...Companies Operations The company is a national financial planning organisation who offers a full range of financial services to a wide variety of clients. Vision Statement “We provide financial planning services through a national network of Adviser Practices staffed by qualified financial planners. Our advisers are dedicated to helping you to secure your financial future and achieve your lifestyle choices. We develop a deep understanding of your needs and risk profile before delivering tailored solutions to your wealth creation problems. Our goal is to work together with you on your journey over your lifetime. As one of Australia’s most respected financial planning groups, our Financial delivers unique and appropriate solutions for the creation and management of wealth.” Due to the fact that the company has not published a Vision Statement, the above passage has been taken off the WB website to analyse as such. As can be seen it is directed toward clients rather than at employees of the company but still gives a broad directional indication to managers of where to direct their operations. Overall as a vision statement the above does not provide the motivation and future direction that a properly worded vision statement can and is meant to provide. The vision is forward-looking and directional in that it gives employees an idea of what services they are to provide. It also delivers feasible objectives for employees to work towards. However, as a vision...
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...Igor Ansoff: From Strategic Planning to Strategic Management. 1) Background Igor Ansoff, also known as “The father of strategic management” was a business manager, engineer and applied mathematician that had emigrated from Vladivostok to New-York in 1934 when he was 17. After obtaining a degree in General engineering at the Stevens Institute of Technology followed by a PhD in applied mathematics, Ansoff joined the US Naval reserve. In the years during which he served his country, Ansoff was an intermediary with the Russian Navy during the Second World War. Igor Ansoff has worked for 8 years (1948-1956) for the Rand Corporation (Research And Development), an American think tank that worked and made researches for the United States armed forces. Then, in 1957, he joined Lockheed Corporation, an aerospace company, where he was required to develop a diversification plan, as the vice president. After teaching at the Graduate School of Industrial Administration (Carnegie Mellon University of Pittsburgh) in 1963, the European Institute for Advanced Studies in Management of Brussels from 1973 to 1975 and between 1973 and 1986 at the Stockholm School of Economics, he worked as a consultant in many renowned multinationals such as Philips, IBM, General Electric, etc. After a brilliant career, Ansoff passed away on July the 14th 2002. Nevertheless, this did not impeach his legacy from standing tall after his death. The annual “Igor Ansoff Award” created in 1981 in the Netherlands...
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...UNIVERSITY OF BOTSWANA DEPARTMENT OF POLITICAL & ADMINISTRATIVE STUDIES MPA 713 – STRATEGIC PLANNING & MANAGEMENT IN THE PUBLIC SECTOR TERM PAPER Discuss the relationship between strategic planning and strategic management as well as indicate the importance of the latter in the attainment of organizational goals. KEALEBOGA R. MOOKETSI 200301911 Introduction This paper intends to discuss the relationship between strategic planning and strategic management as well to indicate the importance of the latter in the attainment of organizational goals. . In order to lay a proper foundation for the essay, it is important to start by looking at the concept of strategy and linking it to planning and management. Defining Strategy A strategy is a plan of action designed to achieve a specific goal. Strategy is all about gaining (or being prepared to gain) an advantage over adversaries or best exploiting emerging possibilities. According to Jeffrey Pfeffer (1997:4), a strategy is a method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem. It can also be defined as the art and science of planning and marshaling resources for their most efficient and effective use. Kvint, Vladimir (2009, pg. 67), defines strategy as “a pattern in a stream of decisions" to contrast with a view of strategy as planning’’ while Max McKeown (2011, pg. 342) argues that "strategy is about shaping the future" and is the human attempt to get to "desirable...
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...Strategic Management and Planning A strategic business plan will help the organization define its mission and vision, giving the organization a sense of purpose and direction. In addition a strategic plan will help the organization asses its strengths and weaknesses, and develop short-term strategies that are compatible with long-term objectives. A strategic plan will balance the use of resources, people, structures, and technologies in order to achieve company goals with the least amount of risk. Four Functions of ManagementPlanning is the first function of the [pic]management process, as without effective planning[pic] one [pic]cannot effectively organize, control or lead[pic] the organization. Planning is used as a tool to help identify potential opportunities and threats as well as to reduce long-term risks. Planning is also used to more effectively establish goals and objectives for long-term success and ensure that the organization use all its resources toward achieving its goals. The small business that I would like to start would be a daycare center. This would be not only a daycare center, but also a learning daycare center. The daycare center would include certified teachers who will dedicated to teaching students what they need to know to achieve greatness. Before I can start my business a strategic plan must be set in place. This paper is intended to address the four functions of management that I will need as well as the strategic plan that I will...
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...Final MGMT 435 Strategic Management and Planning 02/12/2016 1. How does Blue Nile create trust in buying an expensive item like an engagement ring * 2. How does BN educate potential customers * 3. How does BN get users to buy expensive diamonds on a mobile device 4. How does BN make the diamond buying process hassle free * 5. How can BN grow internationally if the internet is not always available* 6. Can BN expand its product offerings beyond diamond and jewelry* 7. Is BN “stuck in the Middle” APA 3-5 pages at least 4 references Blue Nile, Inc. is considered the world’s largest online retailer of diamonds. Founded in Nineteen-ninety nine, the Blue Nile offers gold, platinum, pearl and silver jewelry. The company’s headquarters is located in Seattle, Washington and operates in over twenty five countries, with products offered through their United States, Canada and United Kingdom websites. As of January 2012, the Blue Nile employed two hundred and six full-time employees and six part-time employees. Blue Nile creates trust in purchasing an expensive piece of jewelry by educating customers, offering competitive prices that are twenty to thirty five percent less than traditional retailers, lifetime insurance, prompt shipping, exceptional customer service and the opportunity to build their own features. Blue Nile educates prospective customers about their diamonds through their informative website. The website offers information about...
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...discuss the Conversation opened. 1 read message. Skip to content Using Gmail with screen readers A faster way to get your GmailYes, get Chrome nowNo thanks × Kedumetse Google+ Profile Icon Search Gmail COMPOSE Labels Inbox (10,291) Starred Important Sent Mail Drafts (9) Circles Personal Receipts Travel Unwanted More CollapseHangouts ...
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...Explain the contingency viewpoint. Give an example from your own work experience. Then, using concepts from Chapter 8, discuss how a contingency viewpoint might impact the organization as a whole. Use supporting references. The contingency viewpoint is a point of view where a manager, or a supervisor, has to take an approach to a situation that is contingent upon the individual or the environment (Kinicki, 2016, p. 252). When taking this approach, you as a manager must ask the question: “What method is the best to use under these circumstances?” (Kinicki, 2016, p. 252). In my experience, work and life in general, I always use this viewpoint. I think to that my background in psychology somewhat forces me to use this viewpoint. My psychology background forces me to use this viewpoint because it has given me a deeper understanding into how different every person is. So I know that each person is going to respond to things differently, and that must be taken into consideration when managing people. When I am faced with a situation and I have to make a decision, I almost always take into consideration the individual and the environment. A common one is with my toddler and why she might be acting a certain way when we are somewhere. Maybe we are in a new place and she is scared and starts crying, how do I handle the situation? I have to take into account the individual (my toddler) and the environment (the mall). To get handle on the circumstances, or the situation, I would talk...
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...Human Resource Management Overview HRM 300 March 2, 2015 Human Resource Management Overview Human Resource Management is key to every business. The human resource department is in charge of not only hiring and training, but they are mediators, and determine salaries. Human resource department must have a working knowledge of many areas such as training needs and investigating problems. Human Resource Management maximizes the productivity of an organization. They also treat employees with respect while keeping them safe. This paper will give a description of human resource management. This document will also discuss how the human resource department fits in the strategic plan of a business. The only interaction that peoples have with HR is a brief moment, when he or she is first hired or turn in the resignation. The human recourse management department is an irreplaceable part of any organization. Human resource can be thought of as a personnel expert. Human resource personnel choose who is hired, set up training, and development of employees. The federal government has encouraged and sometimes demanded diversely in the workplace. Without a dedicated human resource management team, this would be difficult to do. Businesses require specialized skills and because of this, human resources have to be carefully monitored who was hired. Human resources do not want to hire and train someone who does not have the skills to do the job required. Human resources play a large role...
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...Criticize the use of strategic planning as a means to achieve organisational objectives. Strategic planning is the process by which managers of the firm analyze the internal and external environments for the purpose of formulating strategies and allocating resources to develop a competitive advantage in an industry that allows for the successful achievement of organizational goals Rothaermal (2012). Strategic planning cannot provide a precise and detailed picture of the future. Method of describing in detail the future of an organization is not a detailed description of its internal state and the situation in the external environment, but rather a mixture of qualitative wishes towards the state in which the organization wants to be in the future, what position to take in the market and in the business, what organizational culture to have. Strategic planning enables an organisation to determine its growth trajectory by analysing internal and external factors that may affect its growth in the long term. Due to its complexity and heavy commitment to strategic goals, strategic planning is rarely implemented successfully Fuller (2004). Often, the poor implementation is the reason for failure, although it is more often the case of misaligned operational and strategic goal. For instance, the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (ZIM-ASSET) is a strategic plan to turn around the economy. Therefore as much as strategic planning identifies constraints and...
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...A guide to strategic human resource planning By Workinfo.com, www.workinfo.com 1. Introduction A comprehensive Human Resource Strategy plays a vital role in the achievement of an organisation's overall strategic objectives and visibly illustrates that the human resources function fully understands and supports the direction in which the organisation is moving. A comprehensive HR Strategy will also support other specific strategic objectives undertaken by the marketing, financial, operational and technology departments. In essence, an HR strategy should aim to capture "the people element" of what an organisation is hoping to achieve in the medium to long term, ensuring that:- • • • • it has the right people in place it has the right mix of skills employees display the right attitudes and behaviours, and employees are developed in the right way. If, as is sometimes the case, organisation strategies and plans have been developed without any human resource input, the justification for the HR strategy may be more about teasing out the implicit people factors which are inherent in the plans, rather than simply summarising their explicit "people" content. An HR strategy will add value to the organisation if it: • • articulates more clearly some of the common themes which lie behind the achievement of other plans and strategies, which have not been fully identified before; and identifies fundamental underlying issues which must be addressed by any organisation or business...
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...MSTM- 6023 Strategic Planning & Policy Development Unit 2: Strategic Planning- Case Study Analysis 1 Drucker, P., 2008: Case # 13- What are “Results” in the Hospital? Table of Contents Overview ……………………………….………………………...……….. 2 Problem Statement ……………………….……………………...………… 2 Alternatives ………………………………….………………...…………... 3 Pros and cons ……………………………….………………………………4 Course of Action ……………………………..……………………………. 8 References ………………………………………………………………... 12 Overview Robert Armstrong, an ex-Navy sailor managed a successful family business for twenty years. During this time he also served as the chairman of the hospital board of directors. Healthcare had always been an interest if his. Armstrong had planned to become a physician before being drafted to the Navy while in college. After many years of business management he had begun to resent the time spent travelling and growing his business. He had secured what he described as an “over competent” team of managers within his family business and was ready for change. When the opportunity to become the hospitals administrator became available Armstrong accepted the challenge. However not being experienced in heath care management he was initially reluctant. Armstrong consulted with the hospital’s chief of medical services to inquire, “How do I measure performance?” Familiar with the definition of...
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...Human Resources Management Contents Executive Summary 3 Strategic Functions of HR 4 Recruitment & Selection 4 Safety 5 Relationship with Employees 5 Performance Management 5 Benefits and Compensation 6 Training and Development 6 Strategy based HRs 6 HR Planning and Organization's Objectives 7 HR Purpose Statement 7 HR Mission Statement 8 HR goals 8 Action Plan for each Functional Area 10 Reference...................................................................................................................................... 11 Executive Summary Company ABC is a large company based in the US. The company has been targeting the business of Human Resources Outsourcing nearly for 30 years now since it was established. It is now ranked one of the leading firms in Human Resources Outsourcing industry in US. All these achievements have been achieved due to its ability to provide comprehensive human resources outsourcing solutions not only to large firms but also to the small to medium-sized companies. This is the core competitiveness of Company ABC The company is currently experiencing growth which enhances its current dominance in the domestic market due to expansion in operations. Due to this expansion, the company has been consistently experiencing an increase in operational cost. This is due to numerous branches that have been opened across the country. This brought difficulty in management and as a result the department decided to establish a shared center where...
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...Strategic Plan, Part I: Conceptualizing a Business BUS/475 November 21, 2011 Strategic Plan, Part I: Conceptualizing a Business Strategic planning is an important part of a building a successful organization. Strategic planning is the company’s future visions. Strategic planning allows the company to set goals for how to accomplish success. These goals are important to the company and its management team. These goals allow the management team to know what the plan will be for the future and guide them in planning how to meet those goals. Strategic planning will assist the management team in identifying the company’s vision and mission statements. By defining the vision and mission statements, the company has a purpose and direction that proves the company to be different from competitors in the market. The purpose of this paper is to discuss the vision and mission statements; the values of the organization and what factors assist in determining the strategic plan for Teddy Bear Home Care. Define the Business, Product, and Mission Statement Teddy Bear Home Care is a one-stop shop for pediatric patients who require home care needs such as durable medical equipment, pharmacy needs, respiratory therapy, rehabilitation therapy, private duty nursing, and skilled nursing needs. Children will be able to go home from a hospital stay with the care they will need from one company who can provide all their needs. Parents can be assured that their children will be taken...
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...Strategy and Planning Joshua W. Holden MGT/521 January 25th, 2016 Ron Stirpe Strategy and Planning We have all seen businesses and organizations with amazing products and ideas we were absolutely sure would take off being extremely successful and staying around for a very long time. However, after time passed and society’s needs changed, these organizations, with once amazing ideas and products, faded away into obscurity. Kodak is an example of this scenario, having filed for bankruptcy in early 2012 standing by the notion that perhaps if they did not move into digital, the imaging world would never move into digital (Morozov, 2009). Many may ask and wonder why this was the end for such companies. The answer is quite simple. Without an organization at all levels properly setting goals, planning accordingly, and accurately assessing all factors going into creating the proper organizational strategy, they will surely be destined to failure. It is my belief a strong organizational strategy, evolving to the changing market and time, is in every way key to the long term success of any business. Proper goal setting is a very important part of planning and seeing an organizational strategy be successful and move a company forward. The three types of goals coming into play are strategic goals, tactical goals, and operational goals. Strategic goals are set by and for those in top management positions and are targeted on the whole organization. A strategic goal could be...
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...THE ROLE OF CEO IN THE STRATEGIC PLANNING SYSTEM IN NIGERIAN BANKS BY DR. (MRS.) S. L. ADEYEMI DEPARTMENT OF BUSINESS ADMINISTRATION UNIVERSITY OF ILORIN ABSTRACT The purpose of this paper is to analyze the CEO’s strategic role in the strategic planning system in the Nigerian banking industry. 69 Chief bank planners were selected for the study from banks that are generally considered to be at the leading edge of bank strategic planning in Nigeria. The paper explores the key dimensions of CEO’s participation in and relationship to bank strategic planning. First the impact of the rapidly changing internal and external environment on bank planning was examined. The survey findings indicating the current involvement of banks CEOs in specific dimension of corporate strategic planning are evaluated. However, while CEOs recognise the need, strategic planning has never really caught on as a basic bank management tool. INTRODUCTION The strategic importance of the Chief executive officer (CEO) in big organization is widely recognized. Lorange, (1986). The magnitude of the CEO’s potential impact on the success of an organization highlights the need to more fully understand the ways a firm may attempt to ensure that CEO acts in a manner that maximizes firm success. As every banker in Nigeria is well aware today the changes that have occurred in commercial banking over the years, together with emerging trends in “how business is done have added a new challenging dimension...
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