...Factors of HR Planning Affecting Company’s Competitive Advantage Prepared By: Trishita Chowdhury 081 358 030 Tahmina Jahan 082 302 030 Sharmin Akhter Khan 082 635 030 Tahasin Ali 093 0523 530 Tania Sultana 093 0541 030 Md. Abu Sayed 093 0216 030 Naved Mohammad Khan 101 0549 530 Prepared By: Trishita Chowdhury 081 358 030 Tahmina Jahan 082 302 030 Sharmin Akhter Khan 082 635 030 Tahasin Ali 093 0523 530 Tania Sultana 093 0541 030 Md. Abu Sayed 093 0216 030 Naved Mohammad Khan 101 0549 530 Prepared For AKM Mominul Haque Talukder (MHT) Senior Lecturer Course: Human Resource Planning Course Code: HRM 360 North South University Date of Submission: 11th April 2012 April 09, 2012 A.K.M. Mominul Haque Talukder Senior Lecturer, School of Business & Assistant Proctor North South University Bashundhara, Dhaka 1229 Dear Sir, Subject: Research Report on Level of Satisfaction of the employees of Avery Dennison. We have the honor to present to you the research report entitled ‘Factors of Human Resource Planning Affecting a Company’s Competitive Advantage’. The main purpose of this report was to assess the relationship between the seven different variables of human resource planning and the independent...
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...STRATEGIC MANAGEMENT Strategic management consists of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages. This definition captures two main elements that go to the heart of the field of strategic management. First, the strategic management of an organization entails three ongoing processes: analysis, decisions, and actions. That is, strategic management is concerned with the analysis of strategic goals (vision, mission, and strategic objectives) along with the analysis of the internal and external environment of the organization. Next, leaders must make strategic decisions. These decisions, broadly speaking, address two basic questions: What industries should we compete in? How should we compete in those industries? These questions also often involve an organization’s domestic as well as its international operations. And last are the actions that must be taken. Decisions are of little use, of course, unless they are acted on. Firms must take the necessary actions to implement their strategies. This requires leaders to allocate the necessary resources and to design the organization to bring the intended strategies to reality. As we will see in the next section, this is an ongoing, evolving process that requires a great deal of interaction among these three processes. Second, the essence of strategic management is the study of why some firms outperform others. Thus, managers need to determine how a firm...
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...strategy implemented and managed stand a better chance and have better competitive advantage over their counterparts. Strategic management is used by organizations to analyze and learn from their internal and external environment. It is about going forward (where to from here) It is about establishing a strategic direction. It is about establishing a strategic direction Strategic management is also about implementing strategies that would satisfy customers. The nature of strategy, which needs to be managed, is formulated around the 5 Ps (Louw and Venter 2010:15) Plan, pattern, position, perspective and ploy. As a plan, strategy has been viewed as something that an organization has, and strategy as a perspective viewed as something that people do. Strategy is influenced by extra organizational practices and inter-organizational practices. Therefore there is a reciprocal relationship between intra and extra organizational strategic activities. - Strategy as a plan: Provides overall direction and course of action. As a plan, strategy formulation is a formal process. This approach ahs been criticized for being a rational, top-down approach, hoever research shows that formal planning contributes towards better strategic decision making. - Strategy as a position: concerns the determination of products. As a position, strategy looks downwards and outwards, towards the external competitive market. - Strategy as a perspective: refers to the organizations way...
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...Cand. Merc. IMM INTERNATIONAL MARKETING AND MANAGEMENT “Is there an optimal strategic approach in gaining superior financial performance in a hypercompetitive environment?” Topic no. 2 Authors: Kristofer Edholm Alexandra Johansen Advisor: Magdalena Dobrajska Date of Hand-in: 19/12 – 2012 “IS THERE AN OPTIMAL STRATEGIC APPROACH IN GAINING SUPERIOR FINANCIAL PERFORMANCE IN A HYPERCOMPETITIVE ENVIRONMENT?” ABSTRACT Hypercompetition has made competition more aggressive, and effective strategies have become vital in order for companies to remain competitive in the vigorous marketplace. The paper will study the two most commonly used theories within strategic planning, the Industrial Analysis and the Resource-Based View, to see which is more effective in order to increase financial performance in a hypercompetitive environment. The paper will first look at the overall effect of hypercompetition on the marketplace. Secondly, the Industrial Analysis effect on financial performance in hypercompetition will be examined, and thirdly, the effect the Resource-Based View has on financial performance considering hypercompetitive challenges. Finally, the paper ends by concluding that a strategy based on RBV will have greater effect on financial performance in a hypercompetitive environment, which suggests that managers' should spend more resources concerning companies' internal environment than the external in order to increase their return on investments. 2 INTRODUCTION ...
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...Week II Reflection Paper for Team C Strategic planning is not a new concept and is commonly referred to as the solution to many organizational problems. Strategic planning is a continual and systematic process in which decisions are made about intended future outcomes. Planning takes time, work, and the ability to confront difficult obstacles. Financial outcomes are used as a component to measure the success, failure, and strategy effectiveness. S. Scott (2012) stated in the second paragraph, “The focus of a strategic plan is usually on the entire organization, while the focus of a business strategic plan is usually on a product or service”. Without a realistic plan and obtainable goals an organization has no direction. Market opportunity is a factor in shaping a company’s strategic plan, which is why the advantage and disadvantage evaluation process is important. Team C discussions validate that the following week two course objectives are easily understood and are clear to the team: • Objective 2.1 - Measure an organization’s internal and external environments using environmental scanning. • Objective 2.2 - Determine relevant business competitive strategies. Objective 2.1 is easily understood as it relates to environmental scanning, which is the possession and utilization of information about trends within an organizations internal and external environment. Environmental scanning is similar to the SWOT (strengths, weaknesses, opportunities, and threats) analysis...
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...Chapter 2 Strategic Management and the Entrepreneur 1) The strategic management process: Topic: Introduction 2) A small business's "aggregation of factors that sets it apart from its competitors" is its: Topic: Building a Competitive Advantage 3) How is the strategic planning process for small companies different from that for large Page Ref: 41 Topic: Building a Competitive Advantage 4) ________ focuses everyone's attention and efforts on the same target market. It is an expression of what the owner believes in. Topic: The Strategic Management Process 5) Answering the question "What business am I in?" defines the company's: Topic: The Strategic Management Process — Develop a Clear Meaningful Mission 6) Once the vision and mission are established, the entrepreneur needs to: Topic: The Strategic Management Process 7) ________ are positive internal factors that contribute towards accomplishing the company's objectives. Topic: The Strategic Management Process 8) When the small business owner assesses her company's strengths and weaknesses, she is dealing with the ________ business environment. Topic: The Strategic Management Process 9) Corey notices a "backlash" against health food among people who eat out. He decides to open a restaurant that stresses "good home cooking," heavy with gravies, breads, oils, etc. Corey has identified and is trying to capitalize on a(n) ________ in the market environment. Topic: The Strategic Management...
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...Amazon Strategy Analysis The strategic planning processes. Amazon and other large enterprises to build your organization with a view - from the view of the company’s mission, goals and objectives are developed. Many times during the life of an organization is necessary for the organization to redefine the objectives of the organization on the basis of profitability, customer concerns, and the internal, external and international challenges. • Value Chain • Resource Based View • Financial Analysis Using an Analysis of the Value Chain Amazon Amazon has developed an analysis of the value chain of its Competitive Advantage “own internal operationally better assess how you can add value and sustain competitive advantage have used the value chain model of Michael Porter,"Create and maintain superior performance. " Example of a Strategic Plan Model - Amazon Internal Analysis Tools, Strategic Planning, Strategic Planning Models Primary activities and support activities Primary activities are those needed to produce a product or service to the end customers. These activities generally include: • Inbound Logistics: receiving goods from suppliers, and store and move the good • Operations: Manufacturing or assembly of the product • Outbound Logistics: The shipment of goods to wholesalers, retailers or directly to the final customer • Marketing and Sales: Marketing involves customer needs understanding, communicating...
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...CHAPTER 1 The Nature of Strategic Management True/False Introduction 1. The underpinnings of strategic management hinge on managers gaining an understanding of competitors, markets, prices, suppliers, distributors, governments, creditors, shareholders and customers worldwide. Ans: T Page: 4 2. Although the Internet has increased in popularity, it has actually led to increases in company expenses. Ans: F Page 4 3. Consumer e-commerce is five times greater than business-to-business e-commerce. Ans: F Page 4 What Is Strategic Management? 4. Optimizing for tomorrow the trends of today is the purpose of strategic management. Ans: F Page: 5 5. Even though useful, strategic planning has been cast aside by corporate America since the early 1990s. Ans: F Page: 5 Resource allocation is included in strategy-formulation activities. Ans: T Page: 5 6. The terms strategic management and strategy implementation are synonymous. Ans: F Page: 5 7. A vision statement is, in essence, a company’s game plan. Ans: F Page: 5 8. Strategy implementation is often considered to be the most difficult stage in the strategic-management process because it requires personal discipline, commitment and sacrifice. Ans: T Page: 6 9. The final stage in strategic management is strategy implementation. ...
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... What is Competitive Advantage? Competitive advantage. It is a superior performance relative to other competitors in the same industry or the industry average. Sustainable - competitive advantage. When a company is able to outperform its competitors or the industry average over a prolonged period of time. Competitive disadvantage Underperformance relative to other competitors in the same industry or the industry average. Competitive Parity Performance of two or more firms at the same level. The firm that possesses competitive advantage provides superior value to customers at a competitive price or acceptable value at a lower price. What is strategy? Strategy describes the goal – directed actions a firm intends to take in its quest to gain and sustain competitive advantage. Strategy is about creating superior value, while containing the cost to create it. Strategy is not a zero-sum game. It is not always the case that one party wins while all others lose. Win- win scenarios: when competitors cooperate, occasionally, with one another to achieve strategic objectives, we call this co-opetition. Strategic positioning is staking out a unique position in an industry that allows the firm to provide value to customers, while controlling costs. Strategy as a Theory of How to Compete. It provides managers with a roadmap to navigate the competitive territory. A firm´s strategy can be seen as its managers’ theory about how to gain and sustain competitive advantage. (A theory...
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...www.ccsenet.org/ijbm International Journal of Business and Management Vol. 5, No. 7; July 2010 Competitive Advantages and Strategic Information Systems Mahmood Hemmatfar, Ph. D. Faculty Member of Islamic Azad University, Brojerd Branch, Iran Mahdi Salehi, Ph. D. (Corresponding author) Assistant Prof. Department of Accounting and Management Ferdowsi University of Mashhad, Iran Tel: 98-912-1425-323 E-mail: Mahdi_salehi54@yahoo.com Marziyeh Bayat, Ph. D. Faculty Member of Islamic Azad University, Hamedan Branch, Iran Abstract Information edge and 3rd millennium predisposed so many of revolutions. Business organization with emphasize on information systems is try to gathering desirable information for decision making. Because of comprehensive change in business background and emerge of computers and internet, the business structure and needed information had change, the competitiveness as a major factor for life of organizations in information edge is preyed of information technology challenges. In this article we have reviewed in the literature of information systems and discussed the concepts of information system as a strategic tool. Keywords: Strategic information systems, Information technology, Information sciences, Decision support systems, Competitive advantages 1. Introduction The potential usefulness of different kinds of Information System (IS) for environmental management is well recognized (Díez et al, 2009). Perhaps we can say advances in information...
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...Review of Literature Merging strategic and human resource (HR) planning activities has become a critical source of competitiveness for all organizations. Executives must be able to integrate strategic initiatives and HR practices to gain competitive advantage in the face of increasingly volatile technological innovation, customer expectations, and global competition. Technology innovations nowadays do not guarantee success as competitors can copy it easily. Customer expectation are increasing dramatically and so as the fierce competition from foreign companies. HR professionals must learn to integrate strategic and HR planning as well. Past literature suggests that it is necessary for an organization to obtain knowledge about the situation of labor in and out of the organization which can help them to make successful decisions regarding hiring, retaining and developing human resources. In today’s contemporary organization, employees’ skills and knowledge can make a positive impact on the firm‘s productivity. (Guzzo, Jette & Katzell, 1985). And so, developing employees’ knowledge, skills and abilities via training is tightly related with the competitive advantage of the organization. According to Patel & Cardon (2010) compensation is vital for contemporary organization as it contributes to attract and retain high skilled workers with superior salaries, and it encourages a desired stakeholder behavior regarding recognition and legitimacy. Minbaeva et al. (2003)...
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...www.ccsenet.org/ijbm International Journal of Business and Management Vol. 5, No. 7; July 2010 Competitive Advantages and Strategic Information Systems Mahmood Hemmatfar, Ph. D. Faculty Member of Islamic Azad University, Brojerd Branch, Iran Mahdi Salehi, Ph. D. (Corresponding author) Assistant Prof. Department of Accounting and Management Ferdowsi University of Mashhad, Iran Tel: 98-912-1425-323 E-mail: Mahdi_salehi54@yahoo.com Marziyeh Bayat, Ph. D. Faculty Member of Islamic Azad University, Hamedan Branch, Iran Abstract Information edge and 3rd millennium predisposed so many of revolutions. Business organization with emphasize on information systems is try to gathering desirable information for decision making. Because of comprehensive change in business background and emerge of computers and internet, the business structure and needed information had change, the competitiveness as a major factor for life of organizations in information edge is preyed of information technology challenges. In this article we have reviewed in the literature of information systems and discussed the concepts of information system as a strategic tool. Keywords: Strategic information systems, Information technology, Information sciences, Decision support systems, Competitive advantages 1. Introduction The potential usefulness of different kinds of Information System (IS) for environmental management is well recognized (Díez et al, 2009). Perhaps we can say advances in information...
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...role in the strategic planning process. Even though marketing positions are incorporated in corporate level, most of them are represented at the functional level of an organization (Chawla, 2003). Kotler and Keller (2008) outlines the core definition of marketing, which says that ‘Marketing is the analysis, planning, implementation and control of carefully formulated programs designed to bring about voluntary exchanges of values with target markets for the purpose of achieving organizational objectives”. Marketing can be described as a strategy based analysis on planning that are used to combine experience, education and perspectives of the whole management team of the organization effectively by all means of developing focus in management and competitive advantage in the market arena. Gilligan and Wilson (2009) define Strategic Marketing Planning as “a typical development of strategies that are based on the planning team’s assessment of the market and perceptions of managerial expectations and organizational capabilities”. Therefore, the nature of strategic marketing planning and the development of the marketing plan show an in-depth understanding of the knowledge of thinking about the organization’s environment, managerial objectives, organizational capabilities and things that affect the process of planning and implementation. This report highlights the different perspectives of writers with regards to the perspectives taken by Kare- Silver on tactical and strategic marketing...
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...I have been looking at some of the work of Rob Grant to analyse resources and capabilities, mainly examining work in and around Resource Based Theory of Competitive Advantage and implications for Strategy Formulation. So hopefully have covered some differing aspects to use for Amazon. Strategic Planning Processes. I believe an effect method for Amazon to undertake such an analysis would be to examine: • Value Chain • Resources Based View • Financial Analysis Use of a Value Chain Analysis for Amazon Amazon have developed a value chain analysis of its’ own to internal asses how it can operationally best add value and maintain a competitive advantage. They have used the value chain model from Michael Porter's book, "Competitive Advantage: Creating and Sustaining Superior Performance." [pic](Source: Bua Consulting) Example of a Strategic Plan Model - Amazon Internal Analysis, Strategic Planning Tools, Strategic Planning Models Primary Activities and Support Activities Primary activities are those needed to produce a product or services for the end customers. These activities typically include: • Inbound Logistics: receiving goods from suppliers, and storing and moving those good • Operations: Manufacturing or assembling the product • Outbound Logistics: Sending the goods to wholesalers, retailers or directly to the end customer • Marketing and Sales: Marketing involves understanding customer needs, communicating those needs...
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...requires strategic thinking in companies to develop good corporate strategies. Only when developing effective strategies, corporate can remain the competitive position. By creating strategy, organization can remain the competitive advantage which other companies are unable to implement. Corporate strategy is not only for large firms but also for small business. However, there is a quotation suggests that “Strategic management is nothing more than a set a o myths, parables and homilies that give senior management a feeling of comfort that they can control the destinies of their organizations. It has neither theoretical substance nor empirical content and is delusional in its intention. The future is not only unpredictable it is also unknowable”. This assignment shall argue the citation by considering different factors. First, the assignment will identify the meaning of strategy and it does matter. And then the essays will have brief discussion of industry matter for the performance of an organization. Finally, the assignment will draw conclusion through the relevance of strategy in management practices. 1. What is strategy and does it matter? There are many ways to define strategy by various researchers. Henry Minzberg (1971) defines “Strategies are both plans for the future and the patterns from the past”. According to Johnson and Scholes (2005), strategy as follows: "Strategy is the direction and scope of an organisation over the long-term: which achieves advantage for the...
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