...business industry. An environmental scan is an examination of the internal and external environment of the organization. It is necessary to conduct an environmental scan in order to determine the organization’s goals and what steps to take to reach those goals. Environment scanning is processed to determine development and forecasts of elements that will influence the success of the business. According to an article by (Environmental Scanning - Internal & External Analysis of Environment, 2013). Environmental scanning refers to possession and utilization of information about occasions, patterns, trends, and relationships within an organization’s internal and external environment. Organizations can identify any competitive advantages with an environmental scan. The environmental scan can also help guide in creating a business strategy in which it will help add value to the company and overcome competition by identifying opportunities and minimizing threats. Internal and External Environments Organizations should focus first on the internal analysis of the environment. Internal scan involves observation of teams, employee interaction, brand awareness, organizational structure, operations, training, etc. The internal analysis helps to identify strengths and weaknesses of an organization. Internal factors can be controlled by the business; some factors include business image, reputation, management structure, staff, brand etc. Competition is big, especially in a fast pace environment...
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...MGT/498 Final Examination Study Guide This study guide will prepare you for the Final Examination you will complete in the final week. It contains practice questions, which are related to each week’s objectives. In addition, refer to each week’s readings and your student guide as study references for the Final Examination. Week One: Strategic Overview, Ethics, and Legal Environment Objective: Indicate why a strategic management process is needed. 1. Research of the planning practices of companies in the oil industry concludes that the real value of modern strategic planning is more a. in the planning b. in the strategic thinking and organizational learning c. in the resulting written strategic plan d. in the formality of the process e. in the improved communication within the organization Objective: Describe the primary components of the strategic management process. 2. The time horizon involved with regard to basic financial planning is usually a. one year b. one quarter c. more than five years d. less than one month e. more than three years 3. A difference between basic financial planning and forecast-based planning is a. the time horizon is shorter in forecast-based planning b. forecast-based planning incorporates internal and external information c. basic financial planning utilizes consultants with sophisticated techniques d. basic financial planning utilizes scenarios and contingency strategies ...
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...eleven thousand in 1984 to just over seven thousand in 2006. The average profitability of the largest banks grew to outstrip the profitability of the industry’s smallest banks; an outcome traceable to increased competition from bank and nonbank financial firms, new technology that reduced the advantage of banks having a local presence, and the development of services that could be offered over wider geographic areas (www.mheducation.com). A new type of financial-services holding company (FHC) was created in 1999 as a result of passage of the Gramm-Leach-Bliley (GLB) Act. Provided these entities hold strong capital positions and possess sound management, they are permitted to bring together under the same corporate umbrella, commercial banks, investment banks, insurance companies, and selected other affiliated companies that are “financial in nature” and “compatible” with banking (www.mheducation.com). The FHCs come closest to mirroring the organizational structures and service menus of leading European banks, such as Deutsche Bank AG of Frankfurt and HSBC Holdings based in London, by offering the broadest array of services of any financial-services provider (www.mheducation.com). With joint approval of the U.S. Treasury Department and the Federal Reserve Board the menu of services FHCs can offer may be expanded in the future. As the twenty-first century unfolded almost six hundred and fifty holding companies selling services in the United States, including both domestic and...
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...A joint venture is a partnership or alliance among two or more businesses or organizations based on shared expertise or resources to achieve a particular goal.1 There are many good business reasons to participate in a joint venture partnering with a business that has complementary abilities and resources, such as finance, distribution channels, or technology, makes good sense. These are just some of the reasons partnerships formed by joint venture are becoming increasingly popular. A joint venture is also considered a strategic alliance between two or more individuals or entities to engage in a specific project or undertaking. Partnerships and joint ventures can be similar but in fact can have significantly different implications for those involved. A partnership usually involves a continuing, long-term business relationship, whereas a joint venture is based on a single business project. Parties enter joint ventures to gain individual benefits, usually a share of the project objective. This may be to develop a product or intellectual property rather than joint or collective profits, as is the case with a general or limited partnership. A joint venture isn’t like a general partnership; it’s not a separate legal entity. Revenues, expenses and asset ownership usually flow through the joint venture to the participants, since the joint venture itself has no legal status. Once the joint venture has met its goals the entity ceases to exist. Being a part of a joint venture has its...
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...24,1 The fundamentals of standardizing global marketing strategy Nanda K. Viswanathan Delaware State University, Dover, Delaware, USA, and 46 Received February 2004 Revised February 2006 Accepted February 2006 Peter R. Dickson Florida International University, Miami, Florida, USA Abstract Purpose – To examine issues of standardization and adaptation in global marketing strategy and to explain the dynamics of standardization. Design/methodology/approach – This is a conceptual research paper that has been developed based on gaps in prior frameworks of standardization/adaptation. A three-factor model of standardization/adaptation of global marketing strategy was developed. The three factors include homogeneity of customer response to the marketing mix, transferability of competitive advantage, and similarities in the degree of economic freedom. Findings – The model through the use of feedback effects explains the dynamics of standardization. Research limitations/implications – Future research needs to empirically test the model. To enable empirical validation, reliable and valid measures of the three factors proposed in the model need to be developed. Additionally, the model may be used in future research to delineate the impact a variable may have on the ability of a firm to follow a standardized global marketing strategy. Practical implications – The three-factor model aids decisions relating to standardization in a global marketing context. Originality/value – The...
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...STRATEGIC CHOICE AND EVALUATION PAPER Strategic Choice and Evaluation Paper Strategic, Planning, and Implementation/STR-581 Instructor: Sidney Morse April 09, 2012 According to www.wellsfargo.com, “Wells Fargo and Company is a diversified financial services company that provides banking, insurance, investments, mortgages, consumer, and commercial financial services through more than 9,000 stores and 12, 211 ATMs and the Internet across the United States and Internationally. Wells Fargo is ranked fourth in assets and first in market value among their U.S competitors. The company’s vision is to satisfy all their customer’s financial needs and help them succeed financially (www.wellsfargo.com, 2012).” Strategic choices concern the “decisions about an organization’s future and the way in which it needs to respond to pressures and influences” (Farid, and Flynn, 2000). Strategic choice is a part of the strategic planning process that involves identifying and evaluating alternatives that leads to future opportunities. A good strategic choice has to be challenging enough to keep ahead of competitors but also achievable for the company (Farid, and Flynn, 2000). In this paper I will identify and evaluate my target firm Wells Fargo best strategic choices and alternatives the firm must consider to realize growth and opportunity. Value discipline Value discipline is an alternative approach to generic strategy. This alternative focus on delivering superior customer value...
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...COURSE AND SUBJECT GUIDE POSTGRADUATE MANAGEMENT PROGRAMS 2010 The information contained in this Course and Subject Guide: • • is current only at the date it is published and Melbourne Business School is under no obligation to update the information or correct any inaccuracy which may become apparent at a later date; and is not intended to provide or make recommendation on which you should rely. Melbourne Business School reserves the right to change course content, lecturers, course time, examination procedures and other course details. To the extent permitted by law, Melbourne Business School specifically excludes any liability for any error or inaccuracy in, or omissions from, the information in this Guide and any loss or damage which you or any person may suffer. Last updated: 12 March 2010 1 2 MELBOURNE BUSINESS SCHOOL 2010 ACADEMIC CALENDAR ___________________________________________________________________ TERM 1 Thursday Monday Tuesday 14 January 18 January 26 January Orientation Evening – Weekend Mode and Standard Part Time World of Management Weekend Mode and Part Time (until Friday 22 January) Australia Day Academic School Holiday Carlton Campus on Sunday operations Monday Thursday Friday Monday Thursday Friday Friday Thursday Friday Sunday 9 February 18 February 26 February 8 March 18 March 19 March 2 April 15 April 16 April 25 April Commencement Term 1 Teaching (standard 12-week format subjects) Weekend Mode – Module 1a (until...
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...acquisition and sharing are prerequisites for attaining competitive edge; it is argued above that essentially, organizations operating within a competitive business environment undertake greater knowledge acquisition and sharing through a wider set of learning orientations. There are two paths by which firms can use knowledge to create and sustain its competitive advantage. Firstly, firms can act internally to spread knowledge that other firms will find almost impossible to imitate, which is referred to as tacit knowledge. Secondly, firms can create superior knowledge management capacity, and in so, doing foster competitiveness. This research analyzes how tacit knowledge and exceptional knowledge management in SMEs can be the basis of sustained competitive advantage in the contemporary...
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...Executive Summary Nike manufactures and markets sports apparel and equipment on a global scale. They operate in 160 different countries, and have revenues of $18.6 billion. Yet, they are a growth company. Without any significant acquisition, they have consistently grown revenues and profits over the past several years by shifting emphasis on brands they own in growth sectors. Nike’s marketing strategy revolved around two concepts – premium positioning and everyone with a body is an athlete. These concepts drive their strategies, including endorsements from the world’s most popular athletes, and the development of products for both the serious athlete and the mass market. Financially, Nike is strong. They are liquid and are on a steady growth trajectory. They are, however, underleveraged. The company derives significant strength from its global production and logistics network. Despite this, the company faces many threats, both competitive and economic. Nike is well-positioned to defend against these threats. Their move into growth sectors of the market shows savvy. It is recommended that their convoluted organizational structure to reduce operational duplication. They should also adjust their capital structure to make it more efficient. It may also be time for Nike to make a major acquisition, capitalizing on slumping equity markets to strengthen their defenses against economic downturn and competitive threats. If Nike is able to make these adjustments and strategic...
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...Introduction Mondelēz International, Inc. is an American multinational confectionery, food and beverage conglomerate, with global net revenues of $35 billion in 2013, employing around 107,000 people,manufacturing and marketing delicious food and beverage products for consumers in approximately 165 countries around the world. It comprises the global snack and food brands of the former Kraft Foods including in cookies and crackers, chocolate, and gum and candy . Industry analysis According to Robert Grant Contemporary Strategy Analysis 7th edition, the median ROE, which reflects the profitability of a specific industry, illustrate the food production industry in the US has the rate of return on common stockholders’ equity at 6.5% from 1999 to 2007. Thus, its ROE sheds a light on food production’s relatively lower profitability comparing to real estate or investment banking industry. However, since the ROE is fairly tricky as high liability can also cause higher ROE, Porter’s 5 forces model is, for lack of better word, the best way to analysis the food production industry. In the following paragraphs, dissecting the suppliers, buyers, substitutes, potential entrants, and how they combining together inter-playing with the industry competitors that determines the profitability of food production industry that Mondelez is in would be devoted to business. First of all, as for potential entrants, the start up company has always been the main force in potential entrants...
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...because only it had commercially viable iron and coal deposits, and only it could control Montreal fuel resources. Why then, did the end of an era dominated by manufacturing lead to an economic stagnation that left a permanent imprint over the course of the century? Over the years, historians and economists alike have deemed a variety of factors as accountable for the general economic backwardness that prevailed. While some of these academic research pose contradictions amongst themselves, the general proposition is that the phenomenon was driven by a mixture of social economic rationalization, political incentives, and geographically inherent conditions. To shed more in-depth light on the analysis of the Maritime experience, a preliminary examination is required on the various proposals of when the downturn started. These different arguments on timing serve as...
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...STRATEGIC PLAN (20142019) School of Business and EconomicsMoi University The global business school of choice; excellent in education, research and innovation Submitted by: NAME: KIMANI ABRAHAM KAMAU REGISTRATION NUMBER: BBM/2614/12 COURSE: Business Policy& Strategy (BBM 472) INSTRUCTOR: DR. MUGAMBI 12/24/2013 Contents LIST OF FIGURES AND TABLES .................................................................................................................. 3 TABLES ................................................................................................................................................ 3 FIGURES .............................................................................................................................................. 3 EXECUTIVE SUMMARY ............................................................................................................................. 4 VISION..................................................................................................................................................... 5 MISSION .................................................................................................................................................. 5 CORE VALUES .......................................................................................................................................... 5 CHAPTER ONE ...............................................................................
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...GLOBALIZATION The world today has been described as a ‘global village’, this stems from Marshall Mc Luhan’s concept that ‘the globe has been contracted into a village by electric technology and the instantaneous movement of information from every quarter to every point at the same time’. A closer examination of globalization will indicate that indeed the barriers of space, time and borders which once existed have now disappeared or are disappearing. Globalization has been described as the rapid increase in cross-border economic, social, technological exchange under conditions of capitalism, which also, influences all spheres of our life: culture, business, trade, politics, environment and even our mentality. It connects different countries and makes their interaction easier. The globalization of the world economy is reflected in many ways. The General Agreement on Tariffs and Trade (GATT) simulates free trade between countries which allows firms to trade more easily and move around the world. A result of this increased mobility is the increasingly large scope of money and capital markets and general regulations on Foreign Direct Investment (FDI). Globalization implies that there are forces that are global, objective and universal which restrict not only diversity, but also the scope for national governments’ policy formulations. An example of this, are the conditions of the IMF loan to the British Labour government in 1976 which led to a greater role for the private...
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...Introduction In Dec 2010, China airlines Ltd, announced that it had recorded sales revenues of 138.14 Million dollar as for flights carrying people. The company’s Sales Revenue increased by 41 % from Dec 2009 in which the company had achieved 98 Million Dollars. This increase was followed after the company’s announcement in January 2010 that its recorded Sales reached an amount of 358 Million dollars in Dec 2009 including civil and cargo services. These numbers show a huge deficit in the total revenue of flights carrying civilians where the main source of profitability was based and focused on Cargo flights services. Still CAL, China airlines Ltd, didn’t complete its Mission well in terms of increasing profitability and developing its services in order to boost its revenues. Still Civil flights consider covering 38% of the company’s recorded sales. In our paper we stated the company’s Vision, Mission, and Objectives in order to state a plan for developing the company’s civil flights using an edited Business Model. CAL’s problem was in its high costs among competitors who used the LCC (low cost control) in their business in order to create a competitive advantage. In our paper we edited the company’s business model in which we entered some of LCC programs that may attract more customers and compete strongly with competitors. For that CAL developed its systems to be number one leading systems among other airlines especially those in emerging markets such as Mainland china. We...
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...Critical issues concerning management method through Corporate culture Topic 2: Corporate Culture is the attempt to manage the values and emotions of employees so as to align them with the goals of the organisation. What might be difficult and questionable about such an attempt to manage employees? Introduction As it is realized by more and more people, especially executive managers and researchers, corporate culture plays a crucial role in the success of an organization. For many companies that have gained exclusively high fame, exposure and wealth, organizational culture is moreover an invisible property owned by the company. From 1970s, people began to understand the high competition from Japanese industry with unique corporate cultural background. Companies in America were found to behave very much like what happened in Japan (Parker 2000). It is usually known that a strong and positive corporate culture is a true asset under the perspective of economic and accounting. Although its advantages have been identified for decades, difficulties in how to utilize, develop and manage corporate culture remain to be uncertain. In this essay, the argument will be illustrated in three sections. The definition and significance of corporate culture will be introduced in the first section in detail. After that, deficiency of managing corporate culture will be discussed in separated two sections. The first section will talk about difficulties in developing and defining an appropriate...
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