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Burger King’s Hot Dogs

Posted by Peter Sandstedt

BK Grilled Hot Dogs

In last week’s Communication Strategy and Competition course, Professor Aron introduced an article about Burger King selling hot dogs and the impact it may have. Burger King is unique to other fast food restaurants because it uses open-flame grills to cook their meat. (Think about it – Burger King’s hamburgers have grate lines, but McDonald’s hamburgers do not.) This unique resource can be a valuable asset in helping Burger King create a competitive advantage because it is very hard to imitate flame-grilled hot dogs. Other fast food restaurants like Sonic and Dairy Queen already sell hot dogs, but they do not use grated grills. If Burger King’s hot dogs succeed, it will be interesting to see how other fast food restaurants respond to Burger King’s new advantage.

This was just one of the case studies we looked at and after reading the other case studies Professor Aron provided, I came to a realization. I had started reading the articles like an Economist! Instead of focusing on the mere content of the article, my mind started identifying the various threats that the companies were trying to eliminate and the opportunities they were pursuing. I started brainstorming the valuable resources the companies owned that made them successful organizations in their respective industries. I also started envisioning what the future would look like for these companies based on the recent decisions they were making.

It’s amazing to see how much progress and growth I’ve made in six Saturday class sessions. I love reading the case studies Professor Aron provides us because they are reinforcing the concepts we are learning in class and through our textbook. Even though all the elective options are fantastic in the MSC Winter Quarter, I’m especially thankful I chose to take Communication Strategy and Competition.

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Categories: communication strategy and competitive advantage, Communications Insights, MSC

Retail Shopping

Posted by Madison Adduci

We all shop, whether we go to the store or shop online. However, where you decide to shop effects other stores surrounding you. Some stores are using a great strategy to get your business, which seems to be working.

Let me explain. As a whole, we realize that big stores like Wal-Mart can be seen as a predator on little family owned stores. Wal-Mart is a hard store to compete with since they have a wide range of products for a very reasonable price.

But, did we know that big stores are taking business away from other well-known, big stores? Wal-Mart is knocking Sears out of the retail world because they cannot keep up with competitive pricing.
Shopping at these big stores is putting little stores in your town out of business. Small businesses need your help to keep their doors open.

Amazon is another top competitor in retail, but in the online world. When people decide they need to order a book, they go to Amazon. When people need to order shoes or sports apparel, they visit amazon for a better price than in other stores. Amazon allows you to search multiple different sellers to find the best price possible, for a used or new product.

“Money back guarantee” is the best phrase and strategy to get consumers to purchase goods. You buy something and don’t like it once you get it? Return it, no problem. You break it? Return it. This is the best strategy for stranger selling, since you don’t know the person you are buying from personally. If you are going to buy something and you know you can return it with no issues, wouldn’t you be more likely to buy it? The answer is most likely yes, because it takes the risk out of spending your money on a product.

Sephora is another company who uses this strategy. You can purchase anything from Sephora, online or in the store, and return the product if you don’t like it, as long as it is less than half used. This is amazing. You can buy mascara, try it out for a week or two, and still return it if you don’t like the way the product works for you.

Did you know that Bath and Body Works has a similar strategy? If you buy something and don’t like the way a lotion smells on your body, or a candle smells once you light it, bring it back. Even if it is half used.

By using this strategy, the consumer has no risk of purchasing a product from that store. It makes the customer more apt to buy something, especially online when they haven’t seen the product in person.

The retail world has changed over time and has become more of an online shopping world. Whether you are shopping at big stores or small businesses, keep on spending your money because you are helping the global economy as a whole.

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Categories: Dilip Gaonkar, globalization, Grad School, MSC, NU

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Location: We are Lucky to Live Where We Do

Posted by Madison Adduci

It was just brought to my attention that there are only 18 sessions left of the MSC program. That just seems hard to believe, in my opinion. I feel like we just met at a meet and greet and started class… I guess it is true: time flies.

We should make the most out of every second we have in the classroom with our cohort, because before we know it, the program will end and we will all go our separate ways.

I think the best part about this program is the diversity. We all come from different backgrounds, cultures, and countries yet we all mesh together in the same location for one end goal: a Master’s degree in Communication.

Sitting in the Global Strategy class, we were taught about location and why it is so important. I think as a whole we understood this concept but then we were shown this video about two girls from different backgrounds, doing the same job and it really set in, at least it did for me.

In this video, both girls make t-shirts. However, depending on where the girl lived she made a different income. One girl ended up making four times as much money because she lived in a different country and she was doing the same amount of work as the girl making way less somewhere else.

The t-shirt video was unbelievable to watch because it was eye opening. As a person who lives in the United States, you realize how blessed you are to be raised where you were, to live where you do. In my last blog, I mentioned how someone in California would make more money than someone in Chicago, where I live. But in reality, it is better to be located in Chicago, Illinois than it is to be located in one of the places either t-shirt girl lives or many other places in the world.

We are all lucky to be located in a world that allows us to study at Northwestern and be able to earn a Master’s degree, no matter what path we took to get here.

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Categories: Dilip Gaonkar, globalization, MSC, Northwestern, NU

Where is Your Focus?

Posted by Peter Sandstedt

When developing a business strategy or mission, how much attention should you give your competitors? Is it better to focus on your company’s strengths and weaknesses, or try to imitate the strengths of your rivals? This is one of the questions that arose from our latest class session.

As individuals, we are tempted to compare ourselves with our peers. We judge how we look, perform, and act relative to our friends, co-workers and even strangers. One of the reasons why we do this is to justify our egos and self-worth. Our self-confidence blooms when we are better than someone else and we feel depressed that we are not as good as someone else. Ideally, it is better that we do not compare our accomplishments with others because it can limit our abilities or make us complacent with who we are.

Likewise, it is important for businesses to gauge what their competitors are doing to ensure they do not fall behind in their industry. However, there is only so much a company can do from evaluating its competitors. As the old saying goes, “control what is within your control.” In order to make one’s business a leader in the industry, efforts are best spent focusing on innovating and developing the company’s strengths and eliminating its weaknesses.

A prime example of this is Northwestern University. Northwestern compares its standards and procedures with other rigorously academic institutions such as Harvard, Yale, and the University of Chicago. Yet, Northwestern continues to be one of the prominent and top Universities in the world because it focuses on preparing its students to be the leaders in their respective fields. NU is always providing its students the finest instruction and fully supporting its faculty to research new endeavors.

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Categories: communication strategy and competitive advantage, Communications Insights

Location and Why it is Important

Posted by Madison Adduci

Are you in the right location to make the most money for your career?

Have you ever thought about this question in depth? Where you live matters more that you know. Until recently I had not thought about it. I always figured I live close to Chicago, which was a blessing because there are endless opportunities in the city, however, after researching the best cities to live if you want to be a designer, I realized I am actually better off living in California.

Did you know that two people doing the exact same job in two different cities make a significantly different salary? Crazy, right?

I highly suggest researching the cities best suited for your career. Warning, you may feel underpaid in your current job with a strong urge to relocate. But that’s just fine; people move all the time within the same country, it is known as internal movement.

Where you go to college, what you pick as your career and where you decide to live are three major life questions that people as a whole need to think deeply about before making a decision.

The answers to these questions will determine the rest of your life. Think and answer wisely, your future depends on it.

 

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Categories: Dilip Gaonkar, MSC, Northwestern

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Professional Growth and Maturity

Posted by Peter Sandstedt

I am truly starting to see changes in myself since I joined the MSC Program. Earlier this week, I had the opportunity to meet with my boss and ask her some questions I had formulated while sitting in class. I was curious how and why our business processes worked the way they did. I wanted to know more about our strategy to market our department better. I wanted to learn how funding worked in our organization and if there were areas we could improve our operations.

Although I cannot go into the specifics, my boss was thrilled that I was asking these questions. It shows that I am becoming more invested in my organization. She provided me with excellent answers that gave me a better understanding of how our organization operates and the impact our department has within the organization.

Unfortunately, our meeting was cut short by another previously scheduled meeting, so I did not have all my questions answered. However, the answers I did receive were very enlightening and helpful. They even prompted new questions that I will be asking my boss next time.

I know my classmates are evaluating their job positions and organizations with the new-found knowledge they are gathering as well. When Graduation Day arrives in August, we can reflect on the maturity growth we experienced over the last year and celebrate all that we have accomplished and will accomplish in the years to come.

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Categories: MSC Value

Creating a Competitive Advantage

Posted by Peter Sandstedt

It’s the objective that every company would love to achieve – to create a competitive advantage over their rivals in the industry. A competitive advantage is when a company has more economic value than the other companies in an industry. An example of this is Facebook in social media. Even though there are other options such as Twitter, Instagram, and (“cough”,) Google-Plus, Facebook has created a social media experience that leads all others with 1.44 Billion Monthly Active Users.
So, how does a company acquire a competitive advantage? The company needs to make its resources and capabilities better than its competitors’. So, when a leading company boasts its success comes from high quality management teams, high quality technology, and a commitment to excellence, don’t be surprised. Most companies will list these reasons for its success. Therefore, these attributes don’t necessarily lead to creating a competitive advantage.
Instead, it is important to look at some of the intangible resources of a successful company. For example, our course’s textbook listed the janitor of a company could lead to a competitive advantage. By doing their job to the best of their ability, they are creating an environment that is optimal for the other employees to work in. This can motivate the other employees to perform their jobs to the best of their ability too. So, if the successful company is the only one in the industry that has highly motivated janitors, that is an exclusive benefit it has over the other companies that can lead to a competitive advantage.
In Facebook’s case, it was one of the first-movers in the social media industry and had a more user-friendly system. This early start is a prime reason why Facebook has the most users and a competitive advantage over its competitors. However, it must protect its status as the leader in social media users to maintain its competitive advantage. Rather than be complacent with what it has done or is currently doing, Facebook continues to innovate and update its system to incorporate new benefits that its users find attractive.
If you want to make your company or organization better, it is important to identify the overlooked areas or resources that can be improved. In doing so, this is a prime way to gain that edge over your rivals. After today’s lesson, I am definitely challenged to find ways to make the organizations and groups I’m a part of the unique, paramount leaders in their fields.

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Categories: communication strategy and competitive advantage, Communications Insights

Why We Watch What We Watch

Posted by Madison Adduci

Have you ever thought about why you pick television shows and movies to watch? What draws you to that specific genre?

Discussed in Understanding Media Markets and Users class, we realized that sometimes people pick what to watch based on what they know they don’t want to see. Let me explain. If you are scrolling through looking for a date night movie to watch, you may not know if you want a Romantic Comedy or a Drama movie, but you know for sure that you don’t want a scary movie because you dislike scary movies.

Netflix is known for giving a person suggestions for what to watch next, based on what they have previously watched. Watch one Rom-Com and the suggestions are full of love stories for you to watch. They have a filter that adjusts to the specific users account.

TV networks have the same plan in a way. They base what shows go on which channel by looking at the audience. Lifetime has girly shows and movies, because majority of the audience is female. If a network had the option of putting Dance Moms or American Pickers on Lifetime, which do you think they would choose? Dance Moms. Why? Because the audience that tunes in to Lifetime would be more likely to watch it.

There is always a method used when big TV networks make decisions, along with Netflix and Hulu, even if we don’t realize it.

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Categories: MSC

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Strategy – Is the NFL Too Big to Fail?

Posted by Peter Sandstedt

It was a great first day of class in the Winter Quarter. The weather was unseasonably warm in Evanston for early January and everyone in the program came back from the Break refreshed and ready to learn. I am taking the Communication Strategy and Competition course which looks at how and why firms make decisions.
We started with the definition of Strategy – the theory a firm uses of how to excel in their industry. We then learned a firm’s ability to compete successfully depends on its ability to deliver Consumer Surplus – the difference between what a consumer values a product/service at and the actual price of the product/service. If a firm can create more Consumer Surplus than its rivals, then it will have a competitive advantage in the industry.
Later on, we learned about the types of structures of industries such as monopolies, oligopolies, monopolistic competition, and perfect competition. When we started discussing oligopolies, the industry of professional sports arose. A question was asked about the NFL and whether it could fail or regress given its recent issues. These include the players’ domestic abuse cases, criminal cases, team relocation proposals and safety concerns. These are weaknesses within the NFL that can produce a negative effect on its performance in the industry.
It’s fascinating to see how the NFL is combating these weaknesses and changing its strategy to remain the premier firm in the professional sports industry. They have embraced Fantasy Sports Leagues and are offering more ways for consumers to view their product. But the question still persists – will consumers grow tired of the NFL’s product and go elsewhere for their sporting entertainment?
As Professor Aron said, nothing stays the same in an industry. Firms are always tweaking their strategy to gain a competitive advantage over rivals which means the premier firm must continue to tweak their strategy if they want to preserve their competitive advantage. From this point forward, I am going to look at the decisions firms and companies make in a different manner. I will see these decisions as part of a strategy to create a competitive advantage in their industry. Whether they succeed or not will be determined by us, the consumers.
Personally, I think the NFL will hold its position as the premier sport for a long time. Even with its current weaknesses, the NFL is still the most popular choice for consumers participating in fantasy sports leagues and gambling. I believe this is the leading factor in the NFL’s product differentiation from other sports. Until another sport can provide a more entertaining fantasy or gambling experience, I think the NFL will continue to hold a competitive advantage in the professional sports industry. Whether I’m right or wrong, thinking through scenarios like this should hopefully increase my vision and ability to formulate optimal strategies in whatever business I’m in.

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Categories: communication strategy and competitive advantage, Communications Insights, MSC

Reflection of the Practicums

Posted by Peter Sandstedt

Now that the semester has finished and I have a few days off of work for the holidays, I am taking some time to review my notes from the Change Management Course and the Practicums I attended. Even though it was not required to take notes at the Practicum, I found all the instructors so enlightening on their topics that I wanted to remember everything they were saying. As a result, I have been able to revisit those Practicum topics and reflect on what I’ve learned.
As I was reviewing my notes from Jason DeSanto’s lecture on the “Dilemmas in the Law of Free Expression”, I found many hidden gems of knowledge that he mentioned, but did not have time to process during the whirlwind day. One such gem was an off-handed comment that the 1st Amendment was passed in order to secure the votes of a few states to ratify the Constitution.
Growing up, I remember learning about the 1st Amendment since it holds the most basic and inherent rights Americans use. (Freedom of the Press, Religion, Speech, Assembly, and Petition.) However, through all my years of primary and secondary education, I do not recollect learning the history of the 1st Amendment. Professor DeSanto’s comment challenged me to do some research and learn more about the 1st Amendment.
It turns out that members of the Constitutional Convention in 1787 were trying to create a stronger, centralized government. Their goal was to replace the Articles of Confederation with a Constitution that gave more power to the National Government. However, there was no mentioning of the 1st Amendment or the Bill of Rights in the Convention’s Draft Constitution and it was very unlikely that the States would adopt it. Hence, the 1st Amendment and Bill of Rights were added to give individual citizens rights and protection from a more powerful, centralized government.
This is just a basic historical overview, but after Professor DeSanto’s lecture, I suddenly was more interested and appreciative of the rights we are given by the 1st Amendment. The way he unpacked it and showed us how Free Speech has been challenged in Court made it much more personal to me.
These Practicums provided a fantastic opportunity to learn and I wish I could participate in the Practicums next year. Thankfully, I can revisit the Practicums I attended because I had the due diligence to take notes.

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Categories: Dilemmas in the Law of Free Expression, Jason DeSanto, MSC