This document discusses strategic entrepreneurship and innovation. It defines key terms like entrepreneurship, innovation, and invention. It describes two forms of internal corporate venturing: autonomous and induced strategic behavior. Cross-functional teams can help integrate activities to facilitate new product development. Cooperative strategies like strategic alliances can help firms develop innovations. Acquisitions can help firms buy innovations, but may reduce internal R&D efforts. Venture capital and IPOs provide funding for entrepreneurial ventures. Strategic entrepreneurship creates value for customers and shareholders.
This chapter discusses acquisition and restructuring strategies. It defines mergers, acquisitions, and takeovers and describes horizontal, vertical, and related acquisitions. Reasons for acquisitions include increasing market power, overcoming barriers to entry, and diversification. Problems with acquisitions include integration difficulties, overpayment, large debt loads, and failure to achieve synergies. The chapter also defines downsizing, downscoping, and leveraged buyouts as restructuring strategies and outlines their short-term impacts like reduced costs versus long-term impacts on performance and risk.
The document discusses organizational structure and controls. It defines organizational structure and controls, and the difference between strategic and financial controls. It describes how organizational structure specifies reporting relationships, procedures, authority, and decision making to implement strategy. Structure provides stability and flexibility. The document also outlines different types of organizational structures including simple, functional, and multidivisional structures and how they relate to implementing different business strategies.
The document discusses corporate-level strategies used in the ski industry, including vertical integration, horizontal integration, and strategic alliances. Vertical integration in the ski industry means resorts buying related businesses like hotels, transportation, and equipment rentals. Horizontal integration describes ski resort companies acquiring other resorts. Strategic alliances allow smaller resorts to benefit from larger companies' marketing and brand reputation. The document provides examples of large ski resort operators in North America and their acquisition strategies, and discusses the more fragmented ownership structure of resorts in Europe.
The document discusses strategic management and the strategic planning process. It defines key concepts like strategy, competitive advantage, and strategic leadership. It then outlines the five steps of the strategic management process: 1) defining the mission and goals, 2) external analysis, 3) internal analysis, 4) selecting strategies, and 5) implementing strategies. It provides details on how to conduct external and internal analysis, and explains how strategies are selected and implemented to achieve competitive advantage.
The document discusses the role of human resources in mergers and acquisitions. It notes that HR should be involved from the beginning in the due diligence process to assess cultural fit and integration challenges. During integration planning, HR communicates changes, retains key talent, and helps the new organization cope with change. In implementation, HR aligns policies, monitors synergies, and ensures incentives support goals. HR encourages recognizing behaviors that support the new culture and aligning culture with strategy. Key concepts are conducting understanding programs, negotiating with unions, assessing manpower needs, understanding compensation structures, auditing assets, and implementing redundancy policies.
The document discusses a firm's internal environment, focusing on resources, capabilities, and core competencies. It defines these terms and explains how firms can identify their core competencies using criteria like being valuable, rare, costly to imitate, and efficiently exploited. Firms then use tools like value chain analysis to evaluate their internal strengths and weaknesses and determine potential areas for outsourcing or developing new capabilities. Maintaining core competencies while avoiding that they become rigid is important for sustained competitive advantage.
1) Air Products and Chemicals Inc. (APCI) introduced a vision called "Deliver the Difference" to unify the organization and establish a "one company" focus on customers.
2) APCI is transforming itself to become more process-focused in order to drive productivity and customer value. Executive process owners were appointed to lead this effort and drive process convergence across the company.
3) APCI established a global process board and identified 13 global processes to standardize work processes on a global scale and improve efficiency. Extensive training was provided to employees on process management.
A tightening of funding, new owners, changes in technology, pressure on performance or a struggling business model are all very different scenarios but they often lead to the same conclusion: the need for restructuring.
Rapid and significant improvements in business performance are elusive. Restructuring can easily go wrong or fail to achieve the results hoped for at the outset. This book, published by management consultancy Collinson Grant, contains many tips on how to avoid the common pitfalls.
It has been written from the point of view of an agent of change who wants to lead a turnaround in profitability. Examining in detail the commercial and managerial skills needed, the text provides a stage-by-stage blueprint covering diagnosis, planning and implementation, illustrated by numerous diagrams.
Written by Collinson Grant's consultants, it draws on their experience of restructuring large businesses in Europe, the USA and worldwide, including projects to integrate acquisitions or merge operations, change the organisational structure, reduce costs, improve profit, and manage transition.
Find out more at www.collinsongrant.com or get a hard copy of this book by emailing pmackenzie@collinsongrant.com
This chapter discusses acquisition and restructuring strategies. It defines mergers, acquisitions, and takeovers and describes horizontal, vertical, and related acquisitions. Reasons for acquisitions include increasing market power, overcoming barriers to entry, and diversification. Problems with acquisitions include integration difficulties, overpayment, large debt loads, and failure to achieve synergies. The chapter also defines downsizing, downscoping, and leveraged buyouts as restructuring strategies and outlines their short-term impacts like reduced costs versus long-term impacts on performance and risk.
The document discusses organizational structure and controls. It defines organizational structure and controls, and the difference between strategic and financial controls. It describes how organizational structure specifies reporting relationships, procedures, authority, and decision making to implement strategy. Structure provides stability and flexibility. The document also outlines different types of organizational structures including simple, functional, and multidivisional structures and how they relate to implementing different business strategies.
The document discusses corporate-level strategies used in the ski industry, including vertical integration, horizontal integration, and strategic alliances. Vertical integration in the ski industry means resorts buying related businesses like hotels, transportation, and equipment rentals. Horizontal integration describes ski resort companies acquiring other resorts. Strategic alliances allow smaller resorts to benefit from larger companies' marketing and brand reputation. The document provides examples of large ski resort operators in North America and their acquisition strategies, and discusses the more fragmented ownership structure of resorts in Europe.
The document discusses strategic management and the strategic planning process. It defines key concepts like strategy, competitive advantage, and strategic leadership. It then outlines the five steps of the strategic management process: 1) defining the mission and goals, 2) external analysis, 3) internal analysis, 4) selecting strategies, and 5) implementing strategies. It provides details on how to conduct external and internal analysis, and explains how strategies are selected and implemented to achieve competitive advantage.
The document discusses the role of human resources in mergers and acquisitions. It notes that HR should be involved from the beginning in the due diligence process to assess cultural fit and integration challenges. During integration planning, HR communicates changes, retains key talent, and helps the new organization cope with change. In implementation, HR aligns policies, monitors synergies, and ensures incentives support goals. HR encourages recognizing behaviors that support the new culture and aligning culture with strategy. Key concepts are conducting understanding programs, negotiating with unions, assessing manpower needs, understanding compensation structures, auditing assets, and implementing redundancy policies.
The document discusses a firm's internal environment, focusing on resources, capabilities, and core competencies. It defines these terms and explains how firms can identify their core competencies using criteria like being valuable, rare, costly to imitate, and efficiently exploited. Firms then use tools like value chain analysis to evaluate their internal strengths and weaknesses and determine potential areas for outsourcing or developing new capabilities. Maintaining core competencies while avoiding that they become rigid is important for sustained competitive advantage.
1) Air Products and Chemicals Inc. (APCI) introduced a vision called "Deliver the Difference" to unify the organization and establish a "one company" focus on customers.
2) APCI is transforming itself to become more process-focused in order to drive productivity and customer value. Executive process owners were appointed to lead this effort and drive process convergence across the company.
3) APCI established a global process board and identified 13 global processes to standardize work processes on a global scale and improve efficiency. Extensive training was provided to employees on process management.
A tightening of funding, new owners, changes in technology, pressure on performance or a struggling business model are all very different scenarios but they often lead to the same conclusion: the need for restructuring.
Rapid and significant improvements in business performance are elusive. Restructuring can easily go wrong or fail to achieve the results hoped for at the outset. This book, published by management consultancy Collinson Grant, contains many tips on how to avoid the common pitfalls.
It has been written from the point of view of an agent of change who wants to lead a turnaround in profitability. Examining in detail the commercial and managerial skills needed, the text provides a stage-by-stage blueprint covering diagnosis, planning and implementation, illustrated by numerous diagrams.
Written by Collinson Grant's consultants, it draws on their experience of restructuring large businesses in Europe, the USA and worldwide, including projects to integrate acquisitions or merge operations, change the organisational structure, reduce costs, improve profit, and manage transition.
Find out more at www.collinsongrant.com or get a hard copy of this book by emailing pmackenzie@collinsongrant.com
1. Corporate-level strategy concerns which businesses a firm should be in and how the corporate office should manage the different business units.
2. Firms vary in their degree of diversification from single-business strategies to unrelated diversified strategies. Reasons for diversification include enhancing competitiveness through economies of scope, market power, and financial economies, as well as managerial incentives like reducing risk.
3. There are four main diversification strategies: sharing activities, transferring core competencies, efficient internal capital market allocation, and restructuring. The performance effects of diversification depend on factors like the level of relatedness between business units.
This document discusses cooperative strategies between firms. It defines a cooperative strategy as firms working together to achieve a shared objective. There are three main types of strategic alliances: joint ventures, equity strategic alliances, and non-equity strategic alliances. Cooperative strategies can be used at the business and corporate level between firms and allow firms to pursue mutual interests such as developing new products/services or entering new markets. However, cooperative strategies also carry risks such as partners failing to contribute as agreed or misunderstanding each other's intentions. These risks must be managed through detailed contracts, monitoring, and developing trusting relationships between partners.
This two-day workshop helped participants craft a high-potential business growth strategy that capitalizes on marketplace opportunities while leveraging organizational competencies and competitive advantages. Day 2 of the workshop consists of four modules: 1) utilizing research and analytical methodologies to inform and achieve strategic business goals, 2) implementing business growth strategy for creating high-impact value propositions, 3) assessing organizational readiness and implementation for effective execution of growth strategies, and 4) measuring and monitoring the progress of business development and growth.
The document discusses mergers and acquisitions (M&As) and related human resource management (HRM) issues. It defines different types of M&As and reasons for companies merging. Major HRM challenges in M&As include communication, training, employee retention, cultural clashes, and resistance to change. Culture differences between merging companies can significantly impact integration efforts if not properly managed. The document provides best practices for strategic planning, due diligence, negotiations and post-acquisition integration to help realize the intended benefits of M&As.
This document discusses strategic management and the strategic management process. It defines key concepts like corporate strategy, business strategy, and functional strategy. It also outlines the steps in the strategic management process as assessing the external and internal environment, formulating strategy, and executing strategy. Strengths, weaknesses, opportunities, and threats are identified as important to analyze. Different levels of strategy and types of competitive strategies are also defined.
Human Resource Transformation (HRT) aims at maximizing the competence and efficiency of human resource models and functions.
This presentation talks about what is Organizational Restructuring and how it influences the growth of a firm, some examples of Org restructuring happened in past.
Healthcare Business Survival Through RestructuringElijah Ezendu
Application of various restructuring methods for ensuring survival of healthcare business such as hospital, clinic, maternity, trauma center, wound care center, cancer center, heart center and other specialist health centers
Organic Growth: 4 key strategies to succeedjareddroy
It\'s no secret that Organic Growth is one of the many challenges Agency Owners are facing in today\'s Insurance Marketplace. This webinar will concentrate on FOUR Key Strategies an agency can use in 2012 to successfully grow organically. Join this webinar to hear Jared Roy and Josh Morgan, MarshBerry Consultants, explain how you can implement a proven process for Organic Growth through Organizational Infrastructure, Differentiation, Proactive Sales and Producer Investment. If you\'re an insurance agency owner, executive, or shareholder interested in growing your agency; this webinar has the answers.
In this 30-minute webinar we will reveal:
• Key strategies of organic growth leaders
• Examples of how to take action now
• Secrets of high performing agencies
• And more...
The document discusses various types of external growth strategies for businesses, including partnerships, strategic alliances, joint ventures, mergers, acquisitions, licensing, and franchising. It provides definitions and examples for each type of strategy. Partnerships and strategic alliances are described as leveraging the strengths of each partner to create value greater than the sum of the parts. Mergers and acquisitions are discussed as ways for companies to grow, though mergers often do not achieve expected cost savings. The advantages of external growth strategies include reducing competition and gaining access to new markets and expertise, while the disadvantages include potential incompatibility of cultures and loss of flexibility.
Environmental scanning involves monitoring internal and external environments to identify strengths, weaknesses, opportunities, and threats. Corporate governance involves relationships between management, directors, shareholders, and other stakeholders that determine how company objectives are set and performance is monitored. A strategic business unit is a division large enough to control most factors affecting its performance but small enough to be flexible. The balanced scorecard measures performance across learning/growth, business processes, customers, and finance.
Organization Restructuring_ Guest Speaker at Haas/Berkeley. Hsiang-Yi Lin (林湘儀)
This document summarizes lessons learned from case studies of organizational restructuring at JP Morgan Chase, Yahoo!, and Earn.org. It identifies three common mistakes: (1) imposing restructuring from the top down without input from managers and staff, (2) having unrealistic expectations for quick wins, and (3) failing to clearly and repeatedly communicate the strategic vision. Successful change involves enlisting middle managers in planning and implementation for input and buy-in, recognizing that change takes time and continuous effort, and strategically communicating the vision through multiple channels to connect it to employees' daily work. The key is doing change with people, not to people.
Turning Market Complexity and Uncertainty into Competitive AdvantageCGN & Associates
The most successful companies of the future will use Lean and Six Sigma to gain a strategic and competitive advantage. CGN & Associates is helping global organisations get ahead of the curve by working with them to create a strategic framework in which to implement these tools and drive transformational change to achieve dramatic and sustainable benefits.
This document provides an overview of key concepts from the BUSM 3200 Strategic Management course including:
1) It discusses different ways of classifying business strategies such as generic strategies, strategic directions using the Ansoff matrix, and strategies based on the context and scale of the business.
2) It covers the three generic strategies of cost leadership, differentiation, and focus as well as how firms can achieve competitive advantage through these strategies.
3) Examples and diagrams are provided to illustrate concepts like economies of scale, the experience curve, and how differentiation can be achieved in industries like airlines.
Creating a Lean Business System white paperPeterHines
The document provides an overview of the Lean Business Model created by Professor Peter Hines. The model was developed based on research of Toyota's operations and supply chain management. It consists of five elements: strategy deployment, value stream management, tools and techniques, people enabled processes, and extended enterprise. The Lean Business Model can be used to assess an organization's lean maturity and develop a roadmap to create a lean business system.
This document discusses strategy formulation and implementation. It provides definitions of strategic management and outlines the strategic management process. This includes scanning the internal and external environment, formulating strategy, and implementing strategy through changes in leadership, culture, structure, human resources, and information/control systems. Grand strategies of growth, stability, and retrenchment are described. Tools for analyzing strengths/weaknesses and implementing strategy are also presented.
The document discusses various approaches to defining and measuring firm performance, including accounting measures like profitability and leverage ratios, market-based measures like Sharpe's measure and Treynor's measure, and other approaches like survival analysis, present value analysis, and the balanced scorecard. It also defines key concepts like above average, average, and below average returns and examines strengths and weaknesses of different performance measurement approaches.
Job analysis is the process of analyzing a job to determine its duties and responsibilities, skills and qualifications required, and how the job relates to other positions. The goals are to establish a common understanding about a job and provide an accurate job description. Methods include interviews, questionnaires, and observation. Key aspects analyzed are duties, human factors, tools/equipment, relationships, and skills required. The output is a job description specifying the job purpose, responsibilities, requirements, and other key details.
This document discusses various aspects of recruitment and selection including:
1. The role of HR in recruitment and selection such as job analysis, recruitment, selection, documentation, and auditing.
2. Key aspects of the selection process like determining job requirements, evaluating candidates, testing, and establishing valid selection criteria.
3. Best practices for hiring like considering multiple qualified candidates, getting feedback from others, and conducting multiple interviews.
This document discusses the strategic role of human resource management. It begins by noting that in today's knowledge economy, employees are as powerful as consumers were in the past. It then outlines several questions around how an organization can develop a committed and competent workforce, adapt to environmental changes, balance labor and capital needs, plan HR deployment for the future, build incentives, and safeguard company interests. The next section discusses HR principles around value creation, emphasis on performance and competence, equal opportunity, and a long-term perspective. Finally, it explains the importance of human resource strategy in defining opportunities/barriers, prompting new thinking, developing commitment to action, establishing long-term priorities, and providing strategic focus for managing business and talent.
Strategic leadership involves managing the paradox between managerial and visionary leadership models. Effective strategic leadership determines strategic direction by developing a long-term vision of strategic intent with two parts: core ideology and an envisioned future. It also exploits and maintains core competencies, develops human capital, sustains an effective organizational culture through establishing ethical practices and balanced organizational controls measured by the balanced scorecard framework.
1. Corporate-level strategy concerns which businesses a firm should be in and how the corporate office should manage the different business units.
2. Firms vary in their degree of diversification from single-business strategies to unrelated diversified strategies. Reasons for diversification include enhancing competitiveness through economies of scope, market power, and financial economies, as well as managerial incentives like reducing risk.
3. There are four main diversification strategies: sharing activities, transferring core competencies, efficient internal capital market allocation, and restructuring. The performance effects of diversification depend on factors like the level of relatedness between business units.
This document discusses cooperative strategies between firms. It defines a cooperative strategy as firms working together to achieve a shared objective. There are three main types of strategic alliances: joint ventures, equity strategic alliances, and non-equity strategic alliances. Cooperative strategies can be used at the business and corporate level between firms and allow firms to pursue mutual interests such as developing new products/services or entering new markets. However, cooperative strategies also carry risks such as partners failing to contribute as agreed or misunderstanding each other's intentions. These risks must be managed through detailed contracts, monitoring, and developing trusting relationships between partners.
This two-day workshop helped participants craft a high-potential business growth strategy that capitalizes on marketplace opportunities while leveraging organizational competencies and competitive advantages. Day 2 of the workshop consists of four modules: 1) utilizing research and analytical methodologies to inform and achieve strategic business goals, 2) implementing business growth strategy for creating high-impact value propositions, 3) assessing organizational readiness and implementation for effective execution of growth strategies, and 4) measuring and monitoring the progress of business development and growth.
The document discusses mergers and acquisitions (M&As) and related human resource management (HRM) issues. It defines different types of M&As and reasons for companies merging. Major HRM challenges in M&As include communication, training, employee retention, cultural clashes, and resistance to change. Culture differences between merging companies can significantly impact integration efforts if not properly managed. The document provides best practices for strategic planning, due diligence, negotiations and post-acquisition integration to help realize the intended benefits of M&As.
This document discusses strategic management and the strategic management process. It defines key concepts like corporate strategy, business strategy, and functional strategy. It also outlines the steps in the strategic management process as assessing the external and internal environment, formulating strategy, and executing strategy. Strengths, weaknesses, opportunities, and threats are identified as important to analyze. Different levels of strategy and types of competitive strategies are also defined.
Human Resource Transformation (HRT) aims at maximizing the competence and efficiency of human resource models and functions.
This presentation talks about what is Organizational Restructuring and how it influences the growth of a firm, some examples of Org restructuring happened in past.
Healthcare Business Survival Through RestructuringElijah Ezendu
Application of various restructuring methods for ensuring survival of healthcare business such as hospital, clinic, maternity, trauma center, wound care center, cancer center, heart center and other specialist health centers
Organic Growth: 4 key strategies to succeedjareddroy
It\'s no secret that Organic Growth is one of the many challenges Agency Owners are facing in today\'s Insurance Marketplace. This webinar will concentrate on FOUR Key Strategies an agency can use in 2012 to successfully grow organically. Join this webinar to hear Jared Roy and Josh Morgan, MarshBerry Consultants, explain how you can implement a proven process for Organic Growth through Organizational Infrastructure, Differentiation, Proactive Sales and Producer Investment. If you\'re an insurance agency owner, executive, or shareholder interested in growing your agency; this webinar has the answers.
In this 30-minute webinar we will reveal:
• Key strategies of organic growth leaders
• Examples of how to take action now
• Secrets of high performing agencies
• And more...
The document discusses various types of external growth strategies for businesses, including partnerships, strategic alliances, joint ventures, mergers, acquisitions, licensing, and franchising. It provides definitions and examples for each type of strategy. Partnerships and strategic alliances are described as leveraging the strengths of each partner to create value greater than the sum of the parts. Mergers and acquisitions are discussed as ways for companies to grow, though mergers often do not achieve expected cost savings. The advantages of external growth strategies include reducing competition and gaining access to new markets and expertise, while the disadvantages include potential incompatibility of cultures and loss of flexibility.
Environmental scanning involves monitoring internal and external environments to identify strengths, weaknesses, opportunities, and threats. Corporate governance involves relationships between management, directors, shareholders, and other stakeholders that determine how company objectives are set and performance is monitored. A strategic business unit is a division large enough to control most factors affecting its performance but small enough to be flexible. The balanced scorecard measures performance across learning/growth, business processes, customers, and finance.
Organization Restructuring_ Guest Speaker at Haas/Berkeley. Hsiang-Yi Lin (林湘儀)
This document summarizes lessons learned from case studies of organizational restructuring at JP Morgan Chase, Yahoo!, and Earn.org. It identifies three common mistakes: (1) imposing restructuring from the top down without input from managers and staff, (2) having unrealistic expectations for quick wins, and (3) failing to clearly and repeatedly communicate the strategic vision. Successful change involves enlisting middle managers in planning and implementation for input and buy-in, recognizing that change takes time and continuous effort, and strategically communicating the vision through multiple channels to connect it to employees' daily work. The key is doing change with people, not to people.
Turning Market Complexity and Uncertainty into Competitive AdvantageCGN & Associates
The most successful companies of the future will use Lean and Six Sigma to gain a strategic and competitive advantage. CGN & Associates is helping global organisations get ahead of the curve by working with them to create a strategic framework in which to implement these tools and drive transformational change to achieve dramatic and sustainable benefits.
This document provides an overview of key concepts from the BUSM 3200 Strategic Management course including:
1) It discusses different ways of classifying business strategies such as generic strategies, strategic directions using the Ansoff matrix, and strategies based on the context and scale of the business.
2) It covers the three generic strategies of cost leadership, differentiation, and focus as well as how firms can achieve competitive advantage through these strategies.
3) Examples and diagrams are provided to illustrate concepts like economies of scale, the experience curve, and how differentiation can be achieved in industries like airlines.
Creating a Lean Business System white paperPeterHines
The document provides an overview of the Lean Business Model created by Professor Peter Hines. The model was developed based on research of Toyota's operations and supply chain management. It consists of five elements: strategy deployment, value stream management, tools and techniques, people enabled processes, and extended enterprise. The Lean Business Model can be used to assess an organization's lean maturity and develop a roadmap to create a lean business system.
This document discusses strategy formulation and implementation. It provides definitions of strategic management and outlines the strategic management process. This includes scanning the internal and external environment, formulating strategy, and implementing strategy through changes in leadership, culture, structure, human resources, and information/control systems. Grand strategies of growth, stability, and retrenchment are described. Tools for analyzing strengths/weaknesses and implementing strategy are also presented.
The document discusses various approaches to defining and measuring firm performance, including accounting measures like profitability and leverage ratios, market-based measures like Sharpe's measure and Treynor's measure, and other approaches like survival analysis, present value analysis, and the balanced scorecard. It also defines key concepts like above average, average, and below average returns and examines strengths and weaknesses of different performance measurement approaches.
Job analysis is the process of analyzing a job to determine its duties and responsibilities, skills and qualifications required, and how the job relates to other positions. The goals are to establish a common understanding about a job and provide an accurate job description. Methods include interviews, questionnaires, and observation. Key aspects analyzed are duties, human factors, tools/equipment, relationships, and skills required. The output is a job description specifying the job purpose, responsibilities, requirements, and other key details.
This document discusses various aspects of recruitment and selection including:
1. The role of HR in recruitment and selection such as job analysis, recruitment, selection, documentation, and auditing.
2. Key aspects of the selection process like determining job requirements, evaluating candidates, testing, and establishing valid selection criteria.
3. Best practices for hiring like considering multiple qualified candidates, getting feedback from others, and conducting multiple interviews.
This document discusses the strategic role of human resource management. It begins by noting that in today's knowledge economy, employees are as powerful as consumers were in the past. It then outlines several questions around how an organization can develop a committed and competent workforce, adapt to environmental changes, balance labor and capital needs, plan HR deployment for the future, build incentives, and safeguard company interests. The next section discusses HR principles around value creation, emphasis on performance and competence, equal opportunity, and a long-term perspective. Finally, it explains the importance of human resource strategy in defining opportunities/barriers, prompting new thinking, developing commitment to action, establishing long-term priorities, and providing strategic focus for managing business and talent.
Strategic leadership involves managing the paradox between managerial and visionary leadership models. Effective strategic leadership determines strategic direction by developing a long-term vision of strategic intent with two parts: core ideology and an envisioned future. It also exploits and maintains core competencies, develops human capital, sustains an effective organizational culture through establishing ethical practices and balanced organizational controls measured by the balanced scorecard framework.
This document discusses competitive rivalry and competitive dynamics. It defines key terms and presents a model of competitive rivalry that examines the drivers, actions, responses and outcomes of competition. The model considers factors like awareness, motivation, ability, competitor analysis, and market conditions that affect competitive behaviors and dynamics. Temporary advantages can potentially lead to sustained competitive advantages if firms continuously develop new advantages before old ones erode.
This document discusses the validity and reliability of different personnel selection methods. It provides a graph ranking selection methods from most predictive of job performance (assessment centers and ability tests) to least predictive (astrology and reading hands). The text also covers legal standards around selection methods, how to establish validity through various strategies, calculating reliability, and the relationship between selection test scores and future job performance.
This chapter discusses acquisition and restructuring strategies. It defines mergers, acquisitions, and takeovers and describes different types of acquisitions like horizontal, vertical, and related acquisitions. The chapter also lists reasons why firms pursue acquisition strategies and problems that can arise. Additionally, it defines restructuring strategies like downsizing and downscoping and discusses their short-term and long-term outcomes.
1. The document discusses international strategy, including the benefits of international diversification such as increased market size and greater economies of scale.
2. It describes three international corporate strategies: multidomestic, global, and transnational. As well as five modes of entering international markets like exporting, licensing, and acquisitions.
3. While international diversification can increase returns and innovation, it also brings risks such as political and economic instability in foreign markets.
Corporate governance is used to monitor and control managers' strategic decisions by establishing order between a firm's owners and its top-level managers. It became necessary due to the separation of ownership and managerial control in modern corporations. Agency theory holds that conflicts can arise between principals (owners) and agents (managers) if their goals are not properly aligned. Various internal mechanisms like ownership concentration, boards of directors, and executive compensation seek to mitigate these agency problems and ensure managers make decisions that reflect owners' interests.
The document discusses business-level strategy and the value creating activities common to a cost leadership business-level strategy. It outlines activities across a firm's infrastructure, procurement, operations, logistics, marketing and sales, service, and supplier relationships that aim to minimize costs and maximize efficiency in order to achieve low prices and high sales volumes. The goal is to gain competitive advantage through low cost relative to competitors.
1. The document discusses corporate-level strategy and the importance of strategic decisions about which businesses a firm should enter and how the corporate office should manage business units.
2. It describes different levels of diversification from single-business strategies to unrelated diversified strategies. Reasons for diversification include accessing resources, responding to incentives, and satisfying managerial motives.
3. Value-creating diversification strategies involve related diversification through sharing activities or transferring core competencies between related businesses, or unrelated diversification through efficient internal capital allocation or restructuring.
12 Managing Innovation and Fostering Corporate Entrep.docxjoyjonna282
12
Managing Innovation and
Fostering Corporate Entrepreneurship
Professor John Coy
12 - *
Learning ObjectivesAfter reading this chapter, you should have a good understanding of:The importance of implementing strategies and practices that foster innovation.The challenges and pitfalls of managing corporate innovation processes.The role of product champions and exit champions in internal corporate venturing.How independent venture teams and business incubators are used to develop corporate ventures.
12 - *
Learning ObjectivesAfter reading this chapter, you should have a good understanding of:How corporations create an internal environment and culture that promotes entrepreneurial development.The benefits and potential drawbacks of real options analysis in making resource deployment decisions in corporate entrepreneurship contexts.How an entrepreneurial orientation can enhance a firm’s efforts to develop promising corporate venture initiatives.
12 - *
Question
What is one of the most important sources of growth opportunities?
A) The economy
B) Labor capital
C) Financial capital
D) Innovation
*
Answer: D
12 - *
Managing InnovationInnovation: using new knowledge to transform organizational processes or create commercially viable products and servicesLatest technologyResults of experimentsCreative insightsCompetitive information
12 - *
ExampleSome Companies, such as Apple, are always innovating popular products, while others are constantly struggling for their one great idea.There are “five disciplines” for creating what customers want Identify important customer needsCreate solutions that fill those needsBuild innovation teamsEmpower "innovation champions" who keep the effort on track Align the entire enterprise around creating value for customers
Source: “Getting to ‘Aha!’,” Business Week. September 4, 2006.
12 - *
Types of InnovationDegree of innovativenessRadical innovationFundamental changes and breakthroughsEvoke major departures from existing practicesCan be highly disruptiveCan transform or revolutionize a whole industryIncremental innovationEnhance existing practicesSmall improvements in products and processesEvolutionary applications within existing paradigms
12 - *
Continuum of Radical and
Incremental Innovations
Exhibit 12.1 Continuum of Radical and Incremental Innovations
12 - *
Types of InnovationProduct and process innovationsProduct innovationEfforts to create product designsApplications of technology to develop new products for end usersMore radical and common during early stages of an industry’s life cycleAssociated with differentiation strategies
12 - *
Types of InnovationProduct and process innovationsProcess innovationsImproving efficiency of an organizational processManufacturing systems and operationsCan improve materials utilizationShorten cycle timeIncrease qualityMore likely to occur in later stages of an industry’s life cycleAssociated with cost leader strategies
12 - *
Challeng ...
1. The document discusses business-level strategies and defines them as actions taken to provide customers value and gain a competitive advantage by exploiting core competencies in specific product markets.
2. It explains the three key issues of business-level strategy: what good or service to offer customers, how to manufacture or create it, and how to distribute it in the marketplace.
3. The document outlines the three generic business-level strategies of cost leadership, differentiation, and focused strategies, and discusses how firms can gain competitive advantage through low costs or product uniqueness under each strategy.
This document provides an overview of strategic management concepts. It defines key terms like strategic competitiveness, competitive advantage, and above-average returns. It describes models for achieving returns, like utilizing resources and capabilities. It also outlines the strategic management process of analyzing internal/external environments to formulate strategies to implement and achieve strategic competitiveness.
Article: From Best Practice to Success Transferrepner
The document describes a Global Operations Network Model implemented by ING Insurance Asia/Pacific to standardize best practices across multiple countries. Using an approach called the "4Ps" - Planning, Process Management, Problem Solving, and People - the model achieved a 15% increase in operational efficiency while supporting 30% business growth across 10 countries. Key aspects of the model included common performance metrics, process mapping, problem-solving teams, and staff development to facilitate sharing best practices globally. The document argues this approach can benefit other multinational companies by increasing synergies and scale through standardized operations.
The document provides definitions and explanations of various concepts related to strategic management. It begins by defining business strategy as determining long-term goals and objectives to maximize competitive advantage. Strategic management is defined as decisions and actions that determine long-term performance, including environmental scanning, strategy formulation, implementation, and evaluation. Corporate strategy describes a company's overall direction in terms of growth, businesses, and product lines.
The document discusses various strategies for strategy formulation, including stability strategies, growth strategies, and strategic alliances. It provides details on different types of stability strategies such as maintenance of status quo. Growth strategies discussed include internal growth, concentration, mergers and acquisitions, horizontal and vertical integration, and joint ventures. Strategic alliances are defined as teaming with other companies to help perform business activities across the supply chain. The objectives, characteristics, and forms of strategic alliances are also summarized.
From defensive to offensive growth during the pandemic generated by COVID-19Constantin Magdalina
The document discusses strategies for companies to shift from a defensive to offensive posture during the COVID-19 pandemic. It outlines that initially companies focused on mitigating risks, ensuring liquidity and stabilizing operations. However, it is now time to prepare for growth by developing new products/services, pivoting business models and investing in new technologies. Offensive companies focus on potential opportunities rather than risks alone and allocate significant budgets to technology investments. The document provides steps for companies to assess impacts, develop new strategies to beat competitors, strengthen teams and implement new value propositions to drive growth.
This document provides an overview of strategic management and strategic competitiveness. It defines key terms like strategy, strategic intent, stakeholders, and the strategic management process. The document also discusses factors like globalization, technology, and the importance of developing resources and capabilities for achieving competitive advantage and above-average returns. It describes different models for strategy formulation and implementation, and achieving strategic competitiveness.
how to apply entrepreneurial and strategic tools, techniques, and concepts in ways that help the firm create increasing amounts of wealth.
six domains: innovation, networks, internationalization,organizational learning, top management teams and governance, and growth.
This document discusses strategic entrepreneurship and organizational renewal. It defines key terms like entrepreneurship, innovation, and imitation. It describes different types of innovation and discusses how firms can pursue internal corporate venturing through both autonomous and induced strategic behavior. The document also outlines how cross-functional teams, cooperation, acquisitions, venture capital, and IPOs can help firms create value through innovation.
This document discusses strategic entrepreneurship and organizational renewal. It defines key terms like entrepreneurship, innovation, and imitation. It describes different types of innovation and discusses how firms can pursue internal corporate venturing through both autonomous and induced strategic behavior. The document also outlines how cross-functional teams, cooperation, acquisitions, venture capital, and IPOs can help firms create value through innovation.
Paths to Prosperity Promoting Entrepreneurship in the 21ST Centuryled4lgus
Entrepreneurship drives economic growth and prosperity through innovation and job creation. However, there is little agreement on how best to promote it. This document discusses key factors that encourage or discourage entrepreneurship. It aims to provide policymakers with tools to better understand their local entrepreneurial environment and develop effective promotion strategies. The report analyzes entrepreneurship survey results from 22 countries and identifies different models for how entrepreneurship develops in various economic contexts. The goal is to move beyond one-size-fits-all approaches and develop locally tailored policies.
The document discusses strategic management in international business. It explains that strategic management involves formulating, implementing, and evaluating strategies to achieve a firm's objectives and increase profits through international expansion. The strategic management process involves scanning the global environment, formulating strategies, implementing changes, and measuring performance. Key ways for firms to increase profitability include acquiring brands, realizing experience curve benefits, achieving location economies, and building core competencies.
This document discusses competitive rivalry and competitive dynamics. It defines key terms and presents a model of competitive rivalry that examines the drivers, interactions, and outcomes of competition between firms. The drivers include awareness of competitors, motivation to act, and ability to act. Interactions depend on factors like type of action, reputation, and market dependence. Outcomes can include sustained competitive advantage in slow or standard cycle markets or temporary advantages in fast cycle markets. The goal is to obtain a series of temporary advantages to achieve sustained long-term advantage.
The document discusses a company's internal environment and resources. It covers topics like tangible and intangible resources, capabilities, core competencies, value chain analysis, outsourcing, and preventing rigidities. The goal is to understand a company's unique resources and capabilities in order to develop a strategy that exploits them and leads to competitive advantage and above-average returns.
The document provides an overview of analyzing a firm's external environment including opportunities and threats. It discusses analyzing the general environment, industry environment, and competitors. The key aspects are scanning, monitoring, forecasting and assessing the external environment on a continuous basis. It also summarizes Porter's 5 forces model and analyzing industry attractiveness based on factors like threat of new entrants, power of suppliers/buyers, and competitive rivalry.
This document discusses job evaluation, which is an assessment of the relative worth of various jobs based on factors like qualifications, skills, responsibilities, and complexity of tasks. It aims to determine which jobs should receive higher pay and to create a defensible pay structure. The document outlines several common job evaluation methods, including ranking, classification, point evaluation, factor comparison, and market comparison. It also lists typical factors considered in job evaluation and the steps involved in conducting an evaluation.
Job evaluation is the process of determining the relative worth of jobs within an organization. It involves analyzing and comparing job characteristics like responsibilities, skills required, decisions made, and importance to the organization. The objectives are to establish a fair wage structure, minimize pay discrimination, and ensure equal pay for equal work. Common methods include ranking, classification, and point systems which assign numerical values to job factors. An effective job evaluation helps reduce pay inequalities, supports selection and specialization, standardizes compensation, and facilitates integrating new roles into the pay structure.
This document discusses job evaluation and the point method process. It involves [1] analyzing jobs to determine tasks, skills and qualifications, [2] identifying compensable factors like responsibility and decision making, [3] assigning point values to degrees of each factor, [4] evaluating benchmark jobs to determine point totals, [5] collecting salary data on benchmarks, and [6] using regression to calculate appropriate pay for all jobs based on their point totals. The goal is to determine appropriate internal pay levels and remain competitive externally.
This document provides information about job evaluation including:
1. Job evaluation is used to assess the relative worth of jobs based on qualifications, skills, responsibilities, and other factors to determine appropriate pay.
2. The objectives of job evaluation are to determine which jobs should be paid more based on gathered job data and to establish a job hierarchy.
3. Common job evaluation methods include ranking, classification, point evaluation, factor comparison, and market comparison which assign points or rankings to job factors.
Selection methods such as interviews and tests are not always reliable predictors of job performance due to widespread faking. Effective selection requires looking below surface impressions to evaluate deeper skills, attitudes, interests, and motivations. A variety of assessment tools are used in selection, but the most valid generally relate directly to actual job requirements like work samples, assessment centers, cognitive tests, and structured interviews. The accuracy of different methods in predicting performance varies considerably, with cognitive tests and work samples among the most valid.
The document discusses HR planning and recruiting, including forecasting external candidate supply, effective recruiting strategies, and internal and external candidate sources. It describes forecasting factors like economic conditions; advantages of centralizing recruitment; using job posting, employee records, and rehiring to find internal candidates; constructing effective job advertisements; and reasons for and problems with using employment agencies, temporary agencies, executive recruiters, and other external candidate sources.
Rect sel human resource planning spr 2012Laiqa Ahmed
The document discusses human resource planning and management. It defines HRP as ensuring the right number and type of employees are available at the right times to help the organization achieve its goals. Effective HRP includes forecasting labor demand and supply to anticipate surpluses or deficits. It also aims to attract and retain qualified employees while developing a flexible workforce. Factors like organizational strategy, growth, and the external environment impact HRP. Forecasting methods and programs can help address expected labor shortages or surpluses.
The document discusses different types of interviews and effective interview techniques. It outlines the importance of preparation, establishing rapport, obtaining relevant information, and evaluating candidates for hiring decisions. The document also notes some advantages and disadvantages of interviews as a selection method.
The document discusses strategies for human resource management (HRM) to achieve strategic goals. It notes that in today's economy, intellectual capital and employees are more powerful assets than physical or financial capital. It outlines several questions for HRM to consider regarding how to achieve a committed and competent workforce, adapt to environmental changes, balance labor and capital needs, plan future HR deployment, build incentives, and safeguard company interests. The document provides population and labor force statistics and forecasts for Pakistan, including projections for workforce size, unemployment rates, and sector employment breakdowns at national and regional levels through 2020. It discusses trends in Pakistani recruiting and challenges around brain drain, unemployment, horizontal mobility, and validating selection processes. Finally, it outlines some retention
Does brand extension impact parent brandLaiqa Ahmed
This document discusses brand extension and its impact on the parent brand through a case study of Johnson. It explores reasons why companies adopt brand extension strategies over new brands, including financial benefits and leveraging the parent brand's image. Brand extension can positively or negatively impact the parent brand over time. The document reviews literature on brand extension and outlines factors companies consider like reducing costs and risks when launching new products under an existing brand name.
Factors influencing successful brand extensionsLaiqa Ahmed
This document discusses factors that influence the success of brand extensions. It presents four hypotheses: 1) Extensions into more similar categories will be more accepted; 2) Brands with higher reputations will have more favorable extensions; 3) Higher perceived risk of the extension category will lead to more positive evaluations; 4) Consumers' innovativeness will lead to more positive evaluations. The document reports on research testing these hypotheses for fast-moving consumer goods, durable goods, and services brands. Descriptive, bivariate, and multivariate analyses provide support for the hypotheses.
Tired of chasing down expiring contracts and drowning in paperwork? Mastering contract management can significantly enhance your business efficiency and productivity. This guide unveils expert secrets to streamline your contract management process. Learn how to save time, minimize risk, and achieve effortless contract management.
Enhancing Adoption of AI in Agri-food: IntroductionCor Verdouw
Introduction to the Panel on: Pathways and Challenges: AI-Driven Technology in Agri-Food, AI4Food, University of Guelph
“Enhancing Adoption of AI in Agri-food: a Path Forward”, 18 June 2024
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NIMA2024 | De toegevoegde waarde van DEI en ESG in campagnes | Nathalie Lam |...BBPMedia1
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AI Transformation Playbook: Thinking AI-First for Your BusinessArijit Dutta
I dive into how businesses can stay competitive by integrating AI into their core processes. From identifying the right approach to building collaborative teams and recognizing common pitfalls, this guide has got you covered. AI transformation is a journey, and this playbook is here to help you navigate it successfully.
The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
In a world where the potential of youth innovation remains vastly untouched, there emerges a guiding light in the form of Norm Goldstein, the Founder and CEO of EduNetwork Partners. His dedication to this cause has earned him recognition as a Congressional Leadership Award recipient.
Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...Niswey
50 million companies worldwide leverage WhatsApp as a key marketing channel. You may have considered adding it to your marketing mix, or probably already driving impressive conversions with WhatsApp.
But wait. What happens when you fully integrate your WhatsApp campaigns with HubSpot?
That's exactly what we explored in this session.
We take a look at everything that you need to know in order to deploy effective WhatsApp marketing strategies, and integrate it with your buyer journey in HubSpot. From technical requirements to innovative campaign strategies, to advanced campaign reporting - we discuss all that and more, to leverage WhatsApp for maximum impact. Check out more details about the event here https://events.hubspot.com/events/details/hubspot-new-delhi-presents-unlocking-whatsapp-marketing-with-hubspot-integrating-messaging-into-your-marketing-strategy/