When you negotiate your annual Hotel Sourcing Program, have you wondered if your Meetings spend can be incorporated in the process? Read this whitepaper.
[Whitepaper] The Definitive Guide to Strategic Planning: Here’s What You Need...Flevy.com Best Practices
More Information:
https://flevy.com/browse/flevypro/best-practices-in-strategic-planning-2738
For many organizations, this is the time of the year is when Leadership will conduct the annual Strategic Planning process and plan the near-, mid- and long-term strategies.
This article breaks the full Strategic Planning and Execution processes into 3 sections:
Strategic Planning
Strategy Development
Strategy Execution
For each section, we will highlight important concepts core to the topic, as well as direct you to important resources for further understanding.
1. Strategic Planning
Per Wikipedia, we can define Strategic Planning as:
Strategic Planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy. Strategic Planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the environment in which it competes.
Strategic Planning is a crucial process, but often poorly executed, leading to poor translation from Strategy to Execution.
In most organizations, executives complain that their Strategic Planning is overly bureaucratic, insufficiently insightful, and doesn’t accommodate today’s rapidly changing, digital markets. To combat these issues, there are a few best practices we should follow:
Explore Strategy across 3 time horizons.
Encourage productive and stimulating Strategic Dialogue.
Engage a broad, decentralized group of stakeholders.
Let’s dive a little deeper into each of these best practices.
Explore
The 3 time horizons we want to explore can be defined as short term (1-year timeframe), medium term (3–5 years timeframe), and long term (5+ years). Each horizon is uniquely considered and has different objectives.
This document discusses strategic cost management for mortgage lenders and consumer finance companies. It outlines four critical elements to deliver sustainable cost reduction: 1) Develop a strong foundation by defining a compelling cost reduction story and framework; 2) Create breathing space through aggressive short-term cuts; 3) Look at the system as a whole to identify opportunities across the organization; and 4) Embed a cost-conscious culture through leadership and accountability. Effective cost management requires buy-in from executive leadership and a well-structured program to identify, approve, and deliver cost savings initiatives.
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.
Making Strategy Work for Entrepreneurssohailgondal
Challenge: Traditional strategic planning approach fails to handle the ambiguity, uncertainty and complexity prevailing in entrepreneurial environments. Consequently, these barriers become the reason for entrepreneurs to jettison robust strategic thinking or management
Way Forward: An effective strategic planning capability can do more than address the common and predictable issues that cause a new ventures demise. This paper defines an agile approach to strategy that balances the rigor and speed entrepreneurs need.
CXPA Networking event Jhb May 2016 - Overview of Customer Experience in South...Adre Schreuder
During May 2016 the South African chapter of CXPA hosted a networking event where Prof Adré Schreuder (CEO of Consulta & Founder of SAcsi) was asked to present an industry overview of customer experience in South Africa. The presentation covers a divergent, well grounded view to customer experience concepts, principles, models & aims to dispel some of the most prevailing myths.
The purpose of strategic plan is to give a business a roadmap to its future. It answers three questions:
1. What is the mission of the business?
2. What goals should be met to accomplish
this mission?
3. What strategies should be employed to achieve these goals?
This document provides an outline for a course on strategic management. It defines key terms used in strategic management like strategists, mission statements, external opportunities/threats, internal strengths/weaknesses, objectives, strategies, and policies. It describes the stages of the strategic management process as strategy formulation, implementation, and evaluation. Environmental scanning is discussed as the process of gathering external information on opportunities and threats. The internal and external environments are also defined.
This document discusses cascading strategic plans across multiple levels of an organization. It describes three levels of strategic plans: enterprise, divisional, and functional. The enterprise strategic plan sets overarching goals and strategies for the whole organization. Divisional strategic plans align with and specify how goals are achieved in each division. Functional strategic plans further define how individual departments contribute and ensure alignment across levels. The role of facilitation is important in mapping priorities and gaining understanding across levels.
[Whitepaper] The Definitive Guide to Strategic Planning: Here’s What You Need...Flevy.com Best Practices
More Information:
https://flevy.com/browse/flevypro/best-practices-in-strategic-planning-2738
For many organizations, this is the time of the year is when Leadership will conduct the annual Strategic Planning process and plan the near-, mid- and long-term strategies.
This article breaks the full Strategic Planning and Execution processes into 3 sections:
Strategic Planning
Strategy Development
Strategy Execution
For each section, we will highlight important concepts core to the topic, as well as direct you to important resources for further understanding.
1. Strategic Planning
Per Wikipedia, we can define Strategic Planning as:
Strategic Planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy. Strategic Planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the environment in which it competes.
Strategic Planning is a crucial process, but often poorly executed, leading to poor translation from Strategy to Execution.
In most organizations, executives complain that their Strategic Planning is overly bureaucratic, insufficiently insightful, and doesn’t accommodate today’s rapidly changing, digital markets. To combat these issues, there are a few best practices we should follow:
Explore Strategy across 3 time horizons.
Encourage productive and stimulating Strategic Dialogue.
Engage a broad, decentralized group of stakeholders.
Let’s dive a little deeper into each of these best practices.
Explore
The 3 time horizons we want to explore can be defined as short term (1-year timeframe), medium term (3–5 years timeframe), and long term (5+ years). Each horizon is uniquely considered and has different objectives.
This document discusses strategic cost management for mortgage lenders and consumer finance companies. It outlines four critical elements to deliver sustainable cost reduction: 1) Develop a strong foundation by defining a compelling cost reduction story and framework; 2) Create breathing space through aggressive short-term cuts; 3) Look at the system as a whole to identify opportunities across the organization; and 4) Embed a cost-conscious culture through leadership and accountability. Effective cost management requires buy-in from executive leadership and a well-structured program to identify, approve, and deliver cost savings initiatives.
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.
Making Strategy Work for Entrepreneurssohailgondal
Challenge: Traditional strategic planning approach fails to handle the ambiguity, uncertainty and complexity prevailing in entrepreneurial environments. Consequently, these barriers become the reason for entrepreneurs to jettison robust strategic thinking or management
Way Forward: An effective strategic planning capability can do more than address the common and predictable issues that cause a new ventures demise. This paper defines an agile approach to strategy that balances the rigor and speed entrepreneurs need.
CXPA Networking event Jhb May 2016 - Overview of Customer Experience in South...Adre Schreuder
During May 2016 the South African chapter of CXPA hosted a networking event where Prof Adré Schreuder (CEO of Consulta & Founder of SAcsi) was asked to present an industry overview of customer experience in South Africa. The presentation covers a divergent, well grounded view to customer experience concepts, principles, models & aims to dispel some of the most prevailing myths.
The purpose of strategic plan is to give a business a roadmap to its future. It answers three questions:
1. What is the mission of the business?
2. What goals should be met to accomplish
this mission?
3. What strategies should be employed to achieve these goals?
This document provides an outline for a course on strategic management. It defines key terms used in strategic management like strategists, mission statements, external opportunities/threats, internal strengths/weaknesses, objectives, strategies, and policies. It describes the stages of the strategic management process as strategy formulation, implementation, and evaluation. Environmental scanning is discussed as the process of gathering external information on opportunities and threats. The internal and external environments are also defined.
This document discusses cascading strategic plans across multiple levels of an organization. It describes three levels of strategic plans: enterprise, divisional, and functional. The enterprise strategic plan sets overarching goals and strategies for the whole organization. Divisional strategic plans align with and specify how goals are achieved in each division. Functional strategic plans further define how individual departments contribute and ensure alignment across levels. The role of facilitation is important in mapping priorities and gaining understanding across levels.
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.
This report is about combination of various strategic management theories which has explains by different authors with different viewpoints according to the situations which they are looking at.
Strategic management can be basically describe as a process which analysis the current situation and make strategies which will matches to that. Basically strategic management has three main processes which can name as strategic formulation, implementation and evaluation.
First this report explains about what is strategic management and how it has implemented and how if effects for an organization. Compare to that briefing then the report focus on the theories which has found out to be explain in the journals which has selected to review the strategic management theories.
And then the report contains about the strengths and weaknesses of the each selected strategic management theory. After that it contains about a combination of all the theories which has mention in the report, to fill up the gap of each theory using the strength of the other.
Finally, in the conclusion the report shows the final view of the researcher about the finding throughout the research and the assumption which can make about combination of the strategic management theories and the use of this combination for a better performance.
This document outlines the course contents for a Strategic Management course taught by Dr. Sabeeh Zaidi at the National University of Computers & Emerging Sciences in Lahore, Pakistan. The course covers key topics in strategic management including defining strategic management, the strategic management process and model, external and internal assessments, strategy formulation, implementation, and evaluation. It also discusses concepts like competitive advantage, vision and mission statements, and the benefits of taking a strategic approach to management.
This document summarizes a strategy huddle discussing how to drive strategy execution by overcoming resistance to change, clarifying planning processes, communicating responsibility, and incorporating risk management into strategic planning by identifying risks and monitoring key risk indicators. The huddle covered best practices leaders can use to drive strategy and questions from participants.
Operations management plays a strategic role in organizations in three key ways:
1. An organization's operations are responsible for enacting its strategy on a daily basis through the myriad of activities within the operations function.
2. The operations performance objectives of cost, quality, speed, dependability, and flexibility enable organizations to pursue different competitive strategies.
3. There is a debate around whether organizations must trade-off between operations objectives or can achieve excellence in multiple objectives through developing capabilities in a certain sequence, but either way operations strategy should prioritize key objectives to guide operations.
The document discusses strategic management and the importance of strategy for businesses in a dynamic competitive environment. It defines key terms like hypercompetition, strategic management, vision and mission statements, and strategic goals and objectives. Due to constantly changing business conditions, unpredictable customer behaviors, and cut-throat competition, strategic management is needed for organizations to survive, focus efforts, and avoid deviations from their targets. The strategic management process involves strategic analysis, decision-making, formulation, implementation, and control.
An overview of strategic management.ppsx11richamandla
Strategic management involves establishing organizational goals, analyzing the internal and external environment, formulating strategies to achieve goals, implementing strategies, and evaluating performance. It occurs at three levels - corporate, business unit, and functional. Corporate strategy defines the businesses the company will compete in, business strategy defines how it will compete in each business, and functional strategy defines how each department will contribute. Strategic management is an ongoing, cyclical process that orients the entire organization towards achieving its mission.
August White Paper 1/2016: Find Your Center of Gravity - Four Cornerstones of...August Associates
This document discusses four cornerstones of successful strategy renewal:
1) Developing a broad external view of changes in the relevant environment and emerging opportunities and threats.
2) Taking a deep internal view to understand the company's strengths, weaknesses, and "center of gravity".
3) Making bold decisions by translating the diagnosis into clear priorities, resource allocations, and go/no-go decisions.
4) Adjusting culture and capabilities to ensure actions are coherently building on each other and the company can achieve its new strategic objectives. Developing strategic capabilities and strengthening culture requires a long-term, systematic approach.
Attracting/Retaining and Developing Top Talentkells1414
This document discusses the benefits of automating talent management processes for small to mid-sized companies. It finds that while larger companies have adopted talent management technology, smaller companies still handle these tasks manually. This is inefficient and takes away resources that could otherwise be used for business growth. The document outlines 15 common talent management tasks and how automation can help with tasks like recruiting, onboarding, performance management, and learning management. It concludes that automation can improve efficiency, free up human and financial capital, and help companies address issues like high turnover and skills gaps.
Capture planning is a process that involves identifying business opportunities, assessing the competitive environment, and developing strategies to win specific opportunities. An effective capture planning process includes:
1. Developing a written capture plan with external and internal analyses, a capture strategy, and an execution plan.
2. Maintaining senior management support and committing the right resources to the capture team.
3. Establishing regular reviews of the capture plan to monitor progress and make adjustments.
4. Leveraging the capture plan to efficiently develop the initial proposal plan.
Strategic integrity is established by aligning strategy and execution at all levels of the organization. Strategic integrity is driven by specific approaches to organization, planning, and decision making.
Strategic management involves ongoing formulation, implementation, and evaluation of cross-functional decisions to achieve organizational objectives in light of internal and external environments. Key terms in strategic management include strategists who are responsible for organizational success or failure, mission statements that identify an organization's scope and values, and external opportunities and threats from trends outside an organization's control. Environmental scanning involves researching external information on opportunities and threats as well as analyzing internal strengths and weaknesses.
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.
The document provides an overview of strategic management. It defines strategic management as the art and science of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. The strategic management process involves analyzing external opportunities and threats as well as internal strengths and weaknesses, formulating long-term objectives and strategies, implementing strategies, and evaluating performance. The benefits of strategic management include being proactive in shaping the firm's future, formulating better strategies, and improving financial and non-financial performance.
This document provides an outline for a strategic management assignment on strategic decision making for a company called DL Limited.
1. It includes an introduction to strategic management and why it is important.
2. It performs an audit of DL Limited including a PESTLE analysis, SWOT analysis, and discusses Porter's 5 forces model and strategic positioning.
3. It reviews the literature on strategic decisions and discusses different schools of strategic thought.
4. It will critically analyze different frameworks for strategic decision making and provide recommendations to help DL Limited achieve its goals and objectives.
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.
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 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 provides information about Cost Academy, a strategic management training organization located in Kolkata, India. It includes contact information for the academy, as well as an outline of the strategic management course materials that will be covered, including definitions, frameworks, analysis tools, and case studies. The objectives of the course are to develop an understanding of general and competitive business environments as well as strategic management concepts and techniques.
Michaela Belbin offers visual design services such as webpage design, magazine spreads, slide presentations, poster design, photography, and typography. She provides contact information and is interested in being part of client teams for visual needs. The document also includes a quote about the bond between a mother and child being the purest love.
This document summarizes a master's paper by Tessa Sullivan from 2007 that surveyed current practices in metadata processes. The paper had 5 main sections: literature review on components of metadata processes including people, resources, tools, and rules; research goals of understanding current practices and limitations; methodology of conducting a survey; results on people working with metadata, settings, tools, software features, rules and requirements, and the process in action; and conclusions on limitations and areas for future research. The survey found the metadata process is quite complex, with variability in all components. A variety of software applications are used for metadata manipulation, and in-house developed tools were most common, suggesting no single turn-key solution exists. Careful planning of the
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.
This report is about combination of various strategic management theories which has explains by different authors with different viewpoints according to the situations which they are looking at.
Strategic management can be basically describe as a process which analysis the current situation and make strategies which will matches to that. Basically strategic management has three main processes which can name as strategic formulation, implementation and evaluation.
First this report explains about what is strategic management and how it has implemented and how if effects for an organization. Compare to that briefing then the report focus on the theories which has found out to be explain in the journals which has selected to review the strategic management theories.
And then the report contains about the strengths and weaknesses of the each selected strategic management theory. After that it contains about a combination of all the theories which has mention in the report, to fill up the gap of each theory using the strength of the other.
Finally, in the conclusion the report shows the final view of the researcher about the finding throughout the research and the assumption which can make about combination of the strategic management theories and the use of this combination for a better performance.
This document outlines the course contents for a Strategic Management course taught by Dr. Sabeeh Zaidi at the National University of Computers & Emerging Sciences in Lahore, Pakistan. The course covers key topics in strategic management including defining strategic management, the strategic management process and model, external and internal assessments, strategy formulation, implementation, and evaluation. It also discusses concepts like competitive advantage, vision and mission statements, and the benefits of taking a strategic approach to management.
This document summarizes a strategy huddle discussing how to drive strategy execution by overcoming resistance to change, clarifying planning processes, communicating responsibility, and incorporating risk management into strategic planning by identifying risks and monitoring key risk indicators. The huddle covered best practices leaders can use to drive strategy and questions from participants.
Operations management plays a strategic role in organizations in three key ways:
1. An organization's operations are responsible for enacting its strategy on a daily basis through the myriad of activities within the operations function.
2. The operations performance objectives of cost, quality, speed, dependability, and flexibility enable organizations to pursue different competitive strategies.
3. There is a debate around whether organizations must trade-off between operations objectives or can achieve excellence in multiple objectives through developing capabilities in a certain sequence, but either way operations strategy should prioritize key objectives to guide operations.
The document discusses strategic management and the importance of strategy for businesses in a dynamic competitive environment. It defines key terms like hypercompetition, strategic management, vision and mission statements, and strategic goals and objectives. Due to constantly changing business conditions, unpredictable customer behaviors, and cut-throat competition, strategic management is needed for organizations to survive, focus efforts, and avoid deviations from their targets. The strategic management process involves strategic analysis, decision-making, formulation, implementation, and control.
An overview of strategic management.ppsx11richamandla
Strategic management involves establishing organizational goals, analyzing the internal and external environment, formulating strategies to achieve goals, implementing strategies, and evaluating performance. It occurs at three levels - corporate, business unit, and functional. Corporate strategy defines the businesses the company will compete in, business strategy defines how it will compete in each business, and functional strategy defines how each department will contribute. Strategic management is an ongoing, cyclical process that orients the entire organization towards achieving its mission.
August White Paper 1/2016: Find Your Center of Gravity - Four Cornerstones of...August Associates
This document discusses four cornerstones of successful strategy renewal:
1) Developing a broad external view of changes in the relevant environment and emerging opportunities and threats.
2) Taking a deep internal view to understand the company's strengths, weaknesses, and "center of gravity".
3) Making bold decisions by translating the diagnosis into clear priorities, resource allocations, and go/no-go decisions.
4) Adjusting culture and capabilities to ensure actions are coherently building on each other and the company can achieve its new strategic objectives. Developing strategic capabilities and strengthening culture requires a long-term, systematic approach.
Attracting/Retaining and Developing Top Talentkells1414
This document discusses the benefits of automating talent management processes for small to mid-sized companies. It finds that while larger companies have adopted talent management technology, smaller companies still handle these tasks manually. This is inefficient and takes away resources that could otherwise be used for business growth. The document outlines 15 common talent management tasks and how automation can help with tasks like recruiting, onboarding, performance management, and learning management. It concludes that automation can improve efficiency, free up human and financial capital, and help companies address issues like high turnover and skills gaps.
Capture planning is a process that involves identifying business opportunities, assessing the competitive environment, and developing strategies to win specific opportunities. An effective capture planning process includes:
1. Developing a written capture plan with external and internal analyses, a capture strategy, and an execution plan.
2. Maintaining senior management support and committing the right resources to the capture team.
3. Establishing regular reviews of the capture plan to monitor progress and make adjustments.
4. Leveraging the capture plan to efficiently develop the initial proposal plan.
Strategic integrity is established by aligning strategy and execution at all levels of the organization. Strategic integrity is driven by specific approaches to organization, planning, and decision making.
Strategic management involves ongoing formulation, implementation, and evaluation of cross-functional decisions to achieve organizational objectives in light of internal and external environments. Key terms in strategic management include strategists who are responsible for organizational success or failure, mission statements that identify an organization's scope and values, and external opportunities and threats from trends outside an organization's control. Environmental scanning involves researching external information on opportunities and threats as well as analyzing internal strengths and weaknesses.
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.
The document provides an overview of strategic management. It defines strategic management as the art and science of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. The strategic management process involves analyzing external opportunities and threats as well as internal strengths and weaknesses, formulating long-term objectives and strategies, implementing strategies, and evaluating performance. The benefits of strategic management include being proactive in shaping the firm's future, formulating better strategies, and improving financial and non-financial performance.
This document provides an outline for a strategic management assignment on strategic decision making for a company called DL Limited.
1. It includes an introduction to strategic management and why it is important.
2. It performs an audit of DL Limited including a PESTLE analysis, SWOT analysis, and discusses Porter's 5 forces model and strategic positioning.
3. It reviews the literature on strategic decisions and discusses different schools of strategic thought.
4. It will critically analyze different frameworks for strategic decision making and provide recommendations to help DL Limited achieve its goals and objectives.
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.
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 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 provides information about Cost Academy, a strategic management training organization located in Kolkata, India. It includes contact information for the academy, as well as an outline of the strategic management course materials that will be covered, including definitions, frameworks, analysis tools, and case studies. The objectives of the course are to develop an understanding of general and competitive business environments as well as strategic management concepts and techniques.
Michaela Belbin offers visual design services such as webpage design, magazine spreads, slide presentations, poster design, photography, and typography. She provides contact information and is interested in being part of client teams for visual needs. The document also includes a quote about the bond between a mother and child being the purest love.
This document summarizes a master's paper by Tessa Sullivan from 2007 that surveyed current practices in metadata processes. The paper had 5 main sections: literature review on components of metadata processes including people, resources, tools, and rules; research goals of understanding current practices and limitations; methodology of conducting a survey; results on people working with metadata, settings, tools, software features, rules and requirements, and the process in action; and conclusions on limitations and areas for future research. The survey found the metadata process is quite complex, with variability in all components. A variety of software applications are used for metadata manipulation, and in-house developed tools were most common, suggesting no single turn-key solution exists. Careful planning of the
IBM Vs Microsoft and the battle for the corporate cloud businessNancy Saini
IBM and Microsoft are battling for dominance in the corporate cloud business. While Microsoft overtook IBM in revenue last year, both companies are struggling with declining legacy businesses and are trying to transition to cloud-based services. However, IBM is still underperforming Microsoft, as every IBM division showed revenue declines in 2015, calling into question whether IBM is truly succeeding in its strategic shift or just cannibalizing existing business. The corporate cloud market is massive and competitive, favoring companies like Microsoft that can provide services at scale across public, private and hybrid models to support large corporate customers. For IBM to compete, it will need to provide significantly better service than Microsoft to justify its higher margin strategic imperatives.
El documento describe un tanque séptico, un recipiente enterrado que deposita temporalmente aguas negras de una casa u otras instalaciones. Explica que los tanques sépticos eliminan sólidos en 1-3 días y que su profundidad depende del número de personas, siendo de 1,20m para 1-10 personas y 1,50m para 19-20 personas. Además, presenta un ejemplo del cálculo de las dimensiones de un tanque séptico para una casa de 14 personas.
Ellwood National Forge (ENF) is a wholly owned subsidiary of Ellwood Group Inc. that offers turn-key manufacturing solutions by leveraging the parent company's vertical integration. ENF manages the entire production process from steel making to forging to finishing to deliver high quality parts on schedule. This eliminates multiple purchase orders and risks for customers compared to managing the process themselves.
This document discusses quantum noise and error correction. It introduces classical linear error correction codes and describes how they can be used to create quantum error correction codes, specifically codes developed by Calderbank, Shor, and Steane. It then presents a formalism for describing quantum noise using density operators and quantum operations. It discusses the depolarizing channel as an example and introduces the concept of fidelity to quantify the effect of noise on quantum states. Finally, it describes the Shor 9-qubit code, one of the first quantum error correction codes developed.
Презентация участникам строительной выставки Обнинск Строй Экспо 2016"ПИАР ГРУП" ООО
Международная строительная выставка «Обнинск Строй Экспо» это: Эффективный инструмент для увеличения объёма продаж, Расширение географии сбыта строительных, отделочных и декоративных материалов, Представление новинок строительной отрасли в течение трёх выставочных дней, Уникальные площадки для делового общения в сфере строительства. За дополнительной информацией обращайтесь к координатору деловой программы:
☎ Елена Андреева: +7 (910) 919-10-38,
Электронная почта: andreevaes@prgroup.pro
The document outlines a payment program that pays representatives 50% of projected account profitability upfront and 15% residual payments for signing qualified businesses processing a minimum of $25,000 per month in credit card transactions to a new payment processing service. Representatives are expected to prospect businesses, start conversations about cost benefits, demo the product, and close 5 accounts per month averaging $50,000 in processing to earn $78,000 in the first year. The payment service provides sales support, online tools, and free equipment to help representatives close accounts.
Sizzle Properties Pvt Ltd is one of the largest villa plotted layout developers in East Bangalore, with four ongoing projects - Sizzle Atlantis with 130 villa plots off Old Madras Road on 7 acres 14 guntas of land, Sizzle Gold Coast with 360+ villa plots off Hoskote-Malur Road on 18+ acres of land, Sizzle Sunshine Coast with 120 villa plots in Budigere Cross off Old Madras Road on 5 acres of land, and Sizzle Park Fields with 80 villa plots in Budigere Cross near Bangalore International Airport Road on 3 acres 32 guntas of land.
The document is a training report submitted by Nishant Singh after completing a one-month training program at MECON Limited in their steel melting shop. It provides an overview of the key processes involved in steel melting including the basic oxygen furnace, continuous casting, and descriptions of the oxygen lance system and bottom stirring system used in the basic oxygen furnace. The summary focuses on the high-level details and learnings from the training.
La Evolucion de los Sistemas Operativosmarcoorteflo
Este documento resume la evolución de los principales sistemas operativos desde 1985 hasta 2016, incluyendo las versiones de Windows, Linux y MacOS lanzadas cada año y las actualizaciones más importantes como la introducción del CD-ROM por Apple en 1988 y el lanzamiento de Windows 95 en 1995.
This document discusses the field of robotics. It provides an introduction to robotics and how robots have evolved from large machines with limited sensors in older times to more advanced robots today that can see, move, and work with the use of mechanics, electronics, computers and software. The document also outlines several key applications of robotics, including space robotics, medical robotics, underwater robotics, agricultural robotics, and search and rescue robotics. It emphasizes that more research is still needed in robotics and that educational institutions should incorporate robotics into their curriculum and conduct more workshops on the subject.
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2. Table of Contents
Why Read This White Paper? …………………………………………………................................................ 2
Different Categories; Similar Cost Pressures …………………………………………………………………... 2
Six Phases for Success ……………………………………………………………………………………………. 3
Realizing the Benefits ……………………………………….……………………………………………………… 6
Our Recommendations …………………………………………………………………………………………….. 7
About BottomLine Group/For Further Information ………………………………………………………………. 7
3. Why Read This White Paper?
Some North American companies are already merging
their transient and meetings sourcing – and doing so with
great success. Is yours? A recent survey by Kevin
Iwamoto uncovered that approximately 70% of participants
were “planning to combine both buckets of spend to
improve their positions on increasingly tougher
negotiations with hotel suppliers.” Don’t be left behind.
Terms for small to midsize meetings can also be pre-
negotiated during the sourcing process. This can be a
time-saving benefit for companies. Sourcing transient and
meetings together can also improve relationships by
elevating the conversation to one that focuses on the total
opportunity versus just a portion of it. Read on to learn
more about the benefits offered by this strategy, and the
steps to get started on this consolidation journey, as
brought to life in a six-phased approach developed by
BottomLine Group (BLG).
Different Categories; Similar
Cost Pressures
Let’s begin by taking a look at these two categories.
Transient: Travel managers often hunt for new and
innovative ways to secure savings that can be attributed to
their transient programs. The U.S. in particular has
experienced a supplier’s market for the past few years,
and rate increases are often the norm, so it can be
challenging to deliver year-over-year savings. As a result,
companies look for creative cost-cutting approaches, such
as experimenting with a lower tier hotel, negotiating critical
complimentary amenities, or even exploring the benefits of
conducting reverse auctions in key markets. A well-
managed transient program is one that can adapt, and has
the resolve to leverage new technologies and trends in the
marketplace.
Meetings/Group: The meetings industry is maturing.
There is a lot of buzz around Strategic Meetings
Management (SMM), and many companies are dedicating
time and resources to roll out initiatives in support of this
strategy. The size of this expense category is capturing
the attention of the executive level within companies. A
study by the U.S. Travel Association (The Role of
Business Travel in the U.S. Economic Recovery) found
that of the $225 billion U.S. domestic travel industry, 57%
was for general business travel, and the remaining 43%
was attributed to meetings and conventions. In terms of
cost pressures, an Aberdeen study revealed that 73% of
companies want to reduce their meetings spend through
better cost management.
There is need and desire to find the synergy and transform
the management of these two categories. Merging
transient and meetings sourcing can reveal hidden
opportunities for companies to experience incremental
benefits.
Finding the Synergy
Historically, differing characteristics have defined the
sourcing and negotiating of transient versus meetings
contracts. These differences are depicted below, as well
as the synergy that exists between these two spend
categories:
The key message? Leverage the natural synergy.
Often, the same travelers are involved, and there are
shared goals among the collaborative teams in charge of
these spend categories.
COMPANIES THAT EMPLOY A STRATEGY TO
MERGE TRANSIENT AND MEETINGS SOURCING
WILL HAVE MORE VOLUME TO LEVERAGE WITH
SUPPLIERS, RESULTING IN THE POTENTIAL FOR
GREATER SAVINGS.
2
4. For companies not already running a consolidated
sourcing effort, BLG recommends that they proactively
leverage these spend categories to realize the benefits.
Aberdeen’s 2014 Strategic Meetings Management Survey
found that 67% of best-in-class companies find their cost
savings in the areas of “effective sourcing techniques and
effective supplier negotiations.” The study also reported
that best-in-class companies focus efforts on improving
their “ability to have visibility and see where spend goes
across the vendor landscape.” BLG challenges companies
to invigorate the sourcing process by implementing a
strategy to successfully merge these two spend
categories.
Six Phases for Success
BLG’s six-phased sourcing process can help companies,
like yours, navigate through this merging effort. Many
companies may desire to integrate their meetings spend
into the transient sourcing process, but are not sure where
to start. Travel Managers often find this task daunting due
to gaps in meetings spend reporting or due to lack of
resources. They are simply not clear on how to identify the
overlap and ultimately how to leverage this consolidated
spend. The phases below can guide these companies, and
yours, through their consolidation journey.
1. PLAN
When mapping out the framework for a consolidated
sourcing program, a company should determine the overall
goals and objectives that will drive the project. Key
questions to consider are:
What does success look like? Consider the
perspectives of leadership, travelers, and other
stakeholders. How would each of these stakeholder
groups define success?
What is new this year (e.g. new office locations,
important changes in volume, new leadership
directives impacting travel, new team members, etc.)?
Was last year’s program and process successful?
Spend some time reflecting on what worked and what
did not, and what could be different or should stay the
same in the coming year.
Answers to these questions can assist a company in
defining their path forward. Objectives for a consolidated
meetings and transient program could look like this:
To identify 20 overlapping meetings and transient
markets
To reduce rates in these key markets by 3% driven by
the total opportunity of meetings and transient spend
To secure complimentary internet and breakfast for
every hotel selected as preferred in these key markets
To lock in standard terms and conditions that will
govern small to midsize meetings
The planning phase also encompasses building out the
project plan and establishing a team governance model to
drive the project. Key action steps that address the
meetings side should be included in the typical project plan
of a transient program. It is important to think of these
items at the onset so that the project runs seamlessly and
steps are not overlooked. Remember to include critical
meetings related tasks in the project plan, such as:
MANY COMPANIES USE THE SAME HOTELS
(AND AIRLINES) FOR BOTH THEIR TRANSIENT
AND MEETINGS BUSINESS.
3
5. 2. ASSESS
Spend associated with meetings can be assessed along
with the transient data to understand volume and
projections for the upcoming year. Consider the synergy
created by bringing all data sources together to conduct
one analysis, versus spending the time on two separate
analyses. Tips for this assessment phase include:
Common sources to gauge meeting spend can
include expense reports, meeting cards, and
supplier data
Within the consolidation of travel and credit card
reports, one can look for key meetings indicators
such as spend in popular meetings destinations
(Fort Lauderdale, Las Vegas, Orlando, etc.) and
unusually high average rates that would signify
meetings volume
Companies should look for overlap to uncover the
top cities that are used for both transient and
meetings spend (Note: some hotels can
accommodate both the needs of transient and
meetings, and others cannot)
A proper analysis is integral to the process and this
upfront assessment is the cornerstone of any hotel
program. It is one of the sustaining elements that is
referred to throughout a project and beyond. If there
are questions about spend in a hotel, city, region, or
even chain, the answer can be found in this initial
assessment phase.
3. STRATEGIZE
The program goals and assessment findings will help drive
the strategy. Companies can unleash their full savings
potential by adopting a 360-degree view to strategically
source the hotel category. This information can be used to
formulate the overall Request for Proposal (RFP)
approach. Seven strategic levers to consider are outlined
below:
4
6. Incorporating meetings spend in the transient sourcing
process is an ideal strategy to effectively leverage the
buying power of combined spend. Meetings contracts are
typically negotiated on an event by event basis, but there
are components that can be negotiated in advance to
reduce the individual sourcing efforts. Companies should
identify key criteria and include these components during
the RFP process. Companies can also leverage their
meetings spend in their chain strategy. If the top chains
used for meetings align with the top chains used for
transient travel, there may be room to improve the
specifications of the chain agreements and improve the
benefits for both parties.
4. EXECUTE
There is much synergy in the execution of a consolidated
program. Consider these execution approaches:
The Meetings Module of the Global Business Travel
Association (GBTA) RFP form can be used to collect
standard meetings pricing information. This module
also includes 30 user-defined questions that can be
customized per client. It is important for companies
to think about what data will be useful and how this
data will be beneficial to the decision-making
process.
Companies can communicate their combined
transient and meetings goals in their cover letter
when distributing an RFP. If there are top markets
that overlap for both meetings and transient, itemize
these in the RFP communication so that suppliers
know where the combined approach will be focused.
The availability and proper analysis of robust
benchmarking data can lead to a successful
negotiation effort. Solid recommendations are
developed by taking market conditions into
consideration and comparing hotel offers to year over
year and peer benchmarks. A strong negotiator
armed with proper content will be respected by
suppliers, and will aim to deliver on the goals and
objectives driving the project.
The review of bid responses and hotel attributes will
reveal the hotels that will effectively serve the needs
of both transient and meetings stays.
Negotiating key concessions proactively will save
time for sourcing managers down the road.
5. IMPLEMENT
The implementation phase brings a consolidated hotel
program to life. Implementation includes activities to:
Notify the preferred suppliers
Quantify savings/cost avoidance
Communicate rate-loading information
Conduct rate audits
Set up relevant online booking and hotel directory
tools and processes
Strategic Levers
Demand Specifications: Assess and capitalize on traveler needs – including needs driven by policy – with a view to boost
opportunity for savings
Buying Power: Fully leverage corporate spend via an appropriate mix of right-sizing the program, marketing the
opportunity arising from adjacent spend categories (such as meetings), and restructuring supplier partnerships
Price Evaluation: Assess competitive bids leveraging important benchmarking metrics (market drivers including
economic indicators, hotel supply and demand and rates available to other clients) considering both rate as well as non-
price factors that are all too commonly ignored
Process Improvement: Realize process efficiencies that are deemed to have an immediate and lasting value
Rate Authentication: Benefit from sourced rates with ongoing, regular, and surprise rate and rogue spending audits
Spend Transparency: Increase the percentage of spend going through preferred booking channels
Spend Under Contract: Increase the percentage of spend channeled to preferred partners
5
7. Communication at this phase is critical to the success of
the program. Companies must ensure that all information
is accurate (i.e. rate-loading instructions, final rates,
amenity and VAT inclusion), and that all stakeholders are
notified (i.e. Hotel National Account Managers, individual
hotel contacts, travel management/meetings company
representatives, internal employees and leaders).
6. OPTIMIZE
Once a hotel program is communicated and negotiated,
there is still valuable work to be done to sustain it. A
program needs to have the flexibility to be altered to
accommodate changing business requirements. For
example, new markets may surface resulting in the
addition of a new preferred hotel or negative traveler
feedback regarding an existing preferred property may
lead to a change in suppliers. Other optimization efforts
can include:
Monitoring reporting to uncover new trends so the
program continues to align with traveler needs and
business requirements
Communicating program benefits frequently. Internal
meetings with key stakeholders can address what is
working well, what is not working well and what key
changes should be implemented
Conducting supplier meetings to review transient and
meetings reporting and discuss successes and
challenges
Tracking compliance to the preferred properties and to
the negotiated rates. If travelers or meeting arrangers
are not selecting the preferred hotels, it is important to
understand the reasons so that appropriate changes
can be made
Realizing the Benefits
Merging transient and meetings sourcing can deliver many
benefits to companies. Consider these positive outcomes:
Greater leverage and negotiation power can be
achieved by taking a holistic approach and presenting
consolidated spend to suppliers. Companies with
visibility of their consolidated spend can speak to the
totality of their business when presenting opportunities
to suppliers. Other companies may have a limited
view of their meetings spend, but they can still surmise
some meaningful trends to leverage from the data that
is available to them. Going forward, companies can
consider implementing steps to improve tracking of
their meetings spend so that this increased visibility
leads to greater positioning with the supplier base.
Increased savings through rate reductions can result
by presenting additional volume to the suppliers.
Typically, hotels will reward high-producing customers
with lower room rates. Incremental savings can result
for both the transient and meetings programs.
According to Aberdeen Group (May 2014), the top
reported pressure for Strategic Meetings Management
is “the need to reduce cost and improve savings on
meetings and event spend (73% of all respondents).”
Time savings through process reduction can result
from sourcing transient and meetings categories
together. For example, where there is overlap,
conversations with hotels can include discussions
about both transient and meetings, instead of tackling
these independently. Additionally, consider the time
saved for managers in charge of sourcing small to
midsize meetings when they already have standard
terms and conditions pre-negotiated as a result of the
consolidated sourcing effort.
Strengthened relationships may result as well. It is
important to maintain strong relationships so it’s
easier to do business in the long run. Hoteliers
typically aim to achieve a bigger “piece of the pie”,
and consistently ask about a company’s meetings
objectives when working on the transient program.
National Account Managers with some hotel
suppliers have the responsibility and oversight for
both transient and meetings spend, and can be
helpful allies in sourcing these categories together.
PRESENTING A UNITED FRONT THROUGH A
CONSOLIDATED SOURCING EFFORT MAY ASSIST
IN ALLEVIATING THIS PRESSURE BY ACHIEVING
KEY SAVINGS GOALS.
6
8. Our Recommendations
A GBTA report in May 2015 revealed that “two in five
buyers and meetings or event planners now work for
companies with formal meetings management programs.”
This growing trend provides good reason to believe that
volume data for meetings is more readily available.
If this data is now available, the question becomes: why
not leverage it for the greatest benefit?
Integrating transient and meetings sourcing is a natural,
beneficial next step. The process could seem daunting,
but it can be easy with experienced guidance and support.
In summary, BLG recommends that companies:
Follow the six-phased approach: plan, assess,
strategize, execute, implement and optimize
Find the synergy – use it to strengthen your
company’s position in the sourcing process
Foster an environment that can deliver win-win
benefits for both buyers and suppliers
Leveraging a strategy to merge transient and meetings
sourcing could improve negotiation power, build
relationships and increase savings. Why wouldn’t your
company do it?
About BottomLine Group
BottomLine Group (BLG) is a leading management
consultancy providing tailored strategies and
solutions to clients across North America. We are
trusted for having expertise in the Travel, Financial,
Professional Services industries, as well as in the
Public and Private sectors. Our team provides a suite
of services that achieve bottom-line results.
For more information on merging transient and
meetings sourcing, obtaining material for internal
presentations, or for help elevating the success of
your Travel Program, please contact:
Al Norman, Director, BottomLine Group
Al.Norman@bottomlineconsulting.com
Website: bottomlineconsulting.com
LinkedIn: linkedin.com/company/bottomline-group
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