Strategic management involves formulating plans to achieve organizational objectives through allocating resources and assessing internal/external environments. This document discusses strategic management practice and its influence on successfully completing projects funded by Kenya's Constituency Development Fund (CDF) in rural areas. CDF funds are often spent on short-term projects benefiting few residents. Strategic management implementation requires clear aims, cultural receptivity, and proper planning. Challenges in Kenya include weak institutions, lack of transparency, and failure to address political distortions influencing CDF spending. The study examines how strategic management influences successful completion of CDF projects in rural Kenya.
This document discusses different types of strategies that organizations use. It outlines four main types of strategies:
1. Integration strategies which include vertical and horizontal integration to control suppliers and buyers.
2. Intensive strategies like market penetration, market development, and product development to improve competitive position in existing markets and products.
3. Diversification strategies such as related and unrelated diversification to expand into new product lines and markets to reduce risk.
4. Defensive strategies including retrenchment, divestiture, and liquidation aimed at reducing losses through cost cutting, selling divisions, or fully liquidating assets.
The document provides examples for each type of strategy.
"Interfaces Between Strategic Management of an Enterprise and Managing Project Portfolios Within the Enterprise" April 1, 2010, Istanbul Keynote paper
This document provides an overview of strategic management and strategic planning processes. It defines key concepts like strategy, strategic management, and strategic planning. It discusses the difference between strategic management and strategic planning. It also outlines the strategic planning process, importance of strategic planning, benefits and limitations of strategic management. Finally, it discusses categories of strategy including corporate-level strategy, business-level strategy, and functional strategy.
In today's volatile environment, with an increasingly rapid pace of change, organizations that successfully manage strategic initiatives manage to save more money and be ready to take advantage of their competitors.
The document discusses project portfolio management (PPM). It defines PPM as how an organization influences the direction of its project portfolio to achieve specific outcomes. Effective PPM provides benefits like better competitive positioning and lower project costs. The document then outlines 10 practical recommendations for effective PPM, including having single project managers contribute to the portfolio, using formal processes, applying strategic management theories, establishing project portfolio management offices, managing risks and uncertainties, employing negotiation and structural changes, balancing manager roles, exerting portfolio control, and using portfolio mapping and strategic methods.
This document discusses strategic planning in education. It begins by outlining various theories of planning like rationalism, empiricism, and organizational development. It then defines key concepts like strategic planning and development planning. Several rationales for strategic planning in organizations are provided, including reorienting to community needs and establishing priorities. Common strategic planning models are explained, such as balanced scorecard, strategy maps, SWOT analysis, and OKRs. The strategic planning process is outlined as involving diagnosis, policy formulation, plan preparation, and monitoring. Finally, perspectives on strategic planning in education and the public sector are referenced.
The document provides an overview of planning concepts and processes. It discusses development planning, socioeconomic factors in the Philippines like GDP growth and inflation. It also examines strategic planning approaches and rationales. Planning is presented as a process for setting goals and determining actions to achieve purposes. Strategic planning specifically involves analyzing external environments, formulating objectives and strategies, and using systematic methods to develop action plans and assess results. The document highlights the importance of planning for development and priority-setting given limited resources.
Strategic planning is an organizational management activity that helps set priorities, focus resources, strengthen operations, and ensure employees are working toward common goals. It produces fundamental decisions that shape what an organization does and why. Effective strategic planning articulates not only where an organization is going and how it will get there, but also how it will measure success. It requires broad information gathering, clarifying the mission, exploring alternatives, and considering future implications of present decisions. The process aims to help organizations anticipate and respond to change in wise and effective ways.
This document discusses different types of strategies that organizations use. It outlines four main types of strategies:
1. Integration strategies which include vertical and horizontal integration to control suppliers and buyers.
2. Intensive strategies like market penetration, market development, and product development to improve competitive position in existing markets and products.
3. Diversification strategies such as related and unrelated diversification to expand into new product lines and markets to reduce risk.
4. Defensive strategies including retrenchment, divestiture, and liquidation aimed at reducing losses through cost cutting, selling divisions, or fully liquidating assets.
The document provides examples for each type of strategy.
"Interfaces Between Strategic Management of an Enterprise and Managing Project Portfolios Within the Enterprise" April 1, 2010, Istanbul Keynote paper
This document provides an overview of strategic management and strategic planning processes. It defines key concepts like strategy, strategic management, and strategic planning. It discusses the difference between strategic management and strategic planning. It also outlines the strategic planning process, importance of strategic planning, benefits and limitations of strategic management. Finally, it discusses categories of strategy including corporate-level strategy, business-level strategy, and functional strategy.
In today's volatile environment, with an increasingly rapid pace of change, organizations that successfully manage strategic initiatives manage to save more money and be ready to take advantage of their competitors.
The document discusses project portfolio management (PPM). It defines PPM as how an organization influences the direction of its project portfolio to achieve specific outcomes. Effective PPM provides benefits like better competitive positioning and lower project costs. The document then outlines 10 practical recommendations for effective PPM, including having single project managers contribute to the portfolio, using formal processes, applying strategic management theories, establishing project portfolio management offices, managing risks and uncertainties, employing negotiation and structural changes, balancing manager roles, exerting portfolio control, and using portfolio mapping and strategic methods.
This document discusses strategic planning in education. It begins by outlining various theories of planning like rationalism, empiricism, and organizational development. It then defines key concepts like strategic planning and development planning. Several rationales for strategic planning in organizations are provided, including reorienting to community needs and establishing priorities. Common strategic planning models are explained, such as balanced scorecard, strategy maps, SWOT analysis, and OKRs. The strategic planning process is outlined as involving diagnosis, policy formulation, plan preparation, and monitoring. Finally, perspectives on strategic planning in education and the public sector are referenced.
The document provides an overview of planning concepts and processes. It discusses development planning, socioeconomic factors in the Philippines like GDP growth and inflation. It also examines strategic planning approaches and rationales. Planning is presented as a process for setting goals and determining actions to achieve purposes. Strategic planning specifically involves analyzing external environments, formulating objectives and strategies, and using systematic methods to develop action plans and assess results. The document highlights the importance of planning for development and priority-setting given limited resources.
Strategic planning is an organizational management activity that helps set priorities, focus resources, strengthen operations, and ensure employees are working toward common goals. It produces fundamental decisions that shape what an organization does and why. Effective strategic planning articulates not only where an organization is going and how it will get there, but also how it will measure success. It requires broad information gathering, clarifying the mission, exploring alternatives, and considering future implications of present decisions. The process aims to help organizations anticipate and respond to change in wise and effective ways.
The document discusses various aspects of resource management including the management process, planning, implementation, and evaluation. It describes management as setting goals, planning, organizing, leading, and controlling activities to achieve objectives efficiently. Planning involves selecting objectives and actions to achieve them and is a decision-making process. Implementation is the execution of plans by carrying out activities and careful observation. Evaluation assesses whether objectives were met and determines if adjustments are needed to plans, implementation, or objectives.
The document discusses several strategic planning models that can be used by organizations, including the Strategy Map, Balanced Scorecard, SWOT Analysis, PEST Analysis, Gap Planning, Blue Ocean Strategy, Porter's Five Forces, and VRIO Framework. It provides overview and examples of each model. The models can be used to analyze internal/external factors, identify goals and measures, compare current/desired states, explore new market opportunities, and evaluate competitive advantages. While each has strengths, the best model depends on an organization's specific context and needs.
This is a presentation to co-operatives on strategic planning. The process of coming up with a strategic plan is as important as the final document. It is critical that co-operatives participate fully in drafting their own strategic plans and coming up with final document that they own and can implement.
Strategic plans are critical for co-operatives to prioritize what they want to achieve and within what time period.
Note on Implementation Strategy -A Harvard Business Review Kenneth R. An...Priyank Jain
This document provides a framework for strategy implementation. It discusses establishing strategic intent, formulating strategies, and implementing and evaluating strategies. Key points of implementation include defining tasks, identifying required skills, and creating "fits" between the strategy and organizational structure, processes, systems, and policies. Different implementation approaches are needed depending on the stage of the organization and situation. Misfits can arise from environmental or strategic changes and may be permitted temporarily. The document outlines skills needed for successful implementation including analytical, administrative, leadership, and communication abilities.
Here are the answers to the quiz questions:
1. The four basic elements in Strategic Management are:
- Environmental scanning
- Strategy formulation
- Strategy implementation
- Evaluation and control
2. Porter's 5 forces that affect an industry in creating organization strategy are:
- Threat of new entrants
- Rivalry among existing competitors
- Bargaining power of suppliers
- Bargaining power of buyers
- Threat of substitute products
3. The 3 types of strategies are:
- Corporate strategy
- Business strategy
- Functional strategy
Strategic alignment of horizontal and vertical pmo goals finalTathagat Varma
This document discusses strategies for aligning the goals of horizontal strategic programs and vertical programs in an organization. Vertical programs are focused on product delivery and execute tangible elements of strategy. Horizontal programs address softer, intangible elements like culture change and organizational excellence that span the entire organization. The author proposes that goals be negotiated for both types of programs and tracked together to ensure strategic alignment. A case study of strategic horizontal programs at Yahoo! R&D India is also mentioned.
The document discusses the importance of strategic alignment between projects and corporate objectives. It argues that HLR Inc.'s Standard Customer Relationship Management Processes project will only succeed if leadership understands the importance of the project and works together towards goals. It also provides an example where a military unit's projects were not aligned with strategic needs, overworking employees and hurting performance. For projects to align with goals, an organization must commit to strategic project management, formally prepare project charters linking to objectives, develop synergy between projects and business units, and monitor projects to ensure alignment is maintained.
The document discusses strategies and strategic planning. It defines strategy and explains that strategy provides direction for an organization to achieve its goals. It discusses developing alternative strategies to achieve objectives and evaluating strategies based on factors like costs, available resources, acceptance by target populations, and ability to achieve objectives. Developing good strategies is an important part of the strategic planning process.
Forward-looking organisations make a considerable investment - in adopting formal procedures and standards and in training managers and specialist staff - to ensure that they have the skills and techniques for managing change. Moreover they create a culture that encourages change, values experience and rewards innovation.
One of the most effective ways of achieving change and exploiting opportunities is the delivery of carefully planned projects. The management of projects is also a key building block in the development of many people’s careers. A good project manager will usually be a good general manager. The reverse does not always apply.
This document highlights the interdependence between managing a major programme of change and the disciplines of project management and change management. It is derived from our generic approach to achieving substantial step-changes in large organisations and needs further development and refinement to fit the particular circumstances of each situation.
Chapter i introduction to strategic managementSuzana Vaidya
The document provides an overview of strategic management concepts including:
1. The three big strategic questions of where the organization is now, where it wants to go, and how to get there.
2. The definition of strategy as management's plan to attract customers, position in the market, conduct operations, and achieve objectives.
3. The need for strategies to shape how the business is conducted and coordinate managerial actions.
4. The strategic management process of environmental scanning, strategy formulation, implementation, and evaluation.
Lunch and Learn - Strategy Beyond the Hockey StickThe PNR
The document discusses strategies that companies can take to move up the "power curve" and increase their economic profits. It identifies five strategic moves that are most likely to lead to rising in the power curve rankings: 1) regular small acquisitions, 2) frequently reallocating capital between business units, 3) above-average capital expenditures, 4) strong productivity programs, and 5) innovations that improve differentiation. Combining multiple strategic moves significantly increases the odds of moving from the middle to top rankings.
This document discusses the different levels of planning in organizations. It begins by introducing planning and its importance for defining goals and strategies. It then describes three main levels of planning:
1) Strategic planning involves long-term plans made by senior managers to achieve organizational goals over several years. It helps analyze strengths/weaknesses and minimize waste. However, it is time-consuming and the business environment can change.
2) Tactical planning develops specific actions to execute strategic plans over shorter timeframes. It helps formulate strategies but is also time-consuming and may not adapt well to changes.
3) Operational planning involves short-term plans to perform day-to-day tasks and is discussed but not
The document discusses strategic management concepts including definitions of strategy, strategic management, and the strategic planning process. It provides multiple definitions of strategic management from various sources that collectively define it as the continuous process of strategic analysis, formulation, implementation and monitoring used by organizations to achieve and maintain a competitive advantage. The document also discusses strategic integration strategies like horizontal and vertical integration, their purposes, types, advantages and disadvantages.
This document discusses strategic planning and strategy formulation. It begins by outlining the learning objectives, which are to evaluate corporate strategies, include external factors, understand internal resources, and shape the organization for changes. It then discusses different views of strategy - the planning view, emergent view, and that strategies can be planned or emerge over time through incremental changes. Overall, strategic planning is about synthesizing information to make long-term decisions that balance external opportunities with internal capabilities to achieve organizational goals.
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.
This document summarizes key concepts related to organizational direction and planning. It discusses mission statements, goals, policies, strategic planning processes, and objectives. It provides examples of mission statements and explains the differences between goals and policies. Strategic planning is depicted using Wheelen and Hunger's planning process model. The document also covers influences on strategy such as stakeholders, the external environment, SWOT analysis, and the 7S framework. Finally, it contrasts unitary and pluralistic perspectives on organizations.
This document provides an overview of the Strategic Management and Corporate Maritime Strategies course taught by Mohammed Mojahid Hossain Chowdhury at Bangabandhu Sheikh Mujibur Rahman Maritime University in Bangladesh. The course materials include lectures, case studies, seminars, guest lectures, and videos. Student performance will be evaluated based on exams, assignments, presentations, reports, and quizzes. The document also shares examples of strategic management concepts like intended strategy, emergent strategy, realized strategy, and different levels of strategy.
Project and Change Management Success Factors from Malaysian Government Depar...IOSR Journals
a Project is considered as a core element in any organization and its continuity can be guaranteed through a successful change management. Confronting merciless challenges at the current time particularly at the market field, the emergency need has been raised to overcome those obstacles and step ahead on rivals. One way that most organizations have moved towards its capabilities and put the pressure on it to produce quality and optimal outcomes is ICT. Thus, various types of IT projects with variant intended objectives have been conducted. As being witnessed recently and noticed previously, that a lot of IT projects turned to fail due to several reasons. Additionally, way of life changes from time to time and people requirements have changed and become so complicated recently with the exposure to advanced technology that has been attached with our daily life activities. A survey has been conducted among some Malaysian Government departments and agencies to elicit the main factors which participate in the success of projects and what the importance level of implementing an effective change management over projects that lead to sustainability and productivity of the organizations. This survey results have been received as a quantitative feedback that makes it clear to make a conclusion.
This document discusses why project managers need to understand their organization's strategy and strategic management processes. It provides three key reasons:
1. Project managers need to understand strategy to make appropriate project decisions and adjustments based on whether the organization prioritizes innovation, cost efficiency, speed to market, etc.
2. Project managers must be able to advocate for their projects and explain how each project contributes to the organization's mission and strategy to gain support from senior management.
3. Strategic management involves reviewing the organization's mission, analyzing external and internal factors, formulating strategies, setting objectives, and implementing strategies through projects. It provides focus and consistency across all levels of the organization.
The document discusses various aspects of resource management including the management process, planning, implementation, and evaluation. It describes management as setting goals, planning, organizing, leading, and controlling activities to achieve objectives efficiently. Planning involves selecting objectives and actions to achieve them and is a decision-making process. Implementation is the execution of plans by carrying out activities and careful observation. Evaluation assesses whether objectives were met and determines if adjustments are needed to plans, implementation, or objectives.
The document discusses several strategic planning models that can be used by organizations, including the Strategy Map, Balanced Scorecard, SWOT Analysis, PEST Analysis, Gap Planning, Blue Ocean Strategy, Porter's Five Forces, and VRIO Framework. It provides overview and examples of each model. The models can be used to analyze internal/external factors, identify goals and measures, compare current/desired states, explore new market opportunities, and evaluate competitive advantages. While each has strengths, the best model depends on an organization's specific context and needs.
This is a presentation to co-operatives on strategic planning. The process of coming up with a strategic plan is as important as the final document. It is critical that co-operatives participate fully in drafting their own strategic plans and coming up with final document that they own and can implement.
Strategic plans are critical for co-operatives to prioritize what they want to achieve and within what time period.
Note on Implementation Strategy -A Harvard Business Review Kenneth R. An...Priyank Jain
This document provides a framework for strategy implementation. It discusses establishing strategic intent, formulating strategies, and implementing and evaluating strategies. Key points of implementation include defining tasks, identifying required skills, and creating "fits" between the strategy and organizational structure, processes, systems, and policies. Different implementation approaches are needed depending on the stage of the organization and situation. Misfits can arise from environmental or strategic changes and may be permitted temporarily. The document outlines skills needed for successful implementation including analytical, administrative, leadership, and communication abilities.
Here are the answers to the quiz questions:
1. The four basic elements in Strategic Management are:
- Environmental scanning
- Strategy formulation
- Strategy implementation
- Evaluation and control
2. Porter's 5 forces that affect an industry in creating organization strategy are:
- Threat of new entrants
- Rivalry among existing competitors
- Bargaining power of suppliers
- Bargaining power of buyers
- Threat of substitute products
3. The 3 types of strategies are:
- Corporate strategy
- Business strategy
- Functional strategy
Strategic alignment of horizontal and vertical pmo goals finalTathagat Varma
This document discusses strategies for aligning the goals of horizontal strategic programs and vertical programs in an organization. Vertical programs are focused on product delivery and execute tangible elements of strategy. Horizontal programs address softer, intangible elements like culture change and organizational excellence that span the entire organization. The author proposes that goals be negotiated for both types of programs and tracked together to ensure strategic alignment. A case study of strategic horizontal programs at Yahoo! R&D India is also mentioned.
The document discusses the importance of strategic alignment between projects and corporate objectives. It argues that HLR Inc.'s Standard Customer Relationship Management Processes project will only succeed if leadership understands the importance of the project and works together towards goals. It also provides an example where a military unit's projects were not aligned with strategic needs, overworking employees and hurting performance. For projects to align with goals, an organization must commit to strategic project management, formally prepare project charters linking to objectives, develop synergy between projects and business units, and monitor projects to ensure alignment is maintained.
The document discusses strategies and strategic planning. It defines strategy and explains that strategy provides direction for an organization to achieve its goals. It discusses developing alternative strategies to achieve objectives and evaluating strategies based on factors like costs, available resources, acceptance by target populations, and ability to achieve objectives. Developing good strategies is an important part of the strategic planning process.
Forward-looking organisations make a considerable investment - in adopting formal procedures and standards and in training managers and specialist staff - to ensure that they have the skills and techniques for managing change. Moreover they create a culture that encourages change, values experience and rewards innovation.
One of the most effective ways of achieving change and exploiting opportunities is the delivery of carefully planned projects. The management of projects is also a key building block in the development of many people’s careers. A good project manager will usually be a good general manager. The reverse does not always apply.
This document highlights the interdependence between managing a major programme of change and the disciplines of project management and change management. It is derived from our generic approach to achieving substantial step-changes in large organisations and needs further development and refinement to fit the particular circumstances of each situation.
Chapter i introduction to strategic managementSuzana Vaidya
The document provides an overview of strategic management concepts including:
1. The three big strategic questions of where the organization is now, where it wants to go, and how to get there.
2. The definition of strategy as management's plan to attract customers, position in the market, conduct operations, and achieve objectives.
3. The need for strategies to shape how the business is conducted and coordinate managerial actions.
4. The strategic management process of environmental scanning, strategy formulation, implementation, and evaluation.
Lunch and Learn - Strategy Beyond the Hockey StickThe PNR
The document discusses strategies that companies can take to move up the "power curve" and increase their economic profits. It identifies five strategic moves that are most likely to lead to rising in the power curve rankings: 1) regular small acquisitions, 2) frequently reallocating capital between business units, 3) above-average capital expenditures, 4) strong productivity programs, and 5) innovations that improve differentiation. Combining multiple strategic moves significantly increases the odds of moving from the middle to top rankings.
This document discusses the different levels of planning in organizations. It begins by introducing planning and its importance for defining goals and strategies. It then describes three main levels of planning:
1) Strategic planning involves long-term plans made by senior managers to achieve organizational goals over several years. It helps analyze strengths/weaknesses and minimize waste. However, it is time-consuming and the business environment can change.
2) Tactical planning develops specific actions to execute strategic plans over shorter timeframes. It helps formulate strategies but is also time-consuming and may not adapt well to changes.
3) Operational planning involves short-term plans to perform day-to-day tasks and is discussed but not
The document discusses strategic management concepts including definitions of strategy, strategic management, and the strategic planning process. It provides multiple definitions of strategic management from various sources that collectively define it as the continuous process of strategic analysis, formulation, implementation and monitoring used by organizations to achieve and maintain a competitive advantage. The document also discusses strategic integration strategies like horizontal and vertical integration, their purposes, types, advantages and disadvantages.
This document discusses strategic planning and strategy formulation. It begins by outlining the learning objectives, which are to evaluate corporate strategies, include external factors, understand internal resources, and shape the organization for changes. It then discusses different views of strategy - the planning view, emergent view, and that strategies can be planned or emerge over time through incremental changes. Overall, strategic planning is about synthesizing information to make long-term decisions that balance external opportunities with internal capabilities to achieve organizational goals.
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.
This document summarizes key concepts related to organizational direction and planning. It discusses mission statements, goals, policies, strategic planning processes, and objectives. It provides examples of mission statements and explains the differences between goals and policies. Strategic planning is depicted using Wheelen and Hunger's planning process model. The document also covers influences on strategy such as stakeholders, the external environment, SWOT analysis, and the 7S framework. Finally, it contrasts unitary and pluralistic perspectives on organizations.
This document provides an overview of the Strategic Management and Corporate Maritime Strategies course taught by Mohammed Mojahid Hossain Chowdhury at Bangabandhu Sheikh Mujibur Rahman Maritime University in Bangladesh. The course materials include lectures, case studies, seminars, guest lectures, and videos. Student performance will be evaluated based on exams, assignments, presentations, reports, and quizzes. The document also shares examples of strategic management concepts like intended strategy, emergent strategy, realized strategy, and different levels of strategy.
Project and Change Management Success Factors from Malaysian Government Depar...IOSR Journals
a Project is considered as a core element in any organization and its continuity can be guaranteed through a successful change management. Confronting merciless challenges at the current time particularly at the market field, the emergency need has been raised to overcome those obstacles and step ahead on rivals. One way that most organizations have moved towards its capabilities and put the pressure on it to produce quality and optimal outcomes is ICT. Thus, various types of IT projects with variant intended objectives have been conducted. As being witnessed recently and noticed previously, that a lot of IT projects turned to fail due to several reasons. Additionally, way of life changes from time to time and people requirements have changed and become so complicated recently with the exposure to advanced technology that has been attached with our daily life activities. A survey has been conducted among some Malaysian Government departments and agencies to elicit the main factors which participate in the success of projects and what the importance level of implementing an effective change management over projects that lead to sustainability and productivity of the organizations. This survey results have been received as a quantitative feedback that makes it clear to make a conclusion.
This document discusses why project managers need to understand their organization's strategy and strategic management processes. It provides three key reasons:
1. Project managers need to understand strategy to make appropriate project decisions and adjustments based on whether the organization prioritizes innovation, cost efficiency, speed to market, etc.
2. Project managers must be able to advocate for their projects and explain how each project contributes to the organization's mission and strategy to gain support from senior management.
3. Strategic management involves reviewing the organization's mission, analyzing external and internal factors, formulating strategies, setting objectives, and implementing strategies through projects. It provides focus and consistency across all levels of the organization.
This document discusses the importance of project management knowledge and education, especially when implementing development projects created by the government. It notes that while India has seen significant growth in infrastructure projects in recent decades, many projects still face delays and cost overruns due to a lack of proper project management practices. The study aims to understand how project management education can help improve implementation of government development projects in terms of communication, execution, and completing projects on time and on budget. It discusses the benefits of project management training, facilitation, and mentoring for government employees working on projects. While some project management topics are taught in Indian universities, the curriculum does not provide comprehensive coverage of modern project management frameworks. This could hinder collaboration with international organizations that use
Projects are activities taken up by organizations large and small, public and private, government
and non-government to execute their near and future term goals. Project is defined as a set of tasks taken up to
achieve a predefined end result within a predefined time, scope and budget. Our country has witnessed
tremendous growth in infrastructure
This document provides a summary of useful sources of information on change management compiled by Melanie Franklin. It outlines four key areas: (1) the importance of effective project management in change initiatives, (2) identifying return on investment from change management activities, (3) the need for organizations to build internal capability for change, and (4) how strategic execution relies on effective change management. The sources highlighted provide guidance on developing change strategies and measuring their success.
ACT College Arlington Project Management and Company Performance Paper.docxwrite30
Project management is a key tool that companies use to improve overall performance. When projects are successfully managed, they deliver business results that contribute to organizational success. There are typically four phases to a project - initiation, planning, implementation, and closure. Following a disciplined approach to project management helps companies control spending, reduce project failures, and improve their ability to operate in competitive environments. While project management provides benefits, it also requires resources to implement formal processes and oversight roles.
ACT College Arlington Project Management and Company Performance Paper.docxwrite22
Project management is a key tool that companies use to improve overall performance. When projects are successfully managed, they deliver business results that contribute to organizational success. There are typically four phases to a project - initiation, planning, implementation, and closure. Following a disciplined approach to project management helps companies control spending, reduce project failures, and improve their ability to operate in competitive environments. While project management provides benefits, it also requires resources to implement formal processes and oversight roles.
Creating Competitive Advantage with Strategic Execution Capability V1.0Jon Hughes
The document discusses the Strategic Execution Framework (SEF), which is a model that helps organizations align strategy creation with execution by assessing six key capabilities: Ideation, Nature, Vision, Engagement, Synthesis, and Transition (INVEST). Conducting a diagnostic using the SEF can identify strengths and weaknesses in these capabilities and their linkages. Addressing weaknesses through initiatives to develop capabilities can help organizations more effectively execute strategies and gain competitive advantage. Common weaknesses identified include a lack of understanding interrelationships between capabilities, poor synthesis of strategies into coordinated programs and projects, and an inability to transition projects to operations.
The document discusses planning and project management in the context of corporate and organizational development. It defines the relationships between corporate planning, programming, and project management. Corporate planning involves strategic, tactical, and annual planning to achieve organizational goals. Programming breaks long-range plans into intermediate programs, and project management identifies specific projects to implement programs. Projects have defined life cycles from initiation to evaluation. Project management ensures projects meet goals on time and within budget.
The document is a 23-page thesis on strategy formulation in multinational corporations deciding on expansions. It includes an abstract, keywords, introduction, literature review on strategic management and multinational corporations, and outlines the research methodology and conclusion. The literature review discusses definitions of strategic management and the strategic management process, including analysis, formulation, implementation, and evaluation. It also examines models of strategy formulation and discusses factors that influence multinational corporations' decisions to expand internationally such as access to new markets, resources, and avoiding trade barriers.
An Exploration of the Imperatives for Successful Strategy Execution in ODL In...IOSRJBM
The study analysed the factors that influence the effectiveness of strategy execution in Open and Distance Learning institutions. The qualitative research methodology was employed with the research design taking a case study approach. Primary data were gathered through interviews and direct and participant observation methods. The study also utilized secondary data from journal publications mainly focusing on the area of strategy execution. The research population was composed of management in ODL universities in the SADC region. Respondents to the interviews were selected from ODL Universities in three SADC countries using the simple random sampling technique. The highest levels of confidentiality and ethical standards were adhered to so as to protect the integrity of the respondents and that of the Universities. The study revealed that strategy execution could be enhanced through the following; identification of institutional competences, translate strategy into explicit implementation guidelines, adapt to rapidly changing conditions, knowledgeable and engaged leadership, prudential use of resources and worker buy-in
Project portfolio management implementation requires executive support, governance structures, and a project management culture. Key challenges include lack of executive sponsorship, absence of governance processes for strategy translation and project selection, and lack of project management discipline. Successful strategies include ensuring executive support, establishing governance structures and processes for strategic alignment, instilling a project management culture, measuring and tracking benefits, and starting small by focusing on critical initiatives in one business unit.
Determinants of successful strategic plan implementation lessons from the chu...Alexander Decker
This document discusses a study on the determinants of successful strategic plan implementation at the Church Commissioners for Kenya. The study aims to identify factors that promote the successful implementation of strategic plans.
The literature review covers topics like strategic planning, organizational performance, the relationship between strategic plans and performance, and factors that can affect strategic plan implementation such as organizational culture, structure, leadership, and resources.
The methodology section describes how the study was conducted using a case study design, questionnaires distributed to management staff, and data analysis using SPSS software. The results section provides some background on respondents and findings on factors rated by respondents as affecting strategic plan implementation.
This study examines the relationship between strategic direction and performance of small and medium manufacturing firms in Thika Sub-County, Kenya. A survey was conducted of 115 firms to understand the emphasis placed on strategic direction during strategy implementation and its impact on firm performance. The study found a positive but insignificant relationship between strategic direction and firm performance. While strategic direction on its own did not significantly impact performance, it is often embedded in other key factors like leadership, structure, human resources and technology that do influence performance. For manufacturing firms to enhance performance and competitiveness, their strategic direction in terms of vision, mission and objectives must be clearly understood and supported by all stakeholders involved in strategy implementation.
Strategic management involves 3 levels of strategy:
1. Corporate level strategy determines the overall scope and direction of the organization.
2. Business level strategy identifies how each business unit will compete in its market.
3. Functional level strategy guides activities within specific operational areas like marketing and HR.
The strategic management process includes environmental scanning, strategy formulation, implementation, and evaluation. Setting a vision, mission, and objectives provides guidance for strategic planning.
The document discusses key concepts related to strategy and strategic management. It defines strategy as a plan or course of action related to pursuing organizational goals and objectives. Strategic management is described as a process directed by top management to determine long-term goals and ensure decisions align the organization with its environment. The strategic management process involves environmental scanning, strategy formulation, implementation, and evaluation.
This document discusses Wahid's view on using financial and economic analysis to support modern business decision making. It explains that financial analysis can help managers increase corporate and shareholder value through strategies like mergers and acquisitions. The document also discusses how financial analysis should be conducted effectively by regularly monitoring progress, applying standards, and identifying areas for improvement. It emphasizes that financial analysis is important for operational planning, strategy planning, performance reviews, and management decision making.
ISSN 1822-6515 ISSN 1822-6515 EKONOMIKA IR VADYBA 2011. 16 .docxchristiandean12115
This document discusses theoretical approaches to project portfolio management maturity. It begins by providing context on the increasing use of projects by organizations and importance of effectively managing project portfolios. It then reviews several existing models for assessing project portfolio management maturity levels. The document concludes that developing project portfolio management maturity is an important issue and presents a theoretical approach focused on developing human resource competence to purposefully manage maturity levels.
CHAPTER 2 Strategic Management and Project SelectionMore and m.docxcravennichole326
CHAPTER 2
Strategic Management and Project Selection
More and more, the accomplishment of important tasks and goals in organizations today is being achieved through the use of projects. The phrases we hear and read about daily at our work and in conversations with our colleagues, such as “management by projects” and “project management maturity,” reflect this increasing trend in our society. The explosively rapid adoption of such a powerful tool as project management to help organizations achieve their goals and objectives is certainly awesome. In addition to project management’s great utility when correctly used, however, its utility has also led to many misapplications. As frequently noted by both consultants and industry project experts, there are many projects that:
• fall outside the organization’s stated mission,
• are completely unrelated to the strategy and goals of the organization, or
• have excessive funding levels relative to their expected benefits.
In addition to the growth in the number of organizations adopting project management, there is also accelerating growth in the number of multiple, simultaneous, and often interrelated projects in organizations. Thus, the issue naturally arises as to how one manages all these projects. Are they all really projects? (It has been suggested that perhaps up to 80 percent of all “projects” are not actually projects at all, since they do not include the three project requirements for scope, budget, and due date.) Should we be undertaking all of them? Among those we should implement, what should be their priorities?
It is not unusual these days for organizations to be wrestling with hundreds of new projects. With so many ongoing projects it becomes difficult for smaller projects to get adequate support, or even the attention of senior management. Three particularly common problems in organizations trying to manage multiple projects are:
1. Delays in one project cause delays in other projects because of common resource needs or technological dependencies.
2. The inefficient use of corporate resources results in peaks and valleys of resource utilization.
3. Bottlenecks in resource availability or lack of required technological inputs result in project delays that depend on those scarce resources or technology.
As might be expected, the report card on organizational success with management by projects is not stellar. For example, an early research study (Thomas et al., 2001) found that 30 percent of all projects were canceled midstream, and over half of completed projects were up to 190 percent over budget and 220 percent late. This same study found that the primary motivation of organizations to improve and expand their project management processes was due to major troubled or failed projects, new upcoming mega-projects, or to meet competition or maintain their market share. Those firms that “bought” project management skills from consultants tended to see it as a “commodity.” These fi ...
CHAPTER 2 Strategic Management and Project SelectionMore and m.docx
icpak journal
1. Strategic Management Practice on Successful Completion of Constituency Development
Fund – Funded Projects in Rural Areas in Kenya
By Matanda Gabriel.Cpa (k), Cps (k), BMIT, MBA
Introduction
The orientation towards strategic management in organization occurred shortly after the 2nd
world war. The term strategy is associated more with military activities but has been borrowed
by management. With emergence of globalization; many organizations have been faced by stiff
competition for excellence. Traditional ways of doing business nowadays does not apply hence
necessity for the application of strategic management in order to overcome competition and to
achieve success in running the organization affairs. In the world today the concept of strategic
management practice is inevitable due to various dynamics in the market. The process of
strategic management has spread across Africa continent and you could find most organizational
leaders talking about among others, strategy implementation and strategy evaluation in most of
their discussions in determining successful completion of projects.
Strategic management is a significant part of management and application of new strategic
management knowledge is necessary for success or failure to complete projects in various rural
developments. Strategic management involves the formulation and implementation of the major
initiatives taken by a company's top management on behalf of owners, based on consideration of
resources and an assessment of the internal and external environments in which the organization
competes. Strategic management provides overall direction to the enterprise and involves
specifying the organization's objectives, developing policies and plans designed to achieve these
objectives, and then allocating resources to implement the plans. Strategic management practice
is not static in nature; the models often include a feedback loop to monitor execution and inform
the next round of planning. This is a fit, which an organization has within its environment.
Strategy is a master plan that delineates critical causes of action towards the attainment of
organization’s objectives and a blue print that defines the means of deploying resources to
exploit present and future opportunities.
Constituency Development Funds (CDFs) dedicate public money to benefit specific political
subdivisions through allocations and spending decisions influenced by their representatives in
the national assembly. In Kenya most of the rural areas are under developed and abandoned, not
that they lack resources to boost development, but lack of proper strategies in the development
agenda to successfully complete CDF funded projects in the counties . Reports showed no
serious studies have been done on how initiated projects in Counties across Kenya. This is
against the backdrop of numerous abandoned and incomplete projects, despite the required
resources having been availed to them. Critics in Kenya have further argued that funds from
CDF kitty are most often and most easily being spent on short-term projects which benefit a
small number of residents. The view expressed by one Kenyan MP was that the CDF must be
2. tied to national goals. The foregoing necessitated the current study on the influence of strategic
management practice on the successful completion of CDF funded projects in rural areas
6.1.1 Growth and Portfolio Theory
In the 1970s much of strategic management dealt with size, growth, and portfolio theory. The
Profit Impact of Marketing Strategies (PIMS) study was a long term study, started in the 1960s
and lasted for 19 years, that attempted to understand the PIMS, particularly the effect of market
share. Started at General Electric, moved to Harvard in the early 1970s, and then moved to the
Strategic Planning Institute in the late 1970s, it now contains decades of information on the
relationship between profitability and strategy. Their initial conclusion was unambiguous: The
greater a company's market share, the greater will be their rate of profit.
The high market share provides volume and economies of scale. It also provides experience and
learning curve advantages. The combined effect is increased profits. The study’s conclusions
continue to be drawn on by academics and companies today: PIMS provides compelling
quantitative evidence as to which business strategies work and don't work. The benefits of high
market share naturally lead to an interest in growth strategies. The relative advantages of
horizontal integration, vertical integration, diversification, franchises, mergers and acquisitions,
joint ventures, and organic growth were discussed. The most appropriate market dominance
strategies were assessed given the competitive and regulatory environment.
There was also research that indicated that a low market share strategy could also be very
profitable. It has been shown how smaller niche players obtained very high returns. By the early
1980s the paradoxical conclusion was that high market share and low market share companies
were often very profitable but most of the companies in between were not. This was sometimes
called the “hole in the middle” problem. This anomaly would be explained by Michael Porter in
the 1980s.The management of diversified organizations required new techniques and new ways
of thinking in order to operate successfully.
6.1.2 Theory of Project Management
It is asserted that the foundation of project management theory can be broken down into two.
That is, the theory of project and theory of management. The theory of project is said to be
provided by the transformation view on operations. Projects could be perceived just like a special
type of production. In other words, a project is a temporary Endeavour carried out in order to
create a unique product or service. In the transformation view, a project is conceptualized as a
transformation of inputs to outputs. It is further noted that there are a number of principles by
which a project is managed. It is exemplified that according to the aforementioned principles,
decomposing the entire transformation hierarchically into smaller transformations, tasks, and
minimizing the cost of each task independently.
Under the theory of management, management is viewed as planning, executing and controlling.
In management-as-planning, management at the operations level is seen as consisting of the
creation, revision and implementation of plans. This approach to management looks into a strong
3. causal connection between the management actions and outcomes of the organization. It is
further assumed that planned tasks can be executed by a notification to the executor of when the
task should begin. The management control, on the other hand, consists of a number of elements.
There is a standard of performance; performance is measured at the output; the possible variance
between the standard and the measured value is used for correcting the process in order for the
standard to be reached.
In the context of the current study, the CDF-funded projects, in line with project management,
undergo transformation. In this case, the projects’ inputs are in form of funds they get from the
CDF kitty. The funds are supposed to be implemented in order for the projects to be successfully
completed. The outputs as illustrated by the project management theory are exemplified by the
completed CDF projects. The performance in the case of the aforementioned projects is
measured by how successfully the projects are completed.
6.2.1 Strategy Implementation
Successful implementation of new strategies can be defined either as having adopted a decision,
a definition which does not consider the effectiveness of the decision and what was achieved
with the decision, or as choosing and implementing an action plan that solves the problem it was
intended to solve i.e. the appropriateness of the implemented .
It is further argued that implementation success of new action programs in farm businesses to the
nature of the program and to personal characteristics and situation of the farmer. Hypotheses
about how the nature of the action program and personal characteristics and situation of the
farmer influence implementation success, defined as the extent to which the program solved the
problem it was intended to solve, were developed and tested in a generalized logits model.
Facilitators and inhibitors of successful implementation of strategic decisions are studied in
empirical applications. For instance, Nutt (1999) found that the implementation tactic must be
adapted to situational conditions, such as corporate culture and power. It was concluded that a
combination of an experience-based, i.e. planned approach and a readiness-based approach
provides the best implementation success. Successful implementation was found to depend on
clear aims, planning and cultural receptivity, whereas experience, prioritizing implementation,
and having abundant resources were found to matter less.
In a study on implementation of strategic management practices in the Malaysian construction
industry, it is concluded that the application of strategic management practice in organizations
can help the organizations in enhancing their performance through improved effectiveness,
efficiency and flexibility. The study further proved that the effect of strategic management is
positive. Against this backdrop, however, for there to be improved performance, the
implementation of strategic management should essentially be conducted properly.
In Kenya, it is argued that there are various project implementation challenges. Some of the
challenges related to implementation of CDF project strategies include weak institutional
framework supporting the CDF, lack of transparency, and failure to sufficiently address the
political imperfections that distorted political incentives to serve all the poor equally. One of the
objectives of CDF according to a report by the Open Society Initiative for Eastern Africa -
OSIEA is to ensure citizen participation through decision making in project identification,
implementation, monitoring and evaluation. Yet, when studying CDF projects in Ainamoi
4. Constituency, Kenya, it was averred that several rural development programmes have failed to
realize their desired objectives because of poor organization and implementation strategies.
It is further alleged that important elements of project implementation such as organizational
design have not fully been managed by the committees in the constituencies. In the OSIEA’s
report, it is alleged that in a survey of 21 districts by National Anti-Corruption Campaign
Steering Committee (NACCSC), some constituencies’ development committees (CDCs)
comprised of MPs’ spouses, close relatives and political cronies. It was further observed that
numerous forms of corruption inhibited efficiency and effectiveness of CDF. This compounded
by the allegation that several MPs have been legislators, implementers and auditors of the CDF
projects have compromised the implementation of CDF strategies.
During one of my closed interview the respondents were found to disagree that project
completion is the last stage of CDFC project selection. The respondents concurred with the
assertions that proper CDF management is reflected by the number of projects completed
successfully; most CDF projects remain work-on-progress for lengthy periods of time; strategy
implementation affects successful completion of projects; and that strategic choice and analysis
of CDF projects affect the projects' successful completion. It is worth noting that regarding
successful completion of CDF projects, CDFC members held significantly varying opinions
6.2.2 Successful Completion of Projects
In strategic management, a project can be said to be successfully completed if all the elements of
planning, choice, analysis and implementation are present. We can say that a project is complete
if it has the following factors: user involvement, executive management support, clear statement
of requirements, proper planning and realistic expectations. In the Business Monitor
International report of year 2010, it is concluded that these were the elements that were most
often pointed to as major contributors to project success. However, these elements alone could
never guarantee success. But if these are done well, a project, according to the Standish Group,
will have a much higher probability of success. The next category of differentiators from the
Standish report deals with projects that proved to be “challenged” that is they were completed
but were over budget, over time, or did not contain all functions and features originally required.
It is asserted that though studies on project management have been granted significant, less
attention is paid to the same in context of strategic management. Project completion is said to be
the last stage of the CDF Committee project selection. By year 2011, more than 60,000 CDF
projects in various stages of completion had been established throughout Kenya with a
significant proportion of them having been completed and in use. A report by OSIEA which was
as a result of s study of Vihiga, Sabatia, Emuhaya, and Hamisi constituencies in Kenya put
across a number of crucial recommendations. One of the key recommendations was to wind up
the CDF through a final disbursement in the following financial year and to complete all pending
but viable projects and also repeal the CDF law.
In yet another study on CDF projects in Mwea Constituency, Kenya, about 60% of members of
parliament who had billions of CDF money unspent in their respective CDF accounts had
incomplete projects. According to the findings of a study on factors influencing management of
CDF projects in Ainamoi Constituency, Kenya, proper management of CDF is determined by the
number of projects completed and the impact the projects have on people’s lives. The study
5. further sought to establish whether CDF-funded projects are completed or they remain work-on-
progress for a lengthy period of time. They found that majority of the respondents opinioned that
the projects were neither funded fully nor in tandem with the bill of quantity.
8.2 Conclusions
It is inferred that application of strategic management practices in CDFCs is an essential factor in
ensuring successful completion of CDF projects. The implementation of CDF projects has been
plagued by lack of transparency and failure to sufficiently address political imperfections. Poor
implementation of strategies is concluded to result in many CDF projects failing to achieve their
desired objectives. It is further concluded that, implementation of strategies pertinent to CDF
projects is constrained by corruption and unnecessary interference by local member of National
Assembly. In conclusion, it is worth noting that implementation of pertinent strategies are very
crucial to successful completion of CDF projects.
8.3 Recommendations
It is recommended that, the CDFCs ought to employ strategic management practices in light of
CDF projects. Furthermore, it is recommended that all the operations regarding implementation
of CDF projects should be transparent and that the political class should not interfere with such
projects unless where it is deemed to be very necessary.