The impact of the Internet on business is dramatic.  It has revolutionized our lifestyle and most everything related to it. It has created the term "global community" where everything and everybody is only a click away. A 2007 study by Nielsen/NetRatings shows that there are almost 334 million (333,841,523) active internet home users from only 10 countries!  Most users are utilizing the Internet to make purchases and/or conduct businesses.

A good mix between strategy and culture is vital to a company’s success when implementing new strategies for a company.  If they conflict, research shows that failure rates are high. Strategies that conflict with strong cultures are likely to experience resistance.  A company’s culture is its identity.  It states who they are and what they do. 

ABSTRACT:
This paper describes the 5 Stage Life Cycle Model in a corporation’s transition between Birth, Growth, Maturity, Decline, and Death.  Various challenges are present at each stage of the life cycle and can greatly affect a company’s strategic planning, growth or stability, and ultimate success.  As a company develops through the cycle, aspects within the company environment change and create challenges that must be addressed in long term planning in order to sustain growth and leadership within an industry.  A company must adjust and adapt to the changing environment through comprehensive strategic planning at every stage in the life cycle.

Behavior controls identify processes for performance.  This is achieved through policies, rules, procedures and management direction.  An employee is generally subject to the business’s instructions about when, where, and how to work, directed through behavior controls.  These controls can be as simple as getting to work on time or as complicated as developing detailed quality control measures for performing a job responsibility.

Companies are realizing that the development of an entrepreneurial culture is critical to the continued growth and success of a business.  “Research reveals that corporate entrepreneurship has a positive impact on a company’s financial performance.”  (Hunger and Wheelen.  2008.  pg 307.)  Seeking to become a more innovative corporation, management has embraced this concept realizing that, “small companies are roughly 13 times more innovative per employee than large firms.”  (Hunger and Wheelen.  2008.  pg. 317).  The key to developing a successful entrepreneurial culture must start with management and its willingness to incorporate entrepreneurial culture in the strategies of the company.

In concept, the social responsibilities of a private corporation, beyond making a profit, are intended to serve the people’s needs similar to the efforts of a state-owned enterprise.  With this concept similarity, many countries are attempting to transition state-owned enterprises into private corporations.  “Many nations throughout the world are attempting to privatize state-owned enterprises to balance their budgets.”  (Hunger and Wheelen.  2008.  pg. 341)

Over 99% of all businesses in the United States are classified as small business.  “They generate 60% to 80% of net new jobs annually and produce almost 30% of known export value.”  (Hunger & Wheelen.  2008.  pg. 317)  So what factors contribute to an entrepreneurial venture’s success?  Occasionally success can be based on pure “dumb luck,” however, this is far from the norm.

Managing business data is critical to a company’s success in today’s world.  With multiple divisions in multiple departments, each managing and utilizing various information, businesses must established data standards.  “Because the same and similar data are used in various application software, data must be clearly identified and defined so that all users know exactly what data they are manipulating.”  (Martin, Brown, Dehayes, Hoffer, Perkins.  2005.  pg. 143)    

Decision support systems (DSS) and expert systems are both part of a broader management support system.  These systems help managers and decision makers in selecting strategic and tactical decisions for a company or organization.  Although DSSs and expert systems are both part of management support systems, they have distinct differences that make them individually unique.

In today’s business world, many organizations rely on systems to help employees perform daily operations in its respectful market.  There are numerous systems to purchase (sometimes referred to as off-the-shelf) readily available to service the company’s needs.  Custom systems can also be an option in doing business if a company has the personnel expertise and/or financial resources available.  “The choice between building a custom application and purchasing a software package – a make-or-buy decision – should be made jointly by the business managers who need the software and the IS professionals who have the knowledge to access the technical benefits and risks.”  (Martin, Brown, Dehayes, Hoffer, Perkins.  2005.  pg. 406)   

SDLC Model is the framework that describes the activities performed at each stage of a software development project.  “The SDLC approach also provides a baseline for understanding what is involved in developing an application system. . . “   (Martin, Brown, Dehayes, Hoffer, Perkins.  2005.  pg. 387)   The  3 phases of the SDLC methodology are the definition phase, the construction phase and the implementation phase.  Each of these phases encompasses specific steps as part of the overall model.

Project management has become a very valuable and much needed professional resource for businesses across all industries.  “As the number of projects swell, the pool of credentialed talent is not keeping pace.  Add to that the fact that, of the 20 million people participating in projects worldwide, just one million have professionally recognized formal training on how to best execute those projects.”  (PMI.  nd.  para 1)    

As technology grows, so does the dependency of it placed upon organizations.  A majority of businesses today use several technological advancements to operate on a daily basis for the end user.  “Most organizations today have developed an explicit strategy and support staff for managing end user computing.”  (Martin, Brown, Dehayes, Hoffer, Perkins.  2005.  pg. 452)  If standardized systems become unavailable to employees, efficiencies suffer and production can be severely impacted.  In many cases, if a system is unavailable, a knowledge worker may be unable to perform his or her job.  Furthermore, customer service and the integrity of the company can suffer.  Therefore, it is critical that systems be available as well as appropriate resources and assistance for the end user. 

In today’s business environment, executive management places high demands on IT departments.  They have intense expectations on what IT can do to increase the company’s competitive advantage.  In return, management agrees to make substantial investments in IT growth and maintenance.  “IT invariably and inseparably works with business strategies, processes and incentive systems.  As such, IT is widespread and embedded in many parts of the firm, making it difficult to pinpoint and measure its contribution.”   (Mittal, Nault.  2006.  pg 3) 

A strategic IS plan plays a vital role in the business strategy of many companies.  Traditionally, strategic IS plans have been driven by a company’s business strategy.  “The strategic IS plan is a statement of the major objectives and initiatives (not yet defined precisely enough to be projects) that the IS organization and business managers must accomplish over some time period to move the company information resources toward the information vision and to fit the business strategic plan.”  (Martin et al.  2005.  pg. 569-70)         

Successful marketing is a valuable skill, and is much more than simply getting a consumer to buy your product or use your service.  “Just as production and logistics professionals are responsible for supply management, marketers are responsible for demand management.  Marketing managers seek to influence the level, timing, and compensation of demand to meet the organization’s objectives.”  (Kotler and Keller.  2009.  pg. 8)      

In today’s competitive business environment, consumers have heightened demands and expectations.  “It is extremely difficult to meet these challenges in a timely manner if business processes are widely dispersed and inconsistent.  Consistent core business processes and data representation is essential to allow decision makers to respond quickly to the changing market.” (TechRepublic. 2002. par. 2) 

With the enormous number of companies competing in today’s business world, the ability to anticipate and adapt to change, as well as develop competitive advantages are critical to success.  “Companies with superior information enjoy a competitive advantage.  They can choose their markets better, develop better offerings, and execute better marketing plans.”  (Kotler and Keller.  2009.  pg. 67)  Marketing Information System’s (MIS) are a crucial tool used by businesses to establish these competitive advantages.

Successful marketing managers agree that information is vital to success.  Marketing research focuses on collecting strategic information in order to provide a company with competitive intelligence and competitive advantages.  Properly performing market research is a skill and should be implemented within every initiative.  According to Kotler and Keller, in the text book Marketing Management (2009), there are seven characteristics of good marketing research.

With the advancements in Technology, companies are being forced to reconsider and adjust traditional ways of doing business.  Marketing Information Systems have created efficiencies in marketing, streamlining the process for a concentrated and powerful customer focus.

There used to be a saying in business that cash is king.  However, a more modern version would be accurately stated that customers are king.  As a result, many companies are recognizing the importance of customer retention and implementing systems and policies to minimize customer defection.

Proctor & Gamble has been recognized globally as a marketing powerhouse.  They have successfully developed and nurtured numerous branding initiatives that have lead to sustained market leadership.  “Proctor & Gamble (P&G) is one of the most skillful marketers of consumer packaged goods.  (P&G) is a global leader in the majority of 22 different product categories in which they compete; and has total world wide sales of more than $76 billion a year.”  (Kotler and Keller.  2009.  pg. 239)   

My palms were clammy and my throat was dry.  “Just Do It” I kept telling myself.  Come on, “It’s so easy a caveman can do it” I tried to convince myself.  As I stood at the jewelry counter, it hit me, “Diamonds are forever.”   I looked at the stone like I knew what I was doing and questioned the clarity.  Don’t worry, “You’re in good hands” the sales clerk reassured me.  To my surprise, my girlfriend was in the mall and saw me at the counter.  She ran over, looked at the ring and asked, “It’s the real thing.”  I was too stunned to utter a word as she grabbed the ring and said, “I’m loving it.”  Seems like an opening monologue for an annual commercial program on cable television.  OK, maybe not.  But it does demonstrate the concept of brand equity as your mind reacts to the slogans associated to these popular company brands.  (Nike, Geico, DeBeers, AllState, Coca-Cola, and McDonalds respectfully).

Take a simple trip to the grocery store and you will be presented with an amazing number of products available to purchase.  As consumers, we take for granted that when we visit our local store, that we have the option to select from more than 30 different types of cereal, 20 plus different types of soda, dozens and dozens of snacks and chips, and 10 different styles of facial tissue.  The list can go on and on.  But as a consumer, have you ever thought about the sheer task of getting these items to the store, considering that in many cases, each item is individual to its parent company.  Have you ever thought about how these items get to your community so quickly?

Companies are always looking for ways to gain competitive advantages over the competition.  One method used for creating competitive advantages is the evaluation of distribution channels.  Marketers often evaluate channels and distribution systems for new ways to reach the consumer.  “One of the most significant recent channel developments is the rise of vertical marketing systems.  A conventional marketing channel comprises an independent producer, wholesaler(s), and retailer(s).  Each is a separate business seeking to maximize its own profits.”  (Kotler and Keller.  2009.  pg. 426)  Vertical marketing systems are planned for distribution efficiencies, cost effectiveness and economies of scale through size and the avoidance of duplicated services. 

In today’s competitive markets, there are several companies that sell the same or similar products and services.  It’s important to understand that companies do not sell products or services, but instead they sell benefits.  “When differentiating yourself from the competition, however, you need to do so in an intelligent manner that emphasizes points of key relevance to the customers.  And that’s where a customer value hierarchy comes into play.  Put simple, the hierarchy enables you to determine which of the benefits are the really important ones.”  (Chernikov.  2009.  para. 3)

An important and logical goal of business is to develop strong sales leading to increased profit margins.  As such, properly pricing a product or service is a very important part of management responsibilities.  “Price is not just a number on a tag.  Price comes in many forms and performs many functions.”  (Kotler and Keller.  2009.  pg. 376)

Over the last decade, the advertising-to-sales promotion rate has risen significantly at approximately 15%.  The ratio has increased from 60-40% to 75-25%.  So why was there a change in the market?  “Several factors contributed to this rapid growth, particularly in consumer markets.”   (Kotler and Keller.  2009.  pg 515.) 

Ben Affleck played the character of Jim Young, a money hungry sales broker/executive in the 2000 blockbuster Boiler Room.  His inspirational speech, although some argue as stereotypical, rings true with many sales leaders today.  “You have to be closing all of the time.  Be aggressive.  Learn how to push.  If you can’t learn how to close you better start thinking about another career.  There is no such thing as a no sales call.”  Many will argue that this aggressive, and stressful, sales approach is a direct result of the demanding and, often times, unachievable sales quotas.  “A sales quota is the gross amount of business that either a salesperson says he can do or the company says must be done. It’s usually a target if the salesperson sets it and a quota if the company sets it.”  (Jeffrey.  Nd. para. 3)

In basic form, a hypothesis can be said to be merely an educated guess.  Dictionary.com defines it simply as a mere assumption or guess.  It is a temporary conjecture or explanation of a recognizable occurrence that can be tested through research.  It offers predictions through reasoning.  “Hypotheses are constantly generated in the human mind as we work to understand day-to-day phenomena.  By formulating a series of reasonable guesses of cause and effect we are able to understand and explore the events in our surrounding environment.”  (Generating.  nd.  para. 3)  For example, you can assume a person using a cell phone while driving is more likely to experience an accident.    

Scientific inquiry follows a cyclical progression of 8 steps starting with a question and typically ending with asking a new question.  The goal of this model is to find the truth during scientific research, providing a better understanding of behaviors.