...Introduction The focus of this paper is to look at a strategic management expert and determine what they have done for the area of strategic management. This paper will spotlight Igor Ansoff. Igor Ansoff (December 12, 1918 – July 14, 2002) was a Russian American, applied mathematician, and a business manager (Hussey, 1999). He is known as the father of Strategic management. This paper will detail Igor Ansoff’s contribution to the Strategic management world. Review Igor Ansoff was born in Russia in 1918 and his family emigrated to the United States of America in 1936. His early academic focus was on mathematics, and he obtained a PhD in applied mathematics from Brown University, Rhode Island. He joined the Rand Corporation in 1950, and moved on to Lockheed Aircraft Corporation, where he eventually became Vice-President, Plans and Programmers, and then Vice-President and General Manager of the Industrial Technology Division (Igor Ansoff, 2012). In 1963, Ansoff was appointed Professor of Industrial Administration at the Carnegie Institute of Technology in Pittsburgh. He went on to hold a number of positions in universities in both the United States and Europe. He continued to act as a consultant after retiring from academia in 2000 and, on his retirement, was named Distinguished Professor Emeritus at the United States International University (Igor Ansoff, 2012). Until the publication of Corporate Strategy, companies had little guidance on how to plan for, or make decisions...
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...is Igor Ansoff Igor Ansoff (1918-July 14, 2002) was an applied mathematician and business manager. He is known as the father of Strategic management. Igor Ansoff was born in Vladivostok, Russia, in 1918. He emigrated to the United States with his family and graduated from New York City's Stuyvesant High School in 1937. Ansoff studied General Engineering at the Stevens Institute of Technology and continued his education there, receiving his Master of Science degree in the Dynamics of Rigid Bodies. Following Stevens Institute, he studied at Brown University where he received a Doctorate in applied mathematics with a major in Mathematical Theory of Elasticity and Plasticity and a minor in Vibration. After coming to California he joined UCLA in the Senior Executive Program. He was a distinguished professor at United States International University (now Alliant International University) for 17 years, where several institutes continue his work in strategic management research. During World War II, he was a member of the U.S. Naval Reserve, and served as a liaison with the Russian Navy and as an instructor in physics at the U.S. Naval Academy. Professionally, Igor Ansoff is known worldwide for his research in three specific areas: • The concept of environmental turbulence; • The contingent strategic success paradigm, a concept that has been validated by numerous doctoral dissertations; • Real-time strategic management. To honor his body of work, the prestigious Igor Ansoff...
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...Strategic management is a field that involves the formulation and implementation of plans and policies that help an organization achieve its objectives. Strategic management as a professional field and discipline originated during the period of the half twentieth century, the 1950s with Igor Ansoff, Michael porter, Alfred Chandler and Henry Mintzeberg as the one of the main contributors in the development of the field of strategic management . During the 1950s, after the Second World War, academicians, researchers and practitioners basically paid very little attention to the practical concepts of strategy developed and embraced during the war. After normalcy and stability was achieved most business persons and investors started focusing and laying more emphasis on efficient and effective production in order to restore what was lost during the war. Consequently, production firms and organizations moved and shifted from an emphasis on operations, budgeting and controlling areas to more emphasis on planning aspects (Freeman, 2010). This arose as result of the dynamic environment that businesses were operating in and the urgent need for solutions which eventually demanded future planning taken at a larger perspective and view. This led to many businesses requiring the urgent need of having a corporate policy. With these, the seminar work of Chandler of 1962 placed and positioned the concept of strategy as a unique business function from marketing, sales, finance and production....
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...applied mediocre strategy, than a series of ad hoc brilliant strategies.” Introduction to strategic planning To achieve certain strategically valuable results, specific actions are required to be planned and acted upon by an organisation or an individual. What inputs are made by the management of an organisation define the expected outputs. Steiner, George A. (2010) in his book explains that strategic planning is indissolubly mixed with field of management these days and is not regarded as a separate process. Managers focus has largely shifted from ‘operations only’ to ‘strategize and operate’ philosophy (Steiner, 2010). However, organisations are in a state of dilemma over the concept of effective strategy implementation (Grimshaw, et al., 2004). Some believe in single strategical approach that is consistent with one pre-planned scheme which slowly adapts to the environment; is most effective, while others point of view is that; to survive in this competitive market environment one has to adopt to series of ad hoc brilliant strategies because it can provide their business cutting edge over the others (Pietersen, 2002). I believe that both the strategies has a role to play in achieving desired strategical outcomes. What is important is that they fit right in the current environment and are implemented in a risk free manner. Changes in theories of Strategic planning When strategic planning was modernised in 1950s, large scale companies were the ones that adopted it first (Godet...
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...EBJ 16.4 3rd 10/1/05 11:43 am Page 133 133 EUROPEAN BUSINESS JOURNAL The modern roots of strategic management Susan Segal-Horn The term ‘strategy’ is one of the most over-used, and poorly understood, terms in modern business and organisational life. The purpose of this article is to help practising managers understand better what strategy is about, how it has developed in the second half of the twentieth century from much earlier influences and the key contributions made by business schools, academics and consultants to the modern managerial practice of strategy. Strategic management has moved from a rational top-down planning approach, to strategic decision-making as a wider process involving all internal organisational stakeholders to ensure strategies are likely to be effectively implemented in practice. The recent rise of the resource-based approach to strategy helps us understand how two organisations with similar resources may nevertheless develop quite different levels of capability and performance. This article should help managers appreciate why no source of competitive advantage is likely to be sustainable over the longer-term. Introduction Susan Segal-Horn, Professor of International Strategy, Open University Business School This article is based on a revised version of the Introduction to S. Segal-Horn (ed.) The Strategy Reader (2004) 2nd edition, published by Blackwell Publishers, Oxford. Address for correspondence:...
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... |STRATEGIC MANAGEMENT-DEFINITION……………….… |2 | | |MINTZBERG’S DEFINITION OF STRATEGY……………….. |3 | | |KEY ISSUES OF STRATEGIC MANAGEMENT……………… |6 | | |PORTER’S THINKING…………………………………………. |7 | | |PORTER’S FIVE FORCES………………………………………. |9 | | |THE NEW STRATEGIC WAVE…………………………..…..… |12 | | |HENRY MINTZBERG' S 5 Ps FOR STRATEGY………..…… |17 | | |IMPORTANCE OF STRATEGY IN ORGANISATION………… |19 | | |THE STRATEGIC PLANNING PROCESS.................................... |20 | | |STRATEGIC MANAGEMENT: Failure, Barriers and Limitations |22 | | |IMPORTANCE OF STRATEGIC MANAGEMENT...
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...MBA 685 Corporate Strategy Strategic thinking What is strategic thinking? The term ‘strategic’ has become a much over-used word in business today. You may have observed that the term is increasingly attached to people’s job titles and is used to dignify roles and elevate the status of projects that might otherwise not be regarded as sufficiently important. The dilution of the term strategic is unfortunate because one of the key functions of general managers in all organisations is to engage in strategic thinking. Strategy has a long heritage. The word ‘strategy’ comes from the Greek word for generalship. This betrays the origins of strategy, which lie in the military. Indeed, long before companies were said to have strategies, strategy was a well-developed art within the military sphere. The first writer on strategy is generally held to be the Chinese philosopher, Sun Tzu, whose most popular work, The Art of War, is widely read to this day (Sun Tzu, 2005). In Sun Tzu’s view, the art of generalship was about outmanoeuvring your opponent, convincing them that you were strong in places where you were weak and, conversely, that you were weak in places where you were strong. It was about luring the opposition into a position of weakness before battle was engaged, so that even if you possessed weaker forces, you could overcome the enemy through guile and cunning. Military writers often make a distinction between strategic decisions and tactical decision-making...
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...Outcomes | | Assessment Criteria | 1. Identify and apply strategies to find appropriate solution | 1.11.2 | Explain strategic contextWhat are missions, visions, objectives, goals and core competenciesWhat are these for the business.Review the issues involved in strategic planning.Choose either Ansoff Matrix or Boston Matrix and apply it to your business. | | 1.3 | Explain different planning techniques.Look at the role of planning and the impact it has on managers/owners; Targets; when to plan; who should be involved in planning. | | | | 2. Be able to formulate a new Strategy | 2.1 | Produce an organisational audit for your chosen organisation.Choose either a resource audit or value chain analysis and apply it to your business. | | 2.2 | Carry out an environmental audit for your chosen organisation.Choose either PESTEL or Porters Five Forces analyses | | 2.3 | Explain the significance of stakeholder analyses.Who are your stakeholders, what is their relationship to the business and identify any patterns | 3. Understand approaches to strategy evaluation and selection | 3.1 | Analyse possible alternative strategies rating to substantive growth, limited growth or retrenchmentWhich of the following growth strategy would you consider for your business: organic growth; growth by merger/acquisition; strategic alliance; licensing; franchising; horizontal and vertical integration or diversification | | 3.2 | | | 3.3 | | | 3.4 | | 4. Obtain funds for an...
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...STRATEGY MANAGEMENT MGT 6303, ASSIGNMENT 2 EXECUTIVE SUMMARY Aviation industry is a highly competitive market, airlines needs to develop or possess good resources and capabilities to set a threshold among the industry. The airline that sets a new wave will gain the limitless opportunity as the game setter and industry’s leader. AirAsia is a Low Cost Carrier that has won many awards and global reputation. They had learned the importance to innovate good employee relations as employees are the heart and soul of the company. This assignment elaborates how AirAsia was analysed under Ansoff Matrix and many of their marketing alliances through vertical or horizontal links. AirAsia has coordinated well in IT systems that enable them to conduct many marketing strategy through partnerships with travel agencies, hotels, telecommunications and other airlines. AirAsia has looked into the traditional interline to code sharing and now into cross-border mergers. AirAsia is a very successful airline that has stayed true to its initial slogan of “Now Everyone Can Fly”. With just less than 15 years, AirAsia has gone from a heavily indebted company to becoming a World’s Best Low Cost Airline. 1 ERICA DIANA JEREMIAH (01130102), STRATEGY MANAGEMENT MGT 6303, ASSIGNMENT 2 TABLE OF CONTENTS Page Executive Summary 1 Table of Contents 2 Ansoff Matrix Analysis 3-5 Internal Development 6-7 Merger & Acquisitions 8 Joint Development/ strategic alliances ...
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...of orientations in the organization’s marketing philosophy. 2. Discuss how the theory behind strategic marketing planning models can be used in the formulation of the organization’s marketing strategy. 3. Identify and critically evaluate possible opportunities for growth within the organization’s macro environment. Programme Name Master of Science in Marketing with Festival and Event Management Module and Module Number MKT11908 - Principle & Practice of Marketing Name and Matriculation Number Choi Pang Fung Oscar (40190237) Submission date 14 July 2015 (3,048 words) Content i. Study Objective P.3 ii. Bandai’s Company Background and Mission P.3 iii. Combination of Orientation in Bandai’s Marketing Philosophies P.4 iv. Strategic Marketing Models and Marketing Strategy of Bandai P.6 1. Ansoff Matrix P.6 2. BCG Matrix P.8 v. Possible Growth Opportunities within Macro Environment / Recommendation P.11 vi. Conclusion P.13 Reference P.14 Bibliography P.15 i. Study Objective This paper examines how Bandai Co., Ltd. implements a combination of Marketing and Product Orientation in its marketing philosophy. Then the formulation of their strategic marketing approaches will be assessed using Ansoff Matrix and BCG Matrix. The last section will evaluate potential opportunities for Bandai’s business...
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...PROPOSAL FOR Ph.D. THESIS Area of Study MANAGEMENT IN THE LOCAL GOVERNMENT Proposed Title: FACTORS RELATED WITH THE IMPLEMENTATION OF MAINTAINING AND DEVELOPING COMPETENCIES IN THE MANAGEMENT OF HUMAN CAPITAL IN NEWLY ELECTED OFFICIALS IN LOCAL AUTHORITIES IN GREATER LONDON 1. Introduction: A new term for managing employment is Human Resource (HR) has gained rapid and widespread acceptance in worldwide. But still there is some ambiguity remains in between HR and traditional Personnel management. HRM’s main principle is “our human resources are our most important asset”. Others emphasize that it is all about matching employment practices to an organization’s strategy. Since the mid- 1980s, HRM has become very popular in the UK- in job titles, in conference programmes, in business courses in universities and colleges, and in the titles of lecturer posts, although the field of HRM is still in the process of forming (Hendry C., 1995). HRM is the role within an organization that spotlights on staffing of, management of, and given that direction for the people who occupied in the organization. The United States appears to be strewn with evidence of managerial failure. Whole industries – autos, steel, consumer electronics and others – have decreased victim to more aggressive, more efficient overseas competitors. The American economy is afflicted with stagnating productivity, high unemployment and the debilitating...
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...Every business owner wants to grow their business but it is often difficult to determine the best way forward. Here is a straightforward description of four different growth strategies and an explanation of how to determine which is best for your business. Igor Ansoff suggested that business owners’ ability to grow their businesses comes down to how they market new or existing products in new or existing markets. He outlines four distinct strategies: - Market Penetration – selling more of the same things to more of the same customers - Market Development – selling more of the same things to different customers - Product Development – selling new products or services to the same customers - Diversification – selling new products or services to different customers Using Ansoff’s matrix, business owners can evaluate each of the growth strategies in turn to assess which is likely to result in the best possible return. Market Penetration Market penetration is the easiest way to grow in an expanding market. However, it becomes more difficult as the market matures and competition increases. The obvious step is to increase advertising or add more sales people to increase sales. Alternatively, business owners can win business from competitors through competitive pricing, discounting, vouchers or other offers. Business owners can also boost sales by providing additional incentives to sales staff through commissions, bonuses or other reward schemes or by introducing customer loyalty...
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...corporation that pursues profits through a range of businesses in unrelated industries. Textron has four core business segments: * Aircraft - 32% of revenues * Automotive - 25% of revenues * Industrial - 39% of revenues * Finance - 4% of revenues. While the corporation must manage its portfolio of businesses to grow and survive, the success of a diversified firm depends upon its ability to manage each of its product lines. While there is no single competitor to Textron, we can talk about the competitors and strategy of each of its business units. In the finance business segment, for example, the chief rivals are major banks providing commercial financing. Many managers consider the business level to be the proper focus for strategic planning. Corporate Level Strategy Corporate level strategy fundamentally is...
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...Ansoff’s Matrix Lowest Risk Highest Risk Medium Risk Medium Risk Marketing Management Presented to Dr. Ashraf Talaat Prepared by Fady Wahba (Group 50H) Ansoff Matrix: The Ansoff Matrix was developed and named after Russian American H. Igor Ansoff and first published in the Harvard Business Review in 1957, in an article titled "Strategies for Diversification". It has given generations of marketers and business leaders a quick and simple way to think about the risks of growth. Sometimes called the Product/Market Expansion Grid, the Matrix shows four strategies you can use to grow. It also helps you analyze the risks associated with each one. The idea is that, each time you move into a new quadrant (horizontally or vertically), risk increases. The Ansoff Matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future growth. Growth Strategies: Ansoff, in his 1957 paper, provided a definition for product-market strategy as "a joint statement of a product line and the corresponding set of missions which the products are designed to fulfill". He describes four growth alternatives: 1 Market penetration: In market penetration strategy, the organization tries to grow using its existing offerings (products and services) in existing markets. In other words, it tries to increase its market share in current market scenario. This involves increasing market share...
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