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Strategic management 2

strategic management

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Strategic management 2

  1. 1. Selected Top 10 Management Practices(ClassResponses) Decision making at appropriate level Available resources to be utilized judicially Taking risks to attain the goals (risk management) Quality management Time management Cost management Ethical standards Execution of plans to the extent possible Financial management with internal controls Making everyone part of the decision
  2. 2. Strategic Partnership Act Enhanced partnership act with Pakistan Improve the GOP’s capacity to address the country’s most critical infrastructure needs Help the Pakistani govt. address basic needs and provide improved economic opportunities in areas most vulnerable to extremism Strengthen Pakistan’s capacity to pursue economic and political reforms that reinforce stability
  3. 3. Specific programs, projectsand activities High impact, high visibility infrastructure programs ($ 3.5 billion) Focused humanitarian and social services ( $ 2 billion) Increased access to and Quality of education and health ( $ 1.5 billion) Government capacity development ( $ 2 billion)
  4. 4. Few Interesting Social Science(s) Findings Physical contact improves team performance How frequently members of NBA teams touched each other (Kraus and Huang) Strong relationship between day light saving time and lower SAT scores (Gaski and Sagarin) Do gun shows increase crime rates? (Duggan) Self control consumes glucose in the brain? ( Dewall) People that consumed glucose beverage behaved less aggressively than subjects who didn’t Extrovert leaders perform best when their employees behave passively, the effects are reversed when employees are pro-active (Grant)
  5. 5. Interesting research findings (continued) People remember information that is hard to master (Connor) The more people doubt their own beliefs , the more paradoxically , they are inclined to proselytize in favor of them (Gal and Rucker) Male chess players pursue riskier strategies when they are facing attractive female opponents , even though the risk taking didn’t improve their performance( Dreber and Gerdez)
  6. 6. CorporateGovernanceModel Environmental Scanning External ( general forces and industry analysis) Internal ( culture and resources) Strategy Formulation Mission, Objectives, Strategies and Policies Strategy Implementation Programs, Budgets, Procedures Evaluation and Control Performance and Actual resutls
  7. 7. Corporation is a mechanism established to allow different parties to contribute capital, expertise and labor for their mutual benefit Shareholders elect the directors Directors represent shareholders , establish basic policies, approve all the decisions-they oversee the top management Setting corporate strategy, overall direction and vision Hiring of CEO and top management, approval of use of resources and care for shareholders Roleand Responsibilitiesof theBoard of Directors
  8. 8. Monitor- through committees Evaluate and Influence-Management proposals and decisions Initiate and Determine-Specify strategy options Phantom- Never knows Rubber stamp-permits all the decisions Minimal review-formally reviews Nominal participation-limited degree Active participation-Approve and Questions Catalyst-Takes the leading role Involvement of theBoard in Strategic Management
  9. 9. Agency theory VsStewardship theory Agency theory  Top management have a significant degree of ownership in the firm  Top management have a strong financial stake in its long term performance  A positive relationship between corporate performance and the amount of stock owned by the directors Stewardship theory  Executive to be more motivated than their self interest  Higher order needs-achievements and self-actualization  Top management is invested in company’s long term success than short term-shareholders interests
  10. 10. Carroll’sResponsibilitiesof Business Economic Produce goods and services of value Legal Obey government laws Ethical Follow generally held beliefs about behavior in a society Discretionary Voluntary obligations- philanthropic contributions, training of unemployed, providing day care centers
  11. 11. Kohlberg’sLevelsof Moral Development A progresses through three levels of moral development The preconvention level Concern for self The conventional level Consideration for society’s laws and norms The principled level Adherence to an internal moral code Universal values and principles