...Creating Shared Value. (Michael E. Porter & Mark R. Kramer) * What is your reaction to this article? Critically evaluate its content based on your personal and professional experiences and any additional research you might like to do. The article starts with a description of the cynicism surrounding capitalism and management, and also some of the reasons for such cynicism. My life’s first attitude towards capitalism and management was also marked by distrust and skepticism. I grew up in a small town that is surrounded by big factories that manufactured products such as steel, cement, flour and so on. Our town was victim of companies’ strategy to relocate their production plants where labor was cheaper. Article provides three concrete steps that management can take to achieving what they have dubbed as Shared Value, which is an attempt to meld together societal and economic progress, so that it creates societal value for the community in terms of making relevant contributions to their social realities, but not at the expense of economic value to the business. The three steps are as follows: 1) Reconceiving products and markets; 2) Redefining productivity in the value chain; and 3) Enabling local cluster development. In brief, reconceiving products and markets entails meeting needs in often underserved markets through redesigning products and/or distribution methods. The authors cite microfinance as an...
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...where it is on the path to multiculturalism, 2. decide on a vision of multiculturalism it wants, and 3. select appropriate goals and interventions to support its desired vision. THE MULTICULTURAL ORGANIZATION DEVELOPMENT MODEL MONOCULTURAL Exclusionary Committed to the dominance, values and norms of one group. Actively excludes in its mission and practices those who are not members of the dominant group. Passive Club Actively or passively excludes those who are not members of the dominant group. Includes other members only if they “fit” the dominant norm. Values and promotes the dominant perspective of one group, culture or style. TRANSITIONAL MULTICULTURAL Compliance Positive Action Redefining Passively committed to including others without making major changes. Includes only a few members of other groups. Committed to making a special effort to include others, especially those in designated protected “classes.” Tolerates the differences that those others bring. Actively works to expand its definition of inclusion,...
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...Business Intelligence Redefining Management Processes * Project Category: Business Intelligence * Project Topic: Business Intelligence-Redefining Management Processes * Contributor Details: * Name: Nishikant Harjai (11 Ex-037) * Synopsis of the Project Today, Indian firms have been exploring ways to improve their business practices and procedures to gain competitive advantage. One of the most talked about Information Technology (IT) enabled business innovation is the emergence of Business Intelligence (BI). A well implemented BI can bring manifold benefits to an organization. However, the implantation is resource intensive and complex, with success dependent upon various critical success factors. The successful implementation of BI depends upon several factors. Indian organizations hesitate to adopt BI as they feel higher risks are involved and the returns are not assured in India. The demands of the industry may vary in time in India. Indian firms are of opinion that the products have limited amount of customization paradigm, hence greater complexity involved to adopt BI. This paper focuses on two aspects of BI in India: prospects and challenges. It tries to identify the major issues and concerns in successfully implementing BI in India. A business is operated with the objective of making a profit from the sale of goods or services. Business Intelligence enables the comprehension, understanding and profit from experience. Business data and information...
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...ready to meet its deadlines on time. One suggestion to consider is to make sure that all project team members are aware of the projects objectives and their own role in the project. In doing this it will alleviate any misunderstanding, and uncertainties that are likely to occur through the project. Another suggestion to be considered is the utilization of key tools such as risk management, scope management, proactive communication, and issue management to ensure that a project deadline is met. If properly utilized these key tools there is no 100% guarantee that the project will be prevented from being delayed. However, it will guide the project manager and team member on how to properly handle a situation that might occur. After much research, I will discuss in this paper how utilizing each key tool will prevent a delay in a project. The first key tool for discussion is risk management. Risk management is considered to be the process of identifying, assessing, and prioritizing the risk in order to minimize, monitor, and control the probability and impact of unfortunate events. Within risk management there are steps that need to be applied which are as following:...
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...– Individuals who are responsible for making organization – wide decisions and establishing plans and goals that effect the entire organization. Describe the functions of managers Where do managers work? * Organization – A deliberate arrangement of people assembled to accomplish some specific purpose (that individuals independently could not accomplish alone). * Common characteristics of organization: * Have a distinct purpose (goal) * Are composed of people * Have a deliberate structure What do managers do? * Management involves coordinating and overseeing the work activities of others so that their activities are completed efficiently and effectively. * Efficiency is doing things right and getting the most output for the least inputs. * Effectiveness is doing the right things and attaining organizational goals. The Four Management Functions 1. Planning * Defining goals, establishing strategies to achieve goals, and developing plans to integrate and coordinate activities. 2. Organizing * Arranging and structuring work to accomplish organizational goals....
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...Memo To: New Health Medical Systems management From: Date: Re: Evaluation of the staffing strategy Section 1- Introduction The following memo will evaluate New Health Medical Systems staffing strategy to determine how well it aligns with the new strategic goal and the requirement to fill 35 new positions. An innovative staffing strategy is to be generated by the director of staffing which involves: • Placement of ads in the local dailies • Approach staffing agencies specializing in placing technicians in hospitals • Organize job fairs and encourage local talent to attend • Offer a signing bonus of $1,000 to any person who joins the company and works for a minimum of 6 months I will also address any changes or additional recommendations that should be done to the staffing strategy in order to meet the organizations goals. Section 2 - Staffing Strategy Alignment New Health Medical Systems should decide on procedure that will work efficiently and align with the company's new strategic direction so as to obtain the technicians needed for their new cardiovascular unit. “This is an ideal time to evaluate how the work may have changed since the employees were initially hired and how you might enhance your talent mix by redefining job requirements.” (Messmer, 1999) New Health Medical Systems needs to focus on staffing strategically in order to meet the company’s objective of becoming a regional center for critically...
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...fulfillment of requirement for Talent Management in HRM 532 Submitted on 30 October 2012 Key Words for Library Catalog Submitted to: Business Strategies Prof. Talent Management Program Course Instructor Talent Management Process Talent Management Planning Developing Talent Outline the talent management program that led to the success for the company. In the broadest sense, talent management has been described as “a deliberate and ongoing process that systematically identifies, assesses, develops and retains talent to meet current and future business needs and objectives.” (Wiley & Sons) McDonald’s has taken the steps to put talent management at the core of their overall Global Business Strategy for success. McDonald’s used a broad-scale initiatives approach to development and retain talent and its working! Reporting their first ever loss in Q4 2002, the CEO resigned and the new CEO stepped in and began to implement a new business strategy to right the ship. McDonald’s leadership understood that in the rapidly changing 21st century business world, the best companies implement and aggressively support any initiative that promotes the link between keeping the best talent and achieving the best results. The initiatives McDonald’s implemented to align their talent management programs with their overall Global Business Strategy are as follows: * Performance Development System Redesign * Redefining key leadership behaviors termed “performance...
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...The 5 steps in the strategic process: “A strategic planning process is a systematic or emerged way of performing the strategic planning in the organisation through initial assessment, thorough analysis, strategy formulation, its implementation and evaluation.” In this essay I will discuss the strategic planning process which involves the development of a strategic vision, mission and values, setting objectives, crafting a strategy to achieve the objectives, executing the strategy and evaluating the outcomes. I will look at how each section is inter-related and why it is important for a company to manage this process. Developing a strategy to gain sustainable competitive advantage and ultimately grow profits is fundamental to achieving success for a company. Without it, a company has no road map to follow when pursuing opportunities and running daily operations, the consequences of which can be severe. The first step in developing a strategic plan is to outline the company’s vision (why we exist), mission (what we want to be) and goals (what we must achieve for success). The mission provides a road map showing the route a company intends to take to develop and strengthen in business. It paints a picture and describes the company’s rationale for going there. While the vision statement will outline an image of what success looks like and the mission statement will identify the firm’s product or service. It also clarifies the firms business to stakeholders as well as...
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...Alignment Advantages The advantages of aligning business and IT strategies are many. The first and most important to most businesses is to improve their bottom line or profits. Integrating strategies will help to achieve maximum benefits and generally will improve a company's overall performance. IT or Information Technology is becoming a key to businesses succeeding especially as they grow. By aligning business and IT companies can reduce costs, streamline or standardize processes within the company saving both time and money which can improve workflow and communication within the company. Aligning these may also help a company get to a level of service to the customers that they can repeat continuously and help the company with future growth due to its standardized processes. "Ninety-six percent of IT executives surveyed predict a "significant or moderate" positive bottom-line impact if an IT strategy was specifically developed to closely align with and support the corporate strategy." (IT Business Edge, (2013)). IT delivers business benefits related to the business strategy by helping organizations become both more efficient and successful which can lead to reduced operating costs and help to create value added services. With the effective integration of IT a company can benefit from better decision making. Companies that can change their business direction as a result of aligning business and IT strategies will often be more viable and effective. Changing their direction...
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...Riordan Manufacturing Team Strategy and Conflict Management plan MGT311 Abstract The purpose of this paper is to develop a usable plan to build teams and alleviate conflict that has arisen between to employees of Riordan Manufacturing. A number of possible solution types are presented and the most appropriate ones, for each set of circumstances, are chosen. The purpose of this exercise is to allow the study of particular situations in the classroom setting rather than attempting to learn from them is a business setting. Team Strategy Plan 1. Complete the following table to address the creation of teams at Riordan Manufacturing. Strategy | Strengths | Weaknesses | Problem Solving Team | Highly specific to one area or process. Uses team members that work in the same area to address a specific issue | Usually built for a specific single task and limited to single location. | Self-managed team | Team selects appropriate members. Group is functional in a particular area. Reduces need for supervisory positions. | Prone to conflicts within team. Power struggles. Conflicts reduce overall function. | Cross-functional team | Brings a broad number of members in from different work areas. Covers a large number of viewpoints. Allows sharing of information across work areas. | Takes time to build trust between work areas. Initial success usually takes longer. | Virtual team | Can bring in subject matter experts in from any location. No travel expense. Members are...
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...http://www.scribd.com/doc/51862116/Dell-Strategic-Management 1. Choose any organisation of your choice. Use any of the strategic change models discussed at AC1.1 to prepare a change plan for your chosen organization The strategic change model is different thing to different people. There are many models which are applicable in the strategic change model as well. The strategy models frame work consists of learning process, living system, strengths, alignment process, community development, competition, cognition, design chan, postioning, power, process of improvement, and value creation. Dell Company provide strategic management to translta the Dell provides a classic example of how the principles of strategic managementhave been used to translate an innovative vision into a successful and sustainableenterprise. Their vision statement basically tells the way they do their business.They want to be successful in the digital world for this they rely on latesttechnology. Dell provides quality products to cater the needs of the people. Inintend to build good relationship with their customers and suppliers Analysis of the internal environment:After setting the mission and objectives the next step is to analyses the internalenvironment.E.g.: Dell Corporation needs more qualified manpower, machines adopted byDell Corporation should be highly Resultant Analyze of external environment:The management conducts the analyses of the external environment.E.g.: Dell Corporation manufactures...
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...PG0-008 MAY 16, 2011 TEACHING NOTE Grolsch: Growing Globally Case Synopsis Grolsch reassesses its international strategy in light of the company’s recent acquisition by SABMiller, the world’s second largest brewer. Grolsch was the 21st largest global beer brand, sold 51.5% of its volume in international markets, and exported to 70 countries. However, its poor profitability in international markets, four countries alone accounting for two-thirds of foreign sales, and churn of markets and distribution partners raised concerns about the company’s international strategy and execution. Grolsch’s 60 years of history in foreign markets provides a rich backdrop to introduce a range of international strategy topics including: performance assessment, rationale for expansion, market selection, and choice of entry mode. Suggested Assignment Questions 1. Why did Grolsch globalize, and how well has it performed internationally? 2. What are the key elements and limitations of its emphasis on adaptation, in particular? 3. What lessons does Grolsch’s history afford about where to compete? What, specifically, do you think about the MABA process? 4. What lessons does Grolsch’s history suggest about how to compete in the markets targeted— particularly about modes of entry? 5. What other changes would you suggest to Grolsch's historical strategy? 6. Will the merger with SABMiller add value—or will it be a win-lose deal? Teaching Objectives This case...
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...INTERNATIONAL BUSINESS STRATEGY SPRING 2009 Office Phone Email Chiung-Hui Tseng 61411A (Institute of International Business) (06) 275-7575 ext.53512 ctseng@mail.ncku.edu.tw Texts Ireland, Hoskisson, and Hitt (2009) The Management of Strategy: Concepts and Cases, 8th Edition, South-Western Press. Course Objectives In the past a few decades, the trend of globalization has rendered the world economies more interdependent. All businesses today (both international and domestic ones) are exposed to international competitive forces that can have serious consequences for their performance and survival. Such international competition especially brings new challenges and problems to corporations and managers directly involved in foreign markets. Among various issues arising from international operations, this course particularly focuses on the managerial challenges associated with strategy development and corporate management for those firms whose business activities transcend national boundaries. Specifically, objectives of this course are twofold: 1. to expose students to issues related to business strategy within the context of global markets and competition 2. to provide students with significant opportunities to develop oral communication and presentation skills Requirements and Grading Individual Activities: Participation 40% Exam (close-book) 20% Group Activities: Chapter Text Presentation and Discussion Leading...
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...Chapter7 ANSWERS TO DISCUSSION QUESTIONS How is e-business “redefining old business models, with the aid of technology, to maximize customer value? e-business is more than just buying and selling of products and services through the means of digital media. Whereas e-commerce concentrates on buying and selling, e-business encompasses e-commerce and a whole lot more. For example, e-business includes both front – and back-office applications that form the engine for modern business. e-business is redefining old business models through the aid of technology, to maximize customer value. e-business is the use of the Internet and other networks and information technologies to support electronic commerce, enterprise communications and collaboration, and Web-enabled business processes both within an internetworked enterprise, and with its customers and business partners. 2. Why is there a trend toward cross-functional integrated enterprise systems in business? Cross-functional information systems are integrated combinations of business information systems that share information resources across the functional units of an organization. Integrated systems allow the same data to be used for multiple applications; information output from one function can easily become data input to another function. Only one integrated database needs to be maintained. Many organizations are using information technology to develop integrated cross-functional enterprise systems that cross...
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...Advanced technology is redefining the performance of platforms supporting functional capacities of Human Relations (HR). Playing a critical role in reaching the client's business goal, this software technology is focused on creating the right balance to fit the business's core operations. The business method is simple. Using the best industry practices, we develop the solutions needed to support the platform functions vital to human capital management (HCM) for our clients. As a management tool, a single employee record is shared across multiple networks in this environment. Aligned with a single cloud-based solution, it incorporates, recruiting, performance management, compensation planning, time, attendance and payroll functions. Report chronicles...
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