What to Look for in a Great Product Manager

What to Look for in a Great Product Manager In every organization, each member has a role to play. She has responsibilities and duties to carry out, and accountabilities that are unique to her person and position within the organizational structure. In a well-structured organization, it is easy to identify these roles: they each have their own titles and designation. In a manufacturing or development concern, considered to be one of the main players is the Product Manager. © Shutterstock | PureSolutionThis article invites you to 1) meet the product manager, 2) understand his role and responsibilities, 3) the basic qualitfications required for a great product manager, and 4) read about the traits of stellar product managers.MEET THE PRODUCT MANAGERFrom the job title alone, we may have an idea who a product manager is, and what her role is supposed to be. A quick Google search provides an easy to understand definition of a product manager: she is someone who communicates product vision from the lowest levels of executive leadership to development and implementation teams. Within an organization that is headed by a company CEO, she is the ruler of her own realm, or the CEO of the product.A product cannot be developed if there is no product manager to initiate its development. Based on customer demands in the market, the product manager will come up with a product vision, defining the WHY, the WHAT, and the WHEN of a product. She will then communicate the se to the product engineering or development team, which will then design and build the product. Throughout the process, the product manager will also bring in and oversee any changes that may be needed to make the process more effective. FUNCTIONS AND RESPONSIBILITIES OF A PRODUCT MANAGERMany are still confused as to what a product manager actually does. We know that she is an integral part of the organization. We know that, without her, there wouldn’t be a chance for a company to come up with a product that will appeal to consumers in its target market. Author Marty Cagan said it best when he described the product manager as the person who is meant to “discover a product that is valuable, usable and feasible”.Responsibilities of a product managerLet us take a look at the responsibilities of a product manager within the organization.Identification of profitable opportunities in the market. The ever changing nature of markets means that the demands would also be subject to cha nges. It is the role of the product manager to be alert and aware of these demands, and recognize opportunities to make a profit. If she noticed a specific demand, she will then think of ways for the business to come out with a product that will meet that demand. It is the responsibility of the product manager to identify product ideas and assess their viability. These ideas can come from a lot of sources, such as the customers themselves, the competitors and their customers, industry analysts and the members of staff in the organization, belonging to the different departments.Launching of new products into the market. Whenever you see new products being officially launched in the market, you can imagine a product manager working behind the scenes, pulling all the strings. She is the one to plan how the product will be introduced, and oversee the implementation of the plan. Aside from deciding on the “right product”, the product manager will also have to identify the “right ti me” for the product. In short, she will also be the one to decide the right timing to launch a product.Monitoring of progress or performance of products in the market. Once products are already in the market, they will still require continuous monitoring, which is another role in the hands of the product manager. She is tasked to oversee these existing products, in case they may need winding down, or if they are still performing so well that they could lead to more opportunities for the company.Winding down of products that are no longer profitable. At some point, the market may no longer need that product. The decline in demand can be due to many things, such as the introduction of newer products by the company or of better products by competitors, or a general disinterest for what the product has to offer due to the passage of time. Whatever the reason is, there comes a point when a business has to concede and wind down the products, until they are pulled out completely from the market. Just as the product manager is the one to determine the timing of when a product will be launched, she will also be the one to decide when a product has to wind down from the market.Development of customer relationships. Wait, isn’t this the responsibility of the marketing team? Why should the product manager have anything to do with it? Keep in mind that the customers are buying the products, which means that the product manager is still a stakeholder in this whole relationship.A product manager manages products, not the people. She may lead the people in her team, but she will not manage them. Notice that the product manager’s responsibilities pertain mainly on the product itself. After all, she is the brain behind the product, so she is the one with the heaviest responsibility in the entirety of the product life cycle. It goes without saying that the success of a product is on her shoulders; the profit and loss of the product is her responsibility. Functions and task s of a product managerIn order to carry out her responsibilities, we can list down several tasks or functions that a product manager has to perform on a regular basis. The product manager is always busy. Contrary to what many may perceive, the job of a product manager does not begin with just launching a product, and neither does it end when a product has already been launched in the market.Research. The life of a product manager involves a lot of research and information-gathering. She is the one who will actively go out and communicate with customers, as well as prospective customers, in the market. You will also find them conducting surveys and usability tests, and the market data they have gathered will then be analyzed in order to make informed and intelligent decisions regarding product management.Documentation. Product managers are also responsible for keeping files and records relevant to the product, such as complaints and compliments. There are also other relevant usable d ocumentation that are required, pertaining to the business, the market, and the product. Basically, any documentation that will have an impact on the product is relevant to the product manager.Communication with customers. As product managers are also responsible for developing customer relationships, she should communicate and interact with them through various means available. Product managers today are lucky, since there are a lot of means or avenues of communication that they can use apart from meeting with them face to face. They could communicate and collect feedback via email or telephone, or they can connect using social networks, blogs, or online forums and communities.Communication with other departments within the organization. A product manager is also seen as a bridge connecting the different departments that are directly and indirectly related to the product. She acts as a cohesive glue bringing Product Design, Product Engineering and Development, Operations/Production , Marketing, Sales, and Customer or After-Sales Service together.[slideshare id=54405562doc=productmanagementoct2015-151026222030-lva1-app6891w=640h=330]BASIC QUALIFICATIONS OF A PRODUCT MANAGERAn individual must have met at least these basic requirements in order to be qualified as a product manager. What separates a regular product manager from a great one, however, are the “extras”, or the characteristics or traits that they can bring to the table. So you want a smart product manager? Then you will probably check out what business degree she has earned, and from what school or institution she earned it from. You may even take a look at her other credentials and applicable certifications.But aside from the requisite educational achievements, you have to take into account the following:Basic knowledge about the company, the market and its elementsA product manager should know the company/business, the customer, the product, and the competitors. This knowledge may be acquired th rough research and other learning efforts of the individual, or through experience.Good communication skillsThe product manager has been described as someone who communicates, and even called “a bridge”. Therefore, she should have good communication skills â€" both written and oral. She should be able to express herself clearly and fully through speaking and writing. Product managers are expected to make presentations and participate in speaking engagements. Thus, they should have confidence and skills to be able to stand in front of a group of people to deliver these presentations. In addition, they are also expected to write communications, correspondences, product narratives, essays, reviews, and the like.Conversational skills are equally important, since they are needed in internal communication, such as speaking with the members of the product team, and other staff members of the company.Technical know-howIt is simple enough: You want to build something? Then you should kno w how it will be built. You want to make a product? Then you should know how it will be made.Given how business and production is now technology-driven, some companies require product managers to be updated on applied technology. They might not be experts just like the engineers and designers are, but having basic knowledge is still required. This skill may be acquired through learning and experience.Time management skillsAll managers should have good time management skills; this is a given. Being able to differentiate the important stuff from the less important ones, and prioritizing them in order of relevance and urgency is also required from product managers. One cannot be an effective, much less great, product manager if they do not know how to manage time, and end up having fatigue and burnout from their job.You may be under the impression that, as long as they meet the basic requirements, they can become product managers. That may be true at first glance, but we are talking ab out great product managers here, not just your ordinary product manager.TRAITS OF A GREAT PRODUCT MANAGERBehind every great product is a great product manager. If you want to have a great product â€" one that will set you apart from the competition and bring you ahead of the pack, particularly in terms of profitability and growth, you have to make sure you have a great product manager first. After all, the creation of a great product begins with him.Relying solely on paper qualifications or the basics is not going to be enough, considering the fact that being a product manager requires judgment, and lots and lots of insights. What are the characteristics or traits that you should look for in a great product manager?Must have an understanding of the marketA great product manager understands the market. This includes an understanding of the customers, the competition and the other forces that affect the performance of a product in the market.Customers and the Target Market. She should have the ability to empathize with the target market, taking into consideration their differences in values, perceptions, priorities, expectations and experiences. The ability to put themselves in their customers’ shoes is something that not all product managers can do, but anyone who can is definitely on the road to greatness in product management.Product or Offering. She should have a deep understanding of the product: how it works, what its strengths are and, of course, what its weaknesses are.Competitors. Product managers will be surprised at how much they will learn (and improve) just by keeping a close eye on their competitors. Just by observing competitors’ products, you will be able to identify demands and opportunities for new products, or for improvements of your existing products.Must have passion for the productA great product manager understands the product. In fact, she should actually use the product. It is a classic case of practicing what you preach, or “walk ing the talk”. You cannot expect to sell a product to customers when you cannot even be convinced to use it yourself on a regular basis.As product manager, you will be representing the product team and the product across the company. You are going to be the product’s champion; therefore, you have to be naturally passionate about the product. You have to love it. And one way of showing that is by using it.In addition, the product maanger should be knowledgeable about lean analytics for driving forward the product. Must have the ability to inspire the members of the product teamThis is one of the offshoots of having passion for the product. If you are passionate about it, and you love it, you will feel motivated about promoting it and advancing it. In so doing, you will be able to inspire everyone in the product team so that they, too, will develop passion for the product.The role of a product manager within the organization is almost evangelical, in the sense that she will be ext olling the great things about the product to other members of the team, and the organization so that they, too, will have faith in it and passion for it.Must have great leadership skillsDo not forget that a product manager is a manager. And all managers are leaders. Thus, you should look for a product manager with very good leadership skills. Are they able to work with different types of people and lead them accordingly? What is their tolerance level for mistakes, and how do they solve problems? What is their approach in leading the members of their team?Part of being a great leader in a product team is being able to work with the rest of the team. They should also be open to the opinions and ideas of the product team members and empower them, instead of having all the solutions. The product manager should also be familiar with the members of the team, meaning she should have a basic understanding of the fields that each of the team members is working on.Disagreements and difference s in opinions are also bound to happen in a team. The product manager should be able to deal with these issues immediately, without causing more problems and widening gaps or rifts among and between team members.Must have good marketing skillsKnowing one’s way around marketing is a definite advantage for a product manager. She is going to be working with marketing people, such as press people, media practitioners, and market analysts, especially when she has to conduct product launches or stage product-related events. This goes hand in hand with having good communication skills.Must have a strong work ethic and integrityBeing a product manager is not an easy task. There are a lot of heavy responsibilities involved, with them requiring commitment, effort, hard work, and integrity. The ability of an individual to exercise these in the course of the performance of their job as a product manager will no doubt be an asset to the company as a whole.A good product manager should also hav e the ability to work well with senior management or company executives. This is because she will not be able to continue her work in product development without the support from the executives.

What Is a Hypertonic Solution

Hypertonic refers to a solution with higher osmotic pressure than another solution. In other words, a hypertonic solution is one in which there is a greater concentration or number of solute particles outside a membrane than there are inside it. Key Takeaways: Hypertonic Definition A hypertonic solution is one which has a higher solute concentration than another solution.An example of a hypertonic solution is the interior of a red blood cell compared with the solute concentration of fresh water.When two solutions are in contact, solute or solvent moves until the solutions reach equilibrium and become isotonic with respect to each other. Hypertonic Example Red blood cells are the classic example used to explain tonicity. When the concentration of salts (ions) is the same inside the blood cell as outside of it, the solution is isotonic with respect to the cells, and they assume their normal shape and size. If there are fewer solutes outside the cell than inside it, such as would happen if you placed red blood cells in fresh water, the solution (water) is hypotonic with respect to the interior of the red blood cells. The cells swell and may burst as water rushes into the cell to attempt to make the concentration of the interior and exterior solutions the same. Incidentally, since hypotonic solutions can cause cells to burst, this is one reason why a person is more likely to drown in fresh water than in salt water. Its also a problem if you drink too much water. If there is a higher concentration of solutes outside of the cell than inside it, such as would happen if you placed red blood cells in a concentrated salt solution, then the salt solution is hypertonic with respect to the inside of the cells. The red blood cells undergo crenation, which means they shrink and shrivel as water leaves the cells until the concentration of solutes is the same both inside and outside the red blood cells. Uses of Hypertonic Solutions Manipulating the tonicity of a solution has practical applications. For example, reverse osmosis may be used to purify solutions and desalinate seawater. Hypertonic solutions help to preserve food. For example, packing food in salt or pickling it in a hypertonic solution of sugar or salt creates a hypertonic environment that either kills microbes or at least limits their ability to reproduce. Hypertonic solutions also dehydrate food and other substances, as water leaves cells or passes through a membrane to try to establish equilibrium. Why Students Get Confused The terms hypertonic and hypotonic often confuse students because they neglect to account for the frame of reference. For example, if you place a cell in a salt solution, the salt solution is more hypertonic (more concentrated) than the cell plasma. But, if you view the situation from the inside of the cell, you could consider the plasma to be hypotonic with respect to the saltwater. Also, sometimes there are multiple types of solutes to consider. If you have a semipermeable membrane with 2 moles of Na ions and 2 moles of Cl- ions on one side and 2 moles of K ions and 2 moles of Cl- ions on the other side, determining tonicity can be confusing. Each side of the partition is isotonic with respect to the other if you consider there are 4 moles of ions on each side. However, the side with sodium ions is hypertonic with respect to that type of ions (another side is hypotonic for sodium ions). The side with the potassium ions is hypertonic with respect to potassium (and the sodium chloride solution is hypotonic with respect to potassium). How do you think the ions will move across the membrane? Will  there be any movement? What you would expect to happen is that sodium and potassium ions would cross the membrane until equilibrium is reached, with both sides of the partition containing 1 mole of sodium ions, 1 mole of potassium ions, and 2 moles of chlorine ions. Got it? Movement of Water in Hypertonic Solutions Water moves across a semipermeable membrane. Remember, water moves to equalize the concentration of solute particles. If the solutions on either side of the membrane are isotonic, water moves freely back and forth. Water moves from the hypotonic (less concentrated) side of a membrane to the hypertonic (less concentrated) side. The direction of the flow continues until the solutions are isotonic.

The United States And Native Americans Essay - 1300 Words

The history between Native Americans and Americans is harsh. Native Americans have been pushed off of their land by Americans and put into smaller reservations. The united states have enforced a number of treaties trying to better the relationship but it has oppressed Natives. Recently the united states were plaining to build an oil pipeline that would run through native land and the native Americans did not want the pipeline to be built. So this created more tension between the two. History of Treaties between the United States and Native Americans From the year of 1778 until about 100 years later in 1871, the United States government has been trying to lower the tension and heal their relationship with many Native Tribes by making treaties. Throughout the hundreds of years and hundreds of treaties that were negotiated between the two nations of the U.S. and the Native American nation. 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Types Of Media Advertising On Business Essay - 1093 Words

Types of media advertising There are nine types of media advertising. They are: 1. Direct mail advertising Direct mail advertising is one of the most oldest and traditional form of advertising. In this method, the content or the message which has to be delivered to the buyer is sent by post by the seller. It is not necessary that the buyer and the seller should be in different places in order to follow this type of advertisement. This process contains a lot of procedures and steps which the seller has to take care of. He has to prepare a mailing list, circular posts, circular letters, should keep folders and calendars, etc. the seller has to furnish all the information and the message has to be conveyed properly. The post should be effective and attractive and should create interest in the minds of the buyer about the product to buy the product. The seller can also attach catalogues and booklets which gives detailed information of the product, its uses and also the price of the product. The direct mail is very effective since it establishes a direct contact with the customer and helps to maintain privacy between the buyer and the seller. 2. Print advertising Print advertising mainly relates to the newspapers and magazines. It is also called as press advertising. Since newspapers are the oldest, effective and also a powerful platform for advertising, many companies opt for newspaper advertising. Almost every house subscribes for newspapers and advertising in newspapers willShow MoreRelatedMcbride Financial Services Marketing Plan1373 Words   |  6 Pagesstate area of Idaho, Montana, Wyoming, North Dakota, and South Dakota.† (University of Phoenix, 2005, 2011, para. 2). 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Business Strategy Applies to Military or Management

Question: Discuss about the Business Strategy for Applies to Military or Management. Answer: Introduction: There is no common accepted definition of what exactly a strategy is, as applies to military or management, but it applies to nearly every aspect of human life. Strategy is a set guideline for your thought processes, decision-making and actions so that goal can be accomplished. It is a plan to overcome the identified problems through a series of methods and calculated plans that uses all ones intelligence resources and tactics combined to emulate the series of methods to overcome all the challenges to achieve the desired result.(Porter, What is strategy?, 1996). Porters main idea is that the strategy is a unique and valuable position involving in different set of activities. Strategic position emerges from three distinctive sources first serving few needs of many customers, second serving board needs of few customers and last serving board needs of many customers in a narrow market. Strategy is often confused with a set of goal, a tactic to achieve victory or a problem identified. Go als should not be confused with planning strategy; a goal is a vision of the future not a series of process that you can execute your vision through. For example, Googles goal is to organize the worlds information and it has made strategies like developing products like google glasses, Gmail, YouTube, etc. all these are product that came out of the strategy that was aimed at organizing the worlds information. Goals are just wishful visions while strategy is used to reach the goal. The most common confusion is between tactic and strategy. Tactics are just small manoeuvres to win battles but they do not help to win the war. A suitable example to explain this would be: suppose you are planning to lose ten pounds and you start eating healthy foods. But one day a bakery opens near you and the smell tempts you to visit the bakery. So before visiting the baker you eat a healthy portion of salad to avoid having more portions in the bakery, but the portion keeps you full so you decide to not visit the bakery anyhow. So you won the battle of not visiting the bakery that day but you still did not win the war of losing ten pounds. A detailed plan on how you are going to overcome an obstacle can be laid out as a good battle tactic but a detailed plan on how you are going to overcome the obstacle to achieve your goals is a good strategy. (Tzu) A good strategy has clearly defined goal, helps us to understand the competition in the environment, a clear picture of the available resources and also an efficient plan to implement the strategy. Well some of the tools needed I order to draft a successful strategy are: Plan: we need to start with understanding some of the implications of the industry and how to analyse the industry and primarily use porters five forces. Positioning: How well can you position yourself in the particular industry and at which position are you at the particular moment? Competitors: how can you analyse your competitors and are their available tools to understand better potential actions that the competitors will be using? Resources: How can you figure out which resources will be required for your industry? Well these four sections will deal with the business level analysis but of course as many corporations consist of different businesses and there are some aspects we will get through if we understand the diversifications and internationalization.(Porter, 2008) Business Model Innovation Business model innovation is the process of improving new ideas that helps in improving a companys financial stability, goal ad mission, and execution process in carrying those ideas to fulfillment. Business Modeling is regularly seen as procedure to revamp the building squares to an inventive plan of action. What individuals overlook is that a plan of action is the building arrangement of your business as well as ought to offer response to the inquiry "Why ought to your business exist from a client point of view?" So a plan of action is a building arrangement as well as how you offer intending to your clients and your representatives. (Ovans, 2015) The essential objective Business Model is to understand that there are new products or services that improve the income of a company and also add value to the product that the consumer is currently using. The advanced and growing age has turned into an opportunity for plan of action development, likewise innovation of new products and services have significantly changed how organizations work and present their products and services to clients. This breakthrough has shortened lifecycles of products and services and has also allowed for monetary achievement. The worldwide commercial has also changed the requirement for plan of action developments, as organizations must prepare themselves to stiffer universal rivalry and the environmental uncertainty. These elements are driving organizations to stay focused and encourage development in the aggressive worldwide commercial center.(Netessine, 2014) Apple is a wonder example of the Business Model Innovation done in beginning of mid-2000s. From selling MACs it increased its presence to other devices, for example, the iPod, iPhone and iTunes. For instance, the iPod and was a leap that would help the downloadable music industry, while the iPhone was a breakthrough in the cell phone market. Netflix is another case of this sort of business development. Therefore, as we can see, business model plays a critical role in the process of innovation, it can be used as a leverage by companies to improve upon its existing range of products and services. Bibliography Dunung, M. A. (n.d.). Retrieved from https://catalog.flatworldknowledge.com/bookhub/3158?e=fwk-168388-ch10_s04 Netessine, K. G. (2014). Retrieved from https://hbr.org/2014/07/four-paths-to-business-model-innovation Ovans, A. (2015, January 23). Retrieved from https://hbr.org/2015/01/what-is-a-business-model Porter, M. E. (1996). What is strategy? Retrieved from https://hbr.org/1996/11/what-is-strategy# Porter, M. E. (2008, January ). Retrieved from https://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy Tzu, S. (n.d.). Art of War.

The Basic Roles of a Music Publisher free essay sample

The role of the music publisher has evolved over the years, for many music companies, it has become nothing more than a banking operation, and for some, this is at the cost of innovation and passion. But what is the role of a music publisher today? We shall discover†¦ What is the music publisher’s role? In Ann Harrison’s Music: The Business, she explains that a music publisher’s role can be split into three simple steps: 1. To issue licenses to people who want to use music. 2. To actively look for ways to use music (i. e. putting it in an advert/film soundtrack). 3. To collect the income from those licenses and uses. Before elaborating on these three steps, we must first acquaint ourselves with the basic terminology that comes with dealing with a music publisher: The first thing everyone in the circle must understand is the meaning of copyright: * COPYRIGHT is a protection that covers published and unpublished works. We will write a custom essay sample on The Basic Roles of a Music Publisher or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It exists at the point of creation, arising automatically. The copyright work, however, must exist in material form, for example, that of a recording or sheet music. * Helen Gammons, The Art of Music Publishing. Copyright subsists throughout original music, artistic, literary and dramatic works; it also subsists in sound recordings, cable programs, broadcasts, film and typographical arrangements of published editions. A copyright in a musical or literary work lasts for 70 years from the end of the calendar year in which the author/writer dies. If it is a co-written work, then the copyright is in effect until the previous terms are met by the last surviving copyright owner. In a publishing deal/contract, there are six main commercial terms to look out for. They are as follows: * TERRITORY focuses on what countries the deal covers (although most deals are worldwide). * TERM refers to the duration of the deal. If it is an exclusive deal (see below), then all compositions created during the term are within the conditions of the deal. * MINIMUM COMMITMENT underlines the amount of work/songs written, for the writer to meet the deal’s minimum requirements. An example would be (for a non-artist songwriter) – â€Å"five 100% controlled songs (or an ultimate percentage equivalent) released on an approved UK label in each contract period†. This means that a writer could co-write, having 50% ownership of the song, but if this is the case, the writer would have to accumulate the lost 50% on another song. * ADVANCES are the pre-payment of your share of gross income from your songs. This is not a loan, and will not need to be repaid if you leave the deal. The size of the advance will depend on previous earnings/success, the potential earnings, competition, and how much control you have over the album. ROYALTIES are the earnings of the exploitations of your songs from which your advance will be deducted. A typical split in an exclusive deal would be 25% publisher, 75% songwriter. A typical split from a record deal can be around 15%/85% to 20%/80% (record company/songwriter). * RETENTION PERIOD is the length of time after which the writer deal (term) has expired, that the copyrights now spend with the music publisher for them to recoup their advance and make money for the writer. This period can be as short as three years, t o as long as ‘life of copyright’. Step 1 is normally done in conjunction with the collection societies, which is a non-profit organization that represent the interests of publishers, record companies, authors and performers, but the one for music publishers and songwriters (UK) is called the PRS (Performing Right Society). This collection society is specifically for composers, songwriters and music publishers and bears the responsibility of administering the public performance and broadcasting rights of music and lyrics. The PRS is a UK company, and it represents over a million foreign music copyright owners via its affiliation with other collection societies overseas. When you join with the PRS, there is a small joining fee (of which, is constantly changing) and you basically assign your performing rights to the PRS. There is a small criteria to fulfill in order to join the PRS and that is that you have your music either being broadcast on the radio/TV, or it is being performed live. The music publisher will be esponsible for registering your (and now, their) material with the PRS (and collection societies all around the world – this may just require the songwriter to fill in a form and file it with the society, and sometimes it requires a recording and a written copy of the music and lyrics aka. ‘lead sheet’). Step 2 involves the publisher finding uses for the songwriter’s music. The most typical way (if the writer is not an artist) is to find an artist to perform, record and release the song, this works significantly well if a high rolling artist expresses an interest – it could be life-changing. Another brilliant method of getting your music heard is through music synchronisaton or ‘syncing’ – this is when a piece of music is laid over a piece of video to enhance the viewing experience. When songs are ‘synced’, it is a win-win – the video production company benefit from having a professional composition on their video, and the writer and publisher benefit from their music being heard. For example: if you write a contemporary ballad, it might be their prerogative to look into music synchronization in a television drama (e. g. he close of a Grey’s Anatomy episode), or an easy listening acoustic folk song for an advert aimed at the younger audience. Syncing can span across all different kinds of media such as film, radio and video-gaming too. Step 3 of the publisher’s role is to claim his and the writer’s earnings from aforementioned endeavors from the collection societies (briefly touched upon in step 1). If the musi c publisher is on a grander scale, then it is likely that he/she will have companies in many major countries internationally, along with only a few independent music publishers (such as PeerMusic) with a similar system. Smaller music publishers will not have adequate resources to fund such an elaborate scheme, so they appoint local publishers to represent their interests there (sub-publishing; see below). There are four basic types of publishing deals, these are listed below: * ADMINISTRATION DEAL – If you are a songwriter with a vast collection of songs that could potentially earn a viable amount of money, but you don’t have the time or the wherewithal to self-publish by registering with collection societies and managing the role of royalty tracking yourself. Under this agreement, the publisher possesses the right/license to administer said composition/s, but this is not the same as copyright. They can permit/license the use of said songs within different realms of media such as recordings, tapes/CD’s, television (series/adverts), film/DVD etc. , and collect royalties from all music users. This is usually for a specified period of time (term), more often than not around the span of three to five years, and in return for this service, the publisher will negotiate an ‘administration fee’ ranging (usually) between 10% 15% of the gross income earned during the negotiated ‘term’. Certain advantages of this deal are more control over songs, no pressure to deliver a specific amount of material, you keep your copyrights (unless there is good reason for you not to), you can request to be consulted on any controversial use of your material, whether it be associated with violence or simply inappropriate. Disadvantages of this deal would be no advances. * SUB-PUBLISHING DEAL – The sub-publishing deal is for the artist that does not wish to assign all copyright, but does wish the publisher to find new ways of making an income off of their material (songs). This deal consists of transferring ownership of copyright, but there is no general statistic, deals/decisions are made on a case-by-case basis. An advance isn’t out of the question, but it would be contingent on how much of the rights are being handed over to the publisher; that being said, any advance would be small as the reduced assignment of rights means the publisher will not be earning as much compared to an exclusive deal, for example. A sub-publishing deal is an appealing choice for smaller publishers who wish to operate abroad, and they can do this without having to set up a company overseas; instead, they use an overseas company to execute the right to use some or all of the rights in the specified country. * SINGLE SONG ASSIGNMENT – This deal is restricted to a single song, with which the publisher will be assigned the rights of the song and find as many uses for the song as possible. Because it’s a small deal, it is easier to estimate and exploit it’s earning potential, and depending on that, a small advance will be distributed and all the usual accounting and licensing will be carried out. The term of rights can be negotiated; you can either assign the rights for life, or you can arrange a ‘rights period’. Your control over the song’s exploitation may be small – to prevent the publisher being hindered in making money from the song – but you will have an acceptable level of control in terms of lyric changes and commercial usage. EXCLUSIVE PUBLISHING AGREEMENT – This is probably the most important deal, as for every songwriter, this stage in their career is a definitive one. As Ann Harrison explains in Music: The Business, getting an established publisher behind them in this circumstance means that they have arrived, that someone else has faith in their work and is prepared to put money and commitment behind t hat conviction. Under this agreement, the songwriter agrees to assign the rights of all compositions (songs) written during a certain time-frame (aka. Term agreed upon with the publisher). An example of a usual term is two years from a specified date or one year (with four conditional options). You are guaranteed a percentage share of the income earned on songs during, and usually a proviso for weekly or monthly payments (contingent on the scale of which your agreement is drafted). The weekly/monthly payments made to the writer are treated as ‘advances’ , which will ultimately, be recouped from the songwriter’s future royalties. These royalties will be made from record sales, downloads, sheet music, music synchronization, television, film, video-gaming etc. he advantages of this sort of deal is that of stability – the writer is guaranteed a more reliable and steady income as opposed to some previous deals, as the advances help financially while the royalties (which take six months to one year to reach the writer after they have been transacted) are processing. In addition to these deals, newly-founded ‘music companies’ have scour ed the planes looking for other innovative ways to grasp the sources of revenue made by their recording artists. Such deals like the ‘360-degree’ deal or the ‘multiple rights’ agreements, are such methods labels have taken to using, to recover from the losses in the record industry. * THE 360 ° CONCEPT – In The Music Management Bible, Nicola Riches explains that the record company’s rights would traditionally be restricted to the artist’s recordings and (in order to facilitate the exploitation of those recordings) the ancillary rights described above. In recent years, record companies have shown a predatory interest in other areas of their artists’ activities. This trend has been driven by the concern with breaking in new artists; when traditionally, upon signing a new artist, the record company will bear the financial brunt of the investment that is required. Obviously, this works well for the record company if there is an acceptable level of return from record sales, but in this day and age, record says are declining in favour of digital downloads and the invasion of music piracy. This means that the record companies need to recuperate this loss via other means, as the investment is no longer justified when considering the anticipated return. This means that if the record companies are to make a similar investment in artists, they must find some way to increase the return in compensation of this shortcoming. Due to this shift, many artists doubt that they can ever expect to recoup/make enough/much money from record sales, but they need the drive and exposure of the machine that is an established record company to effectively promote their record, concert tickets and/or merchandise. In response to this, record companies have presented the idea that if they are to invest in a record, then it wants a ‘cut’ out of the income of the artist’s related activites. â€Å"In it’s ‘pure’ form the 360 ° concept involves the record company gaining an entitlement to all of the artist’s services in the music business; this would extend to live performance, songwriting, merchandising, sponsorship and so on. † – Nicola Riches, The Music Management Bible Just as with recording deals, music publishing is too suffering changes in the way it is viewed/perceived by smaller operators. Many managers and smaller record labels have expressed an interest in handling publishing rights due to the current changes in the way artists are utilizing music, and the way people are experiencing music. Since the emergence of the ‘digital era’, many shifts in the music industry seemed necessary, one specific change would be the economic repositioning of record labels and music publishers; when before, record labels would develop and promote artists through financing the creations and distributing artists’ recordings, while the music publishers’ roles were to exploit the rights in and to musical compositions. When something as revolutionary as the digital market changes the way the consumer experiences music, it also changes the way the industry’s cogs tick. This is where the seas part between the label and the publisher, because unlike labels, music publishers are not so tightly beholden to the sale of prerecorded music and they are more prepared to adapt to the changing ways in which consumers can obtain and listen to music. Many of the sources from which publishers can collect revenue are: * Public performance Synchronisation of songs (in connection with audiovisual works) * So-called ‘print rights’ (sheet music copyright) * Mechanical reproduction of songs on CD’s/digital downloads When a typical income stream for music publishers is mechanical royalties, and when those mechanical royalties are declining due to the piracy movement, publishers find themselves too, looking for other innovative ways to make this loss back somehow, alongside becoming more effici ent at collecting these royalties and running their companies. Music publishers have begun to take on some of the roles originally only executed by record companies, such as providing studio time for their budding artists to record demos, and some even go as far as to provide financial support to artists when out on tour, or even for basic promotion or press coverage. The reason for this is to give the artist a boost northwards and to help in ways that might be shortcoming of a record label these days. A new method of copyright was issued in recent years when EMI (Electric and Musical Industries) were one of the first publishers to implement song lyrics onto merchandise such as T-shirts, key-rings, mugs, etc. the importance of licensing songs in video has increased too, with many publishers improving/strengthening their synchronization departments. With the existence of independent publishing companies like Kobalt, which have revolutionized the way publishers operate, publishers are striving to become more efficient, and to handle things such as royalties more effectively and systemically.

Target Performance Evaluations †Business Research Paper (200 Level Course)

Target Performance Evaluations – Business Research Paper (200 Level Course) Free Online Research Papers Target Performance Evaluations Business Research Paper (200 Level Course) Performance evaluations are one of the most important tools employers can use to reward, train and critique their employees. At Target, this is no exception. Target evaluates its executive staff twice a year, once for money and bonuses, and another for sheer training and direction. I passed out the assigned survey to three of my peers; Marta Mcgough, Todd Rigler and Matt Clarey. In the paragraphs below I will discuss their responses along with my personal feeling toward the questions. First you must understand Target’s evaluation system. Target executives are graded on their personal leadership skills as well as store performance numbers including sales and budget goals as well as turnover and profitability. I like to think of it like this. A high store profitability number will get you more bonus and raise while a high leadership score will get you promoted. Obviously, a high score on both is optimal. For the first question: I received a timely performance appraisal. All takers, including myself, of the survey strongly agreed that Target is in fact timely in its appraisal system. As stated above, all executives should receive a performance evaluation twice a year, a mid year review, for no money, on May 31st, and a review for monetary bonuses and raises on Nov 31st. These timeframes are strictly adhered to by corporate and of the four people taking the survey, no one had ever received a review late. For â€Å"I received a fair performance appraisal†, myself and 2 other stated that we agreed, while one said disagree. The main reason stated by all for the lack of 100% support was that we as a team are graded for the sales performance of the building. No matter how well we do our job, inevitably the amount of product that people purchase in the building over the course of the year will greatly affect our raise. This brings a certain amount of unfairness to the process. A low performing executive in a high performing building has the potential to get just as good of review as an executive that is considered high potential. The only possible rectification for this problem would be to cease have store performance numbers on reviews and just have personal goals and qualifications. On the question of â€Å"My performance appraisal results were what I anticipated†. Again, all of us of were of one accord in strongly agreeing. Target does a fantastic job of not only constant feedback from supervisors, but also an incorporated tool called the Diagnostic tool kit. The DTK is an evaluation tool on line that summarized weekly the store performance numbers and breaks down individual executives review scores. By viewing this form that updates on Wednesdays, you can see how your review would be if you got it immediately, and how your week, month and quarter numbers look. 1.I received a timely performance appraisal. Strongly Agree/Agree/Disagree/Strongly Disagree 2.I received a fair performance appraisal. Strongly Agree/Agree/Disagree/Strongly Disagree 3.My performance appraisal results were what I anticipated. Strongly Agree/Agree/Disagree/Strongly Disagree 4.My performance appraisal was measured against my job description/duties/expectations. Strongly Agree/Agree/Disagree/Strongly Disagree 5.I was provided recommendations for improvement during my performance appraisal. Strongly Agree/Agree/Disagree/Strongly Disagree Research Papers on Target Performance Evaluations - Business Research Paper (200 Level Course)Incorporating Risk and Uncertainty Factor in CapitalStandardized TestingOpen Architechture a white paperThe Project Managment Office SystemMarketing of Lifeboy Soap A Unilever ProductResearch Process Part OneAnalysis of Ebay Expanding into AsiaRiordan Manufacturing Production PlanMoral and Ethical Issues in Hiring New EmployeesThe Relationship Between Delinquency and Drug Use