...Assessment #1: Crafting and Executing Strategy: Jet Blue Airlines Name: David T. Browne Instructor: Professor Joy Thomas Bus 599: Strategic Management – Crafting & Executing Strategy Date: October 15th, 2011 Abstract The purpose of this paper is to evaluate Jet Blue Airways (JetBlue) company’s crafting and executing of strategy in an industry that has been undergoing challenging changes. These trends are unique to the industry and affect how organizations strategize to remain competitive. To do this analysis, this paper takes a deeper look into JetBlue’s strategic intent which is born of its business model. Next, the paper examines JetBlue’s financial objectives and the methodology by which they have been able to achieve those objectives. Then the paper looks at the company’s operations through the elements of its human resources, organizational culture, handling of costs (which is an industry wide problem) to find out if these elements create a competitive advantage. Finally, 2008 was an important year in the strategic direction of the company therefore the paper looks at how the strategies implemented have performed and if they will allow the company to survive thereafter. Discuss the trends in the U.S. airline industry and how these trends might impact a company’s strategy. The airline industry has been at the peak of a cost and profit battle for more than a few years now. High fuel and other costs have made some airline giants either file...
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...Crafting and Executing Strategy: Jet Blue Airways Sandra M. Norton Strayer University Strategic Management - BUS 599 Marilyn Carroll, PhD 15 April 2012 Crafting and Executing Strategy: Jet Blue Airways Introduction Current and emerging trends have a reflective effect on the U. S. airline industry. These trends present a noteworthy challenge to an airline’s performance and business strategy. These subsequent trends will be introduced and discussed: 1) crude oil prices; 2) rise of video teleconferencing; 3) global economic decline; 4) social media and brand perception; and 5) post 9/11 security requirements. In analyzing these trends, crude oil prices and their effect on the industry will be explored first. Trends in the U.S. Airline Industry According to Oil-Price.Net, crude oil prices were reported at $103 per barrel as of April 15, 2012. Government figures suggest that jet fuel prices have risen 12 percent since January, which is a 4 percent from last year. In response to the increase, Delta, Frontier, American JetBlue, Southwest and others have increased fares in an attempt to offset costs (USA Today, 2012). While increased fees, fares and related charges have been levied upon the travelers to assist in offsetting the cost of fuel, it is important to mention that these fees and increases are also a source of revenue generation for the airlines. When fuel costs decline, the fees and charges do not and could possibly increase an airline’s profit margin. Fuel cost...
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...Assignment 1: Crafting and Executing Strategy 1. Develop an argument supporting the importance of a strategic plan for the success of the defined business. The business I chose is a bakery, not currently operational as this would be my own company. I believe the most important strategy in business is to have high employee morale. If you take care of your employees, they will take care of you and your business. Even if they are a good worker (on time for their shift, stays on task, willing to work extended hours, etc.), but they have a poor attitude, it can negatively impact your business. By having happy and energetic employees, their attitudes will carry over to how they treat your customers, making the customer’s experience a memorable one. A happy customer is a repeat customer. My strategic plan would be to have high employee morale, high quality products, focus on the special needs and tastes of customers, and have competitive pricing and specials (Thompson, Strickland, & Gamble, 2009). It is very important to have a strategic plan in business so that you and your employees know what the goals of the company are. Starting a business blind, with no plan, ideals, goals, or foresight can almost guarantee the business will fail. Peter Drucker stated there are four main strategies and implemented them in his life. • “Being fustest with the mostest” – creating something new and different. • “Hitting them where they ain’t” – use another’s idea and improve it...
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...Crafting and Executing Strategy Karen M. Lawrence BUS 599 – Strategic Management July 6, 2012 Strategic planning is most often an afterthought for many first introduced to the business world. What is most surprising is how a well thought out strategic plan is just as important and effective to small businesses as it is to big businesses. The business environment in both cases must clearly and efficiently develop set goals, mission and objectives to better understand its strengths and weaknesses in order to assess various opportunities and move towards a more realistic yet challenging path going forward. Strategic planning requires a multitude of interaction between environmental forces which consist of suppliers, customers and competitors all of whom the owner will establish and build relationships. The importance of a strategic plan goes to the foundation of business success and longevity which must remain strong through stable and unstable economical conditions. Porcher’s Custom Cabinets is a small one man operation with a current volume to employ five additional people. Accustomed to riding the wave of the housing boom, the housing environment opened the doors to multiple opportunities which the economic doors closed just as fast. Porcher’s Custom Cabinet thrived, building relationships where advertisement was through word of mouth and homeowners were willing to stand in line for top quality custom cabinets at a price that that was not dictated by the economy...
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...Crafting and Executing Strategy Take the Time and Time it Right Greetings Card Company Belvis Wright Strayer University Strategic Management-BUS 599 Dr. Gary B. Shelton July 15, 2012 Abstract What can a business professional implement that would help a company to be successful? In an effort for a company to be successful, business professionals should create and execute strategic planning models which outline specific results that are to be achieved and by establishing es a course of action for achieving them. In our current failing economy, business professionals are becoming more aware of the how challenges ing it is in to starting a business and remaining successful. While most would agree that failures are personally painful and could have been conceivably too often prevented, ??????? consensus dissolves around how to take action to the problem.?????? Some business owner’s may believe think that a successful business’ is based solely on luck; while other’s business owners believe may think that their success is based on the location. of their business. Although, both concepts could be attributed to success, in this report I provide a solution that could help business owners ????? transit ??? a business toward its success. In this paper, as a business professional for Take the Time and Time it Right Greetings Card Company, I argue in support of and focus on the importance of implementing a strategic plan for the success of this business. Several business...
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...Assignment 1: Crafting and Executing Strategy Brittany A. Anderson Dr. Aikyna Finch BUS 599 January 20, 2013 Develop an argument supporting the importance of a strategic plan for the success of the defined business. As Alan Lakein once stated, “failing to plan is planning to fail”. Strategic plans are “expressions of ownership dreams and visions of successful results. Strategic planning functions as the ‘design’ just as a blueprint functions as the ‘how’ to build something. The strategic plan displays the finished product or goal. Usually, in smaller businesses, strategic planning is focused on the overall company, not on a department or division” (Pirraglia, n.d.). What determines the future successes of a company is its present critical decisions. Simply put, without strategic planning, there is no direction for the company which will lead to a collapse in communication and ultimately, a collapse in the business. Bee-YOUtiful Cosmetics is an affordable, luxury retail cosmetic line that caters to any and every woman. Our mission statement is to provide quality and affordable make-up to enhance beauty, empower women, and enable change. We want our cosmetic line to be accessible to each economic class to promote equality amongst women. Its spelling is unique and pays homage to the bee. Bees are known for being hard-working, diligent, organized, unified, loyal, and devoted. In some cultures...
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...1. Discuss the trends in the U.S. airline industry and how these trends might impact a company’s strategy. The rising oil prices are increasing the cost of the flight in spite of reduction in the prices of the flight. There is less scope now to get the tickets urgently because all the tickets are booked at least 2 months before to counteract the demand. Although the fares are declining but the airlines increasing the prices of checking, refreshment, which ultimately have negligible impact in the prices of the flights. It has been seen that most of the travelers are selecting economy class instead of business class so that they can meet their expenditure as per their budget. But the airlines are trying to sell their business class seats first to generate higher revenue. To reach their target, the nearby hotels are making contract with the airlines. The specific percentage is associated with the airlines. The main objective of them is to attract more customers to increase their revenue (Thompson, Strickland & Gamble, 2010). Therefore they are cutting their cost by decreasing the fares but on the other hand they are giving fewer facilities to the passengers like they are not providing any meal if providing it is chargeable. Again it is seen that some flights are providing only drinks and cakes to the customer. But the registrations of flights tickets are seem to be very easier and convenient for the customer. Now they can book the ticket online without bearing any charge of brokers...
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...Strategic Planning for the Beauty Industry Name: Removed BUS599- Strategic Management Date Removed Professor: Removed Strategic Planning for the Salon and Day Spa Developing and executing a strategic plan is vitally important whether you are the founder of a large corporation or simply the owner of a small business. For instance, the start-up business salon and day spa “Salon VII” would benefit from a strategic plan by building a loyal customer base and gaining and sustaining a competitive advantage in the highly competitive salon industry. Simply put, the strategic plan is an “expression of ownership dreams and visions of successful results” (Pirraglia, 2012). In order to develop and foster a sustainable competitive advantage, the owner of Salon VII must first decide on a strategic approach. Because of the high competition in the salon industry, the owner should strive to create a differentiation-based advantage. This differentiation should be centered on high quality and top-notch customer service as well as offering a large product selection and value-added services (Thompson, 2010). With this approach in mind, the salon and day spa owner must develop the mission statement and strategic vision. The Mission The mission of Salon VII is to provide our clients with the highest quality barbering, hairdressing, and cosmetology services and products in the salon and beauty industry. Salon VII also delivers the highest standard of customer...
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...Questions on Leadership 1. What is the shape of the perfect leader and does he or she exist. * The shape of the perfect leader he or she must have: i. A vision of the future (where are we going) ii. The ability to encourage followers to jump into that experience (work through the many changes that are required to achieve that vision). iii. Make a self-improvement for themselves and their followers. It can make them to be a good coaches and mentors. iv. Empowering their followers to get things done (delegates). * There are no perfect leaders because a good leaders always trying to improve themselves through self-study, education, mentorship, making mistakes and then learning from that mistake. These statements give us the answer that the perfect leader does not exist. The perfect leader should not think that they are the perfect one because they should improve their qualities by learning from the situational and their followers. * Even though there is NO perfect leader, the GOOD LEADER still exist. That means the good leader requires deep human qualities, beyond conventional notions of authority. A good leader would be able to identify the organizations goals or specific targets. The leader than should be able to impart these goals to his team members and commit them to work hard and intelligently to achieved the desired organizational goals. 2. Does a leader need to be motivated? How can leaders maintain themselves to stay motivated? ...
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...plans, strategic plans are expressions of ownership dreams and visions of successful results (Pirraglia, 2012). The strategic plan displays the finished product or goal. Usually, in smaller businesses, strategic planning is focused on the overall company, not on a department or division (pirraglia, 2012). Envisioning goals and then defining strategies you'll embrace to achieve your objectives is the essence of strategic planning. Easy to overlook in a smaller business, strategic thinking identifies the methods you will take to reach your goals. For example, if you believe you must expand your e-commerce function to achieve increased sales volume, you've also identified the method to use your strategy and reach company goals. Save the specific steps and components for your business plan. By selecting the strategy, you have defined the method to employ in your detailed specifications in your business plan. As critical as business planning is to the success of your company, all plans are useless unless followed by action. An additional side benefit of strategic planning is the natural action plan that stems from identifying your preferred strategy. While strategic planning involves your vision,...
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...Ranganathan, Krishnan, & Glickman (2007) looked at how a billion-dollar travel retail company (GlobShop) outsourced its IT activities especially after the September 11th, 2011 attacks. Unfortunately, as a result of outsourcing, the company had reduced its workforce by over 50%. “Duty” is a term used to describe a variety of taxes imposed on goods. Duty-free shopping allows tourists to purchase goods at lower prices. In the 1950’s, GlobShop sold foreign cars and liquor, and with the growth of global travel, GlobShop began to expand worldwide. Drawbacks occurred with the Gulf War of 1990 as well as economic recessions. Therefore, the company would have to find a way to lift itself back up. Soon IT operation at GlobShop was decentralized and each region had its own IT division that catered to the local needs. To follow was a major IT reorganization that would pave the way for significant cost savings. After studying the problems and issues, Rogers (CIO) of GlobShop proposed an approach for reorganization. The idea was to bring together the ten regional IT units into one global IT unit, with all the IT operations dispersed in two centres: one in Asia and one in the USA. Highlights of the new reorganization included: - Centralized global IT budget - Streamlined IT governance - Consolidation and standardization Also as a part of reorganization, GlobShop cut its IT costs by outsourcing a part of application and maintenance. They hired an Indian vendor (ISS)-Indo Systems...
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...crafting and executing strategy 18th edition.pdf DOWNLOAD HERE WHAT IS STRATEGY AND WHY IS IT IMPORTANT? 1 http://testbanksolutionmanualcafe.com/free_samples/Solution%20Manual%20and%20Case%20Solution s%20for%20Crafting%20and%20Executing%20Strategy%20The%20Quest%20for%20Competitive%20A dvantage%20Concepts%20and%20Cases%2018th%20Edition%20by%20Thompson.pdf Crafting & Executing Strategy 18th Edition 115 b. Outcompeting rivals on the basis of differentiating features such as higher quality, wider product Assignment Questions http://testbanksfor.com/NewSamplesfile/Solution-Manual-and-Case-Solutions-for-Crafting-and-ExecutingStrategy-The-Quest-for-Competitive-Advantage-Concepts-and-Cases-18th-Edition-by-Thompson.pdf Crafting & Executing Strategy 18th Edition 269 Students will also question whether the monastery possesses sufficient resources to operate a thriving coffee Free PDF: Crafting And Executing Strategy 15th Edition http://www.productmanualguide.com/newpdf/crafting-and-executing-strategy-15th-edition.pdf ... (Crafting Crafting and executing strategy 18th edition answer - Data . Crafting€. Quest for Competitive Advantage, Concepts and Cases, 15th ed., ... (Syllabus Template-Required Content) - Texas A&M ... http://www.tamuct.edu/departments/syllabi/fall2011/G%20B%20588%20110.doc value-adding student support materials for the 18th edition of crafting & executing strategy. tho12729 fm i-xlviii - McGraw-Hill http://highered.mcgraw-hill.com/sites/dl/free/0078112729/898107/Preface...
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...Thompson−Strickland−Gamble: Crafting and Executing Strategy: Concepts and Cases, 16th Edition I. Concepts and Techniques for Crafting and Executing Strategy 1. What Is Strategy and Why Is It Important? chapter one © The McGraw−Hill Companies, 2008 1 What Is Strategy and Why Is It Important? Strategy means making clear-cut choices about how to compete. —Jack Welch Former CEO, General Electric A strategy is a commitment to undertake one set of actions rather than another. —Sharon Oster Professor, Yale University The process of developing superior strategies is part planning, part trial and error, until you hit upon something that works. —Costas Markides Professor, London Business School Without a strategy the organization is like a ship without a rudder. —Joel Ross and Michael Kami Authors and Consultants Thompson−Strickland−Gamble: Crafting and Executing Strategy: Concepts and Cases, 16th Edition M I. Concepts and Techniques for Crafting and Executing Strategy 1. What Is Strategy and Why Is It Important? © The McGraw−Hill Companies, 2008 anagers face three central questions in evaluating their company’s business prospects: What’s the company’s present situation? Where does the company need to go from here? How should it get there? Arriving at a probing answer to the question “What’s the company’s present situation?” prompts managers to evaluate industry conditions and competitive pressures, the company’s current performance and market standing, its resource strengths...
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...Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases By Arthur Thompson, Margaret Peteraf, John Gamble, A. J. Strickland III Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases Description: Overview: The 18th edition of Crafting and Executing Strategy represents one of our most important and thoroughgoing revisions ever. The newest member of the author team, Margie Peteraf, led a thorough re-examination of every paragraph on every page of the 17th edition chapters. The overriding objectives were to inject new perspectives and the best academic thinking, strengthen linkages to the latest research findings, modify the coverage and exposition as needed to ensure squarely on-target content, and give every chapter a major facelift. While this 18th edition retains the same 12-chapter structure of the prior edition, every chapter has been totally refreshed. And the chapter content continues to be solidly mainstream and balanced, mirroring both the best academic thinking and the pragmatism of real-world strategic management. Known for its cases and teaching notes, this edition provides an unparalleled case line up of 28 cases. (1) 25 of the 28 cases are brand new or extensively updated for this edition, (2) The selection of cases is diverse, timely, and thoughtfully-crafted and complements the text presentation pushing students to apply the concepts and analytical tools they have read about. (3) Many cases involve high-profile...
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... University of Alabama 1. J. mmmm m University of Alabama University of South Alabama Crafting and Executing Strategy The Quest for Competitive Advantage Concepts and Cases 17TH EDITION McGraw-Hill Irwin Boston Burr Ridge, IL Dubuque, IA New York San Francisco St. Louis Bangkok Bogota Caracas Kuala Lumpur Lisbon London Madrid Mexico City Milan Montreal New Delhi Santiago Seoul Singapore Sydney Taipei Toronto Irfbfl ®(f Part O n e Concepts and Techniques for Crafting and Executing Strategy 3 Section A: Introduction and Overview 1. What Is Strategy and Why Is It Important? 4 What Do We Mean by Strategy? 6 Strategy and the Quest for Competitive Advantage 7 Identifying a Company s Strategy 10 Why a Company's Strategy Evolves over Time 11 A Company s Strategy Is Partly Proactive and Partly Reactive 11 Strategy and Ethics: Passing the Test of Moral Scrutiny What Makes a Strategy a Winner? 15 13 14 The Relationship between a Company's Strategy and Its Business Model Why Are Crafting and Executing Strategy Important? 17 17 Good Strategy + Good Strategy Execution = Good Management Illustration Capsules 1.1. Starbucks' Strategy in the Specialty Coffee Industry 8 1.2. Microsoft and Red Hat: Two Contrasting Business Models 16 2. Leading the Process of Crafting and Executing Strategy 22 What Does the Strategy-Making, Strategy-Executing Process Entail? Phase 1: Developing a Strategic Vision 24 28 How a Strategic Vision Differs from...
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