have experienced within my current and previous employment, has often led the organization in a direction that was not beneficial to the organization and its’ employees. This concept, however, is what we experience as being a strategic change initiative. A change initiative is something that will occur within an organization when a particular situation and/or routine needs to be improved. It requires cross-functional support, and the results can negatively or positively affect the organization. The
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DETERMINANTS OF STRATEGIC MANAGEMENT IMPLEMENTATION IN LOCAL GOVERNMENTS. AN INTERNATIONAL SETTING Lourdes Torres, Vicente Pina and Ana Yetano Submitted to: Dr. Saneya El Galaly Prepared by: Noha ElZalabani Intake: 40C - Heliopolis Paper Summary: The past two decades have witnessed an influx of new ideas and initiatives in the field of public management in Organisation for Economic Co-operation and Development (OECD) countries, which have led governments to undertake major changes in
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Strategic Plan, Part III: Balanced Scorecard BUS/475 Intro A balanced score card is necessary when analyzing the objectives of a strategic plan. Mix and Go will be able to use this method as part of our strategic plan. The four areas of the strategic plan that can be analyzed using the balanced scorecard include: Financial, customer, internal operations, and learning and growth. Each one of these categories will be analyzed separately in order to understand each of their cause and effect
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Quite often a strategic plan is created just for the sake of creating it. The management team creates this plan in order to show to stakeholders that they have a clear mission and vision about the company’s future. However no efforts are put in place to enforce the strategic objectives upon the employees. Employees are not explained how their individual contributions will contribute to the overall effectiveness of the company and ultimately help them to achieve strategic objectives
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MANAGING FOR THE LONG TERM | BEST OF HBR | January–February 1996 Using the Balanced Scorecard as a Strategic Management System Editor’s Note: In 1992, Robert S. Kaplan and David P. Norton’s concept of the balanced scorecard revolutionized conventional thinking about performance metrics. By going beyond traditional measures of financial performance, the concept has given a generation of managers a better understanding of how their companies are really doing. These nonfinancial metrics
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2014 Divisional strategy analysis and evaluation report: Pick n Pay Stores Limited BCom Honours (Strategic Management) Strategic Management (STM8X09 Group Assiggnment Students (Authors): Name & Surname 1. Molefi Nyofane 2. Wayne Fisher 3. Wilson Nkunjana 4. Kamohelo Makhetha 5. Bulelani Mini Student numbers 200618193 201002263 201001767 201238497 201005015 About the report: This report analyses and evaluates the Pick n Pay (PnP) Stores Limited strategy with reference to the company’s division
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government, and non-profit organizations worldwide, provides a method of aligning business activities to the vision & strategy of the organization, integrating internal & external communications, & keeping a watch on organization performance against strategic goals. It was developed by Robert Kaplan and David Norton of Harvard University in 1990. The line of the balanced scorecard runs deep, and include the revolutionary and path breaking work of General Electric on performance measurement coverage in
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Changing how we Change Change is necessary and important for any organization because without change, businesses would lose their competitive edge and fail to meet the needs of loyal customers. With advances in technology, cultural alterations, policy modifications and the price of care, hospitals have changed to more patient-centered approach organizations that address inconsistencies in quality and efficiency. To succeed in healthcare today, hospitals have to change their organizations to ones
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to optimize business performance Using a closed-loop process to optimize business performance implies that four process steps are implemented: * Strategize - setting goals and objectives. Where do we want to go? * Plan - establishing initiatives and plans to achieve those goals. How do we get there? * Monitor – overseeing actual performance and comparing that to the goals and objectives. How are we doing? * Act and Adjust – taking corrective action. What do we need to do differently
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Entrepreneurial School of Thought This school sees strategy formation as a visionary process and is fell under the descriptive school of strategic management. The chief architect of the strategy is the CEO of a company. This school took formal leadership seriously and CEO is responsible for strategy formulation. It stressed on mental state and processes such as instinctive knowledge, belief, wisdom, experience and insight of a single leader. The leader should be visionary in formulating strategy
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