...evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly [i.e. regularly] to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment., or a new social, financial, or political environment. ------------------------------------------------- Strategic Management – An Ongoing Process by GE Consult on Wednesday, December 16, 2009 at 8:59am December 16, 2009 by Fred Victor The term “globalization” is not new, what is more, it is more rapid and pervasive nowadays. Significant reductions in barriers to international commerce since the mid-1970s have resulted in markets and industries becoming increasingly integrated across nations. In fact, distance is becoming a shrinking barrier. Markets are globalizing rapidly, due to technological advancement particularly in computer technology, as are the firms that competing. As a result, strategic management will be more significant as the pace of business nowadays. Managing change has become the "silver bullet" in seeking the final component of successfully managing strategy, process, culture and people in most modern organizations. Furthermore, staying competitive in the face of demographic trends, technological...
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...services have a low impact on the business strategy at hand but ensure smooth maintenance of operations (Wright, McMahan, Snell & Gerhart, 1998). Such examples may include payroll processing and record-keeping, general employee services. Traditional services are services which have some impact on daily running of the business and have some strategic elements necessary to maintain the businesses objectives. That is, they form the practices and systems to ensure execution of strategy, including recruitment and staff selection, training, and performance management, compensation, and industrial relations (Wright et al, 1998). These services have impacts on both an operational and strategic level. Transformational services have a high impact on a strategic level. These are the “macro” services which have the biggest impact on a business in moving towards achieving their objectives and strategies. These services have a large impact on the way the business operates and staffing, creating long-term capability and adaptability (Wright et al, 1998). Examples may include workforce planning, policy and work practice procedure development/changes, cultural change and strategic redirection. Question 2: In developing Human Resources services what factors need to be taken into consideration? There are many factors which must be considered when developing services for a business. These may include the external environment, the needs and strategies of managers on all levels of the business...
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...HR Strategy Survey Instrument for Key Leaders INTRODUCTION “Human Resources as Strategic Partner” is one of the critical success factors in the Strategic Alignment system. This critical success factor is defined as follows: Human resources (HR) professionals act as consultants with managers to develop, implement, and assess human capital policies and practices to achieve the organization’s shared vision. Senior leaders, managers, HR professionals, and key stakeholders contribute to the human capital vision and the agency’s broader strategic planning process. In order for an agency to be strategically aligned, key leaders must be involved. This requires HR staff to coordinate with stakeholders and managers in achieving the agency’s mission, goals, and organizational objectives. The following are potential results of strategic alignment in the area of HR: HR professionals and key stakeholders are involved in the agency strategic and workforce planning efforts. The HR function is adequately staffed and prepared, in competencies and resources, to proactively partner and consult with line managers. The HR staff reaches out to other organizational functions and components through facilitation, coordination, and counseling to provide integrated mission support. USING SURVEY INSTRUMENTS Conducting surveys is an excellent method of collecting feedback to ensure HR staff is successfully coordinating with the agency’s key leaders. Such surveys can be distributed: In a paper-based...
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...system in the U.S. There is no real following for the cars in the U.S., and most U.S. consumers have never seen one. Those people who do own the cars in the U.S. are extremely devoted and have clubs and associations such that owning a Pinnacle is a lifestyle decision into which an owner can build a lot of social status. Now, Aero has access to a leading market technology that will allow them to build very fuel efficient automobiles in the compact and subcompact range. The cars can be produced and sold in the $15,000-$20,000 range. GenMax has decided to attempt to penetrate the U.S. and North American markets with these new cars. Your task is to decide what branding strategy to use, how to organize the U.S. unit, and even to decide how to brand and name the cars. They are asking you to develop the strategy, and how to develop the relationship with Aero in the U.S. market – basically run the show! Your Role You are the new Director of Business Development for Aero Motors, a subsidiary of GenMax. The Board of GenMax has tasked you...
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...International Management Part 1: The Global Manager’s Environment Part 2: The Cultural Context of Global Management Part 3: Formulating Strategy Part 4: Global Human Resources Management The University of Western Australia Strategic Planning and Strategy Strategic Planning • The process by which a firm’s managers evaluate the future prospects of the firma and decide on appropriate strategies to achieve long-term objectives Strategy • The basic means by which the firm competes., that is, its choice of business or businesses in which to operate and the ways in which it differentiates itself from its competitors 63 How does globalisation, risk, political-legal-ethical and culture affect the value chain that a firm manages and operates to create ‘value’ = strategic planning +strategy = STRATEGIC FIT between ‘inputs’ and ‘outputs’ Porter, M (1985) Competitive Advantage: creating and sustaining superior performance. NY: Free Press The University of Western Australia Steps in Developing International and Global Strategies Mission and Objectives Environmental Assessment and Scanning (PEST, PESTEL, Risk) Internal and Competitive Analysis (SWOT) Global Integrative and Entry Strategy Alternatives (Export, JV, Strategic Alliance, CAGE) Strategic Choice, Implementation, Feedback, and Control (Governance) Copyright ©2014 Pearson Education Realize that much of international business is conducted through strategic alliances...
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...Putnam Resort on Friday, April 25, 2014. Your presentation (not to exceed 25 minutes) will be followed by questions from the executives. These executives will evaluate your team based on your presentation’s substance, professionalism, effectiveness, and teamwork. A detailed copy of the evaluation form will be distributed at a later date. In order to complete this task, you must first get to know Google and its broad scale domestic (US) and international operations. Through extensive research, you’ll come to know more about Google’s mission and business model, which depends heavily on certain strategic vehicles as well as gathering comprehensive information about the needs, tastes and desires of businesses and individual consumers. This strategy ultimately depends on Google’s strategic positioning relative to its nearest competitor(s) in each of the major business arenas described in the assigned cases. We have selected two Harvard Business School cases that are critical reading for each student. They provide invaluable background, an overview of Google and its main competitors, and information about various sectors of the Internet and its related businesses. Of course, you will need to conduct extensive research that moves you beyond the time of the case in order to accurately assess...
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...Strategy defined What is strategy? The Oxford Dictionary describe strategy as A plan of action designed to achieve a long-term goal or overall aim; or the art of planning and directing overall military operations and movements in a war or battle; It is derived from the Greek word “stratégia” that means generalship (Oxford dictionary. 2015). A company’s strategy consist of the competitive moves and business approaches that managers are employing to grow the business, attract and please customers, compete successfully , conduct operations and achieve the targeted levels of organizational performance (Hough et al. 2008:4). Strategy is all about how the anticipated goals will be achieved. It works like a recipe where different elements are used in a more or lesser manner to achieve an end result. In an organisation the leader ensures all members are heading in the right direction and completing their goals and objectives. Organisations lacking leadership quickly implode as members scatter in all directions attempting to achieve conflicting goals in a silo-orientated environment. However, this can be overcome if leaders communicate and execute business strategies. A business strategy is a leadership plan that achieves a specific set of goals or objectives such as: * Developing new products or services. * Entering new markets. * Increasing customer loyalty. * Attracting new customers. * Increasing sales. * Decreasing costs. (Baltzan, 2013:16) Leaders also...
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...Strategic Plan Part II – Environmental Analysis and Setting Strategic Goals Dietrich Burton HCS/589 April 25, 2016 Kelly Imlay Strategic Plan Part II – Environmental Analysis and Setting Strategic Goals In today’s paper we will discuss part II of our Strategic Plan for Sonexus Health A Cardinal Health Specialty Company. In this segment we will evaluate the significance and implications of an external environmental analysis in the development of a strategic plan. Next we will use the SWOT analysis and provide an assessment of Sonexus Health Care organization. In this section we will review how this organization will accomplish their mission, goals, and objectives for strategic planning. We will also evaluate how the organization will respond to internal and external challenges. And finally, we will incorporate our SWOT analysis findings into clearly stated goals and objectives for a 3 to 5 year period by focusing on the strategic plan areas. The purpose of an environmental scanning is to implement your findings into a strategic plan for our organization. This includes growing trends, the consumers that are being served and provide opportunities for improvement. “Definitions of the term abound, but in essence it refers to the means by which organizations gather information on changing conditions and incorporate those observations into a process where necessary changes are made. The right information, combined with the right adaptations, can determine an organization's...
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...y of Technology, Ko lkota skd_hooghly@yahoo.co.in ABSTRACT Emplo yer branding is defined as a targeted longterm strategy to manage awareness and perceptions o f emplo yees, potential emplo yees and related stakeho lders wit h regards to a particular firm (Sullivian, 2004). This includes direct and indirect experiences of dealing wit h the firm. Like actual product branding, organizat ions have started to invest emplo yer branding as emplo yees are the internal customers of the firm. The emplo yer brand builds an image confirming the organizat ion as a good place to work. Today, an effect ive emplo yer brand is essent ial for compet it ive advantage. Wit h the liberalizat ion of the Indian econo my in 1991 and subsequent economic reforms, Indian co mpanies are becoming internat ionally strategic to utilize the emplo yer brand to attract and retain talent which leads to expand and growth of the business. This paper gives some concept on emplo yer branding and also to examine how India n organizat ions with a posit ive corporate reputation can attract and retain emplo yees. It also focusses to explain the importance, applicabilit y, outcome and creat ing an effect ive emplo yer branding strategy o f Indian companies. Key words: Emplo yer branding, Branding, Indian corporation, 1. Introduction and significance of employer branding in modern...
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...rnlr vul. 46. 2006/1. pp. 85-107 William P. Wan/Amy J. Hillman mir Mo_", International Review © Gabler Verlag 2006 One of These Things is not Like the Others: What Contributes to Dissimilarity among MNE Subsidiaries' Political Strategy? Abstract • We study why multinational enterprise (MNE) subsidiaries adopt dissimilar politic'll strategies. and seek to advance the understanding of international political strategy from an MNE parent-subsidiary perspective. • Drawing on the MNE parent-subsidiary literature. we contend factors at the subsidiary. corporate. and host country levels contribute to subsidiary political strategy dissimilarity. We test our hypotheses with a sample of U.S. MNE subsidiaries within Western Europe. Key Results • The results demonstrate that dissimilarity in MNE subsidiary political strategy is attributed to a combination of subsidiary. corponlte. and host country factors. Authors William P. Wan. Associate Professor of Management. Departillent of Global Business. Thunderbird. The Garvin School of lmernalional Managcment, Glcndale. Arizona. USA. Amy J. Hillman. Associate Professor and Dean's Council of 100 Scholar. Departmcnt of ManagemCIlt. W.P. Carey School of Busilless. Arizona State University. Tempe. Arizona. USA. Manuscript receivcd July 2004. final rcvision rcceived Septcmber 2005. mlr vol. 46. 200611 85 William P. Wan/Amy J. Hillman Introduction Multinational enterprises (MNEs). defined as those corporations that "engage...
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...Captain Jack Sparrow in Pirates of the Caribbean: "True enough, this compass does not point north." "...Where does it point?" "It points to the thing you want most in this world.” “If everyone is thinking alike, then no one is thinking.” Saskatchewan as a Player in the Global Resources Market in 2014 Jean-Pierre Colin Capital Markets Strategies JPColin@Sympatico.Ca Mobile: 416-573-4300 2 Synopsis Jean-Pierre Colin draws from his 34 years of experience and wisdom as an investment banker and mining executive to outline criteria for success for mining companies. He also discusses how junior mining company executives in Saskatchewan must “think differently” because: seemingly small decisions by management can affect corporate survival in these times of crisis in the financial markets the new sources of capital that have emerged in the last decade impose important changes in corporate strategy the mining industry in Saskatchewan as a group must promote innovative initiatives to enhance it’s continued importance in the provincial economy. IF EVERYONE IS THINKING ALIKE, THEN NO ONE IS THINKING 3 Survival of an Industry Charles Darwin: “It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.” Is this a down cycle or a fundamental and permanent shift in capital markets? For how long? What will make it revert? Who will survive? IF EVERYONE IS THINKING ALIKE...
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...MANAGE OPERATIONAL PLAN BSBMGT515A Table of contents 1. Introduction (1) 2. Operational planning within The Iconic (2) 3. Components of operational plan (3) 4. Budgets (4) 5. Forecasts (5) 6. Environmental Scanning (6) 7. Key performance indicators (7) 8. Acquire Resources (8) 9. Monitor Operational Performance (9) 10. Monitor and review operational performance (10) 11. TOWs analysis on The Iconic (11) 12. Summary (12) 13. Reference list (13) Introduction (1) Planning means factoring in all aspects of what needs to happen in the future in order to ensure that it all gets done in the time available. In a business environment we use operational plans to ensure that targets are met within given timeframes and to satisfactory quality standard. There are three types of plan used at different levels within an organisation: * Strategic plan * Business plan * Operational plan The strategic plan is developed for long-term planning and covers a period of about five years. The strategic plan specifies the missions and goals of the organisation including decisions on how resources, both capital and human, will be allocated to meet organisational goals. A business plan sits between the highest-level plan (the strategic plan) and the operational plan. A business plan is a formal statement of a set of business goals and objectives that are to be achieved to meet the strategic objectives of the organisation. The...
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...The Business Idea We have come to a time in Singapore where the cost of owning a car has rocketed skyhigh. Just when people in Singapore are still dwelling on the exorbitant Certificate of Entitlement prices, moods were dampened further with the recent declaration concerning cars. With reference to the Singapore Budget 2013, the maximum loan tenures have been reduced to five years which will also mean that there is a possibility where banks might increase their car loan interest rates. In addition, loan for cars is to be capped at 60% LoantoValue and cars with more than $20,000 of vehicle’s purchase price is capped at 50%. That is to say, if a car cost $100,000, the car buyer will have to fork out at least $40,000 to $50,000 in cash(Singapore Government 2013). Hence, many citizens in Singapore has found it increasingly challenging to cope with the tough new curbs on car loans immediately on the following day of the introduction. On top of that, owners of luxury cars will also have to fork out more money to pay for the increase in tax rates introduced in the budget. Bundling the 2013 budget with ever increasing fuel prices and maintenance cost, it will be hard for Singapore to not be the most expensive country to own a car. Despite all these new measures, there will still be a strong need for people in Singapore who...
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...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...
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...OUTLINE a. Module learning outcomes b. Themes and topics c. Learning supports 3. MODULE DELIVERY SCHEDULE a. Session arrangements 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...
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