...Week 3 Knowledge Check Study Guide Concepts Mastery Areas in which people are Score: 20 / 21 Questions 100% 1 2 3 100% 4 5 6 Strategic planning 100% 7 8 9 Levels of planning 67% 10 11 12 The creative process 100% 13 14 15 100% 16 17 18 100% 19 20 21 creative Ingredients for enhancing innovation at work and approaches to innovation Obstacles to corporate innovation Barriers to effective decision making Concept: Areas in which people are creative Mastery 100% Questions 1 2 3 1. Ramona, a member of the innovation team at Buzzer Co., a beer manufacturing company, suggests that the company use the spent grain generated through the process of beer manufacturing to create commercial products. Ramona explains how the wasted grain can be broken down through the process of fermentation to generate biogas and compounds that can be used to make personal care products and clothes. In the context of William Miller's research, into which area is Ramona channeling her creativity? A. Organization creativity B. Relationship creativity C. Event creativity D. Material creativity Correct: The Correct Answer is: D. In the context of William Miller's research, Ramona is channeling her creativity into the area of material creativity. Material creativity entails discovering new uses and inventing materials for services, products...
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...practical. Minnesota Mining & Manufacturing Corporation (3M) is one of the companies that have successfully implemented differentiated product strategy that gives priority to innovation as a competitive advantage offered. This company believes that innovation to be the cornerstone of 3M’s future success. Current management has continued to embrace and expand these policies and philosophies. That is why researchers interested in evaluating policies and 3 M that philosophy is based on the innovation in the implementation of the strategy of differentiation 2. Motivation Motivation researchers conducted a study of control for differentiated strategies in Minnesota Mining & Manufacturing Corporation (3M) because the researchers wanted to know more about the factors that influenced the design of the system and also the policies and philosophy rooted in the innovations made by 3M Corporation. By studying and examining the existing policy and philosophy that is rooted in innovation from the company, researchers can get a clearer picture of how to do a proper evaluation and what steps should be taken when problems arise in the future. 3. Research Question Evaluate the policies and philosophies of 3M from the standpoint of helping the company implement its strategy, rooted in innovation. 4. The Aim/Objectivity To provide evaluation policies and philosophies used by the 3M Corporation in implementing the strategy of differentiation that is rooted...
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...Hewlett Packard (HP) are two companies famous for introducing Electric and electronic products. Although competing in similar industries, their strategies are very much different. Problem Definition: Given the differences in strategy between two firms, what would you expect would be the differences between TI & HP in their planning and control system; strategic planning systems; budgeting systems; reporting systems; performance evaluation systems and incentive compensations systems. Inferred from the case, we expect some differences in planning and control system between Texas Instruments and Hewlett Packard. This paper will discuss and propose some strategic planning systems, budgeting systems, reporting systems, performance evaluation systems and incentive compensation system for each company. . Strategic Planning Systems: In term of corporate level strategy, both firms have the same definition of business in which the firm will participate. TI and Hewlett-Packard (HP) are both in high-technology electric and electronics. But, the second aspect of corporate level strategy, which is deployment of resources among the business, may be different for each firm depends on the objectives that they want to achieve and competitive advantages that they have. I am well known for its first to entry, stay and try to achieve market leadership by cost leadership strategy. Meanwhile, HP is well known for...
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...bit smaller. With factories in China and buyers in many countries it is easy for people to survey different products and services that may circle the globe by using Google. The way Google allows people to surf the Internet and view information has changed the way international communities do business. The four functions of management have been used by Google’s management. Planning and organizing structures in all of their business offices create a business model for others to examine, as well as proven success in leading and controlling their many internal issues. Planning and organizing, leading and controlling can be seen by every person who uses the Internet. Whenever logged onto Google their services are well-organized and give the user a massive amount of control to obtain access on just about any type of information possible. As managers and employees and companies around the world do business, it's easy to see that in any form of delegation from managers to any member of staff that Google can be used to achieve many of tasks. Whether it is a manager delegating to subordinate or upper-level management passing down larger projects to leadership, Google can be used to get the job done. Technology Google Corporation management functions have been shaped by both internal and external factors. The internal and external...
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...Chapter 4 Ch INSTRUCTIONAL OBJECTIVES Upon completion of this chapter, students should be able to: Explain t e importance o mission, vision, a d pa the po ta ce of ss o , s o , and organizational objective in an organization. Describe the strategic planning in organization. Overview Resources provide the raw material, but organizational infrastructure provides the catalyst that allows innovation to occur. People individually and in groups promote innovation based on how the infrastructure responds to those new, troubling, and sometimes off‐the‐wall ideas. Overview While innovators generally become passionate about pursuing a particular activity, some minimum level of infrastructure support is absolutely essential for them to move forward. forward The infrastructure must find a way to accommodate the innovation process, or innovation will not take place. The organizational infrastructure issues are : Mission The mission of an organization is a general expression of the overall purpose of the organization. It broadly defines the scope and boundaries of the I b dl d fi h d b d i f h organisation, which should be in line with the expectations and values of major stakeholders. Mission Written declaration of a firm's core purpose and focus which normally remain unchanged, whereas business strategies and practices may frequently be altered to adapt to the changing circumstances. Some organizations find it helpful to provide a concise and clear written statement...
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...an organization communicates the need for change, the plan for change as well as the implementation of change are the broad spectrum of the success or failure of change. Not clear. The following literature reviews attempt to This literature review support the hypothesis that Proctor and Gamble would benefit from creating desire to change, communication, planning and resources. These are four of the most important phases of successful change implementation for Proctor and Gamble. Proctor and Gamble Problem Overview Underline not needed. Proctor and Gamble is an innovative, multinational company. Currently, Proctor and Gamble lacks an effective distribution system in some segments as well as poor location in some foreign countries and high cost of inputs. Another area of weakness is the employment of foreign based local management who don’t have international business experience. doesn’t have any international business experience. This makes collaboration with headquarters a little difficult because of their inexperience in the global business. According to the article: How Proctor and Gamble Survived Through Innovation, several challenges and factors confront management when leading and managing innovative change processes in a multicultural and diverse organization. like P&G. This case...
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...organisation”. Thus it is of great importance to structure project portfolio in alignment with the organisation’s strategy so as to archive business objectives. According to Cooper et al. (2002), the following are three main objectives for project portfolio management: • Increasing financial value • Aligning portfolio to strategic goals • Balancing the projects within the firm’s capacities In order to archive this objective there is a need to understand the strategic orientation of the firm or what we call corporate mindset (Meskendahl 2010; Talke 2007). Strategies should consider the position of the business both internally and externally for example, a company’s systematic advantage towards its competitors (Morgan & Strong, 2003). There must be a clear understanding of how strategies are mapped to address risk matters and the flexibility of applying and introducing innovations in comparison to the organisation’s competitors. The corporate mindset has a great impact on the portfolio decisions including the structure of the portfolio (Meskendahl 2010). A clear understanding of strategic orientation will help with the...
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...Management Planning Lynette Gibson MGT/330 December 5, 2011 University of Phoenix Alvin Swanson Management planning consists of a systematic activity within an organization that determines who will and how to perform a specific job. Management planning is a detailed course of future actions the organization will engage into obtain successful organizational goals. The management planning process takes the perspective available individuals, and physical resources within the organization into consideration for the organization to achieve effective contribution, coordination, and perfect adjustments for organizational success. This paper will evaluate the planning functions of Boeing. Boeing is the largest manufacture of military planes and commercial jetliners and “One of the world’s” leading aerospace companies. Boeing specializes in manufacturing and designing of defense systems, communication systems, launch vehicles, and various other systems. Boeing operates the International Space Station and the Space Shuttle National Aeronautic Space Administration (NASA), Boeing functions of management is the important factor to the success of the company. Boeing Management Planning Functions Boeing has many departments therefore lack of planning would place the company in a vulnerable position for failure to motivate employees and meet deadlines. Boeing has developed a very unusual organizational structure, which assumes two business solutions tied together with nine levels that...
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...70 countries, including the United States (Boeing.com). This company is known for its innovation and seems to constantly make plans to stay ahead of the competition. A portion of their mission statement includes “we will strive for continuous quality improvement in all that we do, so that we will rank among the world’s premier industrial firms in customer, employee, and community satisfaction” (Boeing.com). It is clear that this company relies heavily on its management staff and planning teams. It is common knowledge that Boeing consists of two business systems which are Boeing Commercial Airplanes and Boeing Defense, Space, and Security. The corporate functions that guide Boeing are Business Development and Strategy, Communications, Engineering, Operations and Technology, Finance, Human Resources and Administration, and the Office of Internal Governance. Each department has its own set of goals and objectives to evaluate and implement with the company’s overall mission in mind. The Business Development and Strategy team is an extension of the management, marketing, and research teams, they provide information and advice on the business goals. Shepard Hill is the head of Boeing’s large Business Development and Strategy team. His role includes “analyzing and developing plans to drive the company’s growth and nurture new business. In this capacity, he coordinates the company’s Corporate Development function, with responsibility for acquisitions, divestitures, mergers, equity...
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...Managing Foresight for Innovation in Large Firms Lina Bakker & Linn Johansson Summary Corporate foresight has the potential to create competitive advantage by providing strategic orientation and supporting future insights. As humans we apply foresight every day by anticipating the future and preparing for it. Yet, in a corporate context the concept has been much less explored. There is a lack of research covering how to organise for foresight, particularly in an innovation setting. The purpose of this study was therefore to examine how large companies can manage foresight. This was investigated in a qualitative research with the means of multiple case studies and expert consultation. The findings of this study show that managing and organising for foresight in large firms can be done on the basis of two approaches, formal or informal. This is based on theory and has been extended and modified in this study. The formal approach builds on structure and processes whereas the informal approach is based on the corporate culture. Which approach is more suitable depends on the existing structures and culture in place, as well as the desired outcome of foresight. 1 Introduction Today’s business environment is defined by rapidly changing technology and intense competition, in which innovation has become a critical success factor to sustain competitive advantage. More and more companies are searching for strategic orientation and feel the need to support more future insights to...
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...Management Planning at Boeing In this paper the planning function of management for the Boeing Company will be evaluated. In addition, this paper will discuss the influence that legal issues, ethics, and corporate social responsibility have had on management planning at Boeing. The few of many factors that influence the company's strategic, tactical, operational and contingency planning are profitability, innovation, and competition. W. James (Jim) McNerney, Jr., is chairperson of the board, president and chief executive officer of The Boeing Company. McNerney oversees the strategic direction of the Chicago-based, $68.3 billion aerospace company. With more than 157,000 employees across the United States and in 70 countries, Boeing is the world's largest aerospace company and a top U.S. exporter (Boeing, 2010). The Boeing Company's business is run by its employees, managers and corporate officers led by the chief executive officer, with oversight from the board of directors. The Board of Directors of The Boeing Company (“Boeing” or the “Company”) has adopted the following corporate governance principles to assist the Board in the exercise of its responsibilities and, along with Boeing’s Certificate of Incorporation and By-Laws and charters of the committees of the Board, provide an effective framework for Boeing’s governance. The Board believes these Principles should be an evolving set of corporate governance guidelines, subject to review and modification by the...
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...Management 1. Production/operations management is the process, which combines and transforms various resources used in the production/operations subsystem of the organization into value added product/services in a controlled manner as per the policies of the organization. Therefore, it is that part of an organization, which is concerned with the transformation of a range of inputs into the required (products/services) having the requisite quality level. Production function is that part of an organization, which is concerned with the transformation of a range of inputs into the required outputs (products) having the requisite quality level. Production is defined as “the step-by-step conversion of one form of material into another form through chemical or mechanical process to create or enhance the utility of the product to the user.” Thus production is a value addition process. At each stage of processing, there will be value addition. 2. Operations Management The study of set of activities comprising supervision, planning and designing of business operations in the field of manufacturing of goods and services is termed as operations management. The purpose of operations management is to make certain that the operations of a business are efficient and effective and result in minimum of wastage. Operations management tries to cut down resources involved in operations while at the same time making operations more effective and productive. In fact operations management is...
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...criticism in the 1990s………………………………………………………….5 b. Responding to the criticism and repair Nike’s image………………………………...5 3. Organizational culture related to sustainability…………………………………………..6 a. Impact of organizational culture to sustainability…………………………………….6 b. Building organizational culture………………………………………………………6 4. Product innovation……………………………………………………………………….7 5. Conclusion………………………………………………………………………………..8 6. Recommendation…………………………………………………………………………8 References list……………………………………………………………………………10 Executive summary Management sustainability is the responsibility of organizations to ensure their operations give economic, social and environmental value while maintaining the resources required for future generation. Sustainability is a part of business strategy today and it can bring competitive advantages for companies if it is well considered. Nike is the world leading company in shoes and sport equipment industry. It was established in 1964 and located near Oregon, United States. This report will discuss, analyse and evaluate how Nike company uses planning and organizing functions to maximize its benefits from sustainability. It will start with how Nike repair its negative reputation of sweatshop in its factories in developing countries, and then look at how it...
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...External and Internal Factors External and Internal Factors Management is a universal concept because its principles and techniques are used all over the world, irrespective of their level of development. The basic objective of the management is the progress of people and not the direction of things. The conservative explanation of management is obtaining work done through its people, but the factual management refers to the development of people through work. The management should make the difficulties interesting and their solutions productive for the team members so that everyone can deal with these situations. Management has to provide effective leadership, promote team spirit, set in motion bilateral and multi-lateral channels of communication and enroll the participation of its people, commitment and contribution through an appropriate system of financial and non-financial incentives. Functions of Management The four basic functions of management are planning, organizing, leading, and controlling. The internal or external factors of an organization influence the ongoing process of an organization. They create an impact on the above-mentioned functions of the management. An impact of these internal and external factors will help in modifying the organization culture. Planning refers to designing policies and procedures to build up production or service capabilities, or to diversify its business and extend its existing capacities. Organizing refers to as the management...
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...Internal and External Factors Team A Executives, managers and companies, would not exist if these four fundamentals were not applied; planning, organizing, leading and managing. It takes these four key elements to run a business no matter how small or large the business is. Planning is the first function; here is where expectations and goals are set to be achieved. Organizing is next, here is where management assembles and coordinates human, financial, physical, informational and other resources needed to achieve the goals (Bateman & Snell, 2011). From there, we move onto leading; where management shows that they are good leaders. By stimulating their employees in a positive way to produce and perform at exceptional high rates with quality work. Lastly, there is managing. Bateman and Snell (2011) stated, "By managing, managers make sure the company's resources are being used as planned and that the business is meeting its goals" (p. 16). These four functions affect a business internally as well as externally as well as globalization, technology, innovation, diversity and ethics. Globalization externally has become more popular since companies now able to access the internet. Before the internet companies would have to search for a product locally, now with the internet companies have the option to search and order a part from any part of the world as well as selling their product. Globalization internally allows a business to be based in another country; managers would...
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