...global operations which includes countries like Canada, Latin America, and Europe. Harley-Davidson has two different business segments which include motorcycles and financial services. The current economic conditions have affected all industry including motorcycles. While Harley-Davidson has proven to do well during the recession, they have also faced some challenges. As the economic conditions change, Harley- Davidson has implemented new marketing strategies and e-commerce to gain a competitive advantage. Resources Strong reputation and brand name Materials as Needed (MAN) (Wheelen 16-2) Computer-Aided Design (CAD) system (Wheelen 16-3) Experienced CEO with 38 years of service in the company (Wheelen 16-5) Harley-Davidson Museum Harley-Davidson licensing for non-riding public (Wheelen 16-18) Large number of exclusive Harley-Davidson dealerships and independent dealers (Wheelen 16-9) www.harley-davidson.com...
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...Friedman called: “The World is Flat”, he discusses how “jobs, knowledge, and capital” are capable of crossing boarders much quicker and with a lot less resistance than they once previously had only a short while ago (Wheelen., Hunger, Hoffman, & Bamford, 2015, p. 8). As for the role of strategic management in globalization, which is specified in the textbook, has become an increasingly important method when it comes to retaining a correct order of global occurrences and situating a firm for an extension of their opposition, based on the reason of gaining more knowledge when it comes to the expansion of modern goods for establishing personal financial systems (Wheelen., Hunger, Hoffman, & Bamford, 2015, p.8). An example of this would be a company such as Target that opened up franchises in Canada about 3 years ago mostly because their final major franchise named Zellers was failing (Austen, 2011).. Question 2 In accordance to the information in which the textbook provides, “a business’s sustainability is modernly known today as the triple bottom line”. In 1994, John Elikgton used this phrase in order to give way that firms should compose three separate bottom lines in their yearly statement (Wheelen., Hunger, Hoffman, & Bamford, 2015, p.8). In reference to the textbook, these three bottom lines consist of firstly: “a Traditional Profit/Loss”, secondly: “a People Account” which is the responsibility of the firm, and thirdly: “a planet account”, which...
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...environment”., Hax and Majluf (1991,p.2) The above definition by the authors proclaims that strategy is multi–dimensional and clings together all the resources and efforts in aiding the firm to bring about changes forced by the environment. Although the statement speaks about strategy being multi-dimensional, it is very general. According to Johnson, Scholes & Whittington (2009:3) Strategy is “the direction and scope of an organisation over the long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations”. The definition above gives a better understanding of the term strategy than the one given Hax and Majluf. The statement by Johnson, Scholes & Whittington (2009:3) accords with the significance of direction and scope of the firm and also that strategy is a long term plan. Consideration is given to the fact of configuration of resources in fluctuating environment for realizing stakeholder expectations and reaching goals. What is Strategic Management? According to Rue and Holland (1989, p.3), Strategic Management is a process by which the management figures out the long-term scope and performance of the firm by assuring establishment, proper application and constant appraisal of the strategy....
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...SAVONIA UNIVERSITY OF APPLIED SCIENCES UNIT OF BUSINESS AND ADMINISTRATION, KUOPIO THE IMPORTANCE OF STRATEGIC MANAGEMENT A case study of H&M Ding Huiru Business Administration Bachelor’s thesis International Business April 2011 2 SAVONIA UNIVERSITY OF APPLIED SCIENCES SAVONIA BUSINESS Degree Programme, option International Business Author(s) Ding Huiru Title of study The importance of strategic management, Case study of H&M Type of project Date Pages Thesis 27.4.2011 59+12 Supervisor(s) of study 1st Antti Iire 2nd Anneli Juutilainen Abstract Executive organization H&M in Kuopio,Finland Hennes & Mauritz (H&M) is a 100 billion Sweden company, engaged in designing and retailing of fashion apparel and accessories. The company offers a range of apparel, cosmetics, footwear and accessories for men, women, children and teenagers. H&M primarily operates in Europe, North America and Asia, and has a presence in over 38 countries. The company is headquartered in Stockholm, Sweden and employs approximately 87,000 people on a full-time basis. This thesis focused on the strategic management of H&M company. The main research problem was to make an in-depth analysis of its marketing strategy and how to implement it. The main research method was a qualitative research by analyzing their company data, annual reports and making interviews with the manager, staffs and customers in Kuopio shop. The thesis starts with a general introduction and some background information...
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...technology ever created. “The board of directors, there has the obligation to approve all decisions that might affect the long-term performance of the corporation. This means that the corporation is fundamentally governed by the board of directors overseeing top management, with the concurrence of the shareholders”(Wheelen, T. L, pg.43) The Board of directors has the responsibility to “1. Effective board leadership including the processes, makeup and output of the board 2. Strategy of the organization 3. Risk vs. initiative and the overall risk profile of the organization 4. Succession planning for the board and top management team 5. Sustainability.” (Wheelen, T. L, pg.44) Within every Board of directors there are inside directors and outside directors. Inside directors are “sometimes called management directors but are typically officers or executive employed by the corporation”(Wheelen, T. L, pg.46). An outside director are sometimes called non-management directors or may be executive of other firms but are not employees of the boards corporation”(Wheelen, T. L, pg.46). Apples board of directors has individuals with so much experience through out the world. There are 8 members of the board and I would like to share a brief summary of each person. Arthur D. Levinson ph. D. is the non-executive chairman of the board, which makes him an outside director. “Levinson has been a co-lead director of Apple’s board since 2005, has served on all three board committees— audit and finance...
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...SAVONIA UNIVERSITY OF APPLIED SCIENCES UNIT OF BUSINESS AND ADMINISTRATION, KUOPIO THE IMPORTANCE OF STRATEGIC MANAGEMENT A case study of H&M Ding Huiru Business Administration Bachelor’s thesis International Business April 2011 2 SAVONIA UNIVERSITY OF APPLIED SCIENCES SAVONIA BUSINESS Degree Programme, option International Business Author(s) Ding Huiru Title of study The importance of strategic management, Case study of H&M Type of project Date Pages Thesis 27.4.2011 59+12 Supervisor(s) of study 1st Antti Iire 2nd Anneli Juutilainen Executive organization H&M in Kuopio,Finland Abstract Hennes & Mauritz (H&M) is a 100 billion Sweden company, engaged in designing and retailing of fashion apparel and accessories. The company offers a range of apparel, cosmetics, footwear and accessories for men, women, children and teenagers. H&M primarily operates in Europe, North America and Asia, and has a presence in over 38 countries. The company is headquartered in Stockholm, Sweden and employs approximately 87,000 people on a full-time basis. This thesis focused on the strategic management of H&M company. The main research problem was to make an in-depth analysis of its marketing strategy and how to implement it. The main research method was a qualitative research by analyzing their company data, annual reports and making interviews with the manager, staffs and customers in Kuopio shop. The thesis starts with a general introduction...
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...for planning and implementing actions that may determine a company’s long-term performance. This will require a business to conduct internal and external scanning and environmental analysis, strategic implementation is required, evaluation, and control. Strategic management encompasses the use of the SWOT analysis, (Strengths, Weaknesses, Opportunities, and Threats), to incorporate strategic planning and industry analysis (Wheelen & Hunger, 2010). Primary Components of Strategic Management In a normative or prescriptive approach to the strategic management model, we would generally reflect an explicit, planned, and rational approach of the process (Ginter & Duncan, 1985). According to the Ginter & Duncan (1985) website, this model was based of empirical research and creates a broader-based model. In this model there are eight stages of this process: (1) establishing the mission; (2) setting objectives; (3) environmental scanning; (4) identify internal SWOT; (5) formulating alternate strategies; (6) strategy selection; (7) strategy implementation; (8) controlling the strategy to ensure success. While the normative strategy hits all the main components of strategic management, there has been a more modern formula created for the strategic management process. In the current model, there is a four phase process. This process includes: Phase One – Basis financial planning; Phase Two – Forecast – based planning; Phase Three – Externally oriented (strategic) planning;...
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...scanning of the environment they are able to make better observations of what the company actually needs to implement. This paper will describe the primary components of a strategic management process, indicate why a strategic management process is needed, and describe the process Ford Motor company uses. Primary Components of Strategic Management Every company requires managers to plan accordingly for the yearly budget. This yearly budget is a time consuming stage and uses minimal analysis and small amounts of environmental information. Forecast based planning is used in this eight stage model process: (1) establishing the mission; (2) setting objectives; (3) environmental scanning; (4) identify internal SWOT; (5) formulating alternate strategies; (6) strategy selection; (7) strategy implementation; (8) controlling the strategy to ensure success. The current model of strategic management process includes a four phase process. The four phases are: Phase One – Basis financial planning; Phase Two – Forecast – based planning; Phase Three – Externally oriented (strategic) planning; Phase Four – Strategic management. All of these characteristics are relatable to the concept of strategic management, which emphasizes “the monitoring and evaluating of external opportunities and threats in light of a...
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...STRATEGIC MANAGEMENT Objective: This course conveys the concept of strategy and its usefulness by exposing students to a variety of organizational situations. It enables students to look at organizations in their totality and appreciates the interrelationship among different functions. It will help students understand the strategy of organizations and thereby enable them in making major decisions, formulating policies and participate in implementation of corporate strategies. Contents: Unit I (6 Sessions) Introduction: Strategic management (SM) , Business Policy (BP) and Business Plan; Basic concepts of SM; Impact of Globalisation and e-Com; Theories of organisational adaptation; Creating a learning organisation; Basic model of SM; Strategic decision making; Impact of Internet; Firm and its environment. Unit II (6 Sessions) Scanning the environment: Environmental scanning; Industry analysis; Competitive intelligence; Forecasting; Synthesis of external factors; ETOP Study. Internal scanning: Organisational analysis; resource-based approach; value chain analysis; Scanning functional resources; Strategic audit; Unit III (6 Sessions) Strategy formulation: Situational analysis: SWOT analysis, TOWS Matrix; Corporate strategy; Strategies for growth and diversification; Process of strategic planning; Stages of corporate development; Portfolio analysis; Corporate parenting; Functional strategy; Core competencies; Strategic choice. Unit IV (6 Sessions) ...
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...Introduction of Starbucks | 3 | 3.0 | Introduction of PEST analysis | 4 – 6 | | 3.1 Political-legal forces | | | 3.2 Economic forces | | | 3.3 Socio-cultural forces | | | 3.4 Technological forces | | 4.0 | PEST components of Starbucks | 7 – 8 | | 4.1 Political-legal component | | | 4.2 Economic component | | | 4.3 Socio-cultural component | | | 4.4 Technological component | | 5.0 | Conclusion | 9 | 6.0 | References | 10 – 11 | 7.0 | Appendixes | 12 | 1.0 Introduction First of all, I would like to thank my lecturer, Miss Kanchini who is providing adequate information about the task which given in this Business Management assignment. For a business to be succeed in the market, each of the business need to analyze their surrounding environment for the purpose of increasing their revenue and to be stayed longer in that particular market. There having two types of environment to be analyzed which are internal and external environment. Internal environment of a business is indicating the strengths and weaknesses of a business that must be identified to do some changes on weaknesses and strengthen the strengths owned. For the external environments which influence the long run decisions of an organization also needed to be analyzed especially for the bigger company so that the business will last longer in the market. There are several types of external environment such as PEST, PESTLE, and STEEPLE analysis. (Wheelen & Hunger, 2006) ...
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...Riordan’s Strategic Plan Team C: MGT/498 May 29, 2014 Riordan’s Strategic Plan Riordan Manufacturing is a Fortune 1000 company that that leads the world in the manufacturing of plastics and plastic injection molding. With more then a billion dollars in revenue, Riordan has decided to shore up their global business by developing a strategic plan that will take the company into the next five years. With global and domestic operations based in Michigan, California, Georgia, and China, Riordan has reviewed their business structure and revealed areas, which require the optimization of operational efficiency throughout company. Along with other companies, Riordan manufacturing shares competitive advantages in several avenues of manufacturing and business. Riordan’s focus on direct selling gives them a competitive advantage, as does their commitment to their employees, customers, and shareholders. Riordan’s commitment to the community is to provide low cost products, while at the same time sustain revenue and profitability growth. Riordan’s strong brand recognition in their industry gives them an advantage just as Apple, DuPont, GMC, and Nike have in their markets. Riordan’s strong engineering and R&D departments are known for their quality. Strategic Plan Over the years Riordan has expanded business operations from development, to large-scale manufacturing and finally to producing state of the art plastic injectors. Riordan expanded...
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...JetBlue Airways: Growing Pains A case report prepared for MG 495 Business Policy Spring II 2014 Paige Pence Jamie Neidholdt Tyler Slayton Ja-ir Gooden Jacob Miller May 4, 2014 JETBLUE AIRWAYS: GROWING PAINS I. Introduction A. Executive Summary 1. Summary statement of the problem: JetBlue Airways was a fairly new airline that was going up against such airlines like Southwest, AirTran, and Delta. Started in 1999, JetBlue Airway was able to turn profits fairly quickly; in 2001 the company had profits of $38.5 million (George & Regani, 2008, 20-4). From there on it seemed that the company would continue to be profitable especially with expansions in the works; moving into areas that competitors ignored, ordering more planes, expanding to the west coast, and building a new terminal at JFK. However, due to various external and internal factors the company once again posted losses in 2005 and 2006. 2. Summary statement of the recommended solution: The problem is that JetBlue is expanding too fast and too soon to keep up. The company needs to slow their growth so that the company can keep up with the pace. Furthermore, the company needs to continue to do what the company does best; superior customer service, low fares, short-to-medium routes instead of offering what the competitors are doing. This is lessening JetBlue’s differentiation from other companies creating just another option for customers. Finally, JetBlue needs to continue to make cuts...
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...Executive Summary: The report of the plant manager for RIO BRAVO IV, a subsidiary of Packed Electrical a division of General Motors identifies mistakes made by top management. These mistakes clearly indicate top management failure to use project management principles in starting up a new manufacturing branch. It also points out the learning outcomes when good efforts are placed at the right places and with the right human talent employed. In the new economy organizations have to focus on the customer, environment and its resources and change their approach in doing business (paradigm shift). Senior management has to give clear goals and utilize the Total Quality Management (TQM) philosophy. Failure by top managed clearly state the objective of the project meant that it had no master plan and schedule. When the project was initiated the objective was to gain worldwide respect not to satisfy a customer and let the respect follow as an outcome. Top management failure is more evident through lack of proper feasibility study on the location and the customer getting customer Users Requirements Specifications (URS). There was no plan in place as such the project team did not exist at all. The machines were hastily installed; lay out set as per other factories not designed to cater for this customer. The location was never considered as what effect it might cause to the customer. Top management did not address the diversity issue an as a result communication was hampered by language...
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...External Environment ICO Ford Motor Corp The increase in global warming is affecting everyone: from the farmer, entrepreneur, small business owner, and large corporations, to the consumers. It is up to the larger corporations to help lead the way in handling the sustainability issues we are facing globally. The concept of sustainability argues that a firm’s ability to continuously renew itself for long-term success and survival is dependent not only upon the greater economic and social system of which it is a part, but also upon the natural ecosystem in which the firm is embedded. (Wheelen & Hunger, 2012, p. 99) Ford Motor Company takes this role very seriously in identifying and implementing solutions to help preserve the world’s delicate resources. According to the Environmental Protection Agency (EPA), Carbon dioxide makes up for 82% of the U.S. Green Gas Emissions in 2013. The EPA has strict regulations and standards regarding how much CO2 emissions automobiles can eliminate. California has also been granted a Clean Air Act waiver. This allows California to implement its own emission standards (EPA, 2015). In Europe, they have a similar government agency called, the European Environment Agency (EAA). Ford Motors has to adapt with the increasing pressures from various government entities to produce fuel-efficient vehicles that have less impact on the carbon footprint. Ford Motors has introduced electric, hybrid, eco-boost, diesel, and flex-fuel options to their...
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...Nikky Shah 1405106 Strategic Thinking for Managers 6340 The assignment is solely the work of Nikky Shah. All ideas and views of other people included or referred to are acknowledged and appropriately referenced Nikky Shah 1405106 Introduction The report aims to analyze and examine in detail the strategic thinking process for Mango Madness. The purpose of this report is to identify and recognize the apparent position of the organization, its motto and vision, assessing the internal and external factors, issues, opportunities and challenges. The report also identifies the desired future position of the business and also stresses on Critical success factors and key strategic issues. For precise and accurate investigation, data has been extracted mainly from the case study, Facebook fan page and other sources which have been stated in the appendix. The remainder of the report advises and recommends certain resolutions and techniques that may be valuable to the business and help it to progress towards its motto. CURRENT POSITION OF THE BUSINESS Mango madness started off as a small business offering smoothies at a local market in Henderson in 2009. They started off as a small business but had high hopes and a great potential for growth and improvement. Ever since, the business began operating regularly every week on a larger scale and started participating in more events and even night markets, they have received ongoing success leading the owners to restructure...
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