...Ethics Sheldon Martin MGT/498 Wednesday, July 2, 2014 Donshea Williams Ethics refer to the primary principles of a single or a group. Social responsibility is how a business operates its activities to reach its wider requirements toward the society and environment, such as by dodging activities which may be damaging. Strategic planning is a necessary initial step in the corporate world in which senior management defines the organization's strategy, direction and decision-making. Ethical values and social responsibility serve a considerable role in the strategic planning process. Social Responsibility To the Stakeholders Management must confirms that strategic decisions are accomplished after taking into justifying the possibility impact on the stakeholders. Stakeholders are suppliers, customers, societies and anybody who is self-conscious by the activities of the business. A socially responsible company treats stakeholders the fairly. Wider viewpoints also have to be considered in circumstances of environmental and social impact of planned activities. Transparency Members of management should accommodate info that is straightforward and trustworthy to help all tangled discuss, debate and accomplish better decision-making. This makes the team to point out and evaluate any possible risks which may about and find a different solution. In an understanding of social responsibility, clarity also strengthens the company's worthiness toward the outside of the stakeholders...
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...Strategic Planning Part I: Conceptualizing a Business BUS/475 Strategic Planning Part I: Conceptualizing a Business Proper strategic planning is important to the future of a business. Strategic planning is the organizations process of defining who they are, what they do, who they do it for, and how they do it. It provides a strategy and direction for molding company policies, products and services. The strategic planning process focus on understanding the organizations relationship to its stakeholders using four main concepts: Vision, Mission, Values, and Strategy. This project will focus on the strategic design of Under Armour, Inc. The Purpose of Under Armour The Under Armour sports gear and equipment was born in 1996 by a University of Maryland football captain named Kevin Plank who is still chairman and CEO of the company (Google Finance UA, 2013). The first plan was to create a superior t-shirt that would provide compression and keep perspiration off of the skin as opposed to absorbing it. His plan was to create a shirt that would work with the body and regulate the body’s temperature as well as enhancing the athlete’s performance. Kevin created tight fitting sportswear that is made in base layers. The gear was designed for contact sports. The company uses ArmorGrip technology that is designed to hold the clothes in place and prevents movement of the clothes on the body. The sportswear is made with a thin material designed to be easy to put on and to fit...
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...IKEA Task 1 Boru Zhao Examine approaches to strategy evaluation and selection P7 Analyse possible alternative strategies relating to substantive growth, limited growth, Market entry strategies, and disinvestment strategies IKEA has marketed its products well and has dealt with all the problems easily. But there have been some constraints that came in the way of IKEA and alternative strategies have to be developed for them. These strategies are as follows: Substantive growth: In any business strategy growth is the most important factor. To achieve substantive growth the firm needs to go through a lot of planning. Some of the key advantages of substantive growth are: • Exponential Growth: Once IKEA achieves substantive growth in their business then they can be confident that it will lead to more growth in the future. There is a tendency of the growth of wealth at an exponential rate and the company can use these funds for other project to generate gains in future. While an organization achieves substantial growth the main benefit is that it helps in investing them for future benefits and achieving potential wealth gains. This is always a welcome consideration. • Competition: Substantive growth of IKEA will help them to understand the strength of the competition and developing the business strategy accordingly. The faster a company achieves substantive growth the easier it is for them to beat the competition. The added wealth...
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...Business Strategy Executive Summary: Every organization has specific goals and objectives. To meet them in the coming days an enterprise prepares different strategy. Organization’s profits leading to ultimate growth are backed up by appropriate strategy of the organization. Strategic management process is also considered here to understand strategy planning and its implementation. Strategic planning process must involve identifying the organization’s current mission, vision, objectives and goals; SWOT analysis: Internal analysis and external analysis; Strategy formulation; Strategy implementation and the evaluation of strategy. An organization to make a strategy appropriately must fulfill all of the elements in the process. Table of Contents Executive Summary: 2 Introduction: 4 Task 1 The process of strategy planning: 4 Task 1.1 Strategy contexts and terminologies: 4 Task 1.2 Issues involved in strategic planning: 5 Task 1.3 Discourses of different strategic planning techniques: 6 Task 2 Formulating new strategy: 7 Task 2.1 Organizational auditing of Tesco: 7 Task 2.2 Environmental auditing of Tesco: 8 Task 2.3 Significance of stakeholders’ analysis: 9 Task 3. Approaches to strategy evaluation and selection: 10 Task 3.1 Plausible alternative strategies relating to substantive growth, limited growth or retrenchment: 10 Task 3.1.1 Corporate strategy: 10 Task 3.1.2 Competitive strategy: 10 Task 3.1.3 Functional strategy: 11 Task 3.2 Appropriate...
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...Management Part 3: Formulating Strategy Part 4: Global Human Resources Management The University of Western Australia Strategic Planning and Strategy Strategic Planning • The process by which a firm’s managers evaluate the future prospects of the firma and decide on appropriate strategies to achieve long-term objectives Strategy • The basic means by which the firm competes., that is, its choice of business or businesses in which to operate and the ways in which it differentiates itself from its competitors 63 How does globalisation, risk, political-legal-ethical and culture affect the value chain that a firm manages and operates to create ‘value’ = strategic planning +strategy = STRATEGIC FIT between ‘inputs’ and ‘outputs’ Porter, M (1985) Competitive Advantage: creating and sustaining superior performance. NY: Free Press The University of Western Australia Steps in Developing International and Global Strategies Mission and Objectives Environmental Assessment and Scanning (PEST, PESTEL, Risk) Internal and Competitive Analysis (SWOT) Global Integrative and Entry Strategy Alternatives (Export, JV, Strategic Alliance, CAGE) Strategic Choice, Implementation, Feedback, and Control (Governance) Copyright ©2014 Pearson Education Realize that much of international business is conducted through strategic alliances. Understand the reasons that firms seek international business allies and the benefits they bring. Become...
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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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...BSBMGT515A Table of contents 1. Introduction (1) 2. Operational planning within The Iconic (2) 3. Components of operational plan (3) 4. Budgets (4) 5. Forecasts (5) 6. Environmental Scanning (6) 7. Key performance indicators (7) 8. Acquire Resources (8) 9. Monitor Operational Performance (9) 10. Monitor and review operational performance (10) 11. TOWs analysis on The Iconic (11) 12. Summary (12) 13. Reference list (13) Introduction (1) Planning means factoring in all aspects of what needs to happen in the future in order to ensure that it all gets done in the time available. In a business environment we use operational plans to ensure that targets are met within given timeframes and to satisfactory quality standard. There are three types of plan used at different levels within an organisation: * Strategic plan * Business plan * Operational plan The strategic plan is developed for long-term planning and covers a period of about five years. The strategic plan specifies the missions and goals of the organisation including decisions on how resources, both capital and human, will be allocated to meet organisational goals. A business plan sits between the highest-level plan (the strategic plan) and the operational plan. A business plan is a formal statement of a set of business goals and objectives that are to be achieved to meet the strategic objectives of the organisation. The business plan includes the reasons...
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...| | | | | 5.1. Strategic Management in the P-O-L-C FrameworkLearning Objectives 1. Be able to define strategic management. 2. Understand how strategic management fits in the P-O-L-C framework. 3. Broadly identify the inputs for strategy formulation.What Is Strategic Management?As you already know, the P-O-L-C framework starts with “planning.” You might also know that planning is related to, but not synonymous with, strategic management. Strategic management reflects what a firm is doing to achieve its mission and vision, as seen by its achievement of specific goals and objectives.A more formal definition tells us that the strategic management process “is the process by which a firm manages the formulation and implementation of its strategy.”[196] The strategic management process is “the coordinated means by which an organization achieves its goals and objectives.”[197] Others have described strategy as the pattern of resource allocation choices and organizational arrangements that result from managerial decision making.[198] Planning and strategy formulation sometimes called business planning, or strategic planning, have much in common, since formulation helps determine what the firm should do. Strategy implementation tells managers how they should go about putting the desired strategy into action.The concept of strategy is relevant to all types of organizations, from large, public companies like GE, to religious organizations, to political parties.Strategic Management...
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...Strategic Leadership and Decision Making 18 STRATEGIC VISION A specialist was hired to develop and present a series of half-day training seminars on empowerment and teamwork for the managers of a large international oil company. Fifteen minutes into the first presentation, he took a headlong plunge into the trap of assumption. With great intent, he laid the groundwork for what he considered the heart of empowerment-team-building, family, and community. He praised the need for energy, commitment, and passion for production. At what he thought was the appropriate time, he asked the group of 40 managers the simple question on which he was to ground his entire talk: "What is the vision of your company?" No one raised a hand. The speaker thought they might be shy, so he gently encouraged them. The room grew deadly silent. Everyone was looking at everyone else, and he had a sinking sensation in his stomach. "Your company does have a vision, doesn't it?" he asked. A few people shrugged, and a few shook their heads. He was dumbfounded. How could any group or individual strive toward greatness and mastery without a vision? That's exactly the point. They can't. They can maintain, they can survive; but they can't expect to achieve greatness. Mapes (1991) SKY Magazine Vision is a widely used term, but not well understood. Perhaps leaders don't understand what vision is, or why it is important. One strategic leader is quoted as saying, "I've come to believe that we need a vision to guide...
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...Think Strategically This page intentionally left blank T H I N K STRATEGICALLY Xavier Gimbert Associate Professor, Business Policy Department, ESADE Business School © Xavier Gimbert 2011 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No portion of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, Saffron House, 6-10 Kirby Street, London EC1N 8TS. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 2011 by PALGRAVE MACMILLAN Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan in the US is a division of St Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and...
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...Strategic Planning {What is it? How do you do it?} [pic] 2008 Table of Contents Page Content 3-4 Introduction 5 Section 1: The “What” of Strategic Planning 6 Why should departments and agencies plan strategically? 7-8 Section 2: The “How” of Strategic Planning 9-10 How do I gather data and where do I get it from? 11 Participant Selection 12 Survey/focus group question development 12-14 Core Values Development 15-17 Organizational “Purpose” Development 17-19 Organizational “Vision” Development 19-20 Organizational “Mission” Development 20-22 Organizational “Goals and Objectives” Development 22-25 What are Action Steps and how are they developed? 25 Performance Audit – Review of Organizational Strengths, Weaknesses, Opportunities, Threats [SWOT] 26 Gap Analysis – Compare SWOT analysis information with Draft goals and objectives 26 Contingency Planning – Worst and Best Case Scenarios 26 Integrated Functional Plans – Action Steps 27 Implementation Considerations 27 Monitoring and Evaluation 28 -42 Short Cut – Simplified Planning Model 43-57 Section 3: Sample Plan 58 Points to Remember Introduction This document is intended to provide the reader with information about strategic planning. It is organized into three sections to help the reader better understanding what strategic planning is about and how it...
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...Strategic Planning {What is it? How do you do it?} [pic] 2008 Table of Contents Page Content 3-4 Introduction 5 Section 1: The “What” of Strategic Planning 6 Why should departments and agencies plan strategically? 7-8 Section 2: The “How” of Strategic Planning 9-10 How do I gather data and where do I get it from? 11 Participant Selection 12 Survey/focus group question development 12-14 Core Values Development 15-17 Organizational “Purpose” Development 17-19 Organizational “Vision” Development 19-20 Organizational “Mission” Development 20-22 Organizational “Goals and Objectives” Development 22-25 What are Action Steps and how are they developed? 25 Performance Audit – Review of Organizational Strengths, Weaknesses, Opportunities, Threats [SWOT] 26 Gap Analysis – Compare SWOT analysis information with Draft goals and objectives 26 Contingency Planning – Worst and Best Case Scenarios 26 Integrated Functional Plans – Action Steps 27 Implementation Considerations 27 Monitoring and Evaluation 28 -42 Short Cut – Simplified Planning Model 43-57 Section 3: Sample Plan 58 Points to Remember Introduction This document is intended to provide the reader with information about strategic planning. It is organized into three sections to help the reader better understanding what strategic planning is about and how it...
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...Contents 1. Introduction 2. BSC in Kazakhstan a. Sat&Company JSC b. Eurasian Bank c. Alfa-bank SB JSC d. TetraPack 3. Conclusion 4. References The organizations mentioned by the creators of Balanced Scorecard are from the future - only because they have a system that allows to create actual numerical results from the strategic initiatives and to turn a strategy into action Philip H. Knight, CEO and founder of Nike Introduction Balanced Scorecard (BSC) is one of the current world's top-ten effective strategic performance management tools. BSC is a system of measuring the effectiveness of the entire company, based on a vision and strategy that reflects the most important aspects of the business. It supports strategic planning, implementation, and further adjustments to the strategy by combining the efforts of all departments. It was first introduced in 1990s and became a very popular worldwide. Despite this popularity, little is known about which organizations use Balanced Scorecard, what they use it for, and how useful it is in practice. BSC implementation in Kazakhstan is under a big concern of local top managers. In this report we are trying to answer the practical questions of BSC’s usage by Kazakhstani companies, its limitations as well as opportunities for its successful maintenance in Kazakhstan. Benefits and limitations of Balanced Scorecard Throughout the report we will pay attention to the BSC’s benefits and the opportunities...
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...reproduced in any form or by any means, without the prior consent of one of the copyright owners. Initial enquiries should be addressed to RDI Consultants Ltd. The right of RDI as the authors of this workbook has been asserted in accordance with the Copyright, Designs and Patents Act 1988. First published in 2003 for RDI Consultants Ltd RDI Midland Management Centre 1A Brandon Lane Coventry CV3 3RD rdi Business Strategy Contents How to use this workbook Introduction Unit 1 Strategic Planning Introduction Strategic contexts and terminology An evaluation of the strategy framework Differing approaches to strategy The planning process Strategic planning summary References 1.1 1.2 1.18 1.25 1.30 1.36 1.37 Unit 2 Strategy formulation Introduction Environment auditing Assessing current market position Strategic direction The internal audit The formulation of strategy Strategy formulation – summary References 2.1 2.2 2.7 2.24 2.34 2.49 2.52 2.53 Unit 3 Strategic implementation Introduction The realisation of strategic plans to operational reality Resource allocation Review and evaluation Unit summary Module summary References 3.1 3.2 3.14 3.25 3.27 3.28 3.29 rdi How to use this workbook This workbook has been designed to provide you with the course material necessary to complete Module 8 Business Strategy by distance learning. At various stages throughout the module you will encounter icons as outlined below which indicate what you are required to do to help you learn. This Activity...
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...Strategic Management Strategic Management Philip Sadler First published in 1993, authors James C Craig and Robert M Grant Second edition published in Great Britain and the United States in 2003 by Kogan Page Limited, author Philip Sadler Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act 1988, this publication may only be reproduced, stored or transmitted, in any form or by any means, with the prior permission in writing of the publishers, or in the case of reprographic reproduction in accordance with the terms and licences issued by the CLA. Enquiries concerning reproduction outside these terms should be sent to the publishers at the undermentioned addresses: 120 Pentonville Road London N1 9JN UK www.kogan-page.co.uk 22883 Quicksilver Drive Sterling VA 20166–2012 USA © James C Craig and Robert M Grant, 1993 © Philip Sadler, 2003 The right of Philip Sadler to be identified as the author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. ISBN 0 7494 3938 6 British Library Cataloguing in Publication Data A CIP record for this book is available from the British Library. Library of Congress Cataloging-in-Publication Data Sadler, Philip, 1930Strategic management / Philip Sadler. – 2nd ed. p. cm. – (MBA masterclass series) Rev. ed. of: Strategic management / James C. Craig. 1st ed. 1993. Includes bibliographical references...
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