This document outlines a lecture on strategic management and strategy execution. It discusses the transition from strategy formulation to implementation, explaining that implementation requires operational changes and coordination. Annual objectives and clear policies are essential to effective implementation by establishing priorities, boundaries, and accountability. Resource allocation and managing conflicts between organizational units are also part of implementation. The lecture notes that an organization's structure should match its strategy to facilitate objective-setting and resource distribution. Finally, production, operations, and human resource issues are strategic considerations for successful implementation.
A profit strategy is one that capitalizes on a situation in which old and obsolete product or technology is being replaced by a new one. This type of strategy does not require new investment, so it is not a growth strategy. Firms adopting this strategy decide to follow the same technology, at least partially, while transiting into new technological domains.
What is a Strategy? Michael Porter - Harvard Business ReviewDonny Sitompul
What is Strategy
Operational Effectiveness Is Not Strategy
Strategy Rests on Unique Activities
A Sustainable Strategic Position Requires Trade-offs
Fit Drives Both Competitive Advantage and Sustainability
Rediscovering Strategy
Growth Strategy refers to a strategic plan formulated and implemented for expanding firm’s business. This can be done in various ways described in the presenation
Scott droney - strategic planning and strategic managementScott Droney
Scott Droney is provide financial services spectrum as well as data processing and managing segments. Since most of its financial services were retail focused, the need to build scale and skill in the transaction processing domain became imperative.
A profit strategy is one that capitalizes on a situation in which old and obsolete product or technology is being replaced by a new one. This type of strategy does not require new investment, so it is not a growth strategy. Firms adopting this strategy decide to follow the same technology, at least partially, while transiting into new technological domains.
What is a Strategy? Michael Porter - Harvard Business ReviewDonny Sitompul
What is Strategy
Operational Effectiveness Is Not Strategy
Strategy Rests on Unique Activities
A Sustainable Strategic Position Requires Trade-offs
Fit Drives Both Competitive Advantage and Sustainability
Rediscovering Strategy
Growth Strategy refers to a strategic plan formulated and implemented for expanding firm’s business. This can be done in various ways described in the presenation
Scott droney - strategic planning and strategic managementScott Droney
Scott Droney is provide financial services spectrum as well as data processing and managing segments. Since most of its financial services were retail focused, the need to build scale and skill in the transaction processing domain became imperative.
Corporate Strategy or Strategic Management
Concepts and Cases by Fred R. David,
Francis Marion University, Florence, South Carolina, &
Forest R. David,
Strategic Planning Consultant
ORIGINAL WORK ONLY. APA FORMAT WITH ABSTRACT AND REFERENCES. BELOW.docxjohnbbruce72945
ORIGINAL WORK ONLY. APA FORMAT WITH ABSTRACT AND REFERENCES. BELOW IS THE ASSIGNMENT AND READING NOTES
Strategic Audit (Assignment)
The strategic audit system is a diagnostic tool to pinpoint an organization’s strengths and weaknesses. Use the Strategic Analysis Framework and other tools in order to conduct a strategic audit.
You might consider using a SWOT analysis for both companies to analyze each of their situations.
For this assignment, a mini strategic audit will be conducted for two companies with an overall goal to compare how each company differs in the strategy management and implementation, while identifying the importance of strategic management.
•Conduct a Strategic Audit on two companies of your choice that are within the same industry. During this audit, you will be comparing each company, to do so be sure to create a SWOT analysis for each company.
•In addition, visit each company’s website and conduct research to identify key strategies that each company has. List a brief introduction of each company, to include the Mission Statement and compare key aspects of each company.
•Be sure to include the concepts identified in the readings for this week's topics.
The requirements below must be met for your paper to be accepted and graded:
•Write between 850 – 1,250 words (approximately 3 – 5 pages) using Microsoft Word in APA style, see example below.
•Use font size 12 and 1” margins.
•Include cover page and reference page.
•At least 80% of your paper must be original content/writing.
•No more than 20% of your content/information may come from references.
•Use at least three references from outside the course material, one reference must be from EBSCOhost. Text book, lectures, and other materials in the course may be used, but are not counted toward the three reference requirement.
•Cite all reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) in the paper and list on a reference page in APA style.
References must come from sources such as, scholarly journals found in EBSCOhost, CNN, online newspapers such as, The Wall Street Journal, government websites, etc. Sources such as, Wikis, Yahoo Answers, eHow, blogs, etc. are not acceptable for academic writing.
READING
Role of Strategy
The focus of this lecture will be on the concepts of strategic management, the framework for strategy analysis and the link between strategy and the industry environment.
The Concept of Strategy
Key questions to consider:
1.Why are decisions important?
2.What is strategic management?
3.Why has strategic management become so important to today’s corporations?
Strategic Management is described as a set of managerial decisions and actions that determines the long-run performance of a corporation. It includes environmental scanning (both external and internal), strategy formulation (strategic or long-range planning), strategy implementation, and evaluation and control.
Importance of Strategic Managem.
STRATEGIC MANAGEMENT
Module 5 FUNCTIONAL & OPERATIONAL IMPLEMENTATION
By Jayanti Pande
RTMNU Nagpur university MBA Sem 3
Free Notes By Jayanti Pande
#JRPNotes
#JayantiPandeNotes
MBA Free notes pdf download
JRP Notes pdf
Free JRP notes
After completion of this seminar audience will be able to know:
What is HRM Model?
Why we need to design HRM Model?
Importance and focus of each HRM Model;
Being HR professional, what would be the Negative consequences if we don’t know about HRM Models?
Oprah Winfrey: A Leader in Media, Philanthropy, and Empowerment | CIO Women M...CIOWomenMagazine
This person is none other than Oprah Winfrey, a highly influential figure whose impact extends beyond television. This article will delve into the remarkable life and lasting legacy of Oprah. Her story serves as a reminder of the importance of perseverance, compassion, and firm determination.
The case study discusses the potential of drone delivery and the challenges that need to be addressed before it becomes widespread.
Key takeaways:
Drone delivery is in its early stages: Amazon's trial in the UK demonstrates the potential for faster deliveries, but it's still limited by regulations and technology.
Regulations are a major hurdle: Safety concerns around drone collisions with airplanes and people have led to restrictions on flight height and location.
Other challenges exist: Who will use drone delivery the most? Is it cost-effective compared to traditional delivery trucks?
Discussion questions:
Managerial challenges: Integrating drones requires planning for new infrastructure, training staff, and navigating regulations. There are also marketing and recruitment considerations specific to this technology.
External forces vary by country: Regulations, consumer acceptance, and infrastructure all differ between countries.
Demographics matter: Younger generations might be more receptive to drone delivery, while older populations might have concerns.
Stakeholders for Amazon: Customers, regulators, aviation authorities, and competitors are all stakeholders. Regulators likely hold the greatest influence as they determine the feasibility of drone delivery.
The Team Member and Guest Experience - Lead and Take Care of your restaurant team. They are the people closest to and delivering Hospitality to your paying Guests!
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Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI.
Senior Project and Engineering Leader Jim Smith.pdfJim Smith
I am a Project and Engineering Leader with extensive experience as a Business Operations Leader, Technical Project Manager, Engineering Manager and Operations Experience for Domestic and International companies such as Electrolux, Carrier, and Deutz. I have developed new products using Stage Gate development/MS Project/JIRA, for the pro-duction of Medical Equipment, Large Commercial Refrigeration Systems, Appliances, HVAC, and Diesel engines.
My experience includes:
Managed customized engineered refrigeration system projects with high voltage power panels from quote to ship, coordinating actions between electrical engineering, mechanical design and application engineering, purchasing, production, test, quality assurance and field installation. Managed projects $25k to $1M per project; 4-8 per month. (Hussmann refrigeration)
Successfully developed the $15-20M yearly corporate capital strategy for manufacturing, with the Executive Team and key stakeholders. Created project scope and specifications, business case, ROI, managed project plans with key personnel for nine consumer product manufacturing and distribution sites; to support the company’s strategic sales plan.
Over 15 years of experience managing and developing cost improvement projects with key Stakeholders, site Manufacturing Engineers, Mechanical Engineers, Maintenance, and facility support personnel to optimize pro-duction operations, safety, EHS, and new product development. (BioLab, Deutz, Caire)
Experience working as a Technical Manager developing new products with chemical engineers and packaging engineers to enhance and reduce the cost of retail products. I have led the activities of multiple engineering groups with diverse backgrounds.
Great experience managing the product development of products which utilize complex electrical controls, high voltage power panels, product testing, and commissioning.
Created project scope, business case, ROI for multiple capital projects to support electrotechnical assembly and CPG goods. Identified project cost, risk, success criteria, and performed equipment qualifications. (Carrier, Electrolux, Biolab, Price, Hussmann)
Created detailed projects plans using MS Project, Gant charts in excel, and updated new product development in Jira for stakeholders and project team members including critical path.
Great knowledge of ISO9001, NFPA, OSHA regulations.
User level knowledge of MRP/SAP, MS Project, Powerpoint, Visio, Mastercontrol, JIRA, Power BI and Tableau.
I appreciate your consideration, and look forward to discussing this role with you, and how I can lead your company’s growth and profitability. I can be contacted via LinkedIn via phone or E Mail.
Jim Smith
678-993-7195
jimsmith30024@gmail.com
2. Objectives of the lecture
After completion of this lecture students will be able to know:
1. Describe the transition from formulating to implementing strategies
2. Why annual objectives are essential for effective strategy implementation.
3. Six reasons why policies are essential for effective strategy implementation.
4. Role of resource allocation and managing conflict in strategy
implementation.
5. Discuss the need to match a firm’s structure with its strategy.
2
3. Outline of the lecture
Topic 1 : Describe the transition from formulating to implementing strategies
Topic 2 : Why annual objectives are essential for effective strategy implementation.
Topic 3 : Why policies are essential for effective strategy implementation.
Topic 4 : Role of resource allocation and managing conflict in strategy implementation.
Topic 5 : Discuss the need to match a firm’s structure with its strategy.
Topic 6 : Identify, diagram, and discuss seven different types of organizational structure.
Topic 7 : Identify and discuss fifteen dos and don’ts in constructing organizational charts.
Topic 8 : Four strategic productions issues vital for successful strategy implementation.
3
4. Transitioning from Formulation Implementation
• Successful strategy formulation does not guarantee successful strategy
implementation.
• Strategy implementation is difficult than strategy formulation
• linked, strategy implementation is fundamentally different from
strategy formulation.
• Implementing strategies requires such actions as altering sales
territories, adding new departments, closing facilities, hiring new, etc.
4
5. Formulation Vs. Implementation
5
Formulation Implementation
Position forces before the action Manage forces during the action
Focus is on effectiveness Focus is on efficiency
Primarily an intellectual process Primarily an operational process
Requires good intuitive and analytical skills Requires special motivation and leadership
skills
Requires coordination among a few
individuals
Requires coordination among many
individuals
A science with tools and techniques An art to energize people
6. The Need for Clear Annual Objectives
Annual objectives are essential for strategy implementation for reasons;
1. They represent the basis for allocating resources.
2. They are a primary mechanism for evaluating managers.
3. They enable effective monitoring of progress toward achieving long-
term objectives.
4. They establish organizational, divisional, and departmental priorities.
5. They are essential for keeping a strategic plan on track.
6
7. The Need for Clear Policies
1. Policies set boundaries, constraints, and limits on the kinds of administration.
2. Policies let both employees and managers know what is expected of them,
3. Policies provide a basis for management control and allow coordination across
organizational units.
4. Policies reduce the amount of time managers spend making decisions.
5. Policies promote delegation of decision making to appropriate managerial
levels where various problems usually arise.
6. Policies clarify what can and cannot be done.
7
8. Allocation of Resources
Types of Resources;
1. financial resources,
2. Physical resources,
3. Human resources, and
4. Technological resources.
Distributing an organization’s “assets” across products, regions, and
segments according to priorities established by annual objectives.
8
9. Managing Conflict
9
• Differences of opinion, turf protection, and competition for limited
resources can inevitably lead to conflict.
• Disagreement between two or more parties on one or more issues.
• Establishing annual objectives can lead to conflict because individuals
have different expectations, perceptions, schedules, pressures,
obligations, and personalities.
• Avoidance, Diffusion and Confrontation
10. Match Structure with Strategy
Strategy often require changes in the way an organization is structured, for
two major reasons.
1. Structure largely dictates how objectives and policies will be established.
2. Structure dictates how resources will be allocated. If an organization’s
structure is based on customer groups, then resources will be allocated
in that manner.
Strategic Business Unit
10
11. Types of Organizational Structure
There are seven basic types of organizational structure:
• Functional,
• Divisional by geographic area, Divisional by product, Divisional by
customer, Divisional by process,
• Strategic business unit (SBU), and Matrix.
• Companies, strive to be better organized/structured than rivals
11
12. Strategic Production/ operations Issues
• Production/operations capabilities, limitations, and policies have
contribution in objectives achievement.
• Thus, a major part of the strategy-implementation process takes place
at the production site.
• SP Decisions; Plant size, plant location, product design, choice of
equipment, kind of tooling, size of inventory, inventory control, quality
control, cost control, use of standards, job specialization, etc
12
13. Strategic Production/ operations Issues
Four production/operations issues;
1. Restructuring/reengineering,
2. Managing resistance to change,
3. Deciding where/how to produce goods, and
4. Managing an ESOP
13
14. Strategic Human Resource Issues
• Any organization is only as good as its people! Thus, human resource
issues can make or break successful strategy implementation.
• HR Issues are; Linking performance and pay to strategy, Balancing work
life with home life, Developing a diverse work force, Using caution in
hiring a rival’s employees, creating a strategy-supportive culture, Using
caution in monitoring employees’ social media, and developing a
corporate wellness program
14
15. Conclusion
• Successful strategy formulation does not at all guarantee successful strategy
implementation.
• In a single word, strategy implementation means change.
• It is widely agreed that the real work begins after strategies are formulated.
• Successful strategy implementation requires the support of, as well as discipline
and hard work, from motivated managers and employees.
• Formulating the right strategies is not enough because managers and employees
must be motivated to implement those strategies.
15
16. References
1. Strategic Management Concepts and Cases Sixteen Edition by
Fred R. David.
2. Fundamental of Business Management Process by Marlon
Dumas and Jan Mandelling.
16
Editor's Notes
Implementing strategies requires such actions as altering sales territories, adding new departments, closing facilities, hiring new employees, changing an organization’s pricing strategy, developing financial budgets, developing new employee benefits, establishing cost-control procedures, changing advertising strategies, building new facilities, training new employees,
Avoidance includes such actions as ignoring the problem in hopes that the conflict will resolve itself or physically separating the conflicting individuals (or groups). Defusion can include playing down differences between conflicting par- ties while accentuating similarities and common interests, compromising so that there is neither a clear winner nor loser, resorting to majority rule, appealing to a higher authority, or redesigning present positions. Confrontation is exemplified by exchanging members of conflicting parties so that each can gain an appreciation of the other’s point of view or holding a meeting at which conflicting parties present their views and work through their differences.
The second major reason why changes in strategy often require changes in structure is that structure dictates how resources will be allocated. If an organization’s structure is based on cus- tomer groups, then resources will be allocated in that manner. Similarly, if an organization’s structure is set up along functional business lines, then resources are allocated by functional areas. Unless new or revised strategies place emphasis in the same areas as old strategies, struc- tural reorientation commonly becomes a part of strategy implementation.