In the globalization stage, all bussinesses exist for some purpose or goal, and managers have the responsibility for combining and using organizational resources to ensure that the organizations achieve their purpose. Strategic Management is a complex concept which has to do with an organization's scope and direction of activities, matching the activities with the environment and resource capability, as well as the values, expectations and goals of those influencing strategy. This research focused on small businesses, their features and dynamics in the course of making use of the tools and techniques in strategic management. It investigates how small businesses, in their course of building competitive advantage, make strategic decisions, and the factors related to the mere smallness of such businesses as affecting strategic choice are discussed. Dr. Le Nguyen Doan Khoi "Solutions for Creating Sustainable Competitive Advantage in Small Businesses" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47499.pdf Paper URL : https://www.ijtsrd.com/management/business-economics/47499/solutions-for-creating-sustainable-competitive-advantage-in-small-businesses/dr-le-nguyen-doan-khoi
Firm Characteristics and Financial Performance Evidence from Quoted Manufactu...ijtsrd
This study ascertained the relationship between Firm Characteristics and Financial Performance with a focus on quoted manufacturing firms in Nigeria. The specific objectives are to ascertain the relationship between Leverage, Board Size, and Tobin's Q of quoted manufacturing firms in Nigeria from 2010 2019. This study employed the use of Panel Data and Ex post facto research design. Secondary data were sourced from the publications of Nigeria Stock Exchange NSE and annual reports and accounts of the sampled firms. The data analyses were done through descriptive and inferential statistics. Descriptive statistics was done using trend analysis and multiple comparison of mean standard deviation of variables. Multivariate linear regression analysis via E Views 9.0 statistical software was used to test the hypotheses. The findings of this study are inter alia leverage and board size has significant negative relationship with Tobin's Q at 5 level of significance. It was recommended amongst others that firms need to use proportionate debt financing in relation to total capital financing in order to reverse the inverse relationship between leverage and Tobin's Q. Therefore, firms need to use debt financing up to a point where any extra debt financing reduces net cost to the firm. Okafor, Tochukwu G. | Ossai, Eke Celestine "Firm Characteristics and Financial Performance: Evidence from Quoted Manufacturing Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47517.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/47517/firm-characteristics-and-financial-performance-evidence-from-quoted-manufacturing-firms-in-nigeria/okafor-tochukwu-g
Corporate Governance and Earning Management in Saudi ArabiaAkashSharma618775
The research paper examines the corporate governance and earning management in Saudi Arabia. It
explores certain studies that worked in different areas and discusses their findings. The essential goal of this paper
is to exactly research the impact of the late corporate administration controls presented by Capital Market
Authority (CMA) on compelling income administration hone in Saudi Arabia. Corporate governance theory is
discussed here that elaborates the procedures of organization and different strategies. At that point speculations
are tried utilizing multivariate procedure to figure out whether corporate administration qualities essentially
oblige optional accumulations. The paper also discusses literature of previous studies and some methodologies are
discussed that are important. Three different types of methodologies are described here that are related to
organization. At the end, conclusion is presented.
The document discusses various topics related to organizational analysis and strategic management, including competencies, the VRIO framework, product life cycles, organizational structures, experience curves, and branding. It provides definitions and examples for each topic. Frameworks and models are referenced from sources on essentials of strategic management and organizational behavior. Examples are given for different types of product life cycles, organizational structures, experience curves, and the importance of branding.
Business analysis tips as per Gabrielle Rusignuolo are helpful in our growth of business. These business analysis tips are beneficial for promoting our business and take it at top most.
This document discusses internal analysis and competitive advantage. It defines competitive advantage as having a higher profit rate than competitors in an industry. Competitive advantage can come from low costs or differentiation. The building blocks of competitive advantage are discussed as efficiency, quality, customer responsiveness, and innovation. These allow companies to create value for customers. Resources, capabilities, and core competencies are also examined in generating competitive advantage. Factors like barriers to imitation, industry dynamics, and a company's strategic commitments influence how long an advantage will last. Reasons for company failure include inertia, prior strategic missteps, and the Icarus paradox. Maintaining advantage requires continuous improvement, benchmarking, and overcoming inertia.
Achieving sustainable competitive advantage through resource configurIAEME Publication
This document summarizes a research paper that examines how organizations can achieve sustainable competitive advantage through resource configuration and organizational identity. The paper aims to develop a model for the information technology industry showing how organizational learning, knowledge management, and innovation lead to sustainable competitive advantage when mediated by resource configuration and organizational identity. It reviews literature on sustainable competitive advantage and discusses key theoretical constructs like knowledge management, organizational learning, innovation, resource configuration, and organizational identity.
This document summarizes a multi-phase change management model. It describes 5 typical phases of an organizational transformation process: 1) letting go of the past, 2) emerging vision of the future, 3) making the future vision more concrete through practical steps, 4) broad implementation and anchoring changes, 5) stabilizing new processes and culture. It notes that phases 4 and 5, which focus on integration and consistency, typically last longer than earlier phases but are often neglected. The document also includes a "system curve" that tracks an organization's perceived ability to perform through the change process across three dimensions: orientation to the past, present business indicators, and future sustainability.
Firm Characteristics and Financial Performance Evidence from Quoted Manufactu...ijtsrd
This study ascertained the relationship between Firm Characteristics and Financial Performance with a focus on quoted manufacturing firms in Nigeria. The specific objectives are to ascertain the relationship between Leverage, Board Size, and Tobin's Q of quoted manufacturing firms in Nigeria from 2010 2019. This study employed the use of Panel Data and Ex post facto research design. Secondary data were sourced from the publications of Nigeria Stock Exchange NSE and annual reports and accounts of the sampled firms. The data analyses were done through descriptive and inferential statistics. Descriptive statistics was done using trend analysis and multiple comparison of mean standard deviation of variables. Multivariate linear regression analysis via E Views 9.0 statistical software was used to test the hypotheses. The findings of this study are inter alia leverage and board size has significant negative relationship with Tobin's Q at 5 level of significance. It was recommended amongst others that firms need to use proportionate debt financing in relation to total capital financing in order to reverse the inverse relationship between leverage and Tobin's Q. Therefore, firms need to use debt financing up to a point where any extra debt financing reduces net cost to the firm. Okafor, Tochukwu G. | Ossai, Eke Celestine "Firm Characteristics and Financial Performance: Evidence from Quoted Manufacturing Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47517.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/47517/firm-characteristics-and-financial-performance-evidence-from-quoted-manufacturing-firms-in-nigeria/okafor-tochukwu-g
Corporate Governance and Earning Management in Saudi ArabiaAkashSharma618775
The research paper examines the corporate governance and earning management in Saudi Arabia. It
explores certain studies that worked in different areas and discusses their findings. The essential goal of this paper
is to exactly research the impact of the late corporate administration controls presented by Capital Market
Authority (CMA) on compelling income administration hone in Saudi Arabia. Corporate governance theory is
discussed here that elaborates the procedures of organization and different strategies. At that point speculations
are tried utilizing multivariate procedure to figure out whether corporate administration qualities essentially
oblige optional accumulations. The paper also discusses literature of previous studies and some methodologies are
discussed that are important. Three different types of methodologies are described here that are related to
organization. At the end, conclusion is presented.
The document discusses various topics related to organizational analysis and strategic management, including competencies, the VRIO framework, product life cycles, organizational structures, experience curves, and branding. It provides definitions and examples for each topic. Frameworks and models are referenced from sources on essentials of strategic management and organizational behavior. Examples are given for different types of product life cycles, organizational structures, experience curves, and the importance of branding.
Business analysis tips as per Gabrielle Rusignuolo are helpful in our growth of business. These business analysis tips are beneficial for promoting our business and take it at top most.
This document discusses internal analysis and competitive advantage. It defines competitive advantage as having a higher profit rate than competitors in an industry. Competitive advantage can come from low costs or differentiation. The building blocks of competitive advantage are discussed as efficiency, quality, customer responsiveness, and innovation. These allow companies to create value for customers. Resources, capabilities, and core competencies are also examined in generating competitive advantage. Factors like barriers to imitation, industry dynamics, and a company's strategic commitments influence how long an advantage will last. Reasons for company failure include inertia, prior strategic missteps, and the Icarus paradox. Maintaining advantage requires continuous improvement, benchmarking, and overcoming inertia.
Achieving sustainable competitive advantage through resource configurIAEME Publication
This document summarizes a research paper that examines how organizations can achieve sustainable competitive advantage through resource configuration and organizational identity. The paper aims to develop a model for the information technology industry showing how organizational learning, knowledge management, and innovation lead to sustainable competitive advantage when mediated by resource configuration and organizational identity. It reviews literature on sustainable competitive advantage and discusses key theoretical constructs like knowledge management, organizational learning, innovation, resource configuration, and organizational identity.
This document summarizes a multi-phase change management model. It describes 5 typical phases of an organizational transformation process: 1) letting go of the past, 2) emerging vision of the future, 3) making the future vision more concrete through practical steps, 4) broad implementation and anchoring changes, 5) stabilizing new processes and culture. It notes that phases 4 and 5, which focus on integration and consistency, typically last longer than earlier phases but are often neglected. The document also includes a "system curve" that tracks an organization's perceived ability to perform through the change process across three dimensions: orientation to the past, present business indicators, and future sustainability.
Organizational Restructuring: Achieving Results by Reducing TurnoverAngelshoot
The document summarizes an organizational restructuring engagement at a 200-employee services firm. It describes high turnover rates preventing growth. The consultant conducted mapping to identify turnover drivers, benchmarked industry rates, and recommended changes like flatter structure, shared goals, and performance-based rewards. Implementation of recommendations lowered turnover significantly from 34.6% to 14.2% in a year. Financial metrics like profit margin and growth also improved.
The central idea behind SHRM is that all initiatives involving how people are managed need to be aligned with and in the support of the Organizational overall strategy. No Management is successful if its people is diverted from the vision and mission of the organization.
The document discusses performing an internal audit to assess the strengths and weaknesses of a company's internal functions. It describes analyzing key areas like management, marketing, finance, production/operations, research and development, and organizational culture. The internal audit process involves gathering information from managers and employees across departments to understand how each function contributes to business objectives. Identifying distinctive competencies and improving on weaknesses can help companies develop effective strategies.
Strategic leadership is important for determining strategic direction, exploiting core competencies, developing human capital, sustaining culture, emphasizing ethics, and establishing controls. Effective strategic leaders balance strategic and financial controls to achieve long-term returns. Characteristics of leaders, teams, and the environment influence the discretion leaders have over strategic decisions.
A summary lecture on Strategic Management. Given at Copenhagen Business School's MBA program spring 2010, while in the program.
The presentation gives an overview of the field of strategy. Extra attention is given to strategic innovation as a core discipline.
The presentation is rounded out by a Goldman Sachs strategy case.
Please contact Christian@engage-innovate.com for further information.
The document discusses various approaches for analyzing an organization's internal environment, including:
- SWOT analysis to identify strengths, weaknesses, opportunities, and threats
- Value chain analysis to examine primary and support activities
- Resource-based view to assess resources, capabilities, and distinctive competencies
It emphasizes the importance of internal analysis in understanding an organization's resources and competitive advantages. Managers can use these approaches to discover potential sources of competitive advantage and inform strategic decision-making.
Organizational Management and the role of HRM from different perspectivesAkashSharma618775
The present paper consists of 6 different parts. The first part is a portfolio where reflection on career
aspirations and developments needs are been illustrated. More specific details on the general labour market are
been discussed followed by career goals and development needs. The second part is a discussion on the
management challenges that managers are face in order to achieve organizational goals. More specific there is
been a discussion considering the corporate mission and the organizational culture, structure considering also
people management. The third part is about the employee perspective. There is a discussion regarding the
motivation theories, the employee stress and how can a leader or a manager empower the staff. The forth part of
this paper is a discussion about the wider Environmental Factors that affect the development of an Organization
today. Factors such as economy, political and sociological are been discussed evaluating a company’s strategy. At
the last chapter there is a discussion about the HRM department and how important it is for a company,
considered as a chain between the organization and its employees.
The document provides an overview of conducting an internal analysis for strategic management. It discusses analyzing an organization's resources and capabilities, including its resource-based view, business model, value chain, functional resources, and functional capabilities. Key aspects covered include identifying the organization's strengths and weaknesses, distinctive competencies, core competencies, management functions, strategic marketing issues like market position and segmentation, marketing mix, product life cycle, and brand reputation. The internal analysis is critical for understanding an organization's internal strategic factors to determine if it can take advantage of opportunities and avoid threats.
This document summarizes a case study on restructuring the human resources department of a growing automation services company. The company was facing high employee turnover, communication gaps between departments, and performance issues. Consultants conducted surveys, analyzed the organizational structure, mapped roles and resources, and developed a plan to restructure HR processes around performance management, training, recruitment, and policies. The next steps outlined implementing competency modeling, KPIs, training programs, recruitment policies, HR systems, and change management to address the company's people issues and support its continued growth.
This document provides an overview of strategic management and strategy. It discusses key concepts including:
- Strategy involves achieving competitive advantage by meeting customer needs better than rivals.
- Strategic management consists of strategy analysis, formulation, and implementation. These elements are interdependent.
- Strategy analysis evaluates the external environment and internal capabilities to determine how well positioned an organization is.
- Strategy formulation takes place at the business and corporate levels based on strategic analysis and creative insights.
- Strategy implementation requires effective communication and a flexible organizational culture.
- Corporate, business, and functional strategies operate at different levels within an organization.
Strategic entrepreneurship involves taking entrepreneurial actions from a strategic perspective to create new opportunities and competitive advantages. There are two main types of innovation - incremental innovations that build on existing knowledge, and radical innovations that create new knowledge. Internal corporate venturing involves two central processes - autonomous strategic behavior driven by product champions pursuing new ideas, and induced strategic behavior driven by a firm's strategy and structure.
The document outlines the key aspects of strategic management discussed in Chapter 8, including:
1) The six steps in the strategic management process, which involve analyzing internal/external environments, formulating strategies, and evaluating results.
2) The three major types of corporate strategies - growth, stability, and renewal strategies - and how the BCG matrix is used to analyze a company's portfolio.
3) Porter's five competitive forces model and the three generic competitive strategies of cost leadership, differentiation, and focus.
4) Why strategic flexibility is important in today's dynamic environment and strategies companies use regarding e-business, customers, and innovation.
The Effect of Change Management on Operational Excellence moderated by Commit...oon fok yew
This document summarizes a research study that investigated the relationship between change management factors (leadership style, human resource practices, and organizational culture) and operational excellence in the electrical and electronics industry in Malaysia. A survey was conducted of over 100 Malaysian manufacturing companies. The findings showed significant positive relationships between transformational leadership, human resource practices, and an involvement-oriented organizational culture trait with achieving operational excellence. The study also partially supported the moderating effect of employee commitment to change on the relationship between change management factors and operational excellence.
Describes the various partnership options available to nonprofit organizations including mergers, joint programming, administrative consolidation, management service organizations, parent-subsidiary, etc. He will present the findings of landmark studies on mergers and alliances in the United States, and discuss the benefits and challenges of restructuring as well as the phases of the strategic restructuring process
The document discusses assessing a firm's internal environment, including conducting SWOT and value chain analyses to evaluate strengths, weaknesses, and competitive advantages. It describes the primary and support activities in a value chain, such as inbound logistics, operations, outbound logistics, marketing and sales, service, technology development, and general administration. The document also covers assessing a firm's tangible, intangible, and organizational resources based on whether they are valuable, rare, difficult to imitate or substitute. Financial ratio analysis and stakeholder interests are mentioned as additional factors for internal assessment.
The document discusses key concepts in strategic management including:
1) Strategic management involves setting long-term plans to manage opportunities/threats based on strengths/weaknesses and determining corporate performance.
2) The strategic management process includes environmental scanning, strategy formulation, implementation, and evaluation.
3) Strategic flexibility and becoming a learning organization are important for adapting to changing environments.
4) Different levels of strategy include corporate, business unit, and functional strategies.
Effective strategic leadership involves developing a long-term strategic vision, exploiting core competencies, developing human capital, sustaining an effective culture, establishing balanced organizational controls, and emphasizing ethical practices. A strategic leader determines strategic direction by creating a vision of strategic intent and structures the organization effectively. They also develop human capital and exploit core competencies, which cannot be done without developing people. Additionally, strategic leaders sustain culture through constant learning and teamwork, and establish controls and ethical practices to guide the organization.
Analyzing a company’s external environmentM.S. SaHiR
This document discusses various strategic analysis tools and environmental factors that affect businesses. It explains that environmental analysis is used to identify internal and external elements that can impact an organization's performance. This includes assessing opportunities and threats from various factors. PESTLE analysis provides a high-level view of the political, economic, social, technological, legal, and environmental conditions for a business. Porter's Five Forces model also analyzes the competitive landscape including the threat of new entrants, power of suppliers and buyers, threat of substitutes, and industry rivalry. Key success factors within an industry that determine financial success are also discussed.
Entrepreneurial Marketing Practice The Effect on Growth of Small and Medium S...ijtsrd
Entrepreneurial marketing EM practices have been identified as one of the important key ingredients for growth in small and medium enterprises. SMEs . The success or failure of SMEs is said to rest in part on the nature and types of marketing practices they employ. The objective of the study is to determine the effect of product development strategy and pricing strategies on growth of small and medium enterprises SMEs in Ekiti State. Survey design was employed in which questionnaires were used to collect primary data from the respondents. The population made up of owners managers of small and medium enterprises in Ekiti State while simple random techniques was used to select 150 samples size who participated in the study and inferential statistics including chi square was adopt to test the hypothesis. The findings revealed that there is relationship between product development strategy, pricing strategy and the growth of small and medium enterprises. It was recommended that comprehensive training on product innovation for the SMEs owners manager on entrepreneurship and always adopts pricing strategies. Ogundele, Taiwo | Medayese Olanike Olayinka "Entrepreneurial Marketing Practice: The Effect on Growth of Small and Medium Scale Business in Ekiti State" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-3 , April 2022, URL: https://www.ijtsrd.com/papers/ijtsrd49475.pdf Paper URL: https://www.ijtsrd.com/management/marketing/49475/entrepreneurial-marketing-practice-the-effect-on-growth-of-small-and-medium-scale-business-in-ekiti-state/ogundele-taiwo
The objective of the paper is to provide an in depth analysis of the concept of intrapreneurship and
how it is a leeway to the success of small-scale businesses in South East Nigeria. Extant literature were reviewed
and the theoretical framework is anchored on the psychological innovation entrepreneurship theory propounded
by Schumpeter in1938 in which he describes the entrepreneur as one forsaking well-trodden paths to open up
new territory and as turning dreams into reality. A structured questionnaire that gauged the structure; size,
control, organizational and communications levels of Small Scale Businesses, in relation with intrapreneurship
was developed and administered to small scale businesses. Data collected were analysed using the Pearson‟s
product moment correlation, t-test and three (3) simple regression models. Also to show that the data satisfies the
conditions for parametric analysis, the F-Statistic linearity test and Shapiro-Wilk‟s test of normality was also
conducted using the SPSS version 20.0. However, from the data analysis, it was found that small-scale business
growth is enhanced through intrapreneurship activities. Consequently it is recommended that small-scale owners
should engage people with entrepreneurship orientations.
This document summarizes a research study that examined how characteristics of entrepreneurs and firms affect the business success of small and medium enterprises (SMEs) in Bangladesh. The study found that entrepreneur characteristics, such as age, gender, education level and experience, significantly impacted business success, while firm characteristics did not. Specifically, SMEs operated longer by entrepreneurs were more successful, and male-owned SMEs performed better than female-owned ones. The document provides background on SMEs' important contributions to the Bangladeshi economy and reviews prior literature on factors influencing business success.
Organizational Restructuring: Achieving Results by Reducing TurnoverAngelshoot
The document summarizes an organizational restructuring engagement at a 200-employee services firm. It describes high turnover rates preventing growth. The consultant conducted mapping to identify turnover drivers, benchmarked industry rates, and recommended changes like flatter structure, shared goals, and performance-based rewards. Implementation of recommendations lowered turnover significantly from 34.6% to 14.2% in a year. Financial metrics like profit margin and growth also improved.
The central idea behind SHRM is that all initiatives involving how people are managed need to be aligned with and in the support of the Organizational overall strategy. No Management is successful if its people is diverted from the vision and mission of the organization.
The document discusses performing an internal audit to assess the strengths and weaknesses of a company's internal functions. It describes analyzing key areas like management, marketing, finance, production/operations, research and development, and organizational culture. The internal audit process involves gathering information from managers and employees across departments to understand how each function contributes to business objectives. Identifying distinctive competencies and improving on weaknesses can help companies develop effective strategies.
Strategic leadership is important for determining strategic direction, exploiting core competencies, developing human capital, sustaining culture, emphasizing ethics, and establishing controls. Effective strategic leaders balance strategic and financial controls to achieve long-term returns. Characteristics of leaders, teams, and the environment influence the discretion leaders have over strategic decisions.
A summary lecture on Strategic Management. Given at Copenhagen Business School's MBA program spring 2010, while in the program.
The presentation gives an overview of the field of strategy. Extra attention is given to strategic innovation as a core discipline.
The presentation is rounded out by a Goldman Sachs strategy case.
Please contact Christian@engage-innovate.com for further information.
The document discusses various approaches for analyzing an organization's internal environment, including:
- SWOT analysis to identify strengths, weaknesses, opportunities, and threats
- Value chain analysis to examine primary and support activities
- Resource-based view to assess resources, capabilities, and distinctive competencies
It emphasizes the importance of internal analysis in understanding an organization's resources and competitive advantages. Managers can use these approaches to discover potential sources of competitive advantage and inform strategic decision-making.
Organizational Management and the role of HRM from different perspectivesAkashSharma618775
The present paper consists of 6 different parts. The first part is a portfolio where reflection on career
aspirations and developments needs are been illustrated. More specific details on the general labour market are
been discussed followed by career goals and development needs. The second part is a discussion on the
management challenges that managers are face in order to achieve organizational goals. More specific there is
been a discussion considering the corporate mission and the organizational culture, structure considering also
people management. The third part is about the employee perspective. There is a discussion regarding the
motivation theories, the employee stress and how can a leader or a manager empower the staff. The forth part of
this paper is a discussion about the wider Environmental Factors that affect the development of an Organization
today. Factors such as economy, political and sociological are been discussed evaluating a company’s strategy. At
the last chapter there is a discussion about the HRM department and how important it is for a company,
considered as a chain between the organization and its employees.
The document provides an overview of conducting an internal analysis for strategic management. It discusses analyzing an organization's resources and capabilities, including its resource-based view, business model, value chain, functional resources, and functional capabilities. Key aspects covered include identifying the organization's strengths and weaknesses, distinctive competencies, core competencies, management functions, strategic marketing issues like market position and segmentation, marketing mix, product life cycle, and brand reputation. The internal analysis is critical for understanding an organization's internal strategic factors to determine if it can take advantage of opportunities and avoid threats.
This document summarizes a case study on restructuring the human resources department of a growing automation services company. The company was facing high employee turnover, communication gaps between departments, and performance issues. Consultants conducted surveys, analyzed the organizational structure, mapped roles and resources, and developed a plan to restructure HR processes around performance management, training, recruitment, and policies. The next steps outlined implementing competency modeling, KPIs, training programs, recruitment policies, HR systems, and change management to address the company's people issues and support its continued growth.
This document provides an overview of strategic management and strategy. It discusses key concepts including:
- Strategy involves achieving competitive advantage by meeting customer needs better than rivals.
- Strategic management consists of strategy analysis, formulation, and implementation. These elements are interdependent.
- Strategy analysis evaluates the external environment and internal capabilities to determine how well positioned an organization is.
- Strategy formulation takes place at the business and corporate levels based on strategic analysis and creative insights.
- Strategy implementation requires effective communication and a flexible organizational culture.
- Corporate, business, and functional strategies operate at different levels within an organization.
Strategic entrepreneurship involves taking entrepreneurial actions from a strategic perspective to create new opportunities and competitive advantages. There are two main types of innovation - incremental innovations that build on existing knowledge, and radical innovations that create new knowledge. Internal corporate venturing involves two central processes - autonomous strategic behavior driven by product champions pursuing new ideas, and induced strategic behavior driven by a firm's strategy and structure.
The document outlines the key aspects of strategic management discussed in Chapter 8, including:
1) The six steps in the strategic management process, which involve analyzing internal/external environments, formulating strategies, and evaluating results.
2) The three major types of corporate strategies - growth, stability, and renewal strategies - and how the BCG matrix is used to analyze a company's portfolio.
3) Porter's five competitive forces model and the three generic competitive strategies of cost leadership, differentiation, and focus.
4) Why strategic flexibility is important in today's dynamic environment and strategies companies use regarding e-business, customers, and innovation.
The Effect of Change Management on Operational Excellence moderated by Commit...oon fok yew
This document summarizes a research study that investigated the relationship between change management factors (leadership style, human resource practices, and organizational culture) and operational excellence in the electrical and electronics industry in Malaysia. A survey was conducted of over 100 Malaysian manufacturing companies. The findings showed significant positive relationships between transformational leadership, human resource practices, and an involvement-oriented organizational culture trait with achieving operational excellence. The study also partially supported the moderating effect of employee commitment to change on the relationship between change management factors and operational excellence.
Describes the various partnership options available to nonprofit organizations including mergers, joint programming, administrative consolidation, management service organizations, parent-subsidiary, etc. He will present the findings of landmark studies on mergers and alliances in the United States, and discuss the benefits and challenges of restructuring as well as the phases of the strategic restructuring process
The document discusses assessing a firm's internal environment, including conducting SWOT and value chain analyses to evaluate strengths, weaknesses, and competitive advantages. It describes the primary and support activities in a value chain, such as inbound logistics, operations, outbound logistics, marketing and sales, service, technology development, and general administration. The document also covers assessing a firm's tangible, intangible, and organizational resources based on whether they are valuable, rare, difficult to imitate or substitute. Financial ratio analysis and stakeholder interests are mentioned as additional factors for internal assessment.
The document discusses key concepts in strategic management including:
1) Strategic management involves setting long-term plans to manage opportunities/threats based on strengths/weaknesses and determining corporate performance.
2) The strategic management process includes environmental scanning, strategy formulation, implementation, and evaluation.
3) Strategic flexibility and becoming a learning organization are important for adapting to changing environments.
4) Different levels of strategy include corporate, business unit, and functional strategies.
Effective strategic leadership involves developing a long-term strategic vision, exploiting core competencies, developing human capital, sustaining an effective culture, establishing balanced organizational controls, and emphasizing ethical practices. A strategic leader determines strategic direction by creating a vision of strategic intent and structures the organization effectively. They also develop human capital and exploit core competencies, which cannot be done without developing people. Additionally, strategic leaders sustain culture through constant learning and teamwork, and establish controls and ethical practices to guide the organization.
Analyzing a company’s external environmentM.S. SaHiR
This document discusses various strategic analysis tools and environmental factors that affect businesses. It explains that environmental analysis is used to identify internal and external elements that can impact an organization's performance. This includes assessing opportunities and threats from various factors. PESTLE analysis provides a high-level view of the political, economic, social, technological, legal, and environmental conditions for a business. Porter's Five Forces model also analyzes the competitive landscape including the threat of new entrants, power of suppliers and buyers, threat of substitutes, and industry rivalry. Key success factors within an industry that determine financial success are also discussed.
Entrepreneurial Marketing Practice The Effect on Growth of Small and Medium S...ijtsrd
Entrepreneurial marketing EM practices have been identified as one of the important key ingredients for growth in small and medium enterprises. SMEs . The success or failure of SMEs is said to rest in part on the nature and types of marketing practices they employ. The objective of the study is to determine the effect of product development strategy and pricing strategies on growth of small and medium enterprises SMEs in Ekiti State. Survey design was employed in which questionnaires were used to collect primary data from the respondents. The population made up of owners managers of small and medium enterprises in Ekiti State while simple random techniques was used to select 150 samples size who participated in the study and inferential statistics including chi square was adopt to test the hypothesis. The findings revealed that there is relationship between product development strategy, pricing strategy and the growth of small and medium enterprises. It was recommended that comprehensive training on product innovation for the SMEs owners manager on entrepreneurship and always adopts pricing strategies. Ogundele, Taiwo | Medayese Olanike Olayinka "Entrepreneurial Marketing Practice: The Effect on Growth of Small and Medium Scale Business in Ekiti State" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-3 , April 2022, URL: https://www.ijtsrd.com/papers/ijtsrd49475.pdf Paper URL: https://www.ijtsrd.com/management/marketing/49475/entrepreneurial-marketing-practice-the-effect-on-growth-of-small-and-medium-scale-business-in-ekiti-state/ogundele-taiwo
The objective of the paper is to provide an in depth analysis of the concept of intrapreneurship and
how it is a leeway to the success of small-scale businesses in South East Nigeria. Extant literature were reviewed
and the theoretical framework is anchored on the psychological innovation entrepreneurship theory propounded
by Schumpeter in1938 in which he describes the entrepreneur as one forsaking well-trodden paths to open up
new territory and as turning dreams into reality. A structured questionnaire that gauged the structure; size,
control, organizational and communications levels of Small Scale Businesses, in relation with intrapreneurship
was developed and administered to small scale businesses. Data collected were analysed using the Pearson‟s
product moment correlation, t-test and three (3) simple regression models. Also to show that the data satisfies the
conditions for parametric analysis, the F-Statistic linearity test and Shapiro-Wilk‟s test of normality was also
conducted using the SPSS version 20.0. However, from the data analysis, it was found that small-scale business
growth is enhanced through intrapreneurship activities. Consequently it is recommended that small-scale owners
should engage people with entrepreneurship orientations.
This document summarizes a research study that examined how characteristics of entrepreneurs and firms affect the business success of small and medium enterprises (SMEs) in Bangladesh. The study found that entrepreneur characteristics, such as age, gender, education level and experience, significantly impacted business success, while firm characteristics did not. Specifically, SMEs operated longer by entrepreneurs were more successful, and male-owned SMEs performed better than female-owned ones. The document provides background on SMEs' important contributions to the Bangladeshi economy and reviews prior literature on factors influencing business success.
The document discusses a model for assessing an accounting body's sustainability agenda. It analyzes key internal and external drivers that shape the body's sustainability efforts and how these drivers impact the business model. The model groups the drivers and matches them to components of the business model like advocacy, thought leadership, leading business, and skilling the profession. It provides examples of how sustainability reporting is affecting accountants' roles and skills.
The document discusses 7 best practices for sustainability that have helped organizations stay at the leading edge. These practices include: 1) setting sustainability goals and measuring success, 2) stakeholder engagement, 3) sustainability issues mapping, 4) sustainability management systems, 5) product life cycle assessment and design, 6) sustainability reporting, and 7) integrating sustainability into brands. It argues that while sustainability can generate revenue and reduce costs, most organizations are not taking full advantage of these tools and should prioritize implementing as many of these practices as possible to improve.
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The Effects of Entrepreneur Orientation and Strategic Agility on SMEs Busines...AJHSSR Journal
ABSTRACT : This research is expected to provide empirical evidence regarding the effect of entrepreneur
orientation and strategic agility on SME business performance during the recession due to the Covid-19
pandemic. A total of 135 respondents who are SME owners were asked to answer some questions in the form of
a questionnaire. The survey target is SMEs engaged in the manufacturing industry sector in Balikpapan City,
Indonesia. The data that has been collected will be tested using Smart-PLS Software. The results show that
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business performance. Furthermore, the results also confirm that strategic agility plays a role in mediating the
relationship between entrepreneur orientation and business performance. This study is expected to help SME
owners, particularly the manufacturing sector, to understand the importance of strengthening entrepreneur
orientation and implementing strategic agility to maintain and improve business performance
KEYWORDS : Resources Base View (RBV), Entrepreneur Orientation, Strategic Agility, Business
Performance, Small and Medium Enterprises (SMEs).
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Capacity Management and Survival of Selected Small and Medium Enterprises SME...YogeshIJTSRD
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767
CHAPTER 22
CRITICAL RESEARCH
ISSUES IN TALENT
MANAGEMENT
Rob Silzer
In general, research on talent management in organizations has
been limited (see Gubman, 1998; Lawler, 2008; Lewis & Heckman,
2006), although much has been written about specifi c talent man-
agement components such as recruiting, selection, and perfor-
mance management. Doing rigorous research in organizations is
challenging because of the complexity of fi eld research and the
limited ability to hold some variables constant while others are
studied. The fi eld also lacks agreement on the appropriate type and
level of outcome measures to use.
Many of the previous chapters make suggestions for future
research in specifi c areas of talent management. This chapter
discusses the talent management areas that would benefi t from
further research investigation (see Table 22.1 ).
Key Strategic Links
At the beginning of this book, we identifi ed the key strategic links
in how talent management can be ingrained in a business organi-
zation. While business managers have generally developed strong
links among the business environment, the business strategy, and
business results, this process in the past has often bypassed human
resource (HR) and talent management systems. Business executives
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EBSCO Publishing : eBook Collection (EBSCOhost) - printed on 6/12/2020 10:12 PM via STRAYER UNIVERSITY
AN: 300763 ; Dowell, Ben E., Silzer, Robert Frank.; Strategy-Driven Talent Management : A Leadership Imperative
Account: strayer.main.eds-live
768 Strategy-Driven Talent Management
and human resource professionals are increasingly likely to see tal-
ent management as a core business process that has a major role
to play in linking business strategy to business results. However, the
links between these business elements are not yet well developed,
and many of them are relatively weak (see Figure 22.1 ).
A critical area for research is investigating these links and
identifying the factors that strengthen or weaken the links. We
probably have better insight into the link between a talent strat-
egy and talent programs and processes than for the other links
in Figure 22.1 . In this area, some HR and talent professionals are
experienced and knowledgeable. But linking these at the front
and back end with business practices is a relatively new fi eld. For
example, which changes in talent can directl.
767
CHAPTER 22
CRITICAL RESEARCH
ISSUES IN TALENT
MANAGEMENT
Rob Silzer
In general, research on talent management in organizations has
been limited (see Gubman, 1998; Lawler, 2008; Lewis & Heckman,
2006), although much has been written about specifi c talent man-
agement components such as recruiting, selection, and perfor-
mance management. Doing rigorous research in organizations is
challenging because of the complexity of fi eld research and the
limited ability to hold some variables constant while others are
studied. The fi eld also lacks agreement on the appropriate type and
level of outcome measures to use.
Many of the previous chapters make suggestions for future
research in specifi c areas of talent management. This chapter
discusses the talent management areas that would benefi t from
further research investigation (see Table 22.1 ).
Key Strategic Links
At the beginning of this book, we identifi ed the key strategic links
in how talent management can be ingrained in a business organi-
zation. While business managers have generally developed strong
links among the business environment, the business strategy, and
business results, this process in the past has often bypassed human
resource (HR) and talent management systems. Business executives
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EBSCO Publishing : eBook Collection (EBSCOhost) - printed on 6/12/2020 10:12 PM via STRAYER UNIVERSITY
AN: 300763 ; Dowell, Ben E., Silzer, Robert Frank.; Strategy-Driven Talent Management : A Leadership Imperative
Account: strayer.main.eds-live
768 Strategy-Driven Talent Management
and human resource professionals are increasingly likely to see tal-
ent management as a core business process that has a major role
to play in linking business strategy to business results. However, the
links between these business elements are not yet well developed,
and many of them are relatively weak (see Figure 22.1 ).
A critical area for research is investigating these links and
identifying the factors that strengthen or weaken the links. We
probably have better insight into the link between a talent strat-
egy and talent programs and processes than for the other links
in Figure 22.1 . In this area, some HR and talent professionals are
experienced and knowledgeable. But linking these at the front
and back end with business practices is a relatively new fi eld. For
example, which changes in talent can directl.
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This study investigated the impact of educational background and professional training on human rights awareness among secondary school teachers in the Marathwada region of Maharashtra, India. The key findings reveal that higher levels of education, particularly a master’s degree, and fields of study related to education, humanities, or social sciences are associated with greater human rights awareness among teachers. Additionally, both pre service teacher training and in service professional development programs focused on human rights education significantly enhance teacher’s knowledge, skills, and competencies in promoting human rights principles in their classrooms. Baig Ameer Bee Mirza Abdul Aziz | Dr. Syed Azaz Ali Amjad Ali "The Impact of Educational Background and Professional Training on Human Rights Awareness among Secondary School Teachers" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64529.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/education/64529/the-impact-of-educational-background-and-professional-training-on-human-rights-awareness-among-secondary-school-teachers/baig-ameer-bee-mirza-abdul-aziz
A Study on the Effective Teaching Learning Process in English Curriculum at t...ijtsrd
“One Language sets you in a corridor for life. Two languages open every door along the way” Frank Smith English as a foreign language or as a second language has been ruling in India since the period of Lord Macaulay. But the question is how much we teach or learn English properly in our culture. Is there any scope to use English as a language rather than a subject How much we learn or teach English without any interference of mother language specially in the classroom teaching learning scenario in West Bengal By considering all these issues the researcher has attempted in this article to focus on the effective teaching learning process comparing to other traditional strategies in the field of English curriculum at the secondary level to investigate whether they fulfill the present teaching learning requirements or not by examining the validity of the present curriculum of English. The purpose of this study is to focus on the effectiveness of the systematic, scientific, sequential and logical transaction of the course between the teachers and the learners in the perspective of the 5Es programme that is engage, explore, explain, extend and evaluate. Sanchali Mondal | Santinath Sarkar "A Study on the Effective Teaching Learning Process in English Curriculum at the Secondary Level of West Bengal" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd62412.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/education/62412/a-study-on-the-effective-teaching-learning-process-in-english-curriculum-at-the-secondary-level-of-west-bengal/sanchali-mondal
The Role of Mentoring and Its Influence on the Effectiveness of the Teaching ...ijtsrd
This paper reports on a study which was conducted to investigate the role of mentoring and its influence on the effectiveness of the teaching of Physics in secondary schools in the South West Region of Cameroon. The study adopted the convergent parallel mixed methods design, focusing on respondents in secondary schools in the South West Region of Cameroon. Both quantitative and qualitative data were collected, analysed separately, and the results were compared to see if the findings confirm or disconfirm each other. The quantitative analysis found that majority of the respondents 72 of Physics teachers affirmed that they had more experienced colleagues as mentors to help build their confidence, improve their teaching, and help them improve their effectiveness and efficiency in guiding learners’ achievements. Only 28 of the respondents disagreed with these statements. With majority respondents 72 agreeing with the statements, it implies that in most secondary schools, experienced Physics teachers act as mentors to build teachers’ confidence in teaching and improving students’ learning. The interview qualitative data analysis summarized how secondary school Principals use meetings with mentors and mentees to promote mentorship in the school milieu. This has helped strengthen teachers’ classroom practices in secondary schools in the South West Region of Cameroon. With the results confirming each other, the study recommends that mentoring should focus on helping teachers employ social interactions and instructional practices feedback and clarity in teaching that have direct measurable impact on students’ learning achievements. Andrew Ngeim Sumba | Frederick Ebot Ashu | Peter Agborbechem Tambi "The Role of Mentoring and Its Influence on the Effectiveness of the Teaching of Physics in Secondary Schools in the South West Region of Cameroon" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64524.pdf Paper Url: https://www.ijtsrd.com/management/management-development/64524/the-role-of-mentoring-and-its-influence-on-the-effectiveness-of-the-teaching-of-physics-in-secondary-schools-in-the-south-west-region-of-cameroon/andrew-ngeim-sumba
Design Simulation and Hardware Construction of an Arduino Microcontroller Bas...ijtsrd
This study primarily focuses on the design of a high side buck converter using an Arduino microcontroller. The converter is specifically intended for use in DC DC applications, particularly in standalone solar PV systems where the PV output voltage exceeds the load or battery voltage. To evaluate the performance of the converter, simulation experiments are conducted using Proteus Software. These simulations provide insights into the input and output voltages, currents, powers, and efficiency under different state of charge SoC conditions of a 12V,70Ah rechargeable lead acid battery. Additionally, the hardware design of the converter is implemented, and practical data is collected through operation, monitoring, and recording. By comparing the simulation results with the practical results, the efficiency and performance of the designed converter are assessed. The findings indicate that while the buck converter is suitable for practical use in standalone PV systems, its efficiency is compromised due to a lower output current. Chan Myae Aung | Dr. Ei Mon "Design Simulation and Hardware Construction of an Arduino-Microcontroller Based DC-DC High-Side Buck Converter for Standalone PV System" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64518.pdf Paper Url: https://www.ijtsrd.com/engineering/mechanical-engineering/64518/design-simulation-and-hardware-construction-of-an-arduinomicrocontroller-based-dcdc-highside-buck-converter-for-standalone-pv-system/chan-myae-aung
Sustainable Energy by Paul A. Adekunte | Matthew N. O. Sadiku | Janet O. Sadikuijtsrd
Energy becomes sustainable if it meets the needs of the present without compromising the ability of future generations to meet their own needs. Some of the definitions of sustainable energy include the considerations of environmental aspects such as greenhouse gas emissions, social, and economic aspects such as energy poverty. Generally far more sustainable than fossil fuel are renewable energy sources such as wind, hydroelectric power, solar, and geothermal energy sources. Worthy of note is that some renewable energy projects, like the clearing of forests to produce biofuels, can cause severe environmental damage. The sustainability of nuclear power which is a low carbon source is highly debated because of concerns about radioactive waste, nuclear proliferation, and accidents. The switching from coal to natural gas has environmental benefits, including a lower climate impact, but could lead to delay in switching to more sustainable options. “Carbon capture and storage” can be built into power plants to remove the carbon dioxide CO2 emissions, but this technology is expensive and has rarely been implemented. Leading non renewable energy sources around the world is fossil fuels, coal, petroleum, and natural gas. Nuclear energy is usually considered another non renewable energy source, although nuclear energy itself is a renewable energy source, but the material used in nuclear power plants is not. The paper addresses the issue of sustainable energy, its attendant benefits to the future generation, and humanity in general. Paul A. Adekunte | Matthew N. O. Sadiku | Janet O. Sadiku "Sustainable Energy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64534.pdf Paper Url: https://www.ijtsrd.com/engineering/electrical-engineering/64534/sustainable-energy/paul-a-adekunte
Concepts for Sudan Survey Act Implementations Executive Regulations and Stand...ijtsrd
This paper aims to outline the executive regulations, survey standards, and specifications required for the implementation of the Sudan Survey Act, and for regulating and organizing all surveying work activities in Sudan. The act has been discussed for more than 5 years. The Land Survey Act was initiated by the Sudan Survey Authority and all official legislations were headed by the Sudan Ministry of Justice till it was issued in 2022. The paper presents conceptual guidelines to be used for the Survey Act implementation and to regulate the survey work practice, standardizing the field surveys, processing, quality control, procedures, and the processes related to survey work carried out by the stakeholders and relevant authorities in Sudan. The conceptual guidelines are meant to improve the quality and harmonization of geospatial data and to aid decision making processes as well as geospatial information systems. The established comprehensive executive regulations will govern and regulate the implementation of the Sudan Survey Geomatics Act in all surveying and mapping practices undertaken by the Sudan Survey Authority SSA and state local survey departments for public or private sector organizations. The targeted standards and specifications include the reference frame, projection, coordinate systems, and the guidelines and specifications that must be followed in the field of survey work, processes, and mapping products. In the last few decades, there has been a growing awareness of the importance of geomatics activities and measurements on the Earths surface in space and time, together with observing and mapping the changes. In such cases, data must be captured promptly, standardized, and obtained with more accuracy and specified in much detail. The paper will also highlight the current situation in Sudan, the degree to which survey standards are used, the problems encountered, and the errors that arise from not using the standards and survey specifications. Kamal A. A. Sami "Concepts for Sudan Survey Act Implementations - Executive Regulations and Standards" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63484.pdf Paper Url: https://www.ijtsrd.com/engineering/civil-engineering/63484/concepts-for-sudan-survey-act-implementations--executive-regulations-and-standards/kamal-a-a-sami
Towards the Implementation of the Sudan Interpolated Geoid Model Khartoum Sta...ijtsrd
The discussions between ellipsoid and geoid have invoked many researchers during the recent decades, especially during the GNSS technology era, which had witnessed a great deal of development but still geoid undulation requires more investigations. To figure out a solution for Sudans local geoid, this research has tried to intake the possibility of determining the geoid model by following two approaches, gravimetric and geometrical geoid model determination, by making use of GNSS leveling benchmarks at Khartoum state. The Benchmarks are well distributed in the study area, in which, the horizontal coordinates and the height above the ellipsoid have been observed by GNSS while orthometric heights were carried out using precise leveling. The Global Geopotential Model GGM represented in EGM2008 has been exploited to figure out the geoid undulation at the benchmarks in the study area. This is followed by a fitting process, that has been done to suit the geoid undulation data which has been computed using GNSS leveling data and geoid undulation inspired by the EGM2008. Two geoid surfaces were created after the fitting process to ensure that they are identical and both of them could be counted for getting the same geoid undulation with an acceptable accuracy. In this respect, statistical operation played an important role in ensuring the consistency and integrity of the model by applying cross validation techniques splitting the data into training and testing datasets for building the geoid model and testing its eligibility. The geometrical solution for geoid undulation computation has been utilized by applying straightforward equations that facilitate the calculation of the geoid undulation directly through applying statistical techniques for the GNSS leveling data of the study area to get the common equation parameters values that could be utilized to calculate geoid undulation of any position in the study area within the claimed accuracy. Both systems were checked and proved eligible to be used within the study area with acceptable accuracy which may contribute to solving the geoid undulation problem in the Khartoum area, and be further generalized to determine the geoid model over the entire country, and this could be considered in the future, for regional and continental geoid model. Ahmed M. A. Mohammed. | Kamal A. A. Sami "Towards the Implementation of the Sudan Interpolated Geoid Model (Khartoum State Case Study)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63483.pdf Paper Url: https://www.ijtsrd.com/engineering/civil-engineering/63483/towards-the-implementation-of-the-sudan-interpolated-geoid-model-khartoum-state-case-study/ahmed-m-a-mohammed
Activating Geospatial Information for Sudans Sustainable Investment Mapijtsrd
Sudan is witnessing an acceleration in the processes of development and transformation in the performance of government institutions to raise the productivity and investment efficiency of the government sector. The development plans and investment opportunities have focused on achieving national goals in various sectors. This paper aims to illuminate the path to the future and provide geospatial data and information to develop the investment climate and environment for all sized businesses, and to bridge the development gap between the Sudan states. The Sudan Survey Authority SSA is the main advisor to the Sudan Government in conducting surveying, mappings, designing, and developing systems related to geospatial data and information. In recent years, SSA made a strategic partnership with the Ministry of Investment to activate Geospatial Information for Sudans Sustainable Investment and in particular, for the preparation and implementation of the Sudan investment map, based on the directives and objectives of the Ministry of Investment MI in Sudan. This paper comes within the framework of activating the efforts of the Ministry of Investment to develop technical investment services by applying techniques adopted by the Ministry and its strategic partners for advancing investment processes in the country. Kamal A. A. Sami "Activating Geospatial Information for Sudan's Sustainable Investment Map" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63482.pdf Paper Url: https://www.ijtsrd.com/engineering/information-technology/63482/activating-geospatial-information-for-sudans-sustainable-investment-map/kamal-a-a-sami
Educational Unity Embracing Diversity for a Stronger Societyijtsrd
In a rapidly changing global landscape, the importance of education as a unifying force cannot be overstated. This paper explores the crucial role of educational unity in fostering a stronger and more inclusive society through the embrace of diversity. By examining the benefits of diverse learning environments, the paper aims to highlight the positive impact on societal strength. The discussion encompasses various dimensions, from curriculum design to classroom dynamics, and emphasizes the need for educational institutions to become catalysts for unity in diversity. It highlights the need for a paradigm shift in educational policies, curricula, and pedagogical approaches to ensure that they are reflective of the diverse fabric of society. This paper also addresses the challenges associated with implementing inclusive educational practices and offers practical strategies for overcoming barriers. It advocates for collaborative efforts between educational institutions, policymakers, and communities to create a supportive ecosystem that promotes diversity and unity. Mr. Amit Adhikari | Madhumita Teli | Gopal Adhikari "Educational Unity: Embracing Diversity for a Stronger Society" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64525.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/education/64525/educational-unity-embracing-diversity-for-a-stronger-society/mr-amit-adhikari
Integration of Indian Indigenous Knowledge System in Management Prospects and...ijtsrd
The diversity of indigenous knowledge systems in India is vast and can vary significantly between different communities and regions. Preserving and respecting these knowledge systems is crucial for maintaining cultural heritage, promoting sustainable practices, and fostering cross cultural understanding. In this paper, an overview of the prospects and challenges associated with incorporating Indian indigenous knowledge into management is explored. It is found that IIKS helps in management in many areas like sustainable development, tourism, food security, natural resource management, cultural preservation and innovation, etc. However, IIKS integration with management faces some challenges in the form of a lack of documentation, cultural sensitivity, language barriers legal framework, etc. Savita Lathwal "Integration of Indian Indigenous Knowledge System in Management: Prospects and Challenges" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63500.pdf Paper Url: https://www.ijtsrd.com/management/accounting-and-finance/63500/integration-of-indian-indigenous-knowledge-system-in-management-prospects-and-challenges/savita-lathwal
DeepMask Transforming Face Mask Identification for Better Pandemic Control in...ijtsrd
The COVID 19 pandemic has highlighted the crucial need of preventive measures, with widespread use of face masks being a key method for slowing the viruss spread. This research investigates face mask identification using deep learning as a technological solution to be reducing the risk of coronavirus transmission. The proposed method uses state of the art convolutional neural networks CNNs and transfer learning to automatically recognize persons who are not wearing masks in a variety of circumstances. We discuss how this strategy improves public health and safety by providing an efficient manner of enforcing mask wearing standards. The report also discusses the obstacles, ethical concerns, and prospective applications of face mask detection systems in the ongoing fight against the pandemic. Dilip Kumar Sharma | Aaditya Yadav "DeepMask: Transforming Face Mask Identification for Better Pandemic Control in the COVID-19 Era" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64522.pdf Paper Url: https://www.ijtsrd.com/engineering/electronics-and-communication-engineering/64522/deepmask-transforming-face-mask-identification-for-better-pandemic-control-in-the-covid19-era/dilip-kumar-sharma
Streamlining Data Collection eCRF Design and Machine Learningijtsrd
Efficient and accurate data collection is paramount in clinical trials, and the design of Electronic Case Report Forms eCRFs plays a pivotal role in streamlining this process. This paper explores the integration of machine learning techniques in the design and implementation of eCRFs to enhance data collection efficiency. We delve into the synergies between eCRF design principles and machine learning algorithms, aiming to optimize data quality, reduce errors, and expedite the overall data collection process. The application of machine learning in eCRF design brings forth innovative approaches to data validation, anomaly detection, and real time adaptability. This paper discusses the benefits, challenges, and future prospects of leveraging machine learning in eCRF design for streamlined and advanced data collection in clinical trials. Dhanalakshmi D | Vijaya Lakshmi Kannareddy "Streamlining Data Collection: eCRF Design and Machine Learning" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63515.pdf Paper Url: https://www.ijtsrd.com/biological-science/biotechnology/63515/streamlining-data-collection-ecrf-design-and-machine-learning/dhanalakshmi-d
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
2. International Journal of Trend in Scientific Research and Development @ www.ijtsrd.com eISSN: 2456-6470
@ IJTSRD | Unique Paper ID – IJTSRD47499 | Volume – 5 | Issue – 6 | Sep-Oct 2021 Page 806
strengths and neutralize their weaknesses in their
course of strategic choices in different industry
contexts
2. Literature review
Small business
The term Small Business is defined in different
contexts differently. Many authors give a quantitative
definition in terms of number of employees, capital,
turnover etc.
Many governments also have similar ‘statistical’
definition of Small Business for administrative
purposes. “Some use number of employees, some
turnover, some capital employed ‘variously defined’,
and some a combination of all three. Risking a broad
generalization, one may say, however, that in Europe
small firms are those with less than 200 employees
and medium-sized firms are those with 200-500
employees. In the US, all firms employing up to 500
employees are regarded as small.”
Thus there is lack of consensus as what a small
business is. This lack of consensus is due mainly to
the environment where the term is applied. When
talking in statistical terms, I think it is apparent that
the whole environment is taken into account and the
size is measured in relation to the totality of actors in
the given economy. In the small economies of many
developing countries, it is very rare to find a firm
employing 500 people. If there is one or few, then
they should be ‘giants’ in that context and we cannot
regard them as small simply adopting the statistical
definition of the US where to have firms with tens of
thousands of employees is not uncommon.
Businesses are also categorized under Small-and-
Medium-Sized (SMEs) in which also the size varies
from country to country. Many authors also classify
businesses under micro, small, and medium
enterprises
The other way of looking at the concept of Small
Business is to take qualitative factors and to describe
it in relative terms. Even listing the qualitative
specifications is not easy and differs from county to
country. Mengisteab gives a list (but not exhaustive)
of the general qualitative specifications in defining
SMEs. The use of general qualitative specification
that can be used in different circumstances would
give a better understanding of the concept. For this
reason, I would take the following definition of Small
Business as presented in the book by Hunger and
Wheelen quoting the United States Small Business
Administration. Hence, “A Small Business is one
which is independently owned and operated, and
which is not dominant in its field of operation.”
From such arguments it is clear that the definition for
small business is not easy and is dependent on various
contexts. It should be clear that in making any
specific study on small business in a given context,
one should take a working definition appropriate for
that particular context (industry and country) as
developed by relevant references (trade and business
government authorities, or similar bodies).
Management Process and Decision Behavior in Small
Firms
The management process in small firms is not the
same as that of large ones. It bears little or no
resemblance to management processes found in larger
organizations. In managing their resources towards
creating competitive advantage, small firms make use
of their unique features (see above) available to them
because of their size, and which are not available in
the larger counterparts. Jennings and Beaver (1997)
described the management processes in small firms to
be adaptive as opposed to the practice in their larger
counterparts, which they described as predictive.
In the larger organizations competitive advantage is
often created deliberately as a result of the pursuit of
explicit policies designed to minimize operating costs
and/or achieve product/service differentiation.
Consequently strategic management becomes
primarily a predictive process concerned with the
clarification and communication of long-term
objectives and the feedback of information to indicate
successful or unsuccessful achievement of pre-
determined goals.
In contrast, competitive advantage in the smaller firm
often arises accidentally as a result of the particular
operating circumstances surrounding the enterprise.
Here, strategic management becomes primarily an
adaptive process concerned with manipulating a
limited amount of resources, usually in order to gain
the maximum, immediate and short-term advantage.
In the small firm efforts are concentrated not on
predicting and controlling the operating environment
but on adapting as quickly as possible to the changing
demand of that environment and devising suitable
tactics for mitigating the consequences of any
threatening changes which occur.
In the small firms, the management process is
characterized by the highly personalized preferences,
prejudices and attitudes of the firm’s entrepreneur,
owner, and/or owner-manager. Mintzberg described
such organization as having little or no staff, with a
loose division of labor and a small managerial
hierarchy. Little of its activity is formalized, and it
makes minimal use of planning procedures or training
routines.
3. International Journal of Trend in Scientific Research and Development @ www.ijtsrd.com eISSN: 2456-6470
@ IJTSRD | Unique Paper ID – IJTSRD47499 | Volume – 5 | Issue – 6 | Sep-Oct 2021 Page 807
The management process in small firms is also characterized by the nature of power balance and decision
making behavior of the manger(s). According to Mintzberg, in small firms, which he refers them to have a
simple structure, power tends to focus on the chief executive, who exercises a high personal profile. Formal
controls are perceived as a threat to the chief’s flexibility and that the manager drives the organization by sheer
force of personality or by more direct interventions2
. Decision-making is likewise flexible, with a highly
centralized power system allowing for rapid response. Thus the small firm management process cannot be
separated from the personality set and experience of the key role player or players.
Organization structures in small firms, in so far as they exist, are likely to develop around the interests and
abilities of the key role players. Such organization structures are likely to be organic and loosely structured
rather than mechanistic and highly formalized.
The following figure shows the management process in small firms as described by Jennings and Beaver (1997).
The Small Firm Management Process
ENTREPRENEURIAL SKILLS OWNERSHIP SKILLS
(Adaptive & Organic) (Predictive & Mechanistic)
STRATEGIC LEVEL
Innovation Objective Setting
Risk Taking Policy Formulation
Tactical Planning Strategic Planning
COMMON CORE SKILLS
Decision Making
Problem Solving
Information Processing
MANAGERIAL SKILL
Managerial Level
Negotiation Organising
Trouble Shooting Co-ordinating
Inter-personal Communications Formal communication
Monitoring
Stabilizing
Source: Peter Jennings and Graham Beaver (1997)
3. Evaluate the relative strengths and weaknesses of small businesses
The relative strengths of large firms lie mostly in resources, while those of small firms are generally argued in
terms of behavioral characteristics. Small and large firms are likely to play complementary roles in different
aspects, in the sense that they are better at different aspects of a business.
The strengths and weaknesses of small firms can differ from industry to industry. Because of their structure and
management style, small firms, in many contexts, posses resources and capabilities that differ from those of
large firms, and that these differences make small organizations particularly well suited to certain industry
contexts but not others. Small businesses, perhaps because of their speed, flexibility, and niche filling
capabilities will be attracted to and successfully enter industry environments in which these resources provide
the greatest advantage. Large firms may likewise seek environments in which their unique resources will provide
advantage.
David Gadene (1998) quoted a conceptual model by Cragg and King, which involves casual relationships
between various factors and small firm financial performance. The model shows that the main factors directly
affecting financial performance of small businesses are markets in which the firm operates and managerial
practices. These are in turn affected by owner’s characteristics and owner’s objectives.
2
Ibid., P 615
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Factors Influencing Small Business Performance
Source: David Gadenne (1998)
The relative strengths and weaknesses of small (and large) firms being dependent on different contexts, the
following table gives a summarized out look to this end.
Relative Advantages of Small and Large Firms
Small Firms Large Firms
Little bureaucracy
Rapid decision making
Risk taking
Motivated and committed management
Motivated Labor
Rapid and effective internal
Communicational, shorter decision chains
Fast reaction to changing market
Requirements
Can dominate narrow market niches
R&D efficiency
Capacity to customization
Capable of fast learning and adapting
Routines and strategy
Appropriation of rewards from innovation
Through tacitness of knowledge
Formal management skills
Able to control complex organization
Can spread risk over a portfolio of products
Functional expertise in staff functionaries
More specialized labor
Time & resources to establish comprehensive
external Science and Technology networks
Comprehensive distribution and servicing facilities
High market power with existing products
Economies of scale and scope in R&D
Can support the establishment of a
large R&D laboratory
Access to external capital
Better able to fund diversification, synergy
Able to obtain learning curve economies
through investment in production
Capacity for absorption of new
knowledge/technology
Able to erect any barriers
Source: Robert W. Vossen (1998)
4. Strategic choice and management: A small
busines perspective
How firms choose their strategies and what strategies
are more appropriate to which firms is a basic
question. Small businesses, because of their unique
features outlined earlier, need to critically see this
question in their efforts to successfully compete in
their given environments. Existing research on
strategic choice and management mainly deals with
large businesses and study of strategic management in
small businesses is relatively new. Baird, et al. quote
several authors in their work of strategic choices of
small firms and conclude that “strategic choices of
small firms and the factors that influence these
choices are being identified”
As a general rule, a focused (also called niching)
strategy is often advocated as the best suited strategy
to smaller firms. This is mainly because it is these
which have the flexibility to respond quickly to the
specialized needs of small segments. Of the three
strategies proposed by Porter (1985), it appears that
only the “focus” strategy - concentrating on particular
market segment(s), is applicable to small businesses
given their limited resources.
According to Lee Khai et al (1999), for successful
niching, SMEs should supply products that are
substitutable to that of their bigger rivals’ instead of
totally differentiated ones.
Markets in which
Firms Operate
Owner’s
Objectives
Managerial
Practices
Financial
Performance
Owner’s
Characteristics
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Extending the work of Cooper et al (1986) described
by providing a formal game-theoretic explanation as
to what reactions could the small businesses which
practice the niching strategy expect from the bigger
rivals.
Lee Khai et al. (1999) rejected what is seen as
‘conventional’ argument, on why the bigger firms
choose to ignore the niches supplied by the SMEs,
which usually rely on some form of irrationality on
the bigger firms. In their alternative explanations, Lee
Khai et al., put that the bigger firms make a rational
decision to deliberately ignore the niches filled by the
SMEs and to accommodate the entry of the SMEs
into their markets. According to the authors, such a
decision is taken because, just as the SMEs do not
wish to engage in direct competition with the bigger
firms, the latter are similarly motivated. “Direct
competition with the SMEs depresses prices not only
in the market niches, but also in all other market
segments which are currently supplied with
substitutable products by the bigger firms. The loss in
margins, and hence profits, to the bigger firms in
these other segments can be sufficiently large such
that they prefer to adopt a ‘live and let live’ attitude
towards the SMEs which choose to supply the market
niches3
.
When the bigger rivals choose to fight, and not to
ignore, the SMEs’ entry into their markets despite the
high cost of such actions, (the bigger firms are willing
to take such costly actions if they perceive that, by
using their vast financial resources, there is a good
chance that they would succeed in driving out the
SMEs from their markets), Lee Khai et al propose
that SMEs should signal that they are committed to
stay in the market, and that any aggressive
competitive actions taken by the bigger rivals will
only result in protracted competition to the detriment
of all parties. In order for the signal to be credible, the
authors suggest that SMEs form strategic alliances to
overcome their disadvantages against their bigger
rivals. The increase in resources and/or gain in
competitive advantages, accruing from the strategic
alliance serves to signal to the bigger rivals the
SMEs’ ability to defend their turf and their
commitment to the market. This therefore deters the
bigger rivals from contemplating aggressive
campaigns in the first place, and even forces them to
accommodate the presence of the SMEs in their
markets instead, the authors concluded.
3
Lee Khai S. et al. Dealing with Resource Disadvantage:
Generic Strategies for SMEs Small Business Economics,
June 99, Vol. 12 Issue 4. P.300.
Baird et al. also explain that the strategic options
available to the small business can be followed by
acting independently (competitive strategies) or by
acting cooperatively with other firms (cooperative
strategies). According to the authors, though
cooperative strategies are not frequently adopted by
small firms, such arrangements are a good mode of
commercializing products in foreign markets and
overcoming resource scarcity.
A low cost leadership position is also possible for
small businesses. This comes from two major factors:
(1) cost consciousness, where cost is always a
prominent consideration in decisions for items like
travel, equipment and supplies; and (2) adaptability to
market conditions, where key cost components -- like
inventory -- can be adjusted rapidly depending upon
demand or supply for a business' products or services.
5. Conclusion
The main feature of strategic management in small
businesses, which can be regarded as unique, is the
way it is developed and managed (implemented). This
in turn has to do with the ownership structure and
management process in small businesses. Strategic
management in small businesses is enacted in a
highly personalized manner and is strongly influenced
by the personality, disposition, experience and ability
of the entrepreneur/ owner-manager.
The analysis of strategic management in small
businesses as a topic is too general to lead to concrete
and specific results, and can be discussed only at
theoretical level. As the concept, definition and nature
of small businesses differ from environment to
environment and from industry to industry, so will the
study and analysis about them. In practice, in addition
the need to be specific to a firm’s business
environment, one needs to carefully look at the
specific nature of the industry, in which the small
business operates in order to come up with relevant
arguments as to how such firms [should] behave in
their course of strategic management. Each industry
has its own unique features to affect the choice and
management of small business strategy.
The study of strategic management in small
businesses is the search for the dynamics of
interactions between various factors influencing the
practice, including the firms’ owner’s or
entrepreneur’s objectives and characteristics,
managerial practices, nature of industry, markets and
their competitive structure, and so on. Lack of
adequate resources to push further with an already
established strategy is an impediment for small
businesses, and this may force them to abandon the
route when confronted with a threat, mainly a bigger
rival, and look for alternatives, unless they have some
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means to confront or challenge the rival. On the other
hand, the ownership structure and decision making
behavior in small businesses allow them to act swiftly
and to seize emerging opportunities, and thus to be
much better efficient and effective.
As has been indicated earlier the question of which
strategic options result in optimal small firm
performance has been addressed but not resolved.
Moreover, much of the research on the strategic
management of small firms has dealt with the
formality of strategic planning rather than the content
of the strategies or reasons for their adoption.
However, strategic choices of small firms and the
factors that influence these choices are being
identified. The strategic options available to the small
business are not limited, and can vary from industry
to industry and from context to context. The generic
strategies, Cost leadership, Differentiation, and Focus
are applicable to small businesses. Unlike in the
larger businesses, in selecting any strategy, small
businesses need to pay special attention to the
possible reaction especially from the larger rivals, and
the way of handling such reactions, as this is the way
to sustain any competitive advantage gained for a
fairly long time.
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