...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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...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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...Planning strategy was once predominant in the 1960s and 1970s. Although it faltered in the 1980s and 1990s, it still continues to be a significant influence today. While the fact that many industries continued to experience turbulent was the main reason of the fall of planning strategy, it also accounted for the rise of the emergent strategy. Entrepreneurial organizations increasingly rely on emergent strategy development rather than formal planning processes (Fletcher & Harris, 2002). This literature review will attempt to discuss the debate over the prescriptive and emergent approaches for developing strategy followed by the main strengths and weaknesses of the article. The article uses experiences of a craftsman and a potter to develop an argument that the crafting image better captures the process by which effective strategies come to be than the formal planning (Mintzberg, 1987). Mintzberg stresses a strategy is actualized through the processes of learning, negotiation, and proposes that the distinction between planning and implementation is untenable (Mintzberg, 1990). “Openness of emergent strategy enables management to act before everything is fully understood-to respond to an evolving reality rather than having to focus on a stable fantasy.” (Mintzberg, Waters 1985). Emergent strategy is therefore described as a trial and error approach which allows amendments, rather than one fix objective, as in prescriptive strategy (Downs et al 2003). Mintzberg thus believes...
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...“Crafting Strategy” (Mintzberg, 1987) Positioning in the Field of Strategy “…I believe the problem often lies one step beyond, in the distinction we make between formulation and implementation, the common assumption that thought must be independent of (and precede) action.” (Mintzberg, 1987) The above quotation, taken from Henry Mintzberg’s “Crafting Strategy”, concisely outlines one of the most prominent debates in the field of strategy over the last fifty years. Although the field is heavily fragmented - a feature highlighted by Mintzberg’ et al.’s “Ten Schools of Thought” model (1998) – it can be reduced into the two key approaches implicit above: the prescriptive, or Planning School, and the descriptive, or Learning School. The prescriptive approach describes strategy formation as a deliberate, conscious process of thought that comes prior to implementation. Most authors from this school define strategy as the establishment of a company’s future position [see, for example, Andrews, 1965; Ansoff, 1965, Byers, 1985; Chandler, 1962], illustrating how planning is a cornerstone of the prescriptive approach to strategic management. Serving as a juxtaposition, the descriptive approach suggests that strategies will emerge through the process of trial-and-error and that intention need not precede action. Mintzberg and Waters (1985) argue that the “open, flexible and responsive” nature of emergent strategies is especially important during crises when the environment...
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...A Critical Review Of Crafting Strategy - Henry Mintzberg Table Of Contents Introduction ............................................................................................. 2 Wider Debate Of Strategy .................................................................. 2 Placing The Article In The Wider Debate.................................... 4 Strengths & Weaknesses of the article......................................... 4 Conclusion................................................................................................. 6 References................................................................................................. 7 1 Introduction This essay will critically evaluate the article “Crafting Strategy “ written by Henry Mintzberg. The essay will evaluate the difference between deliberate and emergent strategies and will compare the article against wider debate about processes of strategy. Strengths and weaknesses of the article will be critically reviewed by comparing with previous academic journals and conclusions will be made upon findings. Wider Debate Of Strategy Mintzberg (1984, pp. 69) argues that “strategies can form as well as be formulated” he believes they can emerge due to an ever changing environment” In contrast Porter (1987) takes a more deliberate strategy approach he believes there are 3 types of strategies, low cost, differentiated or focus. “Strategy is the creation of a unique and valuable position involving a different...
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...Now imagine someone crafting strategy. A wholly different image likely results, as different from planning as craft is from mechanization. Craft evokes traditional skill, dedication, perfection through the mastery of detail. What springs to mind is not so much thinking and reason as involvement, a feeling of intimacy and harmony with the materials at hand, developed through long experience and commitment. Formulation and implementation merge into a fluid process of learning through which creative strategies evolve. My thesis is simple: the crafting image better captures the process by which effective strategies come to be. The planning image, long popular in the literature, distorts these processes and thereby misguides organizations that embrace it unreservedly. In developing this thesis, I shall draw on the experiences of a single craftsman, a potter, and compare them with the results of a research project that tracked the strategies of a number of corporations across several decades. Because the two contexts are so obviously different, my metaphor, like my assertion, may seem farfetched at first. Yet if we think of a craftsman as an organization of one, we can see that he or she must also resolve one of the great challenges the corporate strategist faces: knowing the organization’s capabilities well enough to think deeply enough about its strategic direction. By considering strategy making from the perspective of one person, free of all the paraphernalia of what has been...
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...Crafting strategy Henry Mintzberg (1987) Introduction There are many discussions surrounding the theoretical strategies within business environments, each with its own strong points can have the power to be known as the “best approach”. Over time each strategy is stressed upon establishing why it has superiority over the other. The debated topic is Crafting strategy written by Henry Mintzberg (1987a) which discusses and amplifies its core activity that of learning through small theories and concepts. The article will also analysis the nature of the emergent strategy known as crafting strategy, with focus also on its counterpart deliberate strategy. Finally a conclusion will be given with the strengths and weaknesses of the crafting strategy. The debate According to Idenburg (1993a) there are no grounds for arguments between that of deliberate strategy and emergent strategy as their outlooks into the organisation are different. The essence of Henry Mintzberg assertion lies within the learning spectrum while that of deliberate strategy is within planning (Idenburg, 1993b). Importantly Lynch (2003a) acknowledges that there is no appropriate context in which the emergent strategy lies. According to Idenburg (1993c) the learning process approach states that it is impossible to predict the future yet in Ansoff‘s (1991a) critic study of Henry Mintzberg assertion, Mintzberg is quoted saying that “managers need to be sure and cannot act before they are sure” for this reason...
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...就像戰略可以被制定一樣，戰略也可以自己形成。 當我們想像有人在做戰略計劃時，腦海中很可能會出現這樣一幅井井有條的畫面：一位高級經理，或者是一群，坐在辦公室裡，炮製出一些其他所有人會準時執行的行動綱領。基調就是推理——理性的控制，系統地分析競爭對手、市場和企業的優劣勢。綜合這些分析產生一個清晰、明確而又完全成熟的戰略。 現在讓我們想像一下戰略手藝化，腦海中出現的很可能就是另外一幅畫面。手藝式戰略與計劃式戰略非常不同，其區別就像手藝與機械化之間的區別一樣。手藝會讓人想起傳統的技藝、專注以及通過細節的把握做到完美。人們想到更多的不是思考與推理，而是各種原材料水乳交融的感覺，這種感覺來自長期的經驗與投入。制定與執行相互交融，形成一個漸進的學習過程，在此過程中，創造性的戰略水到渠成。 我的理論很簡單：戰略手藝化更好地描述了有效戰略的形成過程，而計劃式戰略儘管流傳廣泛，實際上卻扭曲了這一過程，誤導了那些篤信它的組織。 在本文的寫作過程中，我將引用一位陶藝人的經驗，並把這些經驗與一個項目的研究結果進行對比（這一項目追踪了眾多公司在數十年間的戰略歷程）。因為陶藝人與戰略制定者之間的差別十分明顯，所以剛開始時，我的比喻就像我的論斷一樣，顯得風馬牛不相及。然而，如果我們把藝人想像成一個個人組織，就會看到她也必須解決公司戰略家們所面臨的一個重大挑戰：對組織的能力瞭如指掌，以便能足夠深入地思考組織的戰略發展方向。通過從個人視角思考戰略制定，剔除戰略諮詢公司那些條條框框，我們會對公司內的戰略形成過程有所了解。就像很多陶藝人不得不掌握手藝一樣，管理者們也必須把戰略手藝化。 在工作的時候，陶藝人坐在一堆陶土前。她的心思在陶土上，但同時她也意識到自己坐在過去的經驗與未來的暢想之間。她準確地知道過去的哪些東西對自己有用，哪些東西沒用。她對自己的工作、能力及市場非常熟悉。作為一個手藝人，她是在感覺這些東西，而不是分析；她的知識是“默示的”。當她動手時，所有這些都在她的腦海中發揮作用。這些陶輪上的作品可能沿襲她過去作品的傳統，但是她可能突然換個方向。即便如此，“過去”所起的作用一點也不減少，照樣體現在未來中。 在我的比喻中，管理者就是陶藝人，而戰略就是他們的陶土。就像陶藝人一樣，他們坐在過去的公司能力與未來的市場機會之間。並且，如果他們是真正的藝人，他們對手頭的材料應該同樣熟悉。這是戰略手藝化的精要所在。 接下來，我們將對這個比喻做進一步探討，看看戰略在實際操作中是如何制定的，而不是主觀臆想戰略該如何制定。我將不斷援引兩方面的經驗，一個是麥吉爾大學的戰略形成模式的研究項目；自1971年起，這個項目一直在我的指導下進行；另一個是成功的陶藝人的工作流程，這個陶藝人是我的妻子，她的手藝始於1967年。 戰略既是未來的計劃，也是過去的模式 如果你問戰略是什麼，幾乎每個人都會告訴你，戰略是某種形式的規劃，是對未來行為的明確指導。如果你再問他們競爭對手、政府或者他們自己追求什麼樣的戰略，他們很可能就會不停地描述他們過去的行為。最後你會發現，戰略和其他很多詞彙一樣，人們下定義是一套，用起來卻是另外一套，沒有意識到其間的區別。 原因很簡單：雖然戰略的正式定義與它的希臘軍事起源都強調未來，但我們確實也需要用這個詞來解釋過去的行為，就像我們需要用它來描述未來的行為意向一樣。畢竟，戰略一方面是計劃和企圖的對象，另一方面也是貫徹和實現的對象。行為模式，或者我們稱作“已實現的戰略”，是對這個貫徹過程的解釋。而且，就像計劃不一定會產生一個模式一...
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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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...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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...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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...Running head: ASSIGNMENT #1 CRAFTING AND EXECUTING STRATEGY Assignment #1 Crafting and Executing Strategy Jet Blue Airways Strayer University BUS599016VA016-1116-001 Strategic Management July 11, 2011 Abstract This paper examines the business strategy of Jet Blue Airways. The paper will also examine strategic elements that provide the organization with a competitive advantage. The company’s competitive strategy and the impact of the trends in the U.S. airline industry will also be discussed. Assignment #1 Crafting and Executing Strategy Jet Blue Airways David Neeleman worked in the travel and airline industry before starting JetBlue. He was well versed in customer service. He learned from his grandfather as a teenager never to disappoint customers; satisfied customers would return. As a young man Neeleman also learned to be frugal (C-53). David Neeleman started JetBlue Airways as a company that would combine the low fares of a discount airline with the comforts of a den. Passengers would save money, consume gourmet snacks, sit on leather seats, and watch television. Many of JetBlue’s ideas came from Neeleman’s own personal experiences. He decided to add leather seats because he was once assigned a cloth seat that was soaked with urine. Leather seats were more durable and easier to clean. Individual monitors provided entertainment. He decided to provide 24-channel live television via satellite for free (C-53). On February 11, 2000, JetBlue’s...
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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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