MGMT305 (Mon 1-5pm)
Chapter 1, pg. 37
1. How do smart grids differ from the current electricity infrastructure in the United States? The regular electricity infrastructure in the US provides power to consumers, but does not information on how the consumers are using the energy when the smart grids are. It uses digital technology to save energy, reduce costs, and increase reliability and transparency. Without the smart grids, the electricity infrastructure is outdated and inefficient. 2. What management, organization, and technology issues should be considered when developing a smart grid? When it comes to smart grids, being aware of the amount of energy you use in a household is important to remember. It would definitely help manage the amount of power used every month and allow consumers to make more intelligent decisions regarding it. The organization that should be considered is allowing the consumers to access information about their usage of energy consumption and production every month. This is where the technology comes into play. You shouldn’t want an outdated and inefficient infrastructure. Going digital, just like the smart grids are, would be good to do. Having fast technology that is reliable and quick enough for the consumers to use will build satisfaction in the business and help out a lot. 3. What challenge to the development of smart grids do you think is most likely to hamper their development? Installing smart grids are very expensive. We have economic problems we have in our country now, which will make consumers more skeptical about installing smart grids for their household. Not only that, but the smart grids are very high in technology and can be challenging for consumers to understand it and respond to the price signals. If they spend $250-$500 on these grids, and don’t know how to operate them, then it will practically be a waste of money and would want to return to the old fashioned grid system. 4. What other areas of our infrastructure could benefit from “smart” technologies? Describe one example not listed in the case. One good thing we can learn from installing smart grids into households is knowing that consumers will be willing to spend the amount of money for these smart technologies will make them become successful and business, which helps companies manage the smart grids. Just how a “smart” phone is like a computer inside a cellphone is the same way a smart grid will be with the electricity grid. There will be more two-way communication digitally and it allows consumers to adjust the electricity from a small device. Another big benefit is knowing the system is modernized and you don’t have to wait for utility workers to come out and fix your electricity. 5. Would you like your home and your community to be part of a smart grid? Why or why not? Explain. Yes. I wouldn’t mind me, or my community being part of a smart grid. It would definitely be good to know how much energy I use every month and help me make better decisions. The only challenge would be paying the expensive costs to get the smart grids installed, but a big investment like that would be worth it. If my smartphone can make things on my cellphone a lot easier, I don’t see why it wouldn’t do the same for my electric system in my house. Chapter 2, pg 77
1. What is Procter & Gamble’s business strategy? What is the relationship of collaboration and innovation to that business strategy? P&G’s business strategy has three main business strategies. It works to maintain the popularity of its existing brands via marketing and advertising, extends its brands to related products by developing new products under those brands, and it innovates and creates new brands entirely from scratch. The main relationship of collaboration and innovation to their business strategy is the amount of time and effort they give towards it. P&G spends billions of dollars on innovation but...
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