of a foot race comes to mind when comparing innovators versus followers or those lagging. Imagine five runners. One is in the lead, three are barely able to catch up to him, and then there is one in the back, not even close, no hopes of winning. Apple is the runner in the front. When someone is in the lead, although it can be hard to maintain the lead, the momentum gained from being first can lead to continued momentum and eventually a win.

Apple was back then, one of the three runners in the middle. They were struggling to reinvent themselves and essentially tried to keep up with Microsoft. However, thanks to people in the company like Steve Jobs, they created a product that led to a brand-new market. They monopolized that market, making their smart phone that fastest compared to the android competitors, and maintained their lead. Now a decade later, they maintain their lead, continuing to produce product or acquire products that add to their momentum.

Along with their constant and consistent innovations, Apple Inc. aims to provide customers with a pleasant shopping experience at their stores and online. "Thus the three principles might be summed up as (1) understand and serve the customer better than anyone else, (2) forget about everything else, and (3) make sure every little thing you do serves (1), always and everywhere" (Allen, 2011). Although Apple Inc. is not known for their customer service, it did provide a strong foundation to pitch their new products to customers.

Macy's on the other hand is stuck in the middle. They may eventually become the last runner, possibly facing an end to its existence in the retail industry. Although there is hope for them to continue and succeed, they must try to understand where they are having problems and either innovate or partner with the innovators. Changing direction towards a constructive format can help Macy's in the long run.

In terms of public safety organizations, these two examples apply. There is a need for constant improvement and innovation. Potential threats of natural disasters loom by as news of constant fires and floods occur. What these two businesses taught me is that if not enough momentum is applied in the right direction, it is very hard to manage to gain that success otherwise.

Picturing the win being public safety, if not enough resources are devoted to prevention of natural disasters like flooding through environmental conservation, more natural disasters will occur. Furthermore, there needs to be practice on how to improve evacuations and tools to detect impending storms, floods, and fires. This can help greatly in minimizing loss and death.

In conclusion, organizations can become innovative and take on the role of front runner. They could also be followers and barely keep their heads above water. Or, they can be the last one, lagging, and losing. This is the world of business and reality. Nothing good comes from lack of improvement, especially when faced with a dilemma.

References

Allen, F. E. (2011, November 7). The Three Principles That Always Drove Apple. Retrieved from https://www.forbes.com/sites/frederickallen/2011/11/07/the-three-principles-that-always-drove-apple/#504f09b914a3

Schlossberg, M. (2016, June 27). Declining store traffic is killing top brands like Macy's and Gap - Business Insider. Retrieved from http://www.businessinsider.com/declining-store-traffic-is-killing-top-brands-2016-6

Singleton, M. (2017, May 2). Apple Watch sales have nearly doubled since last year - The Verge. Retrieved from https://www.theverge.com/2017/5/2/15523162/apple-watch-sales-revenue-earnings-call-wearable-other-devices

Tode, C. (2015, January 1). Macy's restructures as overly promotional mobile strategy takes its toll | Retail Dive. Retrieved from http://www.retaildive.com/ex/mobilecommercedaily/macys-restructures-as-overly-promotional-mobile-strategy-takes-its-toll [END OF PREVIEW]

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