...1.0 WHAT ARE THE ELEMENTS OF STRATEGIC MANAGEMENT? Strategic management consists of the analyses, decisions and actions an organization undertakes in order to create and sustain competitive advantages. The strategic management process is made up of four elements: situation analysis, strategy formulation, strategy implementation, and strategy evaluation. These elements are steps that are performed, in order, when developing a new strategic management plan. Situation Analysis The situation analysis provides the information necessary to create a company mission statement. Situation analysis involves "scanning and evaluating the organizational context, the external environment, and the organizational environment" (Coulter, 2005). This analysis can be performed using several techniques. Observation and communication are two very effective methods. To begin this process, organizations should observe the internal company environment. This includes employee interaction with other employees, employee interaction with management, manager interaction with other managers, and management interaction with shareholders. In addition, discussions, interviews, and surveys can be used to analyse the internal environment. Organizations also need to analyse the external environment. This would include customers, suppliers, creditors, and competitors. Several questions can be asked which may help analyse the external environment. It examines the company’s relationship with its customers and...
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...1. Introduction: The main aim of organizations is to achieve business goals through making decision. Hussain (2008) argued that organizations could derive important information through strategic information systems in order to educate them the process of making decisions. This report will critically evaluate the importance of how the information systems generate value in the organizations by introducing the nature of information system, defining the concept of information systems and the change that may happened. This report will also identify the solution of change and the strategies that used to generate value in the organization. The following will discuss more details. 2. Nature of information system: 2.1 Nature of information: Diagram 1: Source ( Stair and Reynolds ,2013) As the diagram 1 shows, the information is transformed from data which consists of raw facts and the knowledge is required to support a specific task in order to processed the data into useful information. However, it is of vital importance for organizations to identify and leverage quality information (Hussain, 2008). It is because valuable information not only can help decision makers achieve their goals, but also help people in their organizations perform tasks more efficiently and effectively . In terms of characteristics of quality information, Stair and Reynolds (2013) identified eleven characteristics of quality information: complete, timely, secure, accurate...
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...difference between maintaining market leadership and barely surviving (Davila, Epstein& Shelton, 2006). To regain its long held standing as a leader in the snack industry Best Snack, Inc must implement a plan that focuses on creating a culture that cultivates innovation, developing management systems that are aligned with the new strategy, and creating a new product line that will bring the company back to the forefront in the snack industry. Describe the Situation Issue and Opportunity Identification Best Snacks, Inc has been a leader in the snack industry for many years. As the snack industry began to change to meet the demands of a consumer market that is more health conscious, Best Snacks has failed to meet the challenge. Best Snacks has been slow to adapt to change and stray away from its tried-and-true research, development, and marketing activities (University of Phoenix, 2006). The complacency of Best Snacks, Inc has caused it to have falling sales and stock prices. Successful organizations tend to become complacent and conservative in order to preserve their core competencies (Davila, 2006, p.239). Best Snacks, Inc has an opportunity to evaluate its current strategy and develop a new strategy that is conducive with innovation and creativity. The lack of innovation at Best...
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...------------------------------------------------- Priority of Marketing within an Organization | EMBA 603Irfan Chughtai | Today’s Organizations Today’s businesses are getting increasingly complex and diverse. Globalization, technological changes, knowledge management and cross boundaries collaboration are four factors that are major forces creating change in organizations today. These changes affect decision-making as organizations are forced to recognize that they need leaders who are innovative, creative visionaries who understand the various environments that their organizations are operating in, and are able to differentiate between these different environments. These environments include: the external or operating environment; the competitive environment and the macro environment in which influences such as the economy, government regulations, societal values, demographics and technology come to bear upon an organization. The external influencers included talents and the skills in the workforce, global competition, faster and more disruptive change within the industry, and technological developments. In today's world, organizations are very different due to competitive pressures and technological breakthroughs. Organizations today are: * leaner and more agile * more focused on identifying value from the customer perspective * more tuned to dynamic competitive requirements and strategy * less hierarchical in structure and decision authority * less likely...
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...introduces the concept of strategic management and provides an overview of strategic management. This chapter is divided into six sections. The first section explains the evolution of the strategic management concept. This is followed by the second section on definition of strategic management. The third section describes the context in which strategic management takes place. This is followed by the fourth section which covers the scope of strategic management. The fifth section shows some of the benefits of strategic management for organizations. Finally the sixth section describes the process of strategic management. Upon the completion of this chapter you should be able to: 1. understand the concept of strategic management 2. know the brief history of the strategic management concept 3. understand the definition of strategic management 4. know the context in which strategic management occurs 5. comprehend the scope of strategic management 6. describe the benefit of strategic management 7. know the strategic management process 1.1 Introduction to the Strategic Management Concept Strategic management is a concept that originated from the military field. The concept of strategic management was first applied in ancient battles. The period around 500 B.C. saw numerous battles that took place Greece and China. The early written record on strategic management can be traced back during this warring period. The term strategy is derived from the Greek word ‘strategos’...
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...Abstract Engineers or the designers that design and re-engineer the organization, introduce the content at appropriate places in the design process. The other process is the collaboration of organization design with organizational change. The successful roles of leadership roles requires an ability to design and change the organization. Modern organizations require to be designed and properly structured to handle customers and their queries in various regions of their country and world. Strategy formulation is the best tactic for an organization to succeed in the long run, while many studies acknowledge that strategies normally fail not because of poor strategy formulation, but because of inadequate implementation, the process of strategy implementation receives less research attention than strategy formulation. Design Criteria is the criteria against which all options are tested. This provides a practical and positive focus to strengthen, motivating and engaging workers for the design team to design a perfect solution for the problem. People and its corporate culture are the heart of Organization’s strategy. Keywords: [Click here to add keywords.] Leading Organization Design: Modern organizations require to be designed and properly structured to handle customers and their queries in various regions of their country and world. They also need to engineer such automated systems that works on the six sigma process to decrease the deficiency or the rate of mistake an automated...
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...Strategic Change Strategy, Culture and Action Gerry Johnson One of the major problems facing senior executives is that of effecting significant strategic change in their organizations. This paper develops a number of explanatory frameworks which address the links between the development of strategy in organizations, dimensions of corporate culture and managerial action. In considering such linkages, and by illustrating them with examples from work undertaken in companies, the paper also seeks to advance our understanding of the problems and means of managing strategic change. A good deal has been written in the last decade about the links between organizational strategy and culture, the problems of strategic inertia in firms, and the need for managers to manage the cultural context of the organization so as to achieve strategic change and an adaptive organization to sustain the change for long term success. Howcvcr much of what has been written, whilst striking chords of reality for managers is frustrating because it lacks precision in explaining links between organizational culture, strategy and managerial behaviour. This paper seeks to help remedy this situation. It does so by clarifying the links between the development of strategy in organizations and organizational culture, so as to provide quite precise frameworks and explanations by which managers can discern reasons for strategic inertia and barriers to strategic change. It...
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...in approaching strategic problems faced by the organization. These strategic lenses are strategy as a design, strategy as experience, strategy as ideas, and strategy as discourse. In viewing strategy as a design, it sees strategy as a logical process which weighs the pros and cons of the decisions to be made. Strategic design takes into account the capabilities and restraints of the company and analyzes it to come up with the best decision. One organization whose strategy lens is design is Apple. Apple, as a highly-innovative company, needs to weight and analyze the current standing of the company and the current market conditions before making decisions on their products. Another strategy lens is strategy as experience. In this view, strategic decisions are based on past strategy outcomes. Since the approach relies on past experiences, there is little to change in the way to manage the organization. Ready-made solutions are implemented to solve problems. Innovation only occurs if the problem the organization is facing was not included in the past. One common example of this lens are restaurants. In restaurants, managers were trained to follow a certain protocol when addressing customer complaints. These protocols were based on past experiences by the previous managers of the restaurant. 2.) The culture of organization consists of four aspects: values, beliefs, behaviors, and assumptions. The values of an organization is its basic identity which is stated by its mission...
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...| STRATEGIC CHANGE MANAGEMENT | FINAL ASSIGNMENT | | Abin | [Pick the date] | | Introduction: Life Insurance Corporation of India established in 1956, is the one and only public sector insurance company in India. There were many small insurance companies and provident societies worked at that time, merged together to form LIC of India. It has got wide and huge network of Insurance agents and distributors which made them popular amongst the most remote areas of India. As it belongs to public sector, it is the most trusted insurance company in India. Since 2001, LIC of India was the monopoly power in Insurance industry on India. In 2001, private insurance companies are allowed to enter the insurance sector in India. But LIC tried to maintain its market leadership through renewing and transforming its strategy. Its huge presence in both urban and rural markets is their major core competency. The products if LIC are very simple and customer friendly, so that even illiterate people could understand the policy through explaining. Its products are mainly concentrating on all the needs and demands of the customers such as, protection, life cover, savings, investments, endowment plans, women plans, child plans, micro- insurance plans etc. The major subsidiaries are LIC housing finance, LIC Nepal, LIC Lanka, LIC International, BSC etc. (www.myinsuranceclub.com). The intervention of more than 20 private insurance companies such as Bajaj Allianz, ICICI Prudential, HDFC...
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...LEVEL 7 EXTENDED DIPLOMA IN STRATEGIC MANAGEMENT & LEADERSHIP STRATEGIC CHANGE MANAGEMENT ASSIGNMENT UNIT: STUDENT NAME : COLLEGE ID : TUTOR : SUBMISSION DATE : WORD COUNT : TABLE OF CONTENTS Introduction …………………………………………………………………………… 03 LO1. Understand the background to organizational strategic change 1.1 Discuss a minimum of three established models of strategic change, highlighting the differences in approach. 1.2 Evaluate the relevance of models of strategic change, and using examples from organizations, Explain why the models for change are appropriate in their selected examples. 1.3 Assess the value of using strategic intervention techniques that are used in organizations. LO2. Understand issues relating to strategic change in an organization 2.1 Examine the need for strategic change in an organization. 2.2 Show an understanding of the forces that are impacting on an organization and driving the need for Change. 2.3 Assess the resource implications of the organization not responding to strategic change. It is Expected that learners will assess the relevant financial, human and physical resources. LO3. Be able to lead stakeholders in developing a strategy for change 3.1 Develop systems to involve stakeholders in the planning of change. The systems need to be Appropriate...
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...Journal of Business Administration and Management Sciences Research Vol. 3(1), pp. 001-005, January, 2014 Available online athttp://www.apexjournal.org ISSN 2315-8727© 2014 Apex Journal International Review Organizational change: Case study of GM (General Motor) Muhammad Hashim* Government college of Management Sciences Peshawar, Scholar at Preston Islamabad, Pakistan. Accepted 24 January, 2014 The main purpose of this article is to elaborate and bring to light the core concept of the organization change, how it works, different factors which moves organization to change, steps for change, resistance for change, change forces, change management approaches and last an example of General Motor (GM) has given that how change was taken place in the organization and what was the strategies for change management. Recommendations and conclusion forms the last part of the paper. . Key words: Organization change, factors, resistance, GM. ORGANIZATIONAL CHANGE: A BRIEF INTRODUCTION The business world today are going very fast and new technology new method of product and new taste of customer and new market trend as well as new strategies for best control of the organization and motivation of employees are emerging and taking place from old to new methods, because the customer are the kings of market and most of the company now spending billions of amount on research and development in the organization, by keeping in view all these things the manager and expert of the today business now...
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...CHANGE MANAGEMENT (MGMT625) Table of Contents Lecture # 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. Topic Page # Course Orientation ................................................................................................. 1 Benefits and Significance of Change Management ............................................... 5 Kurt Lewin Model: Assumptions and Implications ............................................... 8 Implications af Kurt Lewin Model....................................................................... 12 Some Basic Concepts and Definitions ................................................................. 15 Transactional Vs. Transformational Leadership .................................................. 18 Theories of Change in Organisations................................................................... 21 Life Cycle Theory ................................................................................................ 22 Teleological Theories of Change ......................................................................... 25 Dialectical Theories of Change............................................................................ 27 A Dialectical Approach to Organisational Strategy and Planning ....................... 29 Limitation of Dialectics; DA and DI............................................................
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...Times is a prominent daily newspaper in the United States. The organization has started its operations in 1851 in New York City and expanded its services to other states in the country over a period of time. With the headquarters located in New York, the organization has circulation of 1.8 million. Recently, New York Times has been facing wide-variety of challenges which needs to be addressed with an immediate effect so that there would not be any major impact on the future growth prospects of the organization. Some of the major issues that New York Times facing are plummeting revenues, inability to sustain with business transformation and poor operating cash flow. The major reasons for these challenges are increasing operational costs, reduced print subscriptions, reducing advertising revenue, rapidly changing technologies, changing consumer behaviours, lack of revenue from digital platforms, and poor online financial strategy etc. In order to address these challenges, it is recommended for the organization to follow two business strategies. They are Business Process Reengineering Strategy and Monetizing Digital Platforms. By implementing these strategies, New York Times can see improvement in speed of service provision, operational cost, quality of service and productivity. The paper also suggested a couple of change management models that help New York Times to successfully manage the change. These strategies include Lewin’s 3- Stage Model and Kotler’s 8-Stage Model. Finally...
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...(corporate) organization design per a specific and new strategy (e.g. launch of a new subsidiary, new product line/Business unit, M&A), with a particular attention on people side of the change management (individual change management). A systematic approach to organizational change management is beneficial when change requires people throughout an organization to learn new behaviors and skills. By formally setting vision/expectations, employing concrete tools to improve communication and proactively seeking ways to reduce misinformation, stakeholders are more likely to buy into a change initially and remain committed to the change throughout any discomfort associated with it. Yet, it is to bear in mind that a specific framework might be needed for each kind of system to compute or predict its behavior. The more complex the system the more we depend on empiric findings to establish a specific framework/model. Any prediction can only be an approximation. No framework for organizational change can be universally applicable to more than a limited set of change processes. Besides, the majority of the models are presented as a linear model (step by step), which assumes predictability and manageability of change processes. This does not relate to the complexity theory (organization/structure is complex & adaptive and can be self-organizing) used for strategic management & organizational studies. Furthermore, the models are often proposed for a top-down change (i.e....
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...Abstract Business strategy is important for organizations to operate, and it significantly impacts on every department of organizations. If the strategy has changed, it will cause many problems. In the process of implementing these changes, there is support or resistance from shareholders. This report focuses on analyzing BA’s strategic changes and dealing with managing these changes. In tradition, HRM is the organizational function that deals with requirement, training, assessment and rewarding of employees, while also managing people and the workplace culture and environment. Now the new role of HRM refers to overcome the challenge form implementing changes of organizational strategies. The case also indicates that the flexible HRM plays a significant role of dealing with the disputes between employees and management. Key words: strategy management, British Airways, change management, labor dispute Implication of strategic change in British Airways 1. Introduction Generally, a company makes strategies based on the changing environment. But if the strategies changes, there are many barriers to conduct. Human resource is performed as the most valuable asset of organizations. How to manage and more efficiently utilize the asset is so significant for organization to operate and develop. Obviously, there are resistance form employees. Therefore, human resource department is responsible for coordination in the organization. Human resource...
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