The document discusses several key aspects of strategy and operations management:
1) It outlines different views on what constitutes strategy, ranging from plans and patterns to learning processes and positioning.
2) It discusses the importance of operations in meeting evolving customer needs for better quality and lower prices.
3) It notes that both tactical and strategic concerns are important in operations management, including areas like process choice, innovation, and customer satisfaction.
4) It provides examples of the specifics of operations strategy, such as capacity levels, technology investments, and organizational structure.
The document provides an overview of a strategic management course. The objectives are to familiarize students with strategic management concepts and frameworks, and develop their ability to apply these concepts to understand business performance, generate strategy options, assess options under uncertainty, select and implement strategies. The course also aims to integrate previous learning and develop a general management perspective and judgment.
A summary lecture on Strategic Management. Given at Copenhagen Business School's MBA program spring 2010, while in the program.
The presentation gives an overview of the field of strategy. Extra attention is given to strategic innovation as a core discipline.
The presentation is rounded out by a Goldman Sachs strategy case.
Please contact Christian@engage-innovate.com for further information.
This is the first lecture of 40 lectures planned for Anna University/Anna University of Technology students of 3ed semester MBA. Please provide your comments. The required notes will be uploaded soon.
This document provides the course syllabus for Strategic Management (571309) taught by Dr. K. Prabhakar at Velammal Engineering College, Chennai. The course is offered in the third semester of the MBA program. It covers 5 units related to strategic management concepts and frameworks. The course objectives focus on applying analytical tools to understand industry dynamics and formulate strategies. Teaching methods include lectures, case studies, and a project. Readings from Harvard Business Review on topics like strategic intent, competitive forces, core competencies, and the balanced scorecard are also assigned.
A complete Lecture on Strategic Management [At MBA Level], including the various option of strategies including the latest option of application of Maqasid Al-Shariah in Strategic Management.
This document discusses strategic management concepts including strategy, competitive advantage, core competence, synergy, value creation, and emergent strategies. It provides examples of each concept from companies like Toyota, Reliance Industries, and Honda. The key points are:
- Strategy involves how a company distinguishes itself and competes in its industry to gain advantage.
- Core competence refers to an activity a company excels in compared to competitors, like Toyota's focus on efficiency and quality.
- Synergy occurs when different business units work together to create value, as seen in integrated oil and gas companies.
- Value creation involves understanding customers and developing offerings that deliver the most benefit. Emergent strategies can arise from un
Strategic management is often called a "capstone course" because it requires students to use knowledge from prior courses to chart organizations' futures. Performing an external audit generally requires the most time in strategy formulation, as it involves identifying competitors' strengths and weaknesses. Strategy implementation is often the most difficult stage because it requires commitment from all employees. It is important to integrate both intuition and analysis in strategic management, as neither alone is sufficient for good strategic decisions. Vision and mission statements greatly facilitate reaching agreement on strategies, objectives, and policies.
Business Policy, Strategy, History of Strategy, Strategic Management, Strategic business unit, Strategic Intent, Vision, Mission, Goals, Objectives, Plans
The document provides an overview of a strategic management course. The objectives are to familiarize students with strategic management concepts and frameworks, and develop their ability to apply these concepts to understand business performance, generate strategy options, assess options under uncertainty, select and implement strategies. The course also aims to integrate previous learning and develop a general management perspective and judgment.
A summary lecture on Strategic Management. Given at Copenhagen Business School's MBA program spring 2010, while in the program.
The presentation gives an overview of the field of strategy. Extra attention is given to strategic innovation as a core discipline.
The presentation is rounded out by a Goldman Sachs strategy case.
Please contact Christian@engage-innovate.com for further information.
This is the first lecture of 40 lectures planned for Anna University/Anna University of Technology students of 3ed semester MBA. Please provide your comments. The required notes will be uploaded soon.
This document provides the course syllabus for Strategic Management (571309) taught by Dr. K. Prabhakar at Velammal Engineering College, Chennai. The course is offered in the third semester of the MBA program. It covers 5 units related to strategic management concepts and frameworks. The course objectives focus on applying analytical tools to understand industry dynamics and formulate strategies. Teaching methods include lectures, case studies, and a project. Readings from Harvard Business Review on topics like strategic intent, competitive forces, core competencies, and the balanced scorecard are also assigned.
A complete Lecture on Strategic Management [At MBA Level], including the various option of strategies including the latest option of application of Maqasid Al-Shariah in Strategic Management.
This document discusses strategic management concepts including strategy, competitive advantage, core competence, synergy, value creation, and emergent strategies. It provides examples of each concept from companies like Toyota, Reliance Industries, and Honda. The key points are:
- Strategy involves how a company distinguishes itself and competes in its industry to gain advantage.
- Core competence refers to an activity a company excels in compared to competitors, like Toyota's focus on efficiency and quality.
- Synergy occurs when different business units work together to create value, as seen in integrated oil and gas companies.
- Value creation involves understanding customers and developing offerings that deliver the most benefit. Emergent strategies can arise from un
Strategic management is often called a "capstone course" because it requires students to use knowledge from prior courses to chart organizations' futures. Performing an external audit generally requires the most time in strategy formulation, as it involves identifying competitors' strengths and weaknesses. Strategy implementation is often the most difficult stage because it requires commitment from all employees. It is important to integrate both intuition and analysis in strategic management, as neither alone is sufficient for good strategic decisions. Vision and mission statements greatly facilitate reaching agreement on strategies, objectives, and policies.
Business Policy, Strategy, History of Strategy, Strategic Management, Strategic business unit, Strategic Intent, Vision, Mission, Goals, Objectives, Plans
Strategic management involves ongoing formulation, implementation, and evaluation of plans to help an organization achieve its objectives. Key terms in strategic management include strategists, who are responsible for the organization's success; mission statements, which identify the scope of operations; and external opportunities and threats, as well as internal strengths and weaknesses, which are assessed through environmental scanning.
This document discusses vision and mission statements. It defines a vision statement as answering what an organization wants to become, while a mission statement answers what an organization's business is. The document provides examples of vision and mission statements from companies and organizations. It describes the importance of vision and mission statements in providing focus and uniting employees. Characteristics of effective statements are also outlined, including being concise, broad, and reflecting social responsibilities.
The document discusses organizational scanning and the key factors that determine an organization's capabilities, including financial, marketing, production, personnel, and general management capabilities. It provides examples of each type of capability factor and how they relate to an organization's competitive strengths and weaknesses. The overall aim is to help organizations understand their current capabilities and identify areas for improvement.
Organization and Management Guide,Chapter 8 Strategic Management by Stephen Robbins and Mary Coulter Management Book 12th Edition, Pearson Publication.
The document contains a chapter quiz on strategic management concepts including external analysis, competitive forces, international business challenges, and forecasting methods. It tests understanding of concepts like Porter's five forces model, reasons for shifts in foreign direct investment, and appropriate forecasting approaches given certain conditions. Correct answers are provided for multiple choice questions testing comprehension of strategic management terminology and theories.
Summary of Chapter 1 What is Strategy - Understanding Strategic ManagementDonny Sitompul
This chapter discusses key concepts in strategic management including strategy, strategic management, and different perspectives on strategy formulation. Strategy aims to achieve competitive advantage by meeting customer needs better than rivals. Strategic management involves analyzing, formulating, and implementing strategy. There are two main perspectives on strategy - the design school which views strategy as planned and deliberate, and the learning school which sees strategy as more emergent and adaptive.
The document discusses the concept of strategy from various perspectives. It begins by noting that strategy can be viewed as both complex and nebulous or simple and clear. The reality is that there is no single definition of strategy and opinions vary. The document then examines different elements and frameworks for understanding strategy, including its key components of arena, staging, vehicles, differentiators and economic logic. It also explores the iterative nature of strategy development and challenges of implementation. Overall, the document suggests that good strategy provides a sustainable advantage, is flexible but not reactive, incorporates all key elements cohesively, and considers organizational change needs for effective execution.
This document summarizes key concepts from a textbook on strategic management. It discusses three main themes covered in the book: global considerations impacting strategic decisions, information technology as a strategic tool, and preserving the environment. It also outlines the strategic management process, benefits of good strategic management, and importance of ethics in business strategy.
The document discusses the development of the resource-based view of the firm and provides a critical appraisal of the theory, outlining both its methodological difficulties and practical insights. It examines the empirical evidence supporting the resource-based view and addresses areas that require further focus, such as resource functionality and combining the theory with other strategic perspectives.
The document summarizes a two-day strategy session for middle managers and supervisors. The session aims to improve professional and personal development skills through interactive exercises and discussions around topics like leadership, problem-solving, decision-making, and aligning individual and team goals with organizational strategy. Facilitators will use lectures, group activities, videos, and feedback to help participants gain clarity on performance expectations and better coordinate efforts to achieve shared objectives.
This document outlines key concepts in strategic management. It defines strategy as a course of action to achieve goals and objectives. It also discusses strategic intent as a desired leadership position and stretch as a strategic planning period. Additionally, it defines competitive advantage as an internal factor that gives a firm superiority over competitors. Some sources of competitive advantage mentioned include superior skills, resources, position, customer service and technology.
This document provides an overview of strategic management concepts including:
- The role of strategy is to find a way for an organization to succeed and create value in a complex environment.
- Elements of a competitive strategy include differentiating or lowering costs to create value relative to competitors.
- An organization's strategy must account for market and non-market factors that can influence its performance.
- Developing and implementing a strategy requires aligning an organization's resources, capabilities, and activities to fit its strategic context and goals.
This document discusses strategic human resource management and the HR scorecard. It covers the following key points:
1. It outlines the steps in the strategic management process and explains different types of company and competitive strategies.
2. It introduces the concept of a high performance work system and why it is important for organizational success.
3. It describes the seven steps in the HR scorecard approach for aligning HR systems with business strategy, including translating strategy into HR policies and practices.
The document outlines the five essential elements of strategy: objective, necessary condition, success metric, target value, and means. It defines each element and provides examples to illustrate how they fit together to form a strategic plan. Specifically, it shows how setting an objective requires determining necessary conditions, then devising success metrics with target values, and identifying means to move the metrics toward the targets to achieve the objective. The overall process involves iteratively applying the five elements to break down strategies into understandable, actionable components.
The document discusses the differences between strategic thinking and strategic planning. It notes that while many companies rely on formal strategic planning processes, planning is not the same as strategic thinking. Strategic thinking refers to a general manager's ability to develop and maintain a conceptual model that ties together various strategic elements and allows them to assess the impact of changes. The document argues that strategic planners should support, rather than be inside, the strategy-making process, which should focus on synthesis and learning from various sources to determine strategic direction.
Effective strategic leadership involves developing a long-term strategic vision, exploiting core competencies, developing human capital, sustaining an effective culture, establishing balanced organizational controls, and emphasizing ethical practices. A strategic leader determines strategic direction by creating a vision of strategic intent and structures the organization effectively. They also develop human capital and exploit core competencies, which cannot be done without developing people. Additionally, strategic leaders sustain culture through constant learning and teamwork, and establish controls and ethical practices to guide the organization.
Talent managementDefinition of strategic talent management .docxperryk1
Talent management
Definition of strategic talent management:
“Activities and processes that involve the systematic identification of key positions which differentially contribute to the organisation's sustainable competitive advantage, the development of a talent pool of high potential and high performing incumbents to fill these roles, and the development of a differentiated human resource architecture to facilitate filling these positions with competent incumbents and to ensure their continued commitment to the organisation.”
(Collings & Mellahi, 2009, p. 304)
Practices to acquire, develop and deploy talent:
Talent identification
Talent pool Talent pipeline
Talent Management viewed as a life cycle
(Thunnissen, Boselie& Fruytier, 2012)
Genesis: “The war for talent” (McKinsey & Co, 1997)
· Demographic changes
· Increased mobility and globalisation
· Transformations in the business environment:
• Shift away from product‐based economies • Complexity • Changes in organizational structure
• Relationships
talent Management in terms of a life cycle
(Thunnissen, Boselie& Fruytier, 2012)
• Infancy
· Undefined boundary
· Unclear scope
• Adolescence: Themes ‐
• Definitions • Benefits • Practices
“To be in a position to reap the benefits that talent management maturity offers, Organisations globally, and in emerging growth markets, should instead view the talent experience as a networked, customizable system individuals – and their relationship with the organisation – at the centre
the dominant human capital topic of the 21st century (Cascio & Aguinis, 2008)
Justification for the practice of Talent Management
(Garavan, 2012)
· People, intellectual capital and talent are viewed as critical components of strategic success irrespective of competitive and economic pressures (p. 2428)
· Enables firms to achieve competitive advantage
· A critical capability which distinguishes successful global firms
· Tied to the RBV of the firm – worthy of investment/competing demands • Alignment of talent changed strategic priorities • An increased focus on flexibility, quality, cost and innovativeness of talent to achieve strategy • Use of talent to support merger and acquisition activity • Challenges: associated with international organisational structural design
“The reasons for this continued investment primarily focused on concerns about:
· The difficulties in attracting high potential talent
· The challenge of retaining top performers
· The need to have a strong leadership pipeline; And, most important of all
• the concern that business growth needed to be sustained.”
(Garavan, 2012, p.2443)
Biggest risk to successful TM in MNEs: Implementation (Garavan, 2012)
· Innovation v costs
· Partnering (co‐ordination) v cohesiveness (control)
· Openness v compliance
· Diverse perspectives v strategic decision‐making
· Building brand v costs
As a component of strategic management, not (S)HR
(Swailes, Do.
1) The document summarizes Porter's 1996 paper "What is Strategy?" which defines strategy as creating unique activities that are valuable and difficult for rivals to imitate. It aims to differentiate strategy from operational effectiveness.
2) The paper discusses how many managers focus on operational effectiveness like benchmarking and outsourcing rather than developing a unique strategy, leading companies to be unable to sustain profits. Strategy requires choosing a unique position and making trade-offs that competitors cannot easily copy.
3) A strong leader is needed to develop and clearly communicate a strategy while maintaining discipline and focus on customers as industries change. Strategy and operational effectiveness are different and both are needed but strategy should not be replaced by a focus only on effectiveness.
Emerging Market SME Turnaround in a Recession: Theory and Practice. Cincinnat...Guy Pearce
A presentation on the academic context (high level literature review) for business turnaround made to the International Council of Small Business in the US on 27 Jun 2010
The document discusses technology selection as part of the technology management framework. It defines selection as choosing between rival technical regimes based on direct social and political action of organizations. Selection is contextualized within technological evolution, which is viewed as an evolutionary system involving variation, selection, and retention. Technology strategies are also discussed, including performing better on existing competition dimensions, establishing new dimensions, and creating new product-market combinations. A sample SWOT analysis is provided as a strategy tool used in technology audits.
Advantages And Limitations Of Performance Measurement Tools The Balanced Sco...Andrea Porter
This document discusses performance measurement tools, specifically comparing the Balanced Scorecard (BSC) to other tools. It notes that the BSC considers both financial and non-financial metrics to determine organizational performance, representing both a measurement tool and a performance management system. While widely used, the BSC has some limitations in dynamic environments. The document advocates combining various tools and approaches rather than relying solely on one evaluation framework like the BSC, to better align strategy as the business environment changes.
Strategic management involves ongoing formulation, implementation, and evaluation of plans to help an organization achieve its objectives. Key terms in strategic management include strategists, who are responsible for the organization's success; mission statements, which identify the scope of operations; and external opportunities and threats, as well as internal strengths and weaknesses, which are assessed through environmental scanning.
This document discusses vision and mission statements. It defines a vision statement as answering what an organization wants to become, while a mission statement answers what an organization's business is. The document provides examples of vision and mission statements from companies and organizations. It describes the importance of vision and mission statements in providing focus and uniting employees. Characteristics of effective statements are also outlined, including being concise, broad, and reflecting social responsibilities.
The document discusses organizational scanning and the key factors that determine an organization's capabilities, including financial, marketing, production, personnel, and general management capabilities. It provides examples of each type of capability factor and how they relate to an organization's competitive strengths and weaknesses. The overall aim is to help organizations understand their current capabilities and identify areas for improvement.
Organization and Management Guide,Chapter 8 Strategic Management by Stephen Robbins and Mary Coulter Management Book 12th Edition, Pearson Publication.
The document contains a chapter quiz on strategic management concepts including external analysis, competitive forces, international business challenges, and forecasting methods. It tests understanding of concepts like Porter's five forces model, reasons for shifts in foreign direct investment, and appropriate forecasting approaches given certain conditions. Correct answers are provided for multiple choice questions testing comprehension of strategic management terminology and theories.
Summary of Chapter 1 What is Strategy - Understanding Strategic ManagementDonny Sitompul
This chapter discusses key concepts in strategic management including strategy, strategic management, and different perspectives on strategy formulation. Strategy aims to achieve competitive advantage by meeting customer needs better than rivals. Strategic management involves analyzing, formulating, and implementing strategy. There are two main perspectives on strategy - the design school which views strategy as planned and deliberate, and the learning school which sees strategy as more emergent and adaptive.
The document discusses the concept of strategy from various perspectives. It begins by noting that strategy can be viewed as both complex and nebulous or simple and clear. The reality is that there is no single definition of strategy and opinions vary. The document then examines different elements and frameworks for understanding strategy, including its key components of arena, staging, vehicles, differentiators and economic logic. It also explores the iterative nature of strategy development and challenges of implementation. Overall, the document suggests that good strategy provides a sustainable advantage, is flexible but not reactive, incorporates all key elements cohesively, and considers organizational change needs for effective execution.
This document summarizes key concepts from a textbook on strategic management. It discusses three main themes covered in the book: global considerations impacting strategic decisions, information technology as a strategic tool, and preserving the environment. It also outlines the strategic management process, benefits of good strategic management, and importance of ethics in business strategy.
The document discusses the development of the resource-based view of the firm and provides a critical appraisal of the theory, outlining both its methodological difficulties and practical insights. It examines the empirical evidence supporting the resource-based view and addresses areas that require further focus, such as resource functionality and combining the theory with other strategic perspectives.
The document summarizes a two-day strategy session for middle managers and supervisors. The session aims to improve professional and personal development skills through interactive exercises and discussions around topics like leadership, problem-solving, decision-making, and aligning individual and team goals with organizational strategy. Facilitators will use lectures, group activities, videos, and feedback to help participants gain clarity on performance expectations and better coordinate efforts to achieve shared objectives.
This document outlines key concepts in strategic management. It defines strategy as a course of action to achieve goals and objectives. It also discusses strategic intent as a desired leadership position and stretch as a strategic planning period. Additionally, it defines competitive advantage as an internal factor that gives a firm superiority over competitors. Some sources of competitive advantage mentioned include superior skills, resources, position, customer service and technology.
This document provides an overview of strategic management concepts including:
- The role of strategy is to find a way for an organization to succeed and create value in a complex environment.
- Elements of a competitive strategy include differentiating or lowering costs to create value relative to competitors.
- An organization's strategy must account for market and non-market factors that can influence its performance.
- Developing and implementing a strategy requires aligning an organization's resources, capabilities, and activities to fit its strategic context and goals.
This document discusses strategic human resource management and the HR scorecard. It covers the following key points:
1. It outlines the steps in the strategic management process and explains different types of company and competitive strategies.
2. It introduces the concept of a high performance work system and why it is important for organizational success.
3. It describes the seven steps in the HR scorecard approach for aligning HR systems with business strategy, including translating strategy into HR policies and practices.
The document outlines the five essential elements of strategy: objective, necessary condition, success metric, target value, and means. It defines each element and provides examples to illustrate how they fit together to form a strategic plan. Specifically, it shows how setting an objective requires determining necessary conditions, then devising success metrics with target values, and identifying means to move the metrics toward the targets to achieve the objective. The overall process involves iteratively applying the five elements to break down strategies into understandable, actionable components.
The document discusses the differences between strategic thinking and strategic planning. It notes that while many companies rely on formal strategic planning processes, planning is not the same as strategic thinking. Strategic thinking refers to a general manager's ability to develop and maintain a conceptual model that ties together various strategic elements and allows them to assess the impact of changes. The document argues that strategic planners should support, rather than be inside, the strategy-making process, which should focus on synthesis and learning from various sources to determine strategic direction.
Effective strategic leadership involves developing a long-term strategic vision, exploiting core competencies, developing human capital, sustaining an effective culture, establishing balanced organizational controls, and emphasizing ethical practices. A strategic leader determines strategic direction by creating a vision of strategic intent and structures the organization effectively. They also develop human capital and exploit core competencies, which cannot be done without developing people. Additionally, strategic leaders sustain culture through constant learning and teamwork, and establish controls and ethical practices to guide the organization.
Talent managementDefinition of strategic talent management .docxperryk1
Talent management
Definition of strategic talent management:
“Activities and processes that involve the systematic identification of key positions which differentially contribute to the organisation's sustainable competitive advantage, the development of a talent pool of high potential and high performing incumbents to fill these roles, and the development of a differentiated human resource architecture to facilitate filling these positions with competent incumbents and to ensure their continued commitment to the organisation.”
(Collings & Mellahi, 2009, p. 304)
Practices to acquire, develop and deploy talent:
Talent identification
Talent pool Talent pipeline
Talent Management viewed as a life cycle
(Thunnissen, Boselie& Fruytier, 2012)
Genesis: “The war for talent” (McKinsey & Co, 1997)
· Demographic changes
· Increased mobility and globalisation
· Transformations in the business environment:
• Shift away from product‐based economies • Complexity • Changes in organizational structure
• Relationships
talent Management in terms of a life cycle
(Thunnissen, Boselie& Fruytier, 2012)
• Infancy
· Undefined boundary
· Unclear scope
• Adolescence: Themes ‐
• Definitions • Benefits • Practices
“To be in a position to reap the benefits that talent management maturity offers, Organisations globally, and in emerging growth markets, should instead view the talent experience as a networked, customizable system individuals – and their relationship with the organisation – at the centre
the dominant human capital topic of the 21st century (Cascio & Aguinis, 2008)
Justification for the practice of Talent Management
(Garavan, 2012)
· People, intellectual capital and talent are viewed as critical components of strategic success irrespective of competitive and economic pressures (p. 2428)
· Enables firms to achieve competitive advantage
· A critical capability which distinguishes successful global firms
· Tied to the RBV of the firm – worthy of investment/competing demands • Alignment of talent changed strategic priorities • An increased focus on flexibility, quality, cost and innovativeness of talent to achieve strategy • Use of talent to support merger and acquisition activity • Challenges: associated with international organisational structural design
“The reasons for this continued investment primarily focused on concerns about:
· The difficulties in attracting high potential talent
· The challenge of retaining top performers
· The need to have a strong leadership pipeline; And, most important of all
• the concern that business growth needed to be sustained.”
(Garavan, 2012, p.2443)
Biggest risk to successful TM in MNEs: Implementation (Garavan, 2012)
· Innovation v costs
· Partnering (co‐ordination) v cohesiveness (control)
· Openness v compliance
· Diverse perspectives v strategic decision‐making
· Building brand v costs
As a component of strategic management, not (S)HR
(Swailes, Do.
1) The document summarizes Porter's 1996 paper "What is Strategy?" which defines strategy as creating unique activities that are valuable and difficult for rivals to imitate. It aims to differentiate strategy from operational effectiveness.
2) The paper discusses how many managers focus on operational effectiveness like benchmarking and outsourcing rather than developing a unique strategy, leading companies to be unable to sustain profits. Strategy requires choosing a unique position and making trade-offs that competitors cannot easily copy.
3) A strong leader is needed to develop and clearly communicate a strategy while maintaining discipline and focus on customers as industries change. Strategy and operational effectiveness are different and both are needed but strategy should not be replaced by a focus only on effectiveness.
Emerging Market SME Turnaround in a Recession: Theory and Practice. Cincinnat...Guy Pearce
A presentation on the academic context (high level literature review) for business turnaround made to the International Council of Small Business in the US on 27 Jun 2010
The document discusses technology selection as part of the technology management framework. It defines selection as choosing between rival technical regimes based on direct social and political action of organizations. Selection is contextualized within technological evolution, which is viewed as an evolutionary system involving variation, selection, and retention. Technology strategies are also discussed, including performing better on existing competition dimensions, establishing new dimensions, and creating new product-market combinations. A sample SWOT analysis is provided as a strategy tool used in technology audits.
Advantages And Limitations Of Performance Measurement Tools The Balanced Sco...Andrea Porter
This document discusses performance measurement tools, specifically comparing the Balanced Scorecard (BSC) to other tools. It notes that the BSC considers both financial and non-financial metrics to determine organizational performance, representing both a measurement tool and a performance management system. While widely used, the BSC has some limitations in dynamic environments. The document advocates combining various tools and approaches rather than relying solely on one evaluation framework like the BSC, to better align strategy as the business environment changes.
This document summarizes and critically analyzes five major theories on the choice of foreign market entry mode: the stage of development model, transaction cost analysis model, ownership-location-internalization model, organization capacity model, and decision making process model. It discusses the strengths and weaknesses of each theory based on empirical studies testing them. There are inconsistencies between the theories and between theories and empirical results, calling for further research to better understand factors influencing entry mode choice.
SMS Knowledge and Innovation Foundations Interview A Conversation with Profes...Ekin14
The session is dedicated to the well-established tradition within the K&I interest group to interview foundational scholars in the field of strategic management, whose influential work encompasses strategy, organizational knowledge and innovation. In 2018, we had the pleasure of presenting Prof. Constance Helfat. During the session, we heard about the evolution of her career in the field of Strategy and had the opportunity to listen to her experience in the advancement of the field. We learned about her perspective on the process of doing research and her view on the field of Strategy going forward. This interview was conducted at the 2018 SMS Annual Conference Paris as part of the Foundations Interviews by the Knowledge and Innovation Interest Group.
The document discusses strategic management and outlines several key concepts:
1. Strategic management involves managerial decisions and actions to generate sustainable competitive advantage. It balances external opportunities and threats with internal strengths and weaknesses.
2. Effective strategies emerge over time through a process of trial and error, rather than being fully planned in advance. Managers must balance following intentional plans with adapting to changes.
3. In knowledge-based organizations, strategic management focuses on encouraging new ideas, awareness of the external environment, and social interaction, rather than top-down planning. The role of managers is to identify emerging order rather than direct it.
M M Bagali, PhD, Research paper, MBA Faculty, HRM, HR, HRD, PhD in HR and Man...dr m m bagali, phd in hr
This document discusses establishing skills supremacy as a strategy for sustaining competitive advantage. It suggests that companies build a sizable skills inventory that can be reskilled quickly to achieve growth objectives. Having only one competitive factor like technology or design is not a sustainable long-term strategy, as seen with companies like Blackberry and Nokia. The document reviews literature supporting the link between workforce skills and organizational performance, finding that higher skilled employees increase productivity and qualifications serve as a proxy for skills. It proposes that developing a skills-centric culture and translating skills dominance into market dominance can help companies achieve long-run market leadership.
This document discusses organizational design (OD) and its importance for future-proofing organizations. It defines OD as a methodology for identifying and addressing dysfunctional aspects of an organization's structures, systems and processes. The presentation outlines the benefits of OD, including improved efficiency and employee engagement. It also discusses critical success factors for OD, such as clear profit responsibilities. Models for OD are presented, including the five trademarks of agile organizations and Galbraith's star model of organizational design.
REW ARD AND COMPENSATION STRATEGY ISSUES ANDCHALLENGESS.docxjoellemurphey
REW ARD AND COMPENSATION STRATEGY: ISSUES AND
CHALLENGES
Sami A. Khan
The procurement, development and retaining of employees have never been so
important than today in most of the organizations worldwide. Companies are
relentlessly searching for ways to retain their core employees. Understand-
ing the interlinkages between peljormance management strategy, training
and development strategy. compensation strategy. and deployment of em-
ployees has become very vital for attracting, motivating and retaining good
employees. In this era of restructuring and downsizing, much needs to be
done by the employers to motivate their employees. The companies who are
restructuring themselves are finding it difficult to keep up the morale of their
employees. In many cases. the huge incentive and performance related pay
systems have failed, and the psychological contract between employees and
employers is under the process of redefinition. To sustain the motivational
level of employees. organizations must demonstrate to them a close link be-
tween performance and rewards. This is the rationale which is advocated
for the Lise of merit pay. But in spite of its attractiveness. the PRP and ESOP
sometimes bring about results precisely the opposite from the desired ones.
The role of H R manager has to be a facilitator's one to encourage line man-
agers in creating such an environment. The communication level between
the different st'akeholders is also required to be high to dispel any misunder-
standing and then a right kind of performance based work culture can be
nurtured.
INTRODUCTION
1fhe decade of the 90s will be known for mergers, acquisitions,restructuring and downsizing in business history. Companies. started looking beyond the internal boundaries for repositioning them-
selves to face the eventuality of the new, complex and fast-changing busi-
ness scenario. Though this was a difficult proposition for them as the rules
ofthe game were changing very fast, some ofthem grabbed this opportunity
nicely and became winners whereas some lagged behind. Gary Hamel re-
Management & Change. Volume 4. Number I (January-June 2000)
~ 2000 Institute for Integrated Learning in Management. All Rights Reserved.
92 Reward and Compensation Strategy: Issues and Challenges
marks that, "simply catching up to where others have been is necessary to
stay in the game, but the winners will be those companies who have the
ability to invent fundamentally new games." He is of the view that what-
ever any organization needs to know to create the future, it can. Microsoft
knew what it wanted as did CNN. He poses a question: Why was it CNN
rather than the BBC that created the global news network?!
In fact, the success of the company depended on its adaptability, re-
~ponsiveness and the extent of new learning. A business strategy with a
facilitating structure, system and processes acquired more attention in the
firms at the tail end of the twentieth century. The people management ...
Corporate Real Estate Impact on Enterprise SuccessRegus
This research explores the relationship between the perceived maturity and capability of Corporate Real Estate (CRE) practices and the economic performance of business enterprises. It focuses on Fortune 500-sized organisations.
http://www.regus.com/?utm_campaign=slideshare
Linking Individual Performance To Business Strategyguest5e0c7e
This document describes research conducted with seven large UK companies to understand how business strategies are translated through human resource strategies and processes into individual and organizational performance. The researchers created a map of the linkage between business strategy and individual performance through organizational capabilities like vertical, horizontal, and temporal linkage of people processes. The strength of linkage between people processes and business strategy varied across companies and processes. A key finding was that temporal linkage, which addresses how strategies transform to meet future needs, is particularly important given the long time cycles of people resources.
This document discusses the Balanced Scorecard (BSC) methodology and its implementation at Tata Steel, a large Indian steel company. It provides background on the development of the BSC and describes how Tata Steel formalized its BSC system between 1999-2001. Key steps included revisiting the company's vision/mission/values, preparing a strategy diagram, training employees, and designing a new quality management structure. The BSC system was implemented alongside existing total quality management and business excellence initiatives. This integrated approach helped Tata Steel successfully deploy its strategy, achieve a turnaround, and eventually acquire Corus, cementing its position as a global steel leader.
STR_Abhinava Singh_PAP_Competitive Advantage in New Patent RegimeAbhinava Singh
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2. The Nature of
Strategy
• Concerned with meeting existing market needs as well as exploiting opportunities for
potential market segments (Kim and Mauborgne 2002, Nunes and Cespedes 2003)
• About making the best use of resources, and to leverage these resources either alone or
with partners (Wernerfelt 1984, Barney 1991, Dierickx, and Cool 1989, Lamming,
1993, Hines, 1994, Stump et al 2002, Ireland et al 2002).
• The ultimate responsibility of senior-level managers within the firm - of course we
recognise the vital of importance of a range of stakeholders in the process both within
the firm and with eternal linkages to the enterprise (Frambach et al 2003, Hax and
Majluf 1991, Dougherty and Corse 1995).
• About devising and implementing processes that will enable the enterprise to compete
and, ideally, to create competitive advantage (Whittington 2001, Hamilton et al 1998).
• Concerned with developing capabilities within the firm’s Operations that are superior
to other competitors and which other competitors either cannot copy, or will find it
extremely difficult, to copy (Teece et al 1997, Eisenhardt and Martin 2000).
3. Key Points
Where the
company is
currently – in
terms of markets,
products and other
corporate goals
Where the organisation
wants to be – in terms
of markets, products
and other corporate
goals – plugging gaps
between planned
strategy and actual
outcomes
The Change Process
MISSION STRATEGY FUTURE STATE
4. What is Strategy: Some amusing complexities:
(Adapted from Chaharbaghi and Willis 1998)
·a bizarre game (Stacey, 1993);
·a plan, a master plan, a pattern, a position, a ploy, a perspective
(Mintzberg, 1994; Wheelen and Hunger, 1992);
·an integrative blueprint (Hax, 1990);
·a way of thinking or state of mind (Dixit and Nalebuff, 1991;
Ohmae, 1982);
·innovation (Baden-Fuller and Pitt, 1996);
·a black art (Hax, 1990);
·language (Goddard and Houlder, 1995); and
·a learning process (Senge, 1990).
5. What is Strategy: Some amusing complexities:
(Adapted from Chaharbaghi and Willis 1998) cont..
·dependence, independence and interdependence (Bartlett and Ghoshal,
1987);
·market coverage (Daems, 1990);
·intent (Hamel and Prahalad, 1989);
·developing core competencies (Prahalad and Hamel, 1990);
·anticipating change (Peters and Waterman, 1982);
·vision (Mintzberg, 1995);
·responding to external opportunities and threats, establishing purpose and
the economic and non-economic contribution made to stakeholders (Hax,
1990);
·proconfiguring thinking (Pascale, 1984);
·developing distinctive capabilities that add value (Kay, 1994);
·parenting advantage and adding value (Goold and Campbell, 1991);
6. What is Strategy: Some amusing complexities:
(Adapted from Chaharbaghi and Willis 1998) cont...
• Strategy is also considered to be about:
• ·standardisation (Douglas and Wind, 1987);
• ·differentiation and cost leadership (Porter, 1985);
• ·sticking to the knitting (Peters and Waterman, 1982);
• ·fit and scope (Johnson and Scholes, 1997);
• ·stretch and leverage (Hamel and Prahalad, 1994);
• ·differentiating managerial tasks and asserting vital continuity (Hax,
1990);
• ·exploiting leverage (Lele, 1992);
• ·survival (Booth, 1993);
• ·winning (Ellis and Williams, 1995);
• ·global co-ordination (Prahalad and Doz, 1986);
7. What is Strategy: Some amusing complexities:
(Adapted from Chaharbaghi and Willis 1998) cont...
·logical incrementalism (Quinn, 1978);
·coping with competition (Porter, 1979);
·implementation (Hrebiniak and Joyce, 1984);
·time-based competitive advantage (Stalk, 1988);
·capabilities-based competition (Stalk et al., 1992);
·outpacing (Gilbert and Strebel, 1989);
·portfolio planning (Haspeslagh, 1982);
·portfolio management, restructuring, transferring skills, and sharing
activities (Porter, 1987);
·structure (Chandler, 1962);
·co-operation (Contractor and Lorange, 1988);
8. What is Strategy: Some amusing complexities:
(Adapted from Chaharbaghi and Willis 1998) cont...
•·alliances (Reve, 1990);
•·collaboration (Hamel et al., 1989);
•·confrontation (Cooper, 1995);
•·network positions (Johanson and Mattsson, 1992);
•·bringing order from chaos (Stacey, 1993);
•·choosing good firms (Baden-Fuller and Stopford, 1992); and
•·choosing good industries (Porter, 1980; 1990).
Strategy can also be:
•·generic (Porter, 1980);
•·deliberate or emergent (Mintzberg, 1994);
•·rational or incremental (Johnson, 1988);
•·prescriptive, descriptive, or configurational (Mintzberg and
Ansoff, 1994); and
•·implicit or explicit ( Mintzberg and Ansoff, 1994).
9. The Importance of Operations to Business & Market Needs:
The role of operations has become increasingly important in recent
times. This is because the needs and wants of customers and clients
have increased in recent times. This was described in a book called,
Funky Business:
"Let us tell you what all customers want. Any customer, in any
industry, in any market wants stuff that is both cheaper and
better, and they want it yesterday"
Ridderstrale and Nordstrom 2000: p157
10. The Current Era of Volatility ….
The U.S. Department of Labor
estimates that today’s learner will have
10-14 jobs . . . by the age of 38.
According to the U.S. Department of Labor
. . . 1 out of 4 workers today is working for
a company they have been employed by
for less than one year.
More than 1 out of 2 are working for a
company they have worked for less than
five years.
Source: U.S. Department of Labor, Aug 2007
12. An indication of the strategic content in operations strategy planning
•Process choice - the selection of the right approach to producing goods or delivering
service;
•Innovation - the adaptation or renewal of the organisation’s processes or outputs to ensure
they adapt to changes in the external environment;
•Supply chain management - the external management of relationships with suppliers to
ensure the effective and efficient supply of inputs;
•Control of resources - the internal management of inventories;
•Production control - the effective and efficient management of processes;
•Work organisation - the management and organisation of the workforce within the
organisation;
•Customer satisfaction - the management of quality.
13. Specifics of Operations Strategy
•Amounts of capacity required by the organisation to achieve its aims
•The range and locations of facilities
•Technology investment to support process and product developments
•Formation of strategic buyer-supplier relationships as part of the organisation’s
'extended enterprise‘
•The rate of new product or service introduction
•Organisational structure - to reflect what the firm’ does best', often entailing
outsourcing of other activities
15. Hemp (2002) suggests that a key part of the strategy has to be
ownership by the organisation’s’ employees:
You don't demand that employees say, "Certainly, my pleasure,” until
it feels right to them. You don't mindlessly assume every guest wants
to be pampered; some people just want to eat their dinners... A recent
study of hotel workers by researchers at Cornell's School of Hotel
Administration found that, while job satisfaction plays a major role in
employee retention, it isn't the key factor in a hotel's ability to provide
excellent customer service. Rather, it is employees' emotional
commitment-which is achieved in part through symbols and rituals
that enhance employees' sense of identity with the company- that
contributes most to superior performance. .. every company, even a
two-year-old start-up, has traditions and even legends that can be
tapped to help build employee commitment.
16. An Important Point on Strategy:
In their Harvard Business Review article, Collis and
Rukstad, (2008, 82) state:
“It's a dirty little secret: Most executives cannot articulate
the objective, scope, and advantage of their business in a
simple statement. If they can't, neither can anyone else”.
They then put forward the challenge:
“Can you summarize your company's strategy in 35 words
or less? If so, would your colleagues put it the same way?”
17. A Telling Issue:
“If you were to speak to a senior-level manager within an
organization, the likelihood is that, within a short period of time,
you would be a having a conversation that included a number of
management terms – core competences, key performance
indicators and critical success factors, among others. Ask the
same manager about how operations and operations
management line up within these terms and the likelihood is that
he or she might be mystified or perplexed by the question”.
Brown et al 2012: Strategic Operations Management
18. Why has this happened?
• The Answer lies in the change from Craft to
Mass Production… and the inability to change
still further in the era of mass customisation,
Agile manufacturing, Flexible Specialization
etc.
19. From Craft ..to Mass.. To Now
Craft:
Strategy Operations
Mass Production (Taylor, Ford etc….)
“strategy levels” $$$$$
Vast amounts of hierarchy PLUS
distance between strategy and
operations
“operations levels”
20. Heracleous and Wirtz (2010) provide insights into
Singapore Airlines’ Strategy
SIA's success in executing a dual strategy of differentiation and cost leadership
is unusual. Indeed, management experts, such as Michael Porter, argue that it's
impossible to do so for a sustained period since dual strategies entail
contradictory investments and organizational processes. Yet SIA, and a few
other emerging-economy companies, view the dualities as opposites that form
part of a whole. SIA executes its dual strategy by managing four paradoxes:
Achieving service excellence cost-effectively, fostering centralized and
decentralized innovation, being a technology leader and follower, and using
standardization to achieve personalization. The results speak for themselves:
SIA has delivered healthy financial returns; it has never had an annual loss; and
except for the initial capitalization, the Asian airline has funded its growth itself
while paying dividends every year.
21. Service Strategy
Service is becoming “super service” as machine tool builders and
other production equipment vendors innovate a new competitive
model. No longer a tired after-sales routine, service is now the
strategy that builds and establishes reputations, sells the product and
creates new business potential for vendor and customer alike. The
customer lesson: Leverage the service strategy of your suppliers.
Source: Winning With Service Industry Week 1st April 2006
22. Figure : The Service Profit Chain (adapted from Heskett et al 1997; 2008)
23. Strategic Resonance
Brown (2000: p6) has previously defined strategic resonance as:
“an ongoing, dynamic, strategic process whereby customer requirements
and organizational capabilities are in harmony and resonate. Strategic
resonance is more than strategic fit - a term which has often been used
(rightly in the past) to describe the ‘fit’ between the firms’ capabilities
and the market that it serves. Strategic resonance goes beyond that.
Strategic fit may be likened to a jigsaw where all parts fit together. This is
a useful view but it can have [….] a very static feel to it. In strategic fit it
is as if once the ‘bits’ are in place, the strategic planning is done.
24. Strategic Resonance
Strategic Resonance between Market Requirements
and Operations Capabilities (from Brown 2000; 2006;2009)
25. Strategic Resonance cont..
“Strategic resonance is a dynamic, organic process, which is about
ensuring continuous linkages and harmonization between:
•The market and the firm’s operations capabilities
•The firm’s strategy and its operations capabilities
•All functions and all levels within the firm.
Firms need to find and exploit their strategic resonance - between
markets and the firm; within the firm itself; and between senior level
strategists and plant-level, operations capabilities.”
(Brown 2000 p7)
26. Key Points
In addition to the huge managerial
responsibility of managing key assets,
costs and human resources, the
contribution of production and
operations management is vital because
it can provide a number of competitive
opportunities for the firm.
27. Key Points
Strategies must be in place if the
organisation is to compete in a
business world which is now chaotic,
requiring rapid and continuous
innovation, and open to global
competition in many industries and
markets
28. Key Points
In Japanese and other World-Class
companies, the contribution of
operations management to business
planning is central. This involvement
helps to guide the firm by matching
the firm's core capabilities with market
requirements.
29. Key Points
There have been major transitions from craft to
mass through to the current era of Mass
Customization, Agility, Lean and Strategic
Manufacturing. Each of these has represented a
major, world-wide innovation, with implications
for strategy formulation and profoundly
changing the way people work. In each case,
the new paradigm has made the previous one
largely, but not totally, redundant.
30. Key Points
Operations Strategy is vital as part of the wider,
business strategy, in integrating and combining
major competitive requirements including cost,
delivery speed, delivery reliability, flexibility
and customer-specific configurations.
31. Key Points
Having an operations strategy is important
because the ability to be agile, lean and flexible
does not come about by chance; such states are
achieved by enabling the organisation to be
poised to achieve such requirements. Operations
strategy becomes the means by which
capabilities become realised.