...Chairman, Yang-Ho Cho undertook various transformation initiatives - for instance, improving service quality and safety standards, technology integration, upgrading pilot training, better business focus; putting in place a professional management team, improving corporate image through sponsorship marketing, etc. He gave a new corporate direction in the form of '10,10,10' goal. However, Korean Air is held up by a slew of challenges. Among which are inefficiencies of - Chaebol system of management, possible clash of its cargo business with its own shipping company, limited focus on the domestic market and growing competition from LCCs. How would Korean Air manage growth as a family-owned conglomerate? The case offers enriching scope for analysing a family business’s turnaround strategies, with all the legacy costs involved. Pedagogical Objectives • To discuss the (operational) dynamics of Korean Chaebols - their influence/ effects on the country’s industrial sector and the economy as a whole • To analyse how family-owned businesses manage the transition phase - from a supplier-driven economy to a demanddriven economy • To identify all the possible reasons for Korean Air ’s turbulent times and assessing whether they are controllable or not • To critically evaluate Korean Air ’s transformation efforts - in terms of growth, productivity and cost cuts, especially the efficacy of '10,10,10' goal in a family-run business • To identify various challenges to Korean Air in...
Words: 71150 - Pages: 285
...The Porter’s generic strategies are defined by basic approaches to strategic planning that can be adopted by any firm in any market or business to improve its competitive performance edge. The three fundamental marketing strategies that are thought of as different, are not mutually exclusive are differentiation strategy, focus strategy, and low cost strategy (www.businessdictionary.com). The first approach is called cost leadership which is better known as no frills just best deals concept. This concept is often a consumer’s delight. Because as consumers’ we like receiving great services at lost cost. The second is differentiation which creates a uniquely desirable products and services. Third is focus which is offering a specialized service in a niche market. A good niche has five qualities to them and they are as follows. It will take you where you want to go. In other words, it conforms to your long-term vision. Usually someone else wants it namely, customers. It carefully planned. It’s one of a kind “the best one in town”, and it evolves, allowing you to develop different profit centers and still be able to retain the core business which commonly ensure long-lasting success (www.entrepreneur.com) and according to the daily news U.S airlines has always had a clear cut strategy that if you can’t be number one or set a serious presence, then why be there? (www.dailynews.com) Lastly according to the Porter’s strategies to become effective, the business goals, objectives, culture...
Words: 293 - Pages: 2
...TYPES OF MARKETING STRATEGIES MARKET LEADER STRATEGIES 1. Expand total market 2. Defend market share 3. Expand market share MARKET CHALLENGER STRATEGIES 1. Define strategic objective and opponents 2. Choosing an attack strategy MARKET FOLLOWER STRATEGIES MARKET NICHE STRATEGIES ================ A. 1. MARKET LEADER STRATEGIES EXPAND TOTAL MARKET • New Users E.g.: perfume:--> non-users (mkt-penetration strat) --> men (new market strat) --> other countries (geo-expan strat) E.g.: J&J Baby shampoo: birthrate declining --> ads target adults --> leading brand • New uses Cereals: as snacks --> increase frequency of use OJ: “not for breakfast anymore” Du Pont nylon: parachute-->pantyhose-->blouses & shirts --> auto tires -->seat belts --> carpeting Arm & Hammer: baking--> fridge deodorant --> quell kitchen grease --> carpet/pet deodorant --> bath tub relaxant --> toothpaste --> ???? • More usage: Michelin: want French to drive more --> rate restaurants (best in south --Provence & Riviera) --> publish guidebooks with maps and sights along the way 2. DEFEND MARKET SHARE • decide where to defend • continuous innovation along Mktg Mix Position defense: - purely defensive not enough --> must take offensive counter-measure Eg: Coke --> multi segments of cola mkt --> enter wine market --> acquire fruit drink companies --> desalination equipment --> plastics Flanking defense: - guarding territory not enough - create outposts/flanks: --> protect weak front --> invasion base for counter-attack...
Words: 1301 - Pages: 6
...STRATEGIC MANAGEMENT (MGT431) GUIDELINES FOR THE WRITTEN STANDARDIZED CASE ANALYSIS Overview and Background The introduction of your paper should acquaint the reader with the company being analyzed and demonstrate your ability to succinctly describe the company from a historical perspective. Take this opportunity to highlight key factors and past strategies, which have led the company to its present position. It is important for you to understand precisely, why the company has been successful (or unsuccessful) in the past. Taking time to articulate this may suggest distinctive competencies that you might otherwise overlook when writing the following sections. Conclude the “Overview and Background” of your paper by clearly identifying the key issues, and/or problems facing management at the close of the case. After reading and analyzing a case, the reader is generally left with a feel for some major issues with which will determine the future success of the firm. State these issues as succinctly as possible as they will likely be developed in much greater detail later in the case analysis. Company Mission This section of your paper should clearly state the company mission as you see it at the end of the case. Remember, a company mission delineates the primary purpose of the firm (its reason for existence) and must, at a minimum, describe: * The products or services of the firm * The primary markets to be served * The means by which the...
Words: 1318 - Pages: 6
...Rusty Rims IT Strategic Plan, Part 2 Before you begin this assignment, be sure you have read the “Rusty Rims Case Study” and the feedback you received on your IT Strategic Plan Part 1 assignment. Also, be sure you have read the chapters in the textbook that have been assigned to this point. Purpose of this Assignment This assignment gives you the opportunity to apply the course concepts to complete the development of an Information Technology Strategic Plan (ITSP) to support the strategic direction of Rusty Rims Distribution Company (RR). This assignment specifically addresses the following course outcomes to enable you to: identify, define, and explain the concepts of information technology governance and management apply best practices in information technology management and governance to make, defend, and justify an IT decision IT Strategic Plan for Rusty Rims Distribution Company For the previous assignment, you developed Part 1 of an IT Strategic Plan for RR. For this assignment, you will incorporate any needed changes resulting from the feedback you received on your Part 1 assignment and you will add Part 2. Part 2 will include an IT project that you are proposing that RR undertake. This new project will be included in the IT Portfolio section of Part 2, and will be further described in a future assignment, the “IT Decision Paper.” The entire ITSP will be submitted as a single document for this assignment. Assignment First, you should make...
Words: 2928 - Pages: 12
...312 (Graham FELLOWS) * Thursday 18.00 – 19.00, M 312 (Graham FELLOWS) * * Unit Rationale and Aim * * How to outperform their competitors is every company's main challenge. Managers deploy strategies to achieve sustainable competitive advantage. This unit introduces you to the strategic choices organisations can make by providing you with key concepts relating to the strategic analysis of companies and their environments. Students from different majors can draw on their education thus far and use it in understanding how every aspect of an organisation such as HR, Finance, Marketing, etc. plays a role in strategy. This understanding is particularly relevant to you when making the transition to the workforce. This unit introduces you to cutting-edge concepts, frameworks, and techniques of strategic analysis that allow you to make better strategic decisions. The aim of this unit is to provide you with the analytical tools needed to become critical strategic thinkers and effective problem solvers. You will learn how to develop and implement superior strategies. * * Approaches to Teaching and Learning * * Learning strategies in this unit advance critical analysis and planning skills. Intellectual inquiry is encouraged through analysis of case studies and tutorial exercises. The general approach...
Words: 872 - Pages: 4
...Make vs. Buy Revisited Reassessing your company’s manufacturing strategy M ake or buy? The classic manufacturing question still has no easy answer. Amid signs of demand recovery, but with capital still limited and resources thinned by restructuring, top executives today are revisiting the issue. To come to the right make-or-buy decision, leading companies resist the temptation to “feed the beast.” Instead of focusing only on short-term gains, these leaders keep their long-term strategy and corresponding core competencies in mind. They adopt a clearly defined manufacturing strategy, and then adopt the right tactics that can lead to smart decisions and a competitive advantage. The trade-offs between making a product inhouse and buying it externally are well known to most senior executives. The “buy” approach— a manufacturer purchasing a necessary part from an outside source—frees up resources, reduces capital demands, increases flexibility and improves returns on capital employed, but in a tough market companies may seek to avoid potential quality concerns and supply risks. On the other hand, a “make” approach—developing and building that same necessary part internally—enables the company to utilize available internal capacity, absorb fixed costs and protect intellectual property, but it can lead to unnecessary complexity and divert time and attention away from highervalue activities. Choosing “make” simply because the capacity already exists, or “buy”...
Words: 3530 - Pages: 15
...Management Control System TASK 6 REPORT CASE 8.2 “Hasbro Interactive” By : Group 1 Nadya Azahra Rangkuti (023100004) Hanna Dwina Putri (023100066) Fahrina Trinandasari (023100117) Felisitas Yola (023100184) Gabriella Rahajeng Putri (023100208) Trisakti University 2013 CHAPTER I INTRODUCTION A. Background of company In 1923, three brothers, Henry, Hilal, and Herman Hassenfeld, founded Hassenfeld Brothers, a company selling textile remnants, in Providence, Rhode Island. Over the next two decades, the company expanded to produce pencil cases and school supplies. In 1926, Hassenfeld Brothers was incorporated with Hilal leaving for another textile business while Henry took charge of the corporation. With cost of pencils rising and their pencil supplier making pencil cases, Hassenfelds began making their own pencils becoming a source of funding for future lines. In the 1940s, Hassenfeld Brothers produced doctor and nurse kits, its first toys and modeling clay becoming a primarily toy company by 1942. In 1960, Henry died and Merrill took over the parent company and his older brother, Harold, ran the pencil-making business, Empire Pencil. Hassenfeld Brothers expanded to Canada with Hassenfeld Brothers (Canada) Ltd. in 1961. Having previously sold toys under the Hasbro trade name, the company shortened its name to Hasbro Industries in 1968 and sold a minor stake in the corporation to the public. Between 1978 and 1981, Stephen reduced...
Words: 2441 - Pages: 10
...OUTLINE a. Module learning outcomes b. Themes and topics c. Learning supports 3. MODULE DELIVERY SCHEDULE a. Session arrangements b. Student engagement c. Office hours arrangements 4. ASSESSMENT DETAILS a. Assignments b. Module assessment components i. Pre module assignment ii. Group project iii. Examination 5. GRADING a. University grading policy b. Grade descriptors for assessment components 6. CONCLUDING COMMENTS APPENDICES 5 6 10 12 16 19 21 3 Welcome message Welcome to this unit on Business Policy. Dr Yousef Eiadat will be joining me in teaching this course. In this unit we aim to build skills in Strategic planning – the analysis behind strategic decisions, the crafting of strategies and the implementation of them to ensure organisational success. Strategy involves managing the interface between an organization and its external environment. To this end, the first three topics develop skills in strategic analysis, leading to consideration of the positioning of an organisation in its strategic environment. These cover internal and external analysis, and the options in setting strategic...
Words: 4379 - Pages: 18
...------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- UNIVERSITY COLLEGE DUBLIN ------------------------------------------------- NATIONAL UNIVERSITY OF IRELAND, DUBLIN ------------------------------------------------- ------------------------------------------------- MASTER OF SCIENCE (SINGAPORE) ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Business Policy ------------------------------------------------- BMGT 4025S ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- STUDY GUIDE ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- MSc14/15 FT / Singapore ------------------------------------------------- ------------------------------------------------- Copyright October 2012 Author: Dr Yousef Eiadat and Dr Richard Tan (2012) This manual was prepared for University College Dublin as a comprehensive support for students...
Words: 4355 - Pages: 18
...in Australia are very different from those of Germany where Adidas is based. The difference is in terms of societal, political, and economical factors. Therefore, before the organization considers venturing in Australia, it is imperative that the company considers foreign market entry strategies. Since the company specializes in sports attire, it is only considerate that the sports culture of Australia as a foreign market to the company is studied well. In addition, company should consider both political and economical factors of the Australian society. Successful businesses are premised on sound politics and economic environments of countries where they are located. The favorable the politico-economical factors of a country the success of a business and the contrary apply. However, potential alliances are also important for foreign markets and are also part of entry strategy (Walter & Murray, 1988). The above factors affect and are important to the entry into foreign markets. For instance, political and economical factors play key roles in the foreign markets entry through factors that influence them. Licensing, which informs the key option for entry into an international market like in the case of Adidas, is influenced by both economic and political factors. For instance, licenses are part of legislations of a country. Legislations are generated through a political process and means. Therefore, political stability of a state is an important factor to explore before venturing...
Words: 1249 - Pages: 5
...International Management: Managing Across Borders and Cultures, Text and Cases, Seventh Edition SEVENTH EDITION FEATURES • Streamlined text in eleven chapters, with particular focus on global strategic positioning, entry strategies and alliances, effective cross-cultural understanding and management, and develop- ing and retaining an effective global management cadre. The seventh edition has been revised to reflect current research, current events and global developments, and includes company examples from the popular press. In Chapter 1, we introduce trends and developments facing international managers and then expand those topics in the context of the subsequent chapters. For example, we discuss developments in globalization and its growing nationalist backlash— in particular resulting from the global financial crisis. We discuss the effects on global business of the rapidly growing economies of China and India and other emerging economies such as those in Africa, and the expansion of the EU; the globalization of human capital; and the esca- lating effects of Information Technology and the global spread of e-business. We follow these trends and their effects on the role of the international manager throughout the book. For exam- ple, in Chapter 6 we focus further on strategies for emerging markets, while also dealing with changing strategies to respond to economic decline around the world and an increasing level of nationalism in some industries; we have a...
Words: 1340 - Pages: 6
...Case you are critiquing: For each of the major points below, comment on how well the case analysis team addressed each. This critique should not exceed three pages when complete. 1. Situation Analysis – how well was the SWOT analysis completed? Was there any missing information? Did the students clearly label what was internal and external to the case? Overall, the team did a good job identifying the main points of the situation analysis. However, it did not clearly label which points are internal and which are external to the case. We would also recommend including the following missing points into SWOT: One of additional strengths that we would include is the high quality of the ice cream and “super premium” ingredients that Marble Slab uses in its products. Penny Thomas can use this strength to the benefit of her promotion strategy to stress brand differences to better position the franchise against its competitors. Another strong characteristic of a franchise is assistance with expertise in areas like financing, real estate and marketing. This is a major advantage for a startup company, where potential financial risks can be minimized due to backing by the head company. A weakness that was not pointed out is relatively high pricing of Marble Slab offerings. This weakness indicates that Penny Thomas will have to target a market of customers who would be willing to pay for “affordable luxury.” An additional opportunity that we would suggest...
Words: 1582 - Pages: 7
...MGMT395 Case 1: Information & Instructions Pointers when writing up a "case" report 1. Write the introduction and conclusion AFTER responding to the questions. 2. The introduction should be one paragraph describing what your report will discuss. This is NOT an introduction to the company. 3. The conclusion should be a one paragraph summary (100 words) of your findings. No new points should be mentioned here. 4. Lead your responses by explaining the key terms. e.g. If you are asked about corporate strategies as they apply to a company, define "corporate strategy" - using your own words. Then indicate the strategy being used. Describe this type of strategy. Then, support your choice by using facts from either the case or your research. 5. Your responses to each question should be a minimum of 250 words (one page 11 pt. font, 1.5 spacing). 6. Your report should have the following elements: cover page, table of contents, introduction to your report, responses to each question, 100 word conclusion, and a reference page. Ensure you insert page numbers to align with your table of contents. 7. Each report must be submitted through Turn-it-in prior to handing in and include the Turnitin results. (Instruction available in the D2L course site.) 8. If you have any questions...please ask me! Case Assignment 1 USA Fashion Invasion Note: This is a group assignment and must be handed in as one document. You must have an introduction to your report (1-2 paragraphs describing what you...
Words: 826 - Pages: 4
...Harvard Business School Premier Case. Therefore, this paper is an analysis of Apple, Inc. based on a 7-year old case written by David Yoffie and Michael Slind published by Harvard Business School (Yoffie, et al., 2008). The following paper examines in detail the strategies utilized by the company as outlined in the strategic management steps. Several recommendations are also proposed to handle the issues surrounding the organization. Summation Apple Inc. was created by two college dropouts, Steve Jobs and Steve Wozniak and later joined by A.C. Markkula, Jr; they created the company with one circuit board (Apple I) and turned into 200 sales within two months time (Yoffie, et al., 2008). The company developed a premium-price differentiation strategy; in which two years later, Apple II was introduced to the world. Apple II tripled company sales to more than 100,000 in less than two years compared to Apple I (Yoffie, et al., 2008). This paper analyzes and reviews the strategies utilized by Apple Inc. based on my comprehension of strategic management; and propose recommendations for several problems that Apple faced to become a successful billion dollar company. Situation and Pending Decision Analyzing the case presented a huge problem for Steve Jobs and his management team, was the company’s success acquired recently a temporary “up” in this fluctuated industry, or did he finally integrate a strategy for the company – premium-price strategy (Yoffie, et al., 2008, p. 15)....
Words: 1367 - Pages: 6
