...it important for a firm to study and understand its internal environment? It is important to study and understand the internal environment because it will help the management identify the entity’s strengths, weaknesses, opportunities, and threats. The entity may use its’ strengths and foreseen opportunities to be more efficient and effective in competing with others whether it is inside or outside the industry. The entity may also either avoid or reduce the impact from weaknesses and threat and utilize these to improve the entity itself. Studying and understanding the internal environment may also yield the entity’s objectives. After reflecting the entity’s SWOT, the top management will be able to set both short-term and long-term objectives and goals along with which should be done first and which will be the most beneficial to the entity. Lastly, a sound internal environment is one of the greatest factors for an entity to continue in its operations. Like a human, it can do task effectively and efficiently if it’s fully functional, organized, and planned inside and as a whole. 2. What is value? Why is it critical for the firm to create value? How does it do so? Value, according to Merriam-Webster’s Dictionary, is the relative worth, utility, or importance of something. It is measured by a product‘s performance characteristics and by its attributes for which customers are willing to pay. Creating or assigning value to an activity or to an aspect of the entity is important...
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...includes the beliefs, values, attitudes, and expectations for behavior that the society believes to be good, effective, desirable and beneficial. Organizations have unique culture even though they belong to the same industry. In this case, 5 Star Electronics and Amtech Electronics have different cultures even though both of these organizations belong to Electronics Industry and are in same state, Ohio. The leadership style of the organization decides the culture. Culture is the environment that surrounds you at work. Culture is also shapes your work environment along with your work relationships. The organizational culture can be identified by using the four variables which are Flexibility, Internal Focus, External Focus and Stability. The four variables are used to state the culture of a given organization. The basic types of corporate cultures are along with the dimensions are listed in the below table: Type of Corporate Culture Dimensions Clan Culture Flexibility, Internal Focus Bureaucratic Culture Internal Focus, Stability Adaptability Culture Flexibility, External Focus Achievement Culture Stability, External Focus The present discussion is to understand the corporate culture of 5 Star Electronics and Amtech Electronics using the above dimensions. Corporate Culture of 5 Star and Amtech Questions 1Q. Using the competing values model, what type of culture would you say dominant as 5 Star? At Ametech? What is your evidence? A: The competing value model is used to identify...
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...Staffing Strategies for Tanglewood Staffing Quantity and Staffing Quality Yu Gao Yuting Dai Xiaoman Hu Yuzhu Guo Jan, 15, 2013 Yu Gao Yuting Dai Xiaoman Hu Yuzhu Guo Jan, 15, 2013 Memo To: Daryl Perrone, Staffing Services Director Marilyn Gonzalez, Vice President of Human Resource Department From: Yu Gao, Staffing Services Consultant Xiaoman Hu, Staffing Services Consultant Yuting Dai, Staffing Services Consultant Yuzhu Guo, Staffing Services Consultant Date: January 15, 2013 Subject: Staffing Strategies for Tanglewood Tanglewood is facing a big change in staffing strategy, considering the company’s plans for expansion. In this report, we analyze the company’s situation, concentrate on staffing quantity and staffing quality strategies and give a general recommendation on a series of strategic staffing decisions. Staffing Quantity Acquire or Develop Talent Acquire refers to acquire new employees who can “hit the ground running” and be at peak performance the moment they arrive. These employees would bring their talents with them to the job, with little or no need for training or development. A pure development strategy would lead to acquisition of just about anyone who is willing and able to learn the KSAOs (KSAOs is used to describe person’s qualifications that needed to perform the job. It refers to Knowledge, Skill, Ability...
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...Criteria for Effective Writing (80 Point Breakdown) Content (30) Content is excellent, completely consistent and appropriate for audience and purpose; contains excellent internal integrity (15) *Content is good and usually consistent and appropriate for audience, purpose, and medium; contains some internal integrity (12) Content is minimally effective, inconsistent or inappropriate for audience, purpose, or medium; contains minimal internal integrity (9) Content does not meet requirements for purpose or audience (0) Organization (15) ________/15 Organization is excellent; ideas are clear and arranged logically and the transitions are smooth(10) *Organization is good; ideas are usually clear and arranged in an acceptable sequence; transitions are usually smooth and effective; (8) Organization is minimally effective; problems in approach, sequence, support, or transitions (6) Organization does not meet requirements for purpose or audience (0) Design and Format (10) _________/10 Document format is excellent, with strong visual impact, design, and format (5) *Document format is good, showing effective visual impact and format (4) Document format meets some formatting requirements (3) Document format does not meet requirements for purpose or audience (0) Style and Readability (10) ________/10 Readability is excellent, containing strong attention to audience, appropriate tone...
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...results. Achievement culture is a type of culture that sets a clear vision and goals. Leaders also focus on specific targets and goals of the company. This culture is all about results making sure everything is very transparent so everyone knows where they stand and what they need to do to reach weekly, monthly, and yearly goals. In this culture the top management gives anything and everything employees need to motivate them to work hard enough to make sure they get to results they need. The next one is clan culture which is a culture that looks for the internal focus on the participation and contribution of the employees to meet the changing outlooks from the external focus. These companies are more like a family and have a very friendly environment. The philosophy for companies like this are more focused on making sure the employees are happy and can bring in the results. The last one is bureaucratic culture which has an internal focus for a stable culture. Everything is very orderly and efficient in that there is a certain time for breaks, and a dress code everyone must follow. This is more of a strict business professional environment, a place where you wouldn’t get away with much. Following the rules is very important! My company follows the clan culture they always make sure every month there are employee activities and they try really hard to engage everyone and treat everyone like a family. They also have employee appreciation day twice a year where employees get to participate...
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...corporate financial performance. ▪ Corporate citizenship is an important driver for building trust, attracting and retaining employees, and obtaining a “license to operate” within a community. ▪ Corporate citizenship is much more than charitable donations and public relations—it’s the way the company integrates sustainability principles with everyday business operations and policies and then translates all of this into bottom-line results. ▪ For sustainability to be long lasting and useful, it must be representative of and integrated into day-to-day corporate activities and corporate performance. ▪ If sustainability is seen only as an attempt to provide effective public relations, it does not create long-term value and can even be a value destroyer. ▪ The key to success is integrating sustainability into business decisions, identifying, measuring, and reporting (both...
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...corporate financial performance. ▪ Corporate citizenship is an important driver for building trust, attracting and retaining employees, and obtaining a “license to operate” within a community. ▪ Corporate citizenship is much more than charitable donations and public relations—it’s the way the company integrates sustainability principles with everyday business operations and policies and then translates all of this into bottom-line results. ▪ For sustainability to be long lasting and useful, it must be representative of and integrated into day-to-day corporate activities and corporate performance. ▪ If sustainability is seen only as an attempt to provide effective public relations, it does not create long-term value and can even be a value destroyer. ▪ The key to success is integrating sustainability into business decisions, identifying, measuring, and reporting (both...
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...the senior management culture. Clan Culture focus on the involvement and participation of employees. However, because Mr. Ramsey publishes anyone who against his view, employees do not share their opinion freely. Moreover, Clan Culture needs leader to take care of employees. However, Mr Ramsey keeps humiliating Briggs in the public and hopes Briggs to resign. It causes Briggs’ death in the end of movie. Therefore, Clan Culture is the least describes the senior management culture. Dominant Values, Beliefs, Behaviors and Assumptions: In Organizational culture, domain value is very important. In Ramsey Company, although Briggs believes that the good will about taking care of employees is the most important, Mr. Ramsey does no think of that. Mr. Ramsey says that, Briggs’ view is also his father’s view. However, this view is out of date. As the leader of company, Mr. Ramsey believes that they should take sales growth as the dominant values. He says that, “the business cannot be run by ‘thank you’” and “this company belongs to us only because we can keep producing”. It makes sense. Because if they cannot make profit, they will no be able to take care of those employees. Moreover, because the recent external environment,...
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...Chapter 6 – Organisational Culture Assessment Instrument (OCAI) 6.1 Competing Values Framework The Organisational Culture Assessment Instrument (OCAI) is based upon the Competing Values Framework. An average count of around 40 dimensions return regularly in management literature, essays and courses about organisational culture. For example: strength, congruence, strong, weak, speed of feedback, degree of risk-taking, people orientation, response to the environment, clarity, direction, conflict resolution, performance emphasis, and human resources. All these phrases are divided in 4 quadrants by • Horizontally: left: internal focus and integration to right: external focus and differentiation. • Vertically: top: flexibility and discretion to bottom: stability and control. This framework is called the Competing Values Framework and is used as a basis for many methods and theories. For example the Competing Values of Total Quality Management32 are shown below: Total Quality Management (TQM) is one of the most applied organisational change methods in the last two decades. It is focused on increasing an organisations’ effectiveness by setting quality objectives. The number of successful implementations of TQM is not sky-high, Cameron and Quinn derived from TQM literature that this has mainly two causes33: 1. only partial deployment; 2. failure to integrate TQM and culture change. Each quadrant is named after its most recognisable characteristics: Family or Clan, Adhocracy,...
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...doesn’t qualify as network. From left to right: Market: “buy”. Network: jv, licensing, outsourcing, equity share, contractual cooperation, joint R&D. Hierarchy: “make” From left to right: Market: “buy”. Network: jv, licensing, outsourcing, equity share, contractual cooperation, joint R&D. Hierarchy: “make” Types of Networks: X & Y: X: Alliances between partners with complementary skills/strengths “closing the gap”. Y: Alliances between partners with mutually reinforcing resources/skills/competences “critical mass alliance”; by joining forces you reach a critical mass. Horizontal, vertical & lateral cooperation: Horizontal: Companies within the same position of the value chain cooperate (e.g. alliance between airlines) Vertical: companies from different positions within the value chain cooperate (eg. Buyer supplier relationships along the supply chain) Lateral: across industries, different players from different industries. Stable & Dinamic: Stable: platform for cooperation. Dinamic: project-based. Virtual factory: dynamic, order processing. Competition: Networks compete to each other; network is the compeititive Unit. Network main characteristics:...
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...The Leadership Quarterly 12 (2001) 133 ± 152 Leadership, values, and subordinate self-concepts Robert G. Lorda,*, Douglas J. Brownb a Department of Psychology, University of Akron, Akron, OH 44325-4301, USA b University of Waterloo, Waterloo, Ontario, Canada Abstract This article discusses two means by which leaders can impact on subordinate self-regulatory processes Ð making particular patterns of values salient and activating specific subordinate selfconcepts. Research indicating compatible structures among values and self-identities is discussed, and it is suggested that such structures are automatically related by networks of mutual activation or inhibition. The potential of this framework for advancing leadership practice and research is also discussed. D 2001 Elsevier Science Inc. All rights reserved. 1. Introduction Most definitions of leadership share the common assumption that leaders influence subordinate's task and social behaviors (Yukl, 1992). However, the leadership literature, in general, has paid little attention to understanding the intervening mechanisms by which leaders influence followers. Instead, much of the research has focused on the relationship between a leader's behavior or traits and subordinates' satisfaction, behavior, and performance (Lord & Maher, 1991). In the present paper, we attempt to partially bridge this gap by focusing on two key intervening mechanisms Ð values and self-concepts Ð that link leader characteristics and important...
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...Cultural competence is a term used to describe a set of skills, principles, and values that acknowledge, respect and work near perfect interactions between the individual and the various cultural and ethnic groups(cite). There are four key components in maintaining a high level of Cultural Competency. Those components are awareness, attitude, knowledge, and skills. Awareness. The awareness of one’s own individual biases and reactions to people who are of certain cultures or backgrounds different from one’s origin. The only way to work towards other aspects of Cultural Competency must begin with being aware of one’s internal biases(cite). Attitude. The importance of attitude in cultural competence is separate the difference between of being...
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...fundamental value. How did HP use this cash flow? HP invested for the future by making over $11 billion in acquisitions. Other companies also generated large cash flows from operations in 2008, but they used the money differently. For example, Walgreens generated over $3 billion from its operations and used over $2 billion for capital expenditures, much of it on new stores and the purchase of worksite health centers. Procter & Gamble generated $15.8 billion. P&G made relatively small capital expenditures (abut $3 billion) and returned the lion’s share (over $12 billion) to shareholders as dividends or through stock repurchases. Apple generated about $9.6 billion (up from $5.5 billion the previous year) but made relatively small capital expenditures, acquisitions, or distributions to shareholders. Instead, it put about $9.1 billion into short-term financial securities like T-bills. These four well-managed companies used their operating cash flows in four different ways: HP made acquisitions, Walgreens spent on a mix of internal and external growth, P&G returned cash to shareholders, and Apple saved for a rainy day. Which company made the right choice? Only time will tell, but keep these companies and their different cash flow strategies in mind as you read this chapter. Intrinsic Value, Free Cash Flow, and Financial Statements In Chapter 1, we told you that managers should strive to make their firms more valuable and that the intrinsic value of a firm...
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...Topic 1: Analysing the external environment Strategy – direction and scope of an organisation over a long term, which achieves the advantage of changing environment through its configuration of resources and competencies with the aim of fulfilling stakeholder expectations. Direction – Mission, vision, and course Scope – broad or narrow strategy Long term – 5-10years Environment – General environment & industry environment Resources – tangible and intangible Capabilities – capacity of organisation to integrate and deploy resources to achieve an obj. Stakeholders – society, suppliers, creditors, shareholders, employees, customers Levels of strategy * Corporate * Business General environment (Macro) – broad collection of factors that directly or indirectly have the potential to influence every firm in ever industry within the economy PESTDG framework * Identify trends * Explain trends * State if opportunity or threat * Explain why is it an opportunity or threat Segment | Trends | Political / Legal | Changes to workplace relations, carbon tax law | Economical | Rising interest rates, GFC, inflation rate, unemployment rate | Socio-cultural | Climate change, increase in casual workers, greater concern for health | Technological | Wireless communications, cloud computing, growth in hand held devices | Demographical | Aging population, growing disparity in income level | Global | Growth in Chinese and Indian economy, free...
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...new economy, people have to deal with changes within the companies they work for, because that is the only way to be successful. External factors that force changes within a company can be: * Competition: competitors do things in a better way and steal market shares. * Globalization, that connect different markets, also involving cultural exchange. It also increases competition. * Technology innovation, an ever-changing process in the world today Internal factors can be: * Having to deal with diversity and minorities. A challenge for any company, especially the ones with a global presence * Ethics, values and mission. * Reorganization due to workload and change in resources (like budget) Employees resist change for various reasons: * The fear of failing, which commonly happens in top-down changes, due to poor implementation. People do not feel like they are part of the program and they are not committed to implement plans. The fear of the unknown, that could threat something seen as a value. And then the fear of having to change old habits, which brings the feeling of losing control. * Employees might not be ready for the change, the system might not be prepared and people are not open to doing things differently, unless they recognize a problem and a sense of urgency. * Managers do not always listen to their subordinates and theirs issues with changes. This increases resistance because people feel like they have to defend something important...
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