...Management by Objectives (MBO) Aligning Objectives With Organizational Goals - n many organizations, it's hard to remember a time when non-managerial employees were kept in the dark about strategy. We're often reminded about the corporate mission statement, we have strategy meetings where the "big picture" is revealed to us, and we're even invited to participate in some business decisions. We're also kept aware of how our day-to-day activities contribute to corporate goals. This type of managing hasn't been around forever. It's an approach called Management by Objectives (MBO), a system that seeks to align employees' objectives with the organization's goals. In this article, we'll look at how you can use MBO to motivate and engage your team. About the Tool Peter Drucker developed MBO, and published it in his 1954 book, "The Practice of Management." It received a great deal of attention, and it was widely adopted until the 1990s, when it seemed to fade into obscurity. The idea may have become a victim of its own success; it became such an integral part of modern business practice that it may no longer have seemed worthy of comment. Today, it has evolved into the Balanced Scorecard, which provides a more sophisticated framework for essentially the same process. Advantages and Disadvantages Using Management by Objectives with your team offers several benefits. First, MBO ensures that team members are clear about their work and how it benefits the whole organization. It's...
Words: 1699 - Pages: 7
...CHAPTER 1 INTRODUCTION 1.1 Company Profile PT Telkom Indonesia Tbk (Persero), or referred to as "Telkom", is the largest telecommunications services company in Indonesia. Formerly, Telkom known as Perumtel which then transformed into a limited liability company since November 1991. Telkom is a state-owned enterprise that operates in the telecommunications and network services sector in Indonesia. Given its status as a state-owned enterprise whose shares are traded on the stock market, the Government of the Republic of Indonesia is the Company’s majority shareholder about 52,6%, while the remainder of the Company’s common stock is owned by the public about 47,4. Telkom’s shares are traded on the Indonesia Stock Exchange (IDX), the New York Stock Exchange (NYSE), the London Stock Exchange (LSE) and publicly offered without listing in (POWL) in Japan. To run the business portfolio, based on the Board of Executive, Telkom classify subsidiaries into four groups, they are; cellular business led by Telkomsel, international business led by Telin, multimedia business led by Telkom Metra, and infrastructure business led by Telkom Infra. Telkomsel PT. Telekomunikasi Selular, abbreviated as Telkomsel, was established in 1995, manifesting the spirit of innovation to develop Indonesian telecommunications into a successful leader. To achieve this vision, Telkomsel continue accelerating its expansion of telecommunications network throughout Indonesia by simultaneously empowering the...
Words: 1742 - Pages: 7
...Discuss your approach to customizing HRM strategy to business strategies. 4. Emphasize the importance of establishing HRM strategies to improve a competitive advantage. Issues of overlap in a new client organization. According to Stewart & Brown (2012) good human resource management practices help successful organizations meet the needs of their employees, customers owners and society. .A company must have a strategic plan to for dealing with important changes that are likely to occur both in the marketplace and among its workforce. Employee productivity increases when organizations hire and motivate employees effectively. Good human resource practices create more satisfied employees who in turn work harder to satisfy customers. Organizational leaders use information about environmental opportunities and threats to form their corporate strategies. Important elements of organizational environment include demographic and cultural trends, economic and political conditions, and technological innovations and development. Leadership strategic human resource framework includes Bargain...
Words: 1417 - Pages: 6
...Title page Table of contents Task-1 a. Definition of the term ‘market failure’ and how Tropical Salvage has built a good rapport with the government officials 3 b. Definition of the concepts and their application for Tropical Salvage 5 c. Budget income statement for tropical salvage’s Seattle store for 2015 6 d. The areas that need to be brought when planning international logistics 7 Task-2 7 a.Analysis of the Indonesian market and its implications to Tropical Salvage 7 b.Herzberg’s two-factor theory and assesses how Tropical Salvage is practicing this model in its HR practices 8 c. Identification and explanation of different items with reference to the case study 10 d. ‘cost based pricing’ and ‘resource usage’ and its applicability to Tropical Salvage 11 Task-3 11 a. competitive advantage and value chain analysis and critical evaluation of their applicability to Tropical Salvage 11 b. Differentiation between ‘Organizational management’ and ‘performance management’ and the importance of ‘performance management’ for an organization 13 c. capital budgeting and recommendation of an appropriate for expansion plan for Tropical Salvage in setting the Seattle store 14 d. description the role of marketing 16 Task-4 16 a.Characteristics of the consumers of (LOHAS) and how Tropical Salvage has aligned its business model in order to target this segment 16 b.Group management and managing workforce diversity and its importance and the challenges of...
Words: 6859 - Pages: 28
...[pic][pic] [pic][pic] [pic] [pic] 1. What is the organizational philosophy of Martex with respect to the controller function? What do you think of it? Should Rendell adopt this philosophy? Martex Corporation has adopted a close relationship between the corporate controllers and the division controllers. Each business unit manager does not have his own staff. Divisional controllers informed directly to the corporate controller. Martex management looks for transparency and impartial access to information, whether operational or financial, at each business unit so that: a) Each business unit's goal will be more congruent with the company's goal b) Top management will be able to make more sound decisions if corporate staff will have access to unbiased information c) Corporate will have better control of the information reported to top management in order to avoid sugar coating of the financial information and operating statistics d) Corporate will have better and quicker response on red flag information on each business unit (for example, a business unit that overspent on marketing expenses instead of previsional budget) We believe that this philosophy can be a real strong asset for the company because it enables producing reliable reports for each division and data statistical budget. We believe that the organizational philosophy used by Martex is a key effective factor for...
Words: 531 - Pages: 3
...When a firm creates, formulates, and implements a strategy that adds value and competitive advantage that is a strategic business plan. A strategic business plan is the layout or outline that specifies how a firm is going to reach their plans or goals over a certain period of time. The plan can be very specific or very broad. It can focus on one part of the business, as well as a whole focusing on all functions within a company. This plan is important to an organization’s long-term success because it gives the company a direction or purpose in which to set goals and carry them out. A strategic business plan assists a company in providing products and services in a more efficient and effective manner. Without a strategic business plan a firm will have a difficult time maximizing the potential of its resources. New opportunities and key resources for growth or improvement will be limited or perhaps even missed. A strategic plan is important to both small and large businesses. I believe that for any company, no matter the size, it is equally important to have a strategic business plan in place. This will assist in understanding customer needs and be able to adapt to constant changes and new trends taking place within the company. With a successful strategic plan, a company has a great opportunity for becoming very successful. Innovation plays a key role in developing a company that has potential for growth and success. Innovation provides the company with ways to maintain a competitive...
Words: 277 - Pages: 2
...Table of Contents Company Background3 Strategic Planning3 Strategic Capacity Plan 5 Portfolio Management Process6 Project Selection Criteria…………………………………………………………………………. Project Management Plan Risk Assessment…………………………………………………………………………………… Change Management Plan…………………………………………………………………… Resource Utilization…………………………………………………………………………… References………………………………………………………………………………………… Company Background VIZIO, Inc. was founded by William Wang in 2002 with the idea that everyone deserves to own the latest technology. Over the years, the company has grown from having three (3) employees at its inception in 2002 to having nearly 200 employees. VIZIO ‘s primary line of business is televisions (TV), and remains the first American brand in over a decade to lead the United States in LCD HDTV sales. While VIZIO excels in LCD sales, the company continues to add new innovative products to their portfolio such as blue ray players, tablets, notebooks, desktop pc’s, home theater sound bars, wireless subwoofers, motorized wall mounts, as well as innovative apps for smart TVs. VIZIO’s uncompromised technology and incredible value has continued to make VIZIO America’s best-seller of LED, LCD, and HDTV and the industry leader in sales growth. Company Vision: “To be the industry leader in consumer electronics by consistently delivering the latest technologies at the most affordable price.” Strategic Planning Company Mission The company mission is where the vision meets value...
Words: 3267 - Pages: 14
...best by enterprise comparison!!! ] [ Learn from each other by enterprise comparison!!! ] © SAP AG 2002, The HR Balanced Scorecard, Dr. Martina Schuh, Page 4 Integration with Benchmark Provider: Data Flow Payroll Benchmark Provider SEM Measure Catalog (HR Measures) Administration 0100010101 1011001010 1101001010 1010100011 1010100101 1011010101 1001010101 XML Time Management HR Benchmarks Business Content Benchmarks from Provider 0100010101 1011001010 1101001010 1010100011 1010100101 1011010101 1001010101 XML Developments BW Rel. 3.0 HR InfoCube for external Benchmarking © SAP AG 2002, The HR Balanced Scorecard, Dr. Martina Schuh, Page 5 Measures: Data Flow SAP SEM Objective/Measure Actual Plan B.mark Develop key skills Strategic skills available 17 26 25,5 Employee retention 73 70 68 Improve corporate culture Employee satisfaction 9,1 8,5 9,0 Measure Builder Measure definition Balanced Scorecard MEASURES are defined from a purely business point of view in SAP SEM using the Measure Builder Queries InfoCubes The definition contains the possible data sources, for example BW queries, that could be used to determine the value of a measure For each measure in a scorecard, VALUES like Actual, Plan, and Benchmark can be used for evaluations For each value, a specific source of data in BW has to be chosen from the possible sources...
Words: 2276 - Pages: 10
...Strategic Analysis of Ben & Jerry’s Homemade, Inc. Can B&J Serve a Double Scoop of Being Green and Making Green? ESM 210 Professor Delmas Final Paper November 21, 2000 Alex Tuttle Vicky Krikelas 1 BEN & JERRY’S ICE CREAM Table of Contents INTRODUCTION……………………………………………………………………………. MARKET DESCRIPTION………………………………………………………………….. FIRM DESCRIPTION………………………………………………………………………. THE MISSION STATEMENT……………………………………………………………… 1 1 1 2 GENERAL CORPORATE STRATEGY…………………………………………………… 2 CORPORATE ENVIRONMENTAL STRATEGY………………………………………… 4 STRATEGY ANALYSIS……………………………………………………………………... 8 Five Forces Model of Competition…………………………………………………….…8 SWOT Analysis…………………………………………………………………………..11 Key Success Factors……………………………………………………………………..11 STRATEGIC CONSISTENCIES……………………………………………………………..12 STRATEGIC DISCONNECTS……………………………………………………………….13 UNILEVER ACQUISITION………………………………………………………………….14 RECOMMENDATIONS & CONCLUSION………………………………………………...15 BIBLIOGRAPHY……………………………………………………………………………...17 Figures FIGURE 1. FIGURE 2. FIGURE 3. FIGURE 4. FIGURE 5. ANNUAL REVENUES…………………………………………………………..4 ANNUAL RECYCLING………………………………………………………...7 PORTER’S 5 FORCES MODEL ………………………………………………9 SWOT ANALYSIS………………………………………………………………11 KEY FACTORS OF SUCCESS………………………………………………..12 2 3 INTRODUCTION Ben & Jerry’s is an innovative leader in the super premium ice cream industry. The company blends a commitment to provide all natural, high quality ice cream with a commitment towards social activism and environmental...
Words: 6660 - Pages: 27
...a workforce scorecard which is the measurement of intangible assets, specifically, human capital within an organization. The author was clear and concise in the presentation of the related concepts. Managerial Style of the Author My impression of the author’s presentation throughout the article was that he was easily understood. The author was very clear in introducing the reasons for the needs of scorecards. The author began the article by identifying the key reasons that scorecards are needed within an organization. He explained that scorecards contribute to the accuracy of a company’s Human Resource operational and cost efficient matters. The author goes on to clarify HR metrics and its importance on the execution of a business’s strategic goals as well as the CEO’s decision making. Strengths Throughout the article the author was clear. I felt that the author’s main strength was the way that he organized the article. The brief explanation of what a scorecard is and its functions gives the reader insight on the entire HR concept. He follows the explanation with a sample of an employee scorecard. I felt that this put the reader into perspective. The reader could clearly understand the author’s thoughts. This was followed by a step by step schedule of how the scorecard results were drawn. He identifies questions that need to be answered within a scorecard. The key elements of HR metrics are not in the HR function, but in the workforce, Huselid...
Words: 521 - Pages: 3
...b. Student engagement c. Office hours arrangements 4. ASSESSMENT DETAILS a. Assignments b. Module assessment components i. Pre module assignment ii. Group project iii. Examination 5. GRADING a. University grading policy b. Grade descriptors for assessment components 6. CONCLUDING COMMENTS APPENDICES 5 6 10 12 16 19 21 3 Welcome message Welcome to this unit on Business Policy. Dr Yousef Eiadat will be joining me in teaching this course. In this unit we aim to build skills in Strategic planning – the analysis behind strategic decisions, the crafting of strategies and the implementation of them to ensure organisational success. Strategy involves managing the interface between an organization and its external environment. To this end, the first three topics develop skills in strategic analysis, leading to consideration of the positioning of an organisation in its strategic environment. These cover internal and external analysis, and the options in setting strategic...
Words: 4379 - Pages: 18
...Riyadh, Saudi Arabia Cell: +966 59 9410000 / +966 59 2440161; Res: +2 01005400001 (Egypt) Email: ahmed.abdelalim@hotmail.com / abdelalim.ahmed@yahoo.com STRATEGIC MARKETING MANAGER / STRATEGY & BUSINESS PLANNING MANAGER Strong credentials in providing information and directions to promote organizational growth OBJECTIVE: Proactive decision maker, seeking to be a Senior Management Professional with a well established and globally reputed organization by utilizing the following strengths... ⇨ Possessing 12 years of expertise in marketing, strategic planning, business planning, commercial planning, project management, business process, performance management and team management. ⇨ Demonstrated exposure in Customer Relationship Management (CRM), Customer Service, Business Architecture, Governance Models, and eTOM & ITIL implementations. ⇨ Proficient in developing business cases, marketing plans, business proposals, governance models & frameworks, business plans and exploring new business management techniques and methodologies. ⇨ An efficient Team Leader, combining sound communication, interpersonal, mentoring, negotiating and problem solving skills with analytical & leadership capabilities to ensure operational excellence and strategic execution. Academics • Studying Strategic Marketing Management ‘‘Chartered Marketer’’ as part of the Continued Professional Development program (CPD) – United Kingdom, Chartered Institute of Marketing (in...
Words: 1856 - Pages: 8
...1. Porter five forces : The five forces are Rivalry, Supplier power, Threat of substitutes, Buyer power and Barriers to entry and are used to analyse the industry context in which the organisation operates. It draws upon industrial organization (IO) economics to derive five forces that determine the competitive intensity and therefore attractiveness of a market . Three of Porter's five forces refer to competition from external sources. The remainder are internal threats. Ansoff Matrix : The Ansoff Growth matrix is another marketing planning tool that helps a business determine its product and market growth strategy. Ansoff’s product/market growth matrix suggests that a business’ attempts to grow depend on whether it markets new or existing products in new or existing markets. The output from the Ansoff product/market matrix is a series of suggested growth strategies which set the direction for the business strategy. These are described below Market penetration Market penetration is the name given to a growth strategy where the business focuses on selling existing products into existing markets. Market penetration seeks to achieve four main objectives: * Maintain or increase the market share of current products – this can be achieved by a combination of competitive pricing strategies, advertising, sales promotion and perhaps more resources dedicated to personal selling * Secure dominance of growth markets * Restructure a mature market by driving out...
Words: 306 - Pages: 2
...MEMORANDUM DATE: 11/12/12 TO: Mrs. Sabine Turnley FROM: Team 5 (Jamie Briscoe, Bradley Veenendaal, Jessica Kolb, Rebecca Christie, Kody Lynn) SUBJ: Sara Lee Corporation in 2011: Has Its Retrenchment Strategy Been Successful? EXECUTIVE SUMMARY: In 2005, Sara Lee placed a strategic plan in action to transform the business into a more tightly focused food, beverage and household products company. This involved the divestiture of weak-performing business and product categories, which included eight business units. Although the divestiture would decrease Sara Lee’s revenues, it was believed that concentrating their financial and managerial resources on a smaller number of business units would be beneficial. Sara Lee struggled at the beginning of the retrenchment strategy but has been progressing upward in the last couple of years. ANALYSIS: Strategy Analysis Sara Lee’s corporate strategy was to transform the company into a more tightly focused company by focusing on their food, beverage, and household products. In order to accomplish this, Sara Lee planned to divest their weak performing business units and product categories which accounted for $7.2 billion in sales. Although the divestitures would decrease Sara Lee’s revenues from $19.3 billion to $12.3 billion, they believed it would be better to concentrate on its financial and managerial resources on a smaller number of business segments. These smaller number business segments had prospective markets...
Words: 2034 - Pages: 9
... Differentiation strategies: The firm ability to offer products and services that are perceived by the customer as being superior and unique relative to those of its competitors like Coca-Cola in the soft drink industry...... A value chain can be described as the key activities engaged in by the organisation or industry.: Value chain analysis may benefit an organisation in a number of ways including: - Value chain framework: complements other recent initiatives like strategic cost management, which refers to the simultaneous focus on reducing costs and strengthening an organisation's strategic position. This commonly involves taking a longer-term view of cost management and decision making - Provides a foundation for strategic alliance decisions. A value chain framework serves as the foundation for considering decisions such as outsourcing of particular parts of the value chain and for considering the formation of strategic alliances with say a distributor. In this way, the value chain serves as a strategic tool. - Focuses on activities. The central feature of the value chain is its focus on activities and processes rather than functions or departments. This makes identification of improvements across segments more likely. - Encourages a broader organisational view. This is particularly for accounting staff and business unit managers. Management accounting...
Words: 3025 - Pages: 13
