...CORPORATE STRATEGY AND STRATEGIC MANAGEMENT SPRING TERM 2015 Course Lecturer: Professor James Rafferty Course Tutor: Mr Tahiru Liedong Course Description The course is concerned with the Strategic Management issues and tasks faced by general managers in organisations. These involve determining the purpose and direction of the organisation, establishing objectives and formulating strategies to achieve them, which take account of changes in the environment and the organisation’s competence. The management of strategic decisions also deals with the problem of implementation, of planning change and creating an appropriate structure and culture to effect change. In addressing the scope of this topic we will examine the issues from a theoretical and practical perspective, highlighting the dichotomy between the various schools of thought, tools of analysis and research orientations. As Corporate Strategy and Strategic Management is concerned with complex decisions and management processes, throughout the course you will be required to draw on the concepts, skills and techniques previously covered in other courses within the Business and Management and related degree programmes. Course Objectives 1. To develop an understanding of the theoretical frameworks presented in the area of Strategic Management. 2. To develop the ability to analyse strategic issues within organisations. 3. To understand the strategy formulation process...
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...strategy, and how they differ from one another Identify the strategy process and describe the purpose of each step Explain the concepts of strategic thinking and analysis Describe the various levels of strategy and the links between them Explain the drivers, challenges and benefits of globalisation Discuss the role of the accountant in the strategy process PRACTICE • • • Have you completed the questions in the Study Guide? Have you completed the Learning Examples in the Student Notes? Have you completed the knowledge check questions from this module? Key revision areas: • The different approaches to strategy: rational, processual, evolutionary, systemic • The levels of corporate strategy and the scope/content of each • The drivers, challenges and benefits of globalisation • Evolution of corporate strategy as a concept – Porter, Mintzberg • Operational effectiveness v. strategic positioning • Developing the strategy – see Focus slide • Ethics in leadership: classical and socioeconomic views Strategy and leadership Approaches to strategy Strategy process • Rational – Ansoff, Chandler, Porter’s five forces • Processual – emergent strategies • Others – evolutionary, systemic • External environment – PESTEL (opportunities; threats) • Internal environment – strategic and operational drivers, people/organisational drivers (strengths; weaknesses) • Evaluating and selecting growth options –...
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...Literature Review: Strategic Management BUSI 600 Business Research Methods Thomas Sheppard Liberty University October12, 2012 Abstract In order to have a successful study, a review of the literature will be undertaken. Then the methods and standards that were used will be addressed, and any questions that are being considered for further research into the area of strategic management will be discussed. From that point, it is vital that conclusions be drawn and recommendations be offered to wrap up the study. Without these components, it is often not clear whether a researcher has a thorough understanding of what the study was designed to do, and it is also not clear if said researcher is certain as to what else should be done in the area and should be questioned when it comes to that particular issue. In short, studies without these components lack completeness and that can make it difficult for anyone in the future to use the study as a jumping off point for similar studies or studies into related issues. The concept of strategic management is one that is highly important to organizations around the world (David, 2009). It involves taking a look at the top management of a company and the resources that management team is using on behalf of the company's owners and in order to show a specific level of performance. The mission, vision, and objectives of the organization must be examined, and it is necessary for them to...
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...What do we mean by the terms ‘best fit’ and ‘best practice ‘to describe SHRM. Use any short case examples to illustrate your discussion? REWARD What are the main elements/components of a reward strategy?may 2012 , MAY 2011 What should organisations consider when developing a reward strategy? OCT 2012 What are the main features of Lawler’s model on strategic issues in reward management? RECRUITMENT & Selection process How can recruitment and selection processes contribute to strategic HRM? MAY 2012 How can recruitment and selection processes contribute to strategic HRM? OCT 2012 How do recruitment and selection practices help to deliver SHRM? MAY 2011 LEARNING ORGANISATION / ORGANISATIONAL DEVELOPEMENT Discuss the main features of a Learning Organisation. Why is it important in a strategic HRD approach to organising development? oct 2012 How does the ‘Learning Organisation’ approach seek to deliver organizational success? MAY 2011 Discuss the main features of a Learning Organisation. Why is important in a strategic HRD approach To organising development? Outline the main features of the organisational development process as laid down by Beckard? HUMAN RESOURCE PLANING How does modern human resource planning relate to human resource strategy and how does it differ from manpower planning?may 2011 ------------------------------------------------- Outline the main principles of human resource planning. 1. Specify the data that you would need to analyse the potential...
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...STRATEGIC ISSUE MANAGEMENT PRACTICES AT THE KENYA POWER & LIGHTING COMPANY LTD BY BETTY MWENDE KAUMBUTHU A RESEARCH PROJECT PRESENTED IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTERS OF BUSINESS ADMINISTRATION DEGREE, SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI NOVEMBER 2013 DECLARATION This research project is my own original work and has not been presented for a degree in any other University or Institution of higher learning. SIGNED ………………………………………… DATE ………………….. BETTY MWENDE KAUMBUTHU D61/71576/2008 This research project has been submitted for Examination with my approval as University Supervisor. SIGNED: ………………………………………… DATE: ……………………. MR. JEREMIAH KAGWE Lecturer School of Business University of Nairobi ii DEDICATION This study is dedicated to my parents and friends who bring me immense source of joy and fulfilment. iii ACKNOWLEDGEMENTS I am deeply indebted to Mr. Jeremiah Kagwe for his guidance, patience and insightful input from the commencement of this project to its completion. I wish also to express my appreciation to the School of Business, MBA lecturers without whose enormous contribution in class sessions, this work would have not been possible. I am also grateful to my entire family members. Their encouragement, patience and understanding were attributes without which I would not have successfully completed the project. I have also received support and motivation from several fellow MBA students during class sessions, group discussions...
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...toward the vision? If you need to make hard choices among competing programs and services for tight budget dollars, if you are looking to increase program and service effectiveness and improve operational efficiency and performance, and if you need to become a more strategy focused organization then a balanced scorecard may be the best planning and management framework for your organization. This article describes how to build a strategy-based balanced scorecard system, and shares some lessons learned from developing strategy-based scorecard systems in dozens of government and nonprofit organizations in 22 countries and from training over 5000 people from 150 organizations. “Balanced scorecard” means different things to different people. Balanced scorecards have evolved over the past decade from dashboard systems that simply measure financial and non-financial performance, to holistic, strategic planning and management systems that help organization’s plan strategically, and manage and track strategy execution. Strategy-based balanced scorecards align the work people do with organization mission, vision and strategy, and communicate strategic intent internally to employees and externally to stakeholders. In strategy-based scorecards, performance...
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...MANAGING INFORMATION SYSTEMS: A PRACTICAL ASSESSMENT TOOL Preview Version February 1999 By the Information Technology Resources Board www.itrb.gov FOREWORD The Information Technology Resources Board (ITRB) is pleased to issue Managing Information Systems: A Practical Assessment Tool. This instrument is designed to assist Federal agencies in understanding how to strategically apply information technology to achieve their missions and deliver services and products. The Assessment Tool contains a broad array of questions in nine areas from which to evaluate information technology systems: mission and vision, customers, business focus, executive direction, capital planning, project management, performance management, acquisition, and architecture. These questions reflect the ITRB members' extensive on-the-job experiences, as well as insights gained from assessments of critical information systems across the Federal government during the past several years. This is a preview version of the Assessment Tool, which will continue to be enhanced over time. Comments or suggestions for improving it should be sent to: Ginni Schaeffer Interagency IT Strategies Division 1800 F Street N.W. Room 2227 Washington, DC 20405 Additional information on the ITRB is available at www.itrb.gov Arnold Bresnick Chair Information Technology Resources Board ACKNOWLEDGEMENTS Information Technology Resources Board (ITRB) ...
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...ASSIGNMENT 1: HUMAN RESOURCE MANAGEMENT Contents Question 1: 1 Question 2 4 Question 2.1 4 Question 2.2 8 Question 3 12 Question 3.1 12 Question 3.2 15 Bibliography 21 List of Figures Figure 1: Model of effective Performance Management Process 5 Figure 2: Steps and Responsibilities in the Career Management Process 9 Figure 3: Strategy - decisions about competition 15 List of Tables Table 1: HR Practices utilized by Marks & Spencer to address strategic needs 17 Question 1: In an industry where competition is intense, developing staff has probably never been so important. By training and developing its staff, discuss how Marks & Spencer is in a position to develop a competitive advantage over its competitors. Introduction A competitive advantage is a superiority that an organization can gain over its competitors by providing the same value at lower prices or charging higher prices for providing greater value through differentiation, Business Dictionary (2015). Grobler et al (2011:9) noted that in the past the focus of Human Resources (HR) was an administrative one (traditional HR) with focus on personnel issues, more recently HR has been recognized as being contributory to the organization’s overall strategy. HR is therefore an integral part of achieving competitive advantage. One such HR practice that enables competitive advantage is in training and development of its staff. Noe et al (2012:98) noted that in the knowledge...
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...Sample Questions for your reference: April & July 2013 Part 1 1. Critically assess the strengths and weaknesses of ‘best practice’ models of HRM strategy? 2. Outline and discuss the main obstacles hindering or preventing HR departments from delivering strategic HRM 3. What should organisations consider when developing a reward strategy? 4. How can recruitment and selection processes contribute to strategic HRM? 5. Discuss the main features of a Learning Organisation. Why is it important in a strategic HRD approach to organising development? 6. Which mechanisms of employee involvement would you recommend using as part of your employee relations strategy and why? Part 2 Question 1 Critically evaluate the role that performance management systems play in the delivery of SHRM. Discuss the main mechanisms used in PMS and explain the different options that can be used within them. Use organisational examples as appropriate to support your answer. Question 2 For developmental activity to be deemed ‘strategic’ organisations need to shift the focus from a training’ to a ‘learning’ approach. Discuss this proposition in the context of development activity supporting individual and organisational change. Question 3 Critically evaluate the use of competency based approaches in modern HR strategies. Explain in detail how they may be used in one specific area of HR such as performance management. Use organisational examples as appropriate to support your answer. ...
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...Question 1: provide a definition/ description of strategic planning process, addressing the critical issues/questions the process takes into account. Answers (a) Strategic planning process is an organization’s process, which is designed to identify a long-term goal or direction to develop the organization, and put into practice. Strategic planning guides conversations about an organization’s purpose, helps integrate perspectives from multiple stakeholders, and provides the steps to develop goals and objectives that will move the organization’s forward. (b) The specific issues would be various due to different standards and analysis techniques which applied to strategic planning. However, generally it is critical to cover these aspects as follows. Identifying the nonprofit organization's direction and mission. What’s the reason of the organizations exist? What do the organizations try to accomplish? How do the organizations to do to achieve their goals? What are the organization’s guiding principles? Evaluating the Internal and External Environment, Clarifying Critical Issues An assessment of internal environment Strengths and weaknesses An assessment of the external/market environment All organizations are under the operations with complex political, social and macroeconomic changes, so a sensible plan must reflect the assumptions that management people makes about the external environment under their study in various factors, such as economic and demographic...
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... | | |Quality Management and Productivity | Copyright © 2010, 2009, 2005, 2004, 2003 by University of Phoenix. All rights reserved. Course Description This course examines the concepts of continuous improvement and quality management, viewing quality as a systematic process that improves customer satisfaction. The course covers methodologies that will aid managers in assuring that the organization's quality system is effectively meeting the organization's continuous improvement goals. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Goetsch, D. L., & Davis, S. B. (2010). Quality management for organizational excellence: Introduction to total quality (6th ed.). Upper Saddle River, NJ: Prentice Hall. All electronic...
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...Final Research Report - 7051-141-1 Colin Brand Page 1 of 240 EXPLORATORY STUDY ON HOW THE CEO FACILITATES THE STRATEGIC MANAGEMENT PROCESS WITHIN SMALL/MEDIUM SIZED COMPANIES ON THE JOHANNESBURG STOCK EXCHANGE (R10 – 80 MIL TURNOVER) A Research Report presented to the GRADUATE SCHOOL OF BUSINESS LEADERSHIP UNIVERSITY OF SOUTH AFRICA FINAL RESEARCH REPORT In partial fulfilment of the requirements for the MASTERS DEGREE IN BUSINESS LEADERSHIP UNIVERSITY OF SOUTH AFRICA BY COLIN GEORGE BRAND “A true leader has the confidence to stand alone, the courage to make tough decisions and the compassion to listen to the needs of others. He does not set out to be a leader, but becomes one by the equality of the integrity of his intent” (Douglas McArthur) Final Research Report - 7051-141-1 Colin Brand Page 2 of 240 ACKNOWLEDGEMENT PAGE This report is dedicated to the following exceptional people in my life, without whom, this would not have been possible. Special mention is to be made of Lindsay, my wife, for all her support. • Lindsay, Tamara, and Kyndra-Lee for their support and tolerance during a long and trying time. My sincere thanks and appreciation is extended to: • Professor Makin for her guidance. • Dr Sidney Shipham for his guidance. • The CEO’s, for affording me the opportunity to survey their environment as well as the Functional Managers, Supervisors and other members of companies who assisted by taking the time to complete the survey. • Professor...
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...a much larger strategic scheme of a firm. The basic strategic process that any firm goes through begins with a vision statement, and continues on through objectives, internal & external analysis, strategic choices (both business-level and corporate-level), and strategic implementation. The firm will hope that this process results in a competitive advantage in the marketplace they operate in. VRIO falls into the internal analysis step of these procedures, but is used as a framework in evaluating just about all resources and capabilities of a firm, regardless of what phase of the strategic model it falls under. VRIO is an acronym for the four question framework you ask about a resource or capability to determine its competitive potential: the question of Value, the question of Rarity, the question of Imitability (Ease/Difficulty to Imitate), and the question of Organization (ability to exploit the resource or capability). * The Question of Value: "Is the firm able to exploit an opportunity or neutralize an external threat with the resource/capability?" * The Question of Rarity: "Is control of the resource/capability in the hands of a relative few?" * The Question of Imitability: "Is it difficult to imitate, and will there be significant cost disadvantage to a firm trying to obtain, develop, or duplicate the resource/capability?" * The Question of Organization: "Is the firm organized, ready, and able to exploit the resource/capability?" Question of Value The basic...
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...Strategic Management of Human Resources Section A: (Take around 15 minutes to answer each question, 1 or max 1.5 pages for each question) 1. What do we mean by the terms ‘Best fit’ and ‘Best practice’ to describe SHRM (Strategic Human Resource Management). Which is better? Use any short case examples to illustrate your discussion? The best answers will be offering a sharp definition, discussion of the key differential factors associated with the models and a critique of the issues and tensions organizations face. The best answers will introduce the strategy process behind the models, planning, competence and the flow from the business strategy. They will be able to focus around the vision of the organization the values and how this is worked through with better examples. 2. How are Human Resource Departments responding to the challenge of SHRM? Answers will use the Ulrich or similar framework and assessing the challenges HR faces with respect to becoming strategic actors and business partners. They will be able to offer more contemporary information / discussion updating progress toward becoming business partners and change agents with some examples beyond the basic module guide. This will offer a critical and challenging view point. They will offer a comprehensive update on what it means to measure HR value added, develop the function around consultancy and basic service functions and be able to offer more on audit and the relationship with other line...
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...Qualification structure and syllabus CIMA Chartered Management Accounting Qualification 2010 December 2008 Contents CIMA now designs its qualifications in what we believe to be a unique way. Based on rigorous international primary research with all of our key stakeholders and involving the participation of over 6,000 individuals and organisations – members, students, employers (both existing and potential), CIMA tuition partners, universities and our examiner and marker team – we have designed a professional finance training and development solution that is second to none. I commend this revised CIMA Professional Qualification to you. It will be examined for the first time in 2010, so there is plenty of time to absorb the exciting changes contained in the pages that follow. A qualification focused on the future – fit for purpose, relevant and unique I am honoured to introduce the new 2010 Chartered Management Accounting Qualification to all of our stakeholders. With seismic shifts occurring in the world’s economy, coupled with accelerating concerns about the sustainability of our planet, never before has there been a greater need for organisations to train and develop their people to manage the impact of these changes. With this revised qualification CIMA remains true to its long and proud history of providing finance professionals with a difference – Chartered Management Accountants – who combine management and finance skills in a unique way and who fully understand...
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