... Develop an argument supporting the importance of a strategic plan for the success of the defined business. Strategic planning is critical to business success. Different from classic business planning, the strategic variety involves vision, mission and outside-of-the-box thinking. Strategic planning describes where you want your company to go, not necessarily how you're going to get there. However, like all other "travel plans," without knowing where you want to go, creating details on how to arrive are meaningless. Strategic planning defines the "where" that your company is heading. Strategic planning is the core of any business. Thompson, A.A., Strickland, A.J., & Gamble, J.E. (2010) Crafting and Executing Strategy: The quest for competitive advantage: Concepts and cases: 2009 custom edition (17th ed). Unlike business plans, there is no one right way to create effective strategic planning. It is, by definition, brainstorming at its best. Strategic planning involves "feel" just as much as it depends on management science. Since it depends on creativity and outside-the-box thinking, there is no perfect way to design a winning strategic plan. The more you understand your company, your industry, and your corporate "wish list," the better a winning strategic plan you'll create. Pearce, John, & Robinson, Richard Strategic Management 12th edition As critical as business planning is to the success of your company, all plans are useless unless followed by action...
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...before but, I am aware that it is an addictive game. I know this because my 20-year old nephew, still a third year industrial engineering student up to this day, was an excessively avid player. Two years of his college life were wasted because of his addiction with the game. He could have been graduating this year if not for the addiction. Thus, when I heard from Professor Nicart that the game has been lauded by no less than The Harvard School of Business because of its contribution in developing management skills, I was intrigued. Then, she said we have to play the game at least 30 minutes a day for the next 5 to 6 days, I was amused and thought to myself that my nephew would have a blast when he hears about this. Hence, the adventure for me began even before I would play the game. CHAPTER ONE: Acquiring The Warcraft-DOTA File I had a very busy schedule ahead of me this week. I thought that in order to have this homework done, I had to finish it as soon as possible. So, as soon as I got back home last Saturday, which was about 7:30 PM because electricity in our area only came back around that time, I immediately searched if the “Warcraft-DOTA” file was installed in our computer. It was not. I also searched the other laptops we had at home and I didn’t find one. I went online to search a downloadable program file for free but, I only found files for demo purposes. I had no plans of asking my nephew for help but, I had no other choice, I had to ask him for a copy...
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... 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 challenging 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 businesses owners 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 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 owners might disagree with my argument, because they might feel that documenting a strategic plan can could be a time-consuming and costly process. This paper outlines the importance of documenting and implementing a strategic plan. Additionally, this paper provides...
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...Managing Innovation & Entepreneurship Interview report “How to implement business goals using innovation and creativity?” 1. Executive summary I would like to start my report giving you a brief idea about the person I was interviewing. Oleg Kryuchkov, CEO and owner of the company EventPlatform http://eventplatform.ru/, has been my business partner and my friend for the last 3 years. Analyzing our common projects, which we’ve made together (more than 20 unique projects for this period), I can say that they were full of emotions & fun, positive feedback, always new experience and challenge. None of them was similar. 2. Introduction: background Oleg has graduated from Moscow State (Lomonosov) University in 1992. He has a Master degree in applied Mathematics. He worked in USA for ACS business Process Solutions (now division of Xerox Corp.) Then he spend 7 years at Intel corporation, running partner network, driving the content for Intel Developer Forums across EMEA, and in 2005-2007 he was running Intel Innovation Centre in Russia, which happened to be a birthplace for an idea that later turned into a separate business, now known as EventPlatform. “We ran an integrated project promoting WiMAX broadband technology capabilities. We urgently needed some unusual idea that would make our demonstration more exciting and more “sci-fi”-looking. That’s how we came to an idea of a mobile device-driven game model to be used for sightseeing, training and staff development...
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...THE VALUE OF ANALYTICAL TOOLS IN COMPETITIVE ANALYSIS: HOME NURSING PROVIDERS ABSTRACT In business, analytics tool is a fast emergent field and there are many tools obtainable in the market to serve the essential needs of organizations. Analytical tools are used to help managers in making clear decision on the outcome of their findings enabling a shift in how businesses support operational decisions: from intuition to data-driven. Thus, analytics tools enable businesses to make better, more informed decisions and compete more successfully. In today’s global business environment, managers require the latest analytical and decision-support tools to cope with market complexity, regulatory change and pervasive uncertainty. For companies, the most valuable tools are those woven into the fabric of day-to-day business activities: forecasting trends, sizing markets, benchmarking practices, assessing risks, and quantifying results. INTRODUCTION Strategic analysis as an independent object of scientific study has been dealt with but insufficiently (Vaitkevičius et al., 2002). It has been reviewed, however, by comparatively numerous authors. It may be stated that some authors assigned more functions to strategic analysis (Lindblom, 1959); Cyert and March, 1963; Hammeresh et al., 1978; Porter, 1980; Stoner and Fry, 1987; Johnson and Scholes, 1993; Rowe et al., 1994; Grant, 1998; Peel et al., 1996; Godet, 2000; Barnes, 2002; Analoui and Karami, 2003; Eng, 2004; McNamee et al...
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...Environmental Scanning. Before an organization can begin strategy formulation, it must scan the external environment to identify possible opportunities and threats and its internal environment for strengths and weaknesses. How can we define Environmental Scanning? Environmental scanning can be defined as the monitoring, evaluating, and dissemination of information from the external and the internal environment’s to key people within the corporation. From my analysis we see how Howard Schultz CEO of Starbucks had a vision, he believed that Starbucks did not just sell a cup of coffee, rather than he had a desire to create customer intimacy, he wanted people coffee drinkers and non-coffee drinkers to fall in love with the place, he visioned an ambience that would attract coffee drinkers of all ages, to come and socialize, listen to soft music, admire their merchandize, and to create a great social meeting place. He used his quest for knowledge to push his product all over the world. He used demographics, he is seen clearly quoted in in one of the interviews in the Costco connection magazine dated April 2011, Volume 26 number 4, that “Our appetite for growth, for innovation and for transforming the company in many different ways probably has never been stronger”. He also scanned the environments of other countries likes Middle East, Asia, India. He knew that Japan was the third largest coffee beans importer; he used this to his advantage by tapping in to the Japanese market...
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...development to reach a certain level of leadership. This is an outline of my professional development plan. In it, my SWOT analysis is completed, my competency gaps highlighted and prospective future positions of leadership explored based on the skill I hope to attain. SWOT Analysis Every individual, like an entity, has strengths and weaknesses in character. These characteristics create certain opportunities in their lives which may be explored or overlooked. The characteristics also encourage threats to development, which may arise from within the individual or from other people in their immediate environment (Guskey, 2002). Strengths I have many positive aspects in my character that may be perceived as strengths in my quest for leadership and professional development. One of these strengths has been the fact that I have always held leadership positions ever since I was a child. Positions of leadership during school life not only grant an individual the chance to lead others, but it also enables the development of virtues like confidence and humility. Once when I was a child in 10th grade, I had to host an entire parent’s meeting. I must admit, throughout my professional development, I have never experienced a moment greater than that day. In addition to long experiences as a leader, I also have team leadership capabilities that are expressed strongly when I work with groups. In my recent Insight Report, I was accorded the green and red label. Green is an...
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... Positive Psychology scientifically studies the strengths and virtues that enable individuals and communities to prosper. The field is based on the belief that humans long to live meaningful and fulfilling lives, to achieve what is best within themselves, and therefore enhance their experiences of love, work, and play (ppc.sas.upenn.edu). Psychology has often been a misunderstood subject; from solving mental problems to solving complicated crime scenes, people, I included associate the subject with negativity. It may be that the assertions are based on the frequent use of the word “psychology” in cases of mental instability. Courts of law often rely on psychiatrists to determine if the accused individuals are sane enough for trial. These assertions have however been dispelled during my undertaking of the psychology class (Goodtherapy.com). I now recognize that the subject also deals with positive issues that improve one’s life if adopted. I am the subject in the essay and intend to analyze the surveys I undertook to analyze my strengths and weaknesses. The aim of undertaking and analyzing the surveys is to improve my personality and consequently improve my career goals. Undertaking the surveys was not easy as they required total honesty. Some of the surveys revealed results that were contrary to my expectations. This was shocking and I was almost tempted to manipulate the results to suit my preferences. This was a major challenge but I managed to overcome...
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...CASE STUDY: BANK OF AMERICA George Koduah October 30, 2012 CASE STUDY: BANK OF AMERICA Introduction Modern marketing practices have assumed a global perspective such that organizations must continually innovate their product and service offering to stay competitive and profitable. This situation has been exacerbated by increase consumer access to information, consumer quest for individuality, better product/service and better pricing. In the case of Bank of America (BoFA), such issues become very important during the global recession of 2007 and thereafter with its decision to embark on mobile banking. Strategic issues and problems The introduction of mobile banking by Bank of America was necessitated by the global recession which dwindled its retail section as customers increased the use of their money at the bank, with and the banks losses in other areas of the bank’s operations due to miscalculated acquisitions and bad lending practices (Gupta & Herman, 2010, p. 3). Mobile banking was one of management’s strategic approaches to rejuvenate the bank’s financial fortunes, maintain or increase its customer base and remain profitable. Management must make a decision on how to package the mobile banking program to the market considering cost and coverage to differentiate itself among competitors, and benefit from the various profit opportunities offered by mobile banking. The strategic issues facing BofA are the consideration of the extent mobile banking coverage, type...
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...Qualitative Critique Paper Neetaka Dickens University of Phoenix Analysis of Research Reports NUR/518 July 28, 2014 Veta Massey Qualitative Critique The purpose of the paper is analyze and critique the qualitative nursing research study related to a current nursing issue. A review of the strengths and weaknesses of this study and appropriateness of the studies for the clinical issue is included. While there is an impact of death on family members, there has been little research documenting the reactions and responses of our nurses. A Curtain of Protection Grief is defined as “keen mental suffering or distress over affliction or loss; sharp sorrow; or painful regret“(Merriam-Webster,2014). Every person in the world has suffered from grief at one point or another in their life, whether it was caused by the loss of a loved one or another reason it has been felt by them. Different people express grief in different ways; it can often bring people together as well as divide them. This is the same for our nurses. One of the nursing functions of an Intensive Care Unit (ICU) nurse is providing care for terminally-ill patients and assists them towards a peaceful death. However, in helping those patients to approach a peaceful death in an intensive care unit, nurses deal with many difficulties such as communicating bad news, counseling the persons’ families, and facilitating a peaceful death when time is limited. ICU nurses frequently face patients’...
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...Goal…………………………………………………….. | 1 | 1.1.4 Project Context……………………………………………….. | 2 | 1.1.5 Project Objectives…………………………………………… | 3 | 1.1.6 Techniques for Realisation………………………………. | 3 | 1.1.7 Structure of This Report………………………………….. | 4 | Section 2: The Contextual Review……………………………………….. | 6 | 2.1 Market Research…………………………………………………….. | 6 | 2.1.1 Categorisation of Gameplay Elements…………….. | 6 | 2.1.2 Game Comparisons…………………………………………. | 8 | 2.1.3 Comparison Analysis………………………………………. | 9 | 2.2 Market Surveys……………………………………………………….. | 11 | 2.2.1 Target Audience……………………………………………… | 11 | 2.2.2 Survey Approach…………………………………………….. | 11 | 2.2.3 Questionnaire…………………………………………………. | 12 | 2.2.4 Survey Results………………………………………………… | 12 | Section 3: Project Planning………………………………………………….. | 17 | 3.1 Design Blueprints……………………………………………………. | 17 | 3.1.1 Design Approach…………………………………………….. | 17 | 3.1.2 Design Document……………………………………………. | 17 | 3.1.3 Production Planning……………………………………….. | 19 | 3.1.4 Testing Plan……………………………………………………. | 20 | 3.1.5 Evaluation Plan………………………………………………. | 20 | References………………………………………………………………………….. | 21 | Appendices…………………………………………………………………………. | 22 |...
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...Y2K-related problems, resulted in opportunities that the company capitalized upon. Today the company serves clients drawn from global 2000 companies. Based upon its strong ethical and principled approach, execution excellence, relentless quest for quality and customer satisfaction, the company had astounding financial success and became a darling of the stock markets both in India and the United States. Notwithstanding its successful track record, Infosys has over the last several years, proactively been applying itself to a fundamental question of identifying the drivers of success for the next 10 years. Infosys has been deeply concerned about leveraging its current strong position, to evolve into a much stronger company, so as to ensure continued growth and success in the long-term. Main drivers that have contributed to drive the top management of Infosys to move up the value chain are below: * International Competitiveness * Overseas Expansion * Outsourcing Strategy * International Organization * Indian Brands * Indian Multinationals 2. Provide a mapping of the value chain in the IT services business. There could be many such value chain maps. Which of these are most appropriate for Infosys to focus upon its quest to move up the value chain? Value Chain Value Chain...
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...1.0 Executive Summary: 1+ page 2.0 Description of Company: 1+ page 3.0 Situational Analysis: New product development, is one of the most intricate organizational tasks that firms undertake in their quest to develop competitiveness (Graf & Saguy, 1999). Apple’s managers are cognizant of the fact that the success of new products in the market is dependent on the effectiveness of which the firm understands and exploits its capabilities. Thus, it is essential for extensive internal business analysis to be conducted. By conducting internal analysis, managers gain sufficient understanding of their organization’s capabilities and competences. On the other hand, external analysis gives insight on the prevailing market conditions. This increases the effectiveness with which the firm develops strategies to market its products. Before launching its Mini Ipad product, Apple Incorporation conducted an internal analysis in order to understand its competences and capabilities. 3.1 SWOT Analysis The SWOT analysis below illustrates Apple’s strengths, weaknesses, opportunities and threats. Strengths: * Positive brand perception- The success of firms in their respective industries is impacted by the brand perception developed by the target customers. Thus, it is critical for firms to take time in developing their brand identity (Klein, 2008). Over the years it has been in operation, Apple Incorporation has managed to develop a positive perception amongst its target...
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...I am bringing this vignette into my analysis because it displays another woman like her great-grandmother who sits by the window. These women used to be independent before the presence of a male figure. After a male’s dominance and actions taken toward her she becomes a different person one of silence, sadness and oppression sitting by the window. Esperanza uses these women as examples of the life she will have if she does not search for another one that breaks this cookie cutter mold. By delving deeper into oppression of women and the impact of men and their opinions of women, I decided to use personal experience and interview my sister and her two best friends. They are in their sophomore years of high school and have been invited to several Sweet Sixteen parties. One of the girls in the group had Sweet Sixteen herself while the other two celebrated in a different way. The first question I asked them was if during their own or during another’s Sweet Sixteen did they feel the need to dress nice for men? All girls replied, “yes”. I found this...
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...LDR/531 isn’t available until Sep. 03 and has 30 questions. LDR 531 FINAL EXAM PREP 1) Mintzberg concluded that managers perform 10 different, highly interrelated roles. Which of the following is one of the broad categories into which these roles might be grouped? A) intrapersonal B) institutional C) decisional D) affective E) reflective 2) Over the past two decades, business schools have added required courses on people skills to many of their curricula. Why have they done this? A. Managers no longer need technical skills in subjects such as economics and accounting to succeed. B. Managers need to understand human behavior if they are to be effective. C. These skills enable managers to effectively lead human resources departments. D. A manager with good interpersonal skills can help create a pleasant workplace 3) Which of the following is best defined as a consciously coordinated social unit, composed of two or more people, which functions on a relatively continuous basis to achieve a common goal or set of goals? A. Party B. Unit C. Community D. Organization 4) Which of the following is not one of the four primary management functions? A) controlling B) planning C) staffing D) organizing E) leading 5) Determining how tasks are to be grouped is part of which management function? A. Leading B. Planning C. Controlling D. Organizing E. Contemplating 6) Which of the following is least likely to be considered a manager? A. A lieutenant leading an infantry...
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