This document discusses strategic control and crisis management. It outlines a 5-step process for strategic control: 1) determining the focus of control, 2) establishing standards/benchmarks, 3) measuring performance, 4) comparing performance to benchmarks, and 5) taking corrective action if needed. Strategic control is important for evaluating strategy success/failure and making adjustments. It also discusses the importance of monitoring the external environment and being prepared for crises through planning.
This document provides Iron Mountain's earnings commentary and supplemental information for the third quarter of 2015. Some key highlights include:
- Constant dollar total revenue growth was 2.0% for the quarter and 2.1% year-to-date, driven by storage rental revenue gains offset by service revenue declines.
- Adjusted OIBDA was $228 million for the quarter and $682 million year-to-date, reflecting Transformation program costs. On a constant dollar basis, Adjusted OIBDA increased by 2.3% for the quarter and 1.5% year-to-date.
- The board of directors declared a quarterly dividend increase to $0.485 per share.
Strategic capacity planning for products and services chapter 5mayank272369
The document discusses strategic capacity planning, including defining key terms like capacity, capacity planning, and effective capacity. It outlines the three key questions of capacity planning: what type of capacity is needed, how much is needed, and when is it needed. It also discusses factors that determine effective capacity and ways to measure and evaluate capacity alternatives.
Situational crime prevention in an essay, explain how situationalmayank272369
This document provides an overview of operations management as taught in a university module. It defines operations management as managing the processes, systems and resources involved in production and delivery of products and services. The summary discusses the core textbook for the module, key topics covered like operations strategy, performance and improvement. It also outlines what an operations manager's responsibilities include like business planning, resource planning, quality control and logistics.
This chapter discusses strategy evaluation, review, and control. It outlines several frameworks for evaluating strategy, including Rummelt's four criteria of consonance, consistency, feasibility, and advantage. It also discusses the balanced scorecard approach and measuring organizational performance both quantitatively using financial ratios and qualitatively. Challenges to modern strategy evaluation include increased complexity, faster changes, and debates around transparency and top-down vs bottom-up processes.
The Case for a Web Audit: Your 360 Degree Performance ReviewKathy McShea
Why would you want to do a Web audit and what is in it for you? Our Web governance and management audit takes a 360 degree review of your team's performance, putting everyone on the same page and giving you a roadmap to the future.
This presentation is a brief description of the gap analysis, meaning definition of gap analysis, application of gap analysis along with the advantages and disadvantages of gap analysis.This is quite useful for students who need to understand the concept of gap analysis.
An expert proposes using AI, machine learning, and robotic process automation to automate the entire strategic planning process for organizations. Currently, strategic planning is often done poorly on an annual basis with limited and outdated data, resulting in mediocre outcomes. The proposed solution would use algorithms to continuously import, analyze, and interpret large amounts of internal and external data to identify opportunities and recommend strategic responses in real-time. This could provide organizations with faster, more data-driven decision making and a sustainable competitive advantage.
This document provides a strategic review and business plan for Rainkine Thompson Ltd for 2010-2013. It includes an internal and external analysis of the company, identification of key issues and recommendations. A SWOT analysis is presented along with strategic recommendations for organic growth. The business plan outlines strategies for products and services, R&D, sales, marketing, finance, human resources, operations, and internal systems to drive planned profit growth over the period.
This document provides Iron Mountain's earnings commentary and supplemental information for the third quarter of 2015. Some key highlights include:
- Constant dollar total revenue growth was 2.0% for the quarter and 2.1% year-to-date, driven by storage rental revenue gains offset by service revenue declines.
- Adjusted OIBDA was $228 million for the quarter and $682 million year-to-date, reflecting Transformation program costs. On a constant dollar basis, Adjusted OIBDA increased by 2.3% for the quarter and 1.5% year-to-date.
- The board of directors declared a quarterly dividend increase to $0.485 per share.
Strategic capacity planning for products and services chapter 5mayank272369
The document discusses strategic capacity planning, including defining key terms like capacity, capacity planning, and effective capacity. It outlines the three key questions of capacity planning: what type of capacity is needed, how much is needed, and when is it needed. It also discusses factors that determine effective capacity and ways to measure and evaluate capacity alternatives.
Situational crime prevention in an essay, explain how situationalmayank272369
This document provides an overview of operations management as taught in a university module. It defines operations management as managing the processes, systems and resources involved in production and delivery of products and services. The summary discusses the core textbook for the module, key topics covered like operations strategy, performance and improvement. It also outlines what an operations manager's responsibilities include like business planning, resource planning, quality control and logistics.
This chapter discusses strategy evaluation, review, and control. It outlines several frameworks for evaluating strategy, including Rummelt's four criteria of consonance, consistency, feasibility, and advantage. It also discusses the balanced scorecard approach and measuring organizational performance both quantitatively using financial ratios and qualitatively. Challenges to modern strategy evaluation include increased complexity, faster changes, and debates around transparency and top-down vs bottom-up processes.
The Case for a Web Audit: Your 360 Degree Performance ReviewKathy McShea
Why would you want to do a Web audit and what is in it for you? Our Web governance and management audit takes a 360 degree review of your team's performance, putting everyone on the same page and giving you a roadmap to the future.
This presentation is a brief description of the gap analysis, meaning definition of gap analysis, application of gap analysis along with the advantages and disadvantages of gap analysis.This is quite useful for students who need to understand the concept of gap analysis.
An expert proposes using AI, machine learning, and robotic process automation to automate the entire strategic planning process for organizations. Currently, strategic planning is often done poorly on an annual basis with limited and outdated data, resulting in mediocre outcomes. The proposed solution would use algorithms to continuously import, analyze, and interpret large amounts of internal and external data to identify opportunities and recommend strategic responses in real-time. This could provide organizations with faster, more data-driven decision making and a sustainable competitive advantage.
This document provides a strategic review and business plan for Rainkine Thompson Ltd for 2010-2013. It includes an internal and external analysis of the company, identification of key issues and recommendations. A SWOT analysis is presented along with strategic recommendations for organic growth. The business plan outlines strategies for products and services, R&D, sales, marketing, finance, human resources, operations, and internal systems to drive planned profit growth over the period.
The document discusses organization strategy and project selection. It defines key strategic concepts like competitive advantage and strategic intent. It also outlines the strategic management process, which includes reviewing the organizational mission, setting long-range goals and objectives, analyzing strategies to reach objectives, and implementing strategies through projects. The document emphasizes linking projects to the organizational strategy and discusses various financial and non-financial models for project selection and portfolio management.
M&A Integration Best Practices From The Front, What Works and What Doesn’tperegoff
The document discusses best practices for M&A integration from planning stages through post-close operations. It emphasizes the importance of standing up an Integration Management Office to govern the process using work plans, risk mitigation, and change management. The IMO should break the company into value chain teams to drive integration objectives and manage interdependencies along the critical path to completion. Finally, the document examines integration models like status quo, bolt-on, adopt and go, and greenfield that are selected based on each deal's pro forma expectations and goals.
What is Business Performance Management?Corporater
In this presentation on Business Performance Management, you will learn:
• The essentials of Business Performance Management (BPM)
• How to align strategy and tactics using BPM
• About BPM software
You will also gain insights on how to run your business more efficiently by measuring, managing and driving performance.
The document provides an introduction to key concepts in project management including:
- Defining a project, project management, and the differences between projects, programs and portfolios.
- Describing the purpose and types of Project Management Offices (PMOs) and their degree of control.
- Explaining the importance of identifying and managing stakeholders, their needs and expectations to balance competing demands around quality, scope, time and cost.
- Detailing what should be included in a comprehensive project management plan such as objectives, activities, schedule, resources and risks.
- Identifying factors that contribute to project success including executive support, user involvement, clear requirements and reliable estimates.
Strategy review, evaluation, and controlAaqib Sarwar
The document discusses strategy evaluation and control. It provides guidelines for evaluating strategies, including consistency, consonance, feasibility, and competitive advantage. It also discusses measuring organizational performance, taking corrective actions, and characteristics of an effective evaluation system. Contingency planning is important in case key events do not occur as expected. Strategy evaluation is an ongoing process that ensures objectives are being achieved and allows companies to adapt to changing environments.
This document provides an overview of strategic management and its application to MSMEs (micro, small, and medium enterprises). It begins by defining strategic management and outlining the typical strategic management process of assessing, identifying, planning, executing, and evaluating. It then discusses why strategic management is important for organizations. The document also covers various strategic management tools and frameworks, the strategic management process for MSMEs, and provides an example of how strategic management has been applied at Flipkart, a major Indian e-commerce company.
This document provides an overview of strategic management and project management. It defines strategy as a long-term plan to achieve objectives. There are three levels of strategy: corporate, business, and functional. Strategic management is the process of analyzing the environment, formulating strategy, implementing strategy, and evaluating performance. Project management is initiating, planning, executing, controlling, and closing work to achieve goals within constraints. Network analysis and PERT/CPM are techniques to systematically plan and manage projects.
Vodafone Group uses a balanced scorecard approach to manage performance across financial and non-financial perspectives. It has four main strategies: drive operational performance to enhance customer value; pursue growth in mobile data, broadband, and enterprise services; execute in emerging markets through low-cost offerings; and strengthen capital discipline to drive shareholder returns through cost efficiency programs. Key performance indicators are tracked across four perspectives: customer, financial, internal processes, and learning/growth. This balanced approach helps Vodafone make strategic decisions and continuously improve performance.
This presentation presents the Strategy Execution Agenda – a management model with eight strategy implementation success factors that allows executives and managers to master one of the greatest management challenges – successfully implementing strategy.
The document discusses strategic monitoring systems. It defines strategic as relating to plans to achieve major goals and monitoring as observing progress over time. A strategic monitoring system is an interconnected set of processes to regularly measure a project's progress by observing and recording activities and providing feedback. It helps ensure plans are on track by identifying key variables to track, monitoring strategies and the environment, and reassessing strategies based on changes. Benefits include taking corrective actions early and linking written plans to operations.
1. The document discusses how to effectively execute corporate strategy by optimizing processes across the strategic planning, portfolio management, project management, and operations lifecycles. It argues that weaknesses in any part of the lifecycle can undermine success.
2. It identifies common issues that arise in each part of the lifecycle like unclear objectives, lack of prioritization of investments, project misalignment, and resistance to change. Best practices are outlined to address these issues.
3. The document emphasizes analyzing relationships and information flow across the entire lifecycle. Mapping current processes and systems reveals gaps and duplication that improved coordination and integration can address for more efficient strategy achievement.
Portfolio management involves coordinating organizational change initiatives and ongoing operations to balance strategic objectives. Key differences exist between portfolios, programs, and projects in terms of scope, duration, and alignment with strategy. Effective portfolio management improves resource use, benefits realization, and organizational governance through practices like prioritizing changes, managing dependencies, and ensuring financial and benefit alignment with strategy.
Introduction to Balanced Scorecard - Large Group OrientationGlen Alleman
This document provides an overview of a training session on introducing the balanced scorecard. It discusses:
- The objectives of understanding the motivation for and core elements of a balanced scorecard, and identifying the mission and vision in scorecard terms.
- Some key terms related to performance measurement, management, and scorecards.
- Why organizations implement balanced scorecards, including better strategy understanding and improved processes.
- How to develop a balanced scorecard, including translating mission and vision into strategies and identifying metrics, objectives, and initiatives.
This presentation of my PhD thesis presents the Strategy Execution Framework consisting of 18 success factors related to the process, content and context of the implementation effort. Collectively, these factors help organizations develop and implement their strategies to achieve sustainable organizational success.
This document discusses strategy evaluation and control. It defines strategy evaluation as examining strategy bases, comparing expected vs. actual results, and taking corrective actions. Effective evaluation provides timely feedback and measures performance against objectives. The document outlines criteria for evaluating strategies, including consistency, consonance, feasibility, and competitive advantage. It also discusses measuring performance, taking corrective actions, overcoming resistance to change, and characteristics of an effective evaluation system.
Note on Implementation Strategy -A Harvard Business Review Kenneth R. An...Priyank Jain
This document provides a framework for strategy implementation. It discusses establishing strategic intent, formulating strategies, and implementing and evaluating strategies. Key points of implementation include defining tasks, identifying required skills, and creating "fits" between the strategy and organizational structure, processes, systems, and policies. Different implementation approaches are needed depending on the stage of the organization and situation. Misfits can arise from environmental or strategic changes and may be permitted temporarily. The document outlines skills needed for successful implementation including analytical, administrative, leadership, and communication abilities.
The document discusses strategy review, evaluation, and control. It provides an overview of the strategic management model and covers key aspects of strategy evaluation including reviewing the underlying bases of strategy, measuring firm performance, and taking corrective actions if needed. The document also discusses characteristics of an effective evaluation system and the importance of contingency planning and auditing in the evaluation process.
Business Performance Management - Business Intelligence for ManagersJoão Gretzitz
Performance management originated in the late 1970s and refers to a set of management processes that help organizations improve strategy execution, decision-making, and performance. It involves defining strategic objectives, measuring performance, analyzing results, and aligning people and culture. More advanced approaches integrate performance management with other key processes like financial planning, project management, and risk management to create a holistic view of organizational performance. Technology solutions can help organizations systematically manage performance through integrated data, analytics, and applications.
[Whitepaper] The Definitive Guide to Strategic Planning: Here’s What You Need...Flevy.com Best Practices
More Information:
https://flevy.com/browse/flevypro/best-practices-in-strategic-planning-2738
For many organizations, this is the time of the year is when Leadership will conduct the annual Strategic Planning process and plan the near-, mid- and long-term strategies.
This article breaks the full Strategic Planning and Execution processes into 3 sections:
Strategic Planning
Strategy Development
Strategy Execution
For each section, we will highlight important concepts core to the topic, as well as direct you to important resources for further understanding.
1. Strategic Planning
Per Wikipedia, we can define Strategic Planning as:
Strategic Planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy. Strategic Planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the environment in which it competes.
Strategic Planning is a crucial process, but often poorly executed, leading to poor translation from Strategy to Execution.
In most organizations, executives complain that their Strategic Planning is overly bureaucratic, insufficiently insightful, and doesn’t accommodate today’s rapidly changing, digital markets. To combat these issues, there are a few best practices we should follow:
Explore Strategy across 3 time horizons.
Encourage productive and stimulating Strategic Dialogue.
Engage a broad, decentralized group of stakeholders.
Let’s dive a little deeper into each of these best practices.
Explore
The 3 time horizons we want to explore can be defined as short term (1-year timeframe), medium term (3–5 years timeframe), and long term (5+ years). Each horizon is uniquely considered and has different objectives.
This document discusses strategy evaluation and review. It outlines the importance of evaluating strategy on an ongoing basis to ensure it remains relevant given changes in the internal and external environment. It describes evaluating strategy by reviewing its underlying bases, measuring organizational performance against plans, and taking corrective actions if needed. Key aspects of effective evaluation discussed include using both quantitative financial metrics and qualitative assessments, generating timely and useful information, and engaging in contingency planning to prepare for favorable and unfavorable events.
This document discusses strategic management and the strategic management process. It defines strategic management as the process of integrating organizational functions and resources to implement strategies that are aligned with the environment to achieve long-term objectives and gain a competitive advantage. The strategic management process consists of four stages: environmental analysis, strategy formulation, strategy implementation, and strategy evaluation and control. Strong leadership is critical to successfully guiding an organization through strategic change and the implementation of strategies.
The document discusses strategic evaluation and its importance. Strategic evaluation involves collecting information to assess how well a strategic plan is progressing against its goals. It examines the bases of a firm's strategy, compares expected to actual results, and identifies corrective actions. Strategic evaluation is beneficial for organizations of all sizes as it provides feedback for future decisions and assesses performance relative to goals. Common techniques for strategic evaluation include gap analysis, SWOT analysis, PEST analysis, and benchmarking.
The document discusses organization strategy and project selection. It defines key strategic concepts like competitive advantage and strategic intent. It also outlines the strategic management process, which includes reviewing the organizational mission, setting long-range goals and objectives, analyzing strategies to reach objectives, and implementing strategies through projects. The document emphasizes linking projects to the organizational strategy and discusses various financial and non-financial models for project selection and portfolio management.
M&A Integration Best Practices From The Front, What Works and What Doesn’tperegoff
The document discusses best practices for M&A integration from planning stages through post-close operations. It emphasizes the importance of standing up an Integration Management Office to govern the process using work plans, risk mitigation, and change management. The IMO should break the company into value chain teams to drive integration objectives and manage interdependencies along the critical path to completion. Finally, the document examines integration models like status quo, bolt-on, adopt and go, and greenfield that are selected based on each deal's pro forma expectations and goals.
What is Business Performance Management?Corporater
In this presentation on Business Performance Management, you will learn:
• The essentials of Business Performance Management (BPM)
• How to align strategy and tactics using BPM
• About BPM software
You will also gain insights on how to run your business more efficiently by measuring, managing and driving performance.
The document provides an introduction to key concepts in project management including:
- Defining a project, project management, and the differences between projects, programs and portfolios.
- Describing the purpose and types of Project Management Offices (PMOs) and their degree of control.
- Explaining the importance of identifying and managing stakeholders, their needs and expectations to balance competing demands around quality, scope, time and cost.
- Detailing what should be included in a comprehensive project management plan such as objectives, activities, schedule, resources and risks.
- Identifying factors that contribute to project success including executive support, user involvement, clear requirements and reliable estimates.
Strategy review, evaluation, and controlAaqib Sarwar
The document discusses strategy evaluation and control. It provides guidelines for evaluating strategies, including consistency, consonance, feasibility, and competitive advantage. It also discusses measuring organizational performance, taking corrective actions, and characteristics of an effective evaluation system. Contingency planning is important in case key events do not occur as expected. Strategy evaluation is an ongoing process that ensures objectives are being achieved and allows companies to adapt to changing environments.
This document provides an overview of strategic management and its application to MSMEs (micro, small, and medium enterprises). It begins by defining strategic management and outlining the typical strategic management process of assessing, identifying, planning, executing, and evaluating. It then discusses why strategic management is important for organizations. The document also covers various strategic management tools and frameworks, the strategic management process for MSMEs, and provides an example of how strategic management has been applied at Flipkart, a major Indian e-commerce company.
This document provides an overview of strategic management and project management. It defines strategy as a long-term plan to achieve objectives. There are three levels of strategy: corporate, business, and functional. Strategic management is the process of analyzing the environment, formulating strategy, implementing strategy, and evaluating performance. Project management is initiating, planning, executing, controlling, and closing work to achieve goals within constraints. Network analysis and PERT/CPM are techniques to systematically plan and manage projects.
Vodafone Group uses a balanced scorecard approach to manage performance across financial and non-financial perspectives. It has four main strategies: drive operational performance to enhance customer value; pursue growth in mobile data, broadband, and enterprise services; execute in emerging markets through low-cost offerings; and strengthen capital discipline to drive shareholder returns through cost efficiency programs. Key performance indicators are tracked across four perspectives: customer, financial, internal processes, and learning/growth. This balanced approach helps Vodafone make strategic decisions and continuously improve performance.
This presentation presents the Strategy Execution Agenda – a management model with eight strategy implementation success factors that allows executives and managers to master one of the greatest management challenges – successfully implementing strategy.
The document discusses strategic monitoring systems. It defines strategic as relating to plans to achieve major goals and monitoring as observing progress over time. A strategic monitoring system is an interconnected set of processes to regularly measure a project's progress by observing and recording activities and providing feedback. It helps ensure plans are on track by identifying key variables to track, monitoring strategies and the environment, and reassessing strategies based on changes. Benefits include taking corrective actions early and linking written plans to operations.
1. The document discusses how to effectively execute corporate strategy by optimizing processes across the strategic planning, portfolio management, project management, and operations lifecycles. It argues that weaknesses in any part of the lifecycle can undermine success.
2. It identifies common issues that arise in each part of the lifecycle like unclear objectives, lack of prioritization of investments, project misalignment, and resistance to change. Best practices are outlined to address these issues.
3. The document emphasizes analyzing relationships and information flow across the entire lifecycle. Mapping current processes and systems reveals gaps and duplication that improved coordination and integration can address for more efficient strategy achievement.
Portfolio management involves coordinating organizational change initiatives and ongoing operations to balance strategic objectives. Key differences exist between portfolios, programs, and projects in terms of scope, duration, and alignment with strategy. Effective portfolio management improves resource use, benefits realization, and organizational governance through practices like prioritizing changes, managing dependencies, and ensuring financial and benefit alignment with strategy.
Introduction to Balanced Scorecard - Large Group OrientationGlen Alleman
This document provides an overview of a training session on introducing the balanced scorecard. It discusses:
- The objectives of understanding the motivation for and core elements of a balanced scorecard, and identifying the mission and vision in scorecard terms.
- Some key terms related to performance measurement, management, and scorecards.
- Why organizations implement balanced scorecards, including better strategy understanding and improved processes.
- How to develop a balanced scorecard, including translating mission and vision into strategies and identifying metrics, objectives, and initiatives.
This presentation of my PhD thesis presents the Strategy Execution Framework consisting of 18 success factors related to the process, content and context of the implementation effort. Collectively, these factors help organizations develop and implement their strategies to achieve sustainable organizational success.
This document discusses strategy evaluation and control. It defines strategy evaluation as examining strategy bases, comparing expected vs. actual results, and taking corrective actions. Effective evaluation provides timely feedback and measures performance against objectives. The document outlines criteria for evaluating strategies, including consistency, consonance, feasibility, and competitive advantage. It also discusses measuring performance, taking corrective actions, overcoming resistance to change, and characteristics of an effective evaluation system.
Note on Implementation Strategy -A Harvard Business Review Kenneth R. An...Priyank Jain
This document provides a framework for strategy implementation. It discusses establishing strategic intent, formulating strategies, and implementing and evaluating strategies. Key points of implementation include defining tasks, identifying required skills, and creating "fits" between the strategy and organizational structure, processes, systems, and policies. Different implementation approaches are needed depending on the stage of the organization and situation. Misfits can arise from environmental or strategic changes and may be permitted temporarily. The document outlines skills needed for successful implementation including analytical, administrative, leadership, and communication abilities.
The document discusses strategy review, evaluation, and control. It provides an overview of the strategic management model and covers key aspects of strategy evaluation including reviewing the underlying bases of strategy, measuring firm performance, and taking corrective actions if needed. The document also discusses characteristics of an effective evaluation system and the importance of contingency planning and auditing in the evaluation process.
Business Performance Management - Business Intelligence for ManagersJoão Gretzitz
Performance management originated in the late 1970s and refers to a set of management processes that help organizations improve strategy execution, decision-making, and performance. It involves defining strategic objectives, measuring performance, analyzing results, and aligning people and culture. More advanced approaches integrate performance management with other key processes like financial planning, project management, and risk management to create a holistic view of organizational performance. Technology solutions can help organizations systematically manage performance through integrated data, analytics, and applications.
[Whitepaper] The Definitive Guide to Strategic Planning: Here’s What You Need...Flevy.com Best Practices
More Information:
https://flevy.com/browse/flevypro/best-practices-in-strategic-planning-2738
For many organizations, this is the time of the year is when Leadership will conduct the annual Strategic Planning process and plan the near-, mid- and long-term strategies.
This article breaks the full Strategic Planning and Execution processes into 3 sections:
Strategic Planning
Strategy Development
Strategy Execution
For each section, we will highlight important concepts core to the topic, as well as direct you to important resources for further understanding.
1. Strategic Planning
Per Wikipedia, we can define Strategic Planning as:
Strategic Planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy. Strategic Planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the environment in which it competes.
Strategic Planning is a crucial process, but often poorly executed, leading to poor translation from Strategy to Execution.
In most organizations, executives complain that their Strategic Planning is overly bureaucratic, insufficiently insightful, and doesn’t accommodate today’s rapidly changing, digital markets. To combat these issues, there are a few best practices we should follow:
Explore Strategy across 3 time horizons.
Encourage productive and stimulating Strategic Dialogue.
Engage a broad, decentralized group of stakeholders.
Let’s dive a little deeper into each of these best practices.
Explore
The 3 time horizons we want to explore can be defined as short term (1-year timeframe), medium term (3–5 years timeframe), and long term (5+ years). Each horizon is uniquely considered and has different objectives.
This document discusses strategy evaluation and review. It outlines the importance of evaluating strategy on an ongoing basis to ensure it remains relevant given changes in the internal and external environment. It describes evaluating strategy by reviewing its underlying bases, measuring organizational performance against plans, and taking corrective actions if needed. Key aspects of effective evaluation discussed include using both quantitative financial metrics and qualitative assessments, generating timely and useful information, and engaging in contingency planning to prepare for favorable and unfavorable events.
This document discusses strategic management and the strategic management process. It defines strategic management as the process of integrating organizational functions and resources to implement strategies that are aligned with the environment to achieve long-term objectives and gain a competitive advantage. The strategic management process consists of four stages: environmental analysis, strategy formulation, strategy implementation, and strategy evaluation and control. Strong leadership is critical to successfully guiding an organization through strategic change and the implementation of strategies.
The document discusses strategic evaluation and its importance. Strategic evaluation involves collecting information to assess how well a strategic plan is progressing against its goals. It examines the bases of a firm's strategy, compares expected to actual results, and identifies corrective actions. Strategic evaluation is beneficial for organizations of all sizes as it provides feedback for future decisions and assesses performance relative to goals. Common techniques for strategic evaluation include gap analysis, SWOT analysis, PEST analysis, and benchmarking.
This document discusses strategic control presented by a team. It begins by defining strategic control as selecting organizational strategy and structure, creating control systems to monitor strategic performance, and making corrections. It then discusses strategic control in strategic management, the process of strategic control which involves deciding what to control, setting standards, measuring performance against standards, determining deviations, and taking corrective action. Finally, it discusses types of strategic control like premise, implementation, surveillance and alert controls, and the importance of strategic control for efficiency, quality, innovation and customer responsiveness.
The document discusses strategic management concepts for a private dialysis service provider. It covers strategic planning, linking strategic and operational levels, performance management, growth options, and managing in a competitive environment. Key points discussed include having a strategic focus to guide long-term decisions, analyzing the external environment and internal resources, identifying strategic options, understanding who the different customers are for private clinics versus state-run services, and selecting strategies and making decisions to satisfy all stakeholders.
The document discusses the need for integrated Corporate Performance Management (CPM) across organizations. It outlines the typical performance management cycle of strategy formulation, alignment and execution, measurement and analysis, and review and refinement. It argues that isolated improvements to parts of this cycle often fail and that a principles-based CPM approach is needed to bring systematic and integrated improvements. This approach focuses on best principles like comprehensive planning, disciplined execution and review, information-based decision making, integrated processes, and nimble management to increase strategy effectiveness and execution efficiency.
Strategic planning involves defining objectives, assessing internal/external situations, formulating strategies to achieve objectives, implementing strategies, and evaluating/adjusting as needed. A company conducts an environmental scan including internal/industry/macro analyses. It formulates strategies by matching strengths to opportunities and addressing weaknesses/threats. Implementation involves organizing resources and motivating staff. Evaluation assesses performance and drives adjustments. Strategy occurs at corporate, business unit, and functional levels.
This in our firms' introduction to the concept of the Balanced Scorecard. We use this as part of developing the strategy monitoring and management processes our clients use to insure their strategies stay on track. While this doesn't include our content associated with actually setting up or managing the process, we hope it helps companies who are considering (or struggling with) a BSC implementation.
Business performance measurements have evolved from simply tracking outcomes to also measuring activities, inputs, and supply chains. Recent decades have seen great improvements using methods like Six Sigma and TQM, though now most gains require cost cutting. Three effective measurements for ensuring steady improvement are: 1) Measuring improvement initiatives' effectiveness in achieving their objectives, rather than just headcount reductions or financial targets, 2) Distinguishing between performance and improvement measurements, with improvement focusing on rates of change rather than levels, and 3) Establishing measurements linked to a clear strategy of sustained profitable growth through benchmarking, scorecards, improvement initiatives, innovation, and process management.
The document discusses turnaround strategy, which refers to transforming a loss-making company into a profitable one. It provides definitions of turnaround strategy and discusses:
1) Possible characteristics of companies that need turnarounds like declining revenues and stock prices.
2) The significance of turnaround strategy for troubled companies to restore profitability.
3) Steps in a typical turnaround process including setting up a committee, identifying causes of losses, developing alternative solutions and implementing changes.
4) Stages in a turnaround cycle from management changes to stabilization and returning to growth.
So in summary, the document outlines what a turnaround strategy is, why they are important for troubled companies, and the typical
Page 1 of 2 Capstone Experience in Integration & Strategy .docxalfred4lewis58146
The document discusses undertaking a strategic audit to improve a company's performance. It recommends the following initial steps:
1) Analyze the external environment, including competition, market trends, and changes in customer needs.
2) Evaluate the company's resources and capabilities to determine what is and isn't working given the company's growth.
3) Assess if the company has the right people in the right jobs and make changes if needed.
4) Review the strategic plan and vision to ensure they are aligned with current capabilities.
The document defines SWOT analysis and outlines the 6 steps involved in conducting a SWOT analysis. It begins by defining SWOT analysis as a tool that identifies an organization's strengths, weaknesses, opportunities, and threats. It then lists the 6 steps as: 1) identifying the strategic goal, 2) identifying strengths, 3) identifying weaknesses and threats, 4) analyzing problems, 5) identifying opportunities, and 6) brainstorming strategies to realize opportunities.
The document also defines critical success factors as elements necessary for an organization or project to achieve its mission. It lists the major sources of critical success factors as: industry CSFs, CSFs resulting from competitive strategy, environmental CSFs, and temporal CSFs resulting from internal
This report is about combination of various strategic management theories which has explains by different authors with different viewpoints according to the situations which they are looking at.
Strategic management can be basically describe as a process which analysis the current situation and make strategies which will matches to that. Basically strategic management has three main processes which can name as strategic formulation, implementation and evaluation.
First this report explains about what is strategic management and how it has implemented and how if effects for an organization. Compare to that briefing then the report focus on the theories which has found out to be explain in the journals which has selected to review the strategic management theories.
And then the report contains about the strengths and weaknesses of the each selected strategic management theory. After that it contains about a combination of all the theories which has mention in the report, to fill up the gap of each theory using the strength of the other.
Finally, in the conclusion the report shows the final view of the researcher about the finding throughout the research and the assumption which can make about combination of the strategic management theories and the use of this combination for a better performance.
Vskills manufacturing technology management professional sample materialVskills
Strategic management involves formulating goals and implementing initiatives based on internal and external environmental assessments. There are four phases to strategic management processes: defining vision/mission/objectives, strategy formulation, implementation, and evaluation. Strategic decision making considers opportunities/threats and involves committing resources. Mintzberg identified four strategic decision making modes: entrepreneurial, adaptive, planning, and logical incrementalization. Environmental analysis monitors opportunities/threats in the external environment through continuous scanning.
Strategic evaluation is defined as determining the effectiveness of an organization's strategy in achieving objectives and taking corrective actions. It is the final step in strategic management and involves appraising internal/external factors, measuring performance, and making adjustments. Strategic evaluation is important because it assesses the efficiency and effectiveness of plans in achieving goals. It allows managers to evaluate current strategies in a changing environment. The process involves setting benchmarks, measuring actual performance, analyzing variances, and taking corrective actions. Participants include shareholders, directors, executives, and managers.
Strategic management is an ongoing process that involves evaluating and controlling a company's business and industry, assessing competitors, and setting and reassessing strategies. It entails making high-level decisions that have long-term impacts on a firm. The strategic management process involves planning and analysis, strategy formulation, alternative selection, evaluation, and implementation and control. It aims to achieve efficiency and effectiveness. Strategic decisions are made at the business, functional, and corporate levels.
This document provides an overview of strategic and operational management strategies for educational institutions. It discusses strategic management processes like strategic planning, implementation, evaluation and decision making. It also covers operational management techniques and decision making. Specific topics summarized include the strategic management process, SWOT analysis, benefits of strategic management, strategic decision making and the 7 steps of operational decision making.
The document discusses strategic formulation and execution. It emphasizes that while well-formulated strategies are important, most strategies fail due to poor execution. Effective strategy evaluation is critical and includes reviewing strategy foundations, comparing actual and expected results, and taking corrective actions. Strategy evaluation allows organizations to adapt to changing environments and ensure strategic goals are met.
Similar to Strategic management theory and practicestrategic contro (20)
NEW YORK STATE It is important to identify and develop vario.docxmayank272369
NEW YORK STATE
It is important to identify and develop various strategies to motivate and engage students in science. Review the resources in this week’s topic materials to guide you on how to structure your video.
For this assignment, you will create a video using any video recording device and develop a 2-3 minute Lope Talk video similar to a Ted Talk, in which you will describe ways to engage and motivate students through the instruction of science. This would be presented as a professional development to fellow science teachers. Select a grade level or grade level strand (K-3, 4-5, or 6-8) as you prepare for this video.
Your video should include:
Strategies to engage students through active inquiry within science instruction.
Explanation of engagement strategies to support collaboration and interaction.
Methods to capture and hold the interest of the students.
Two examples of how to incorporate technology.
When creating your video presentation, consider the following:
Design visual elements to emphasize major points
Prepare a presentation outline and a brief script
Design slides for major points
Practice and rehearse
Record your presentation
Add effects and edit as necessary
.
Next, offer your perspective on transparency. In Chapter 3 of th.docxmayank272369
Next, offer your perspective on transparency. In Chapter 3 of their book
Trust and Betrayal in the Workplace
, Reina and Reina suggest that although one might "assume that they are obligated to share only what they need to complete specific tasks or projects" (p.45), this couldn't be further from the truth.
Considering the statement above, discuss why leaders might provide information about their activities and decision making, even when employees may not be directly affected? Do you support this notion? Explain why or why not.
both give and get the information you need to do your job, take responsibility for and learn from your mistakes, and talk through issues and concerns with an eye toward deep understanding and effective resolutions. Trust of Communication helps you create workplace relationships infused with positive energy, a sense of community, and shared purpose.You earn Trust of Communication by practicing six primary behaviors: share information, tell the truth, admit mistakes, give and receive constructive feedback, maintain confidentiality, and speak with good purpose.Behaviors that Contribute to Trust of Communication You need Trust of Communication to develop open, honest inter-actions that will support you and your colleagues in doing your best work. You want trustworthy communication, right? Cultivat-ing it begins with you. Let’s explore how to get it by practicing the six Trust of Communication behaviors.Share Information Do the people you work with willingly provide information to others? Or is information shared on a “need to know” basis? Do you assume you’re obligated to share only what others need to complete specific tasks or projects? Do your bosses or colleagues take this approach with you? Answering these questions requires honesty, both with yourself and with others.Think about how fast the world is moving and how this speed highlights the importance of fluid information flow. You know firsthand how vital information is to you. You can’t be effective without it. You and others need timely information to tie your efforts to your organization’s purpose and strategy.
MLA (Modern Language Assoc.)
Reina, Dennis, and Michelle Reina. Trust and Betrayal in the Workplace : Building Effective Relationships in Your Organization. Vol. 3rd ed, Berrett-Koehler Publishers, 2015.
APA (American Psychological Assoc.)
Reina, D., & Reina, M. (2015). Trust and Betrayal in the Workplace : Building Effective Relationships in Your Organization: Vol. 3rd ed. Berrett-Koehler Publishers.
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New research suggests that the m ost effective executives .docxmayank272369
New research suggests
that the m ost effective executives
use a collection o f distinct leadership styles -
each in the right measure, at just the right time.
Such flexibility is tough to put into action, but it pays
off in performance. And better yet,
it can be learned.
by Daniel Golem an
A sk a n y g r o u p of businesspeople
f —I the question "What do effective
X X leaders do?" and y o u 'll h ear a
sweep of answers. Leaders set strategy;
they motivate; they create a mission; they build a
culture. Then ask "What should leaders do?" If the
group is seasoned, you'll likely hear one response:
the leader's singular job is to get results.
But how? The mystery of what leaders can and
ought to do in order to spark the best performance
from their people is age-old. In recent years, that
mystery has spawned an entire cottage industry:
literally thousands of "leadership experts" have
made careers of testing and coaching executives, all
in pursuit of creating businesspeople who can turn
bold objectives-be they strategic, financial, organi
zational, or all th re e -in to reality.
Still, effective leadership eludes many people and
organizations. One reason is that until recently, vir
tually no quantitative research has demonstrated
EADERSHIP
THAT GETS
ESULTS
which precise leadership behaviors yield
positive results. Leadership experts prof
fer advice based on inference, experience,
and instinct. Sometimes th at advice is
right on target; sometimes it's not.
But new research by the consulting firm Hay/
McBer, which draws on a random sample of 3,871
executives selected from a database of more than
20,000 executives worldwide, takes much of the
mystery out of effective leadership. The research
found six distinct leadership styles, each springing
from different components of em otional in telli
gence. The styles, taken individually, appear to have
a direct and unique impact on the working atmo
sphere of a company, division, or team, and in turn,
on its financial performance. And perhaps most
important, the research indicates that leaders with
the best results do not rely on only one leadership
style,- they use most of them in a given week -seam
lessly and in different m easure-depending on the
78 H A R V A R D B U S I N E S S R E V I E W M a r c h - A p r i l 2 0 0 0
A
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f
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P
A
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L e a d e r s h i p T h a t G ets Res ults
Emotional Intelligence: A Primer
E m o tio n a l i n t e l l i g e n c e - t h e a b ilit y t o m a n a g e o u rs e lv e s a n d o u r re la tio n s h ip s e f f e c t i v e ly -
c o n s is ts o f f o u r fu n d a m e n ta l c a p a b ilitie s : se lf-a w a re n e s s , s e lf-m a n a g e m e n t, s o c ia l a w a re n e ss,
a n d s o cia l s kill. Each c a p a b ility , in t u r n , is c o m p o s e d o f s p e c ific sets o f c o m p e te n c ie s . B e lo w
is a lis t o f t h e c a p a b ilitie s.
NewFCFF2StageTwo-Stage FCFF Discount ModelThis model is designed t.docxmayank272369
NewFCFF2StageTwo-Stage FCFF Discount ModelThis model is designed to value a firm, with two stages of growth, an initialperiod of higher growth and a subsequent period of stable growth.For a richer version of this model, try the fcffginzu.xls spreadsheet.Assumptions1. The firm is expected to grow at a higher growth rate in the first period.2. The growth rate will drop at the end of the first period to the stable growth rate.The user has to define the following inputs:1. Length of high growth period2. Expected growth rate in earnings during the high growth period.3. Capital Spending, Depreciation and Working Capital needs during the high growth period.4. Expected growth rate in earnings during the stable growth period.5. Inputs for the cost of capital. (Cost of equity, Cost of debt, Weights on debt and equity)Inputs to the modelCurrent EBIT =$5,186.00Current Interest Expense =$118.00Current Capital Spending$2,152.00Current Depreciation & Amort'n =$1,228.00Tax Rate on Income =28.49%Current Revenues =$16,701.00Current Non-cash Working Capital =$3,755.00Chg. Working Capital =$499.00Last yearCash and Marketable Securities$500.00Value of equity options issued by firm =$1,500.00Book Value of Debt =$1,479.00$1,315.00Book Value of Equity =$12,941.00$12,156.00Weights on Debt and EquityIs the firm publicly traded ?Yes( Yes or No)If yes, enter the market price per share =$125.50(in currency)& Number of shares outstanding =993.57(in #)& Market Value of Debt =$1,822.00( in currency)If no, do you want to use the book value debt ratio ?No(Yes or No)If no, enter the debt to capital ratio to be used =(in percent)Enter length of extraordinary growth period =5(in years)Do you want to change the debt ratio in the stable growth period?NoIf yes, enter the debt ratio for the stable growth period =Costs of ComponentsDo you want to enter cost of equity directly?No(Yes or No)If yes, enter the cost of equity =(in percent)If no, enter the inputs to the cost of equityBeta of the stock =0.8Riskfree rate=5.30%(in percent)Risk Premium=5.50%(in percent)Enter the cost of debt for cost of capital calculation5.50%( in percent)Earnings InputsDo you want to use the historical growth rate?No(Yes or No)If yes, enter EBIT from five years ago =$800.00(in currency)Do you have an outside estimate of growth ?Yes(Yes or No)If yes, enter the estimated growth:12.50%(in percent)Do you want to calculate the growth rate from fundamentals?Yes(Yes or No)The following will be the inputs to the fundamental growth formulation:ROC =27.53%Reinv. Rate =38.37%Do you want to change any of these inputs for the high growth period?No(Yes or No)If yes, specify the values for these inputs (Please enter all variables)ROC =10.00%Reinv. Rate =100.00%Specify weights to be assigned to each of these growth rates:Historical Growth Rate =0.00%(in percent)Outside Prediction of Growth =0.00%(in percent)Fundamental Estimate of Growth =100.00%(in percent)Enter growth rate in stable growth period?6.00%(in percent)BetaW.
Negotiation StylesWe negotiate multiple times every day in e.docxmayank272369
Negotiation Styles
We negotiate multiple times every day in encounters with others. Negotiation occurs when two or more parties have conflicting goals or interests.
Reflect on the past week and identify an instance where you negotiated with someone—at home, at work, or anytime you had contact with another person. For
the first paragraph
of your initial post, describe the negotiation event, including the participants, the key issues, and the outcome.
For
the second part
of your initial post, evaluate the following starter bullet points, using research on course concepts to inform your analysis:
Negotiators tend to have consistent styles. How would you assess your style in the negotiation? How would you assess the style of the other party? How might your style have been different had you been negotiating the same issue with a different person?
.
Neurological SystemThe nervous system is a collection of nerves .docxmayank272369
Neurological System
The nervous system is a collection of nerves and specialized cells forming a spectacular network of connections which transmit signals between different parts of the body. It controls the activities of all body organs and tissues. Structurally, it is organized into two parts: the central nervous system, comprising the brain and spinal cord, and the peripheral nervous system, which connects the central nervous system to other parts of the body.
The aging process is associated with many biological, physiological, environmental, psychological, behavioral, and physical processes. These changes often result in several complex health conditions dubbed geriatric syndromes. Most cells have a short life span and are easily regenerated and replaced by new cells in the human body. On the other hand, nerve cells are generated in vivo, have a longer life span, and are usually not replaced when they die or are destroyed.
Several changes occur in the central nervous system. Firstly, nerve cells and supporting neuroglia are gradually lost with age. On the other hand, the remaining cells function less efficiently, and there is an increased concentration of harmful materials such as free radicals and iron in the remaining brain tissue (Knight & Nigam, 2017). Secondly, there is a decrease in brain mass leading to decreased function of affected areas such as the cerebral cortex, hippocampus, and motor cortex, manifesting as impairments in higher functions, memory loss, and gait. Thirdly, the ventricles increase in size and due to the loss of cells lining the ventricles. Fourthly, there is a decrease in cerebral blood flow and diminished integrity of the blood-brain barrier over time. There is also a decline in the production of neurotransmitters. Lastly, age-related changes to the vertebrae and intervertebral discs may increase pressure on the spinal cord and its branching nerve roots. This can slow down nerve impulses' conduction along motor neurons, contributing to reduced muscular strength (Manini et al., 2013).
There is a slowed nerve conduction in the peripheral nervous system attributed to decreased axonal length, loss of mitochondria, and degeneration of peripheral neurons' myelin sheath. This may result in decreased sensation, slower reflexes, and clumsiness. On top of that, damaged neurons are not repaired efficiently in older adults, and some are not repaired at all.
The decrease in brain function with aging may impair mental function seen in neurodegenerative conditions such as delirium and dementia. Delirium is defined as an acute confusional state characterized by an acute decline in attention-focus, perception, cognition, and consciousness. In contrast, dementia is an acquired global impairment of intellect, memory, and personality but without impaired consciousness.
The two conditions are similar in that they exhibit similarities in their presentation: impaired memory and judgment, confusion, disorientation, and varia.
Neuroleadership is an emerging trend in the field of management..docxmayank272369
Neuroleadership is an emerging trend in the field of management. As we look at the importance of global leadership in our ever-changing business environment, we find a connection between our way of thinking and our leadership and decision-making style. Below are several articles related to this topic.
Please choose 2-3 articles from below to read on the subject and then evaluate and discuss the rise of neuroleadership in the human resource and organizational development disciplines.
Articles:
David Rock. (2013).
T + D, 67
(10), 84-85
.
Dr. David Rock presented on the brain science behind performance at PeopleFluent global user conference WISDOM 2015. (2015, Mar 10).
Business Wire.
Dr. David Rock presents 'the brain science behind performance' at PeopleFluent WISDOM 2015. (2015). Professional Services Close - Up.
Fox, A. (2011). Leading with the brain.
HRMagazine, 56
(6), 52-53
.
In an interview, David Rock, founder of the NeuroLeadership Institute, talked about how scientists' growing understanding of the brain illuminates techniques for leadership and decision-making. Rock said mindfulness is the ability to be meta-cognitive or to think about your thinking. Labeling is the ability to put words on your mental state -- for instance, to articulate when you are feeling anxious. All involve an area of the brain that is central for self-regulation -- the ventrolateral prefrontal cortex. Researchers are discovering that self-regulation -- regulating emotion, regulating your thoughts, regulating your attention -- is essential in leadership. The optimal leader is adaptive. Leaders have to know when to be dogmatic in their beliefs and when to be collaborative, when to get granular and when to be big-picture-focused. To be adaptive, you must have an integrated brain. A big part of the creative process is using your non-conscious brain, because the problems being tackled are simply too big for conscious processing resources.
Hogan, T. (2010). Neuroscience provides tools to navigate the new business reality.
People and Strategy, 33
(4), 8-9
.
The four domains of NeuroLeadership; problem solving, emotion regulation, collaborating and facilitating change provide an interesting lens through which to examine the field of global leadership development. Leaders today face greater challenges than ever before as they work across multiple geographies, functions, product lines and national cultures. Neuorscience provides a useful framework for understanding how leaders gain insights while learning to work in new ways across traditional boundaries in a borderless world. Leaders, therefore, need to be able to see and process information in new ways, making connections between phenomena that have never been linked before in their minds. This is systems thinking, and it is the hallmark of resourceful and innovative leaders throughout history
.
Kiefer, T. (2010). Neuroleadership-more than another leadership framework.
People and Strategy, 33
(4), 1.
Network security A firewall is a network security device tha.docxmayank272369
Network security
A firewall is a network security device that screens approaching and active network traffic and chooses whether to permit or block explicit traffic dependent on a defined set of security rules. Firewalls have been the first line of protection in network security for more than 25 years. They set up a boundary among verified and controlled inner networks that can be trusted and untrusted outside networks, for example, the Internet. A firewall can be hardware, software, or both.
There are several types of firewalls such as:
Proxy firewall; An early sort of firewall gadget, a proxy firewall serves as the gateway from one system then onto the next for a particular application. Proxy servers can give extra usefulness, for example, content storing and security by keeping direct connections from outside the system.
Stateful inspection firewall; Presently thought of as a "customary" firewall, a stateful inspection firewall permits or blocks traffic dependent on the state, port, and protocol. It screens all activity from the opening of a connection until it is shut.
Unified threat management (UTM) firewall; An UTM device normally join, in an inexactly coupled way, the elements of a stateful inspection firewall with intrusion prevention and antivirus.
Next-generation firewall (NGFW); Firewalls have developed past straightforward packet sifting and stateful inspection. Most organizations are conveying next-generation firewalls to block modern dangers, for example progressed malware and application-layer attacks.
threat-focused NGFW; These firewalls incorporate every one of the capacities of a conventional NGFW and furthermore give propelled threat detection and remediation.
In its relevance to the network security, firewall plays the following roles:
Gives defense against outside dangers by declining unapproved connections to the router from potential attackers, for example, hackers.
It additionally shields the network infrastructure from inside. In other words, it blocks active connections from the router. It mitigates the spread of viruses, keyloggers, or malware that have sneaked past the router and on the network. Such malicious software may transmit confidential information back to the hacker, for example, passwords. Just a firewall can keep them from doing such by hindering their connection.
References
William R. Cheswick, Steven M. Bellovin, Aviel D. Rubin (2003). "Google Books Link". Firewalls and Internet Security: repelling the wily hacker
o 500-700 word, double spaced, written in APA format, showing sources and a bibliography
o Prepare a 15 presentation on your final topic
project
Policy:
Describing the technology for defeating DDOS attacks would be a great presentation.
o 500-700 word, double spaced, written in APA format, showing sources and a bibliography
o Prepare a 15 presentation on your final topic
.
Network Forensics Use the Internet or the Strayer Library to.docxmayank272369
"Network Forensics"
Use the Internet or the Strayer Library to research and select at least one article involving a cybercrime case, within the last year, in which forensics was utilized. Summarize the article you researched and specify how forensic analysis was used to analyze the crime. Provide the link to the article.
.
Negotiation Process in the International ArenaNegotiation is.docxmayank272369
Negotiation Process in the International Arena
Negotiation is a common practice for leaders of international businesses. International negotiation includes consideration of cultural similarities and differences, conflict resolution perspectives, power or status views, and decision-making styles. Using the United States and two other countries, research negotiation practices of all three countries.
Assess the cultural similarities and differences between the countries, including how negotiations might be affected.
Explain how negotiators would be selected for each country and any issues differences in selection criteria might cause for negotiations.
Propose strategies for conducting a negotiation between the countries.
.
Needs to be 150 word min. Perform a scholarly search (using Pu.docxmayank272369
Populations that have been found to have a high incidence of voice disorders include teachers. One study examined the prevalence of voice disorders in teachers, with a sample of 100 primary school teachers who completed questionnaires and underwent laryngeal examinations. This study provided useful data on the rates of voice problems in teachers with a moderate sample size and methodology.
Needing assistance with powerpoint presentation for Sociology in the.docxmayank272369
The student needs help summarizing a sociology presentation on digital world topics and attached the instructions and rubric. They are on a tight deadline and will submit additional requests for this class. The student asks that any questions be asked first to avoid confusion over the scope of work and only paying for requested papers.
Need to write essay on 1000 words about Guns and Crimes , in context.docxmayank272369
Need to write essay on 1000 words about Guns and Crimes , in context of Texas. Subject is texas government.
Step 1
: Identify the issue and how both the US government and the Texas government have been currently addressing it (historical perspective).
Step 2
: Gather a minimum of three scholarly research articles and additional news/current events relevant to the topic.
Step 3
: Prepare a formal policy report that is
a minimum of 1000 words (excluding cited text),
which includes a discussion of the following:
A statement of the current policy
Reasons for initiating changes
Policy options to be considered
Pros and cons of each option
Recommended course of action
Reasoning for selecting that course of action
.
Need Research Paper related to the course Related topic in the.docxmayank272369
Need Research Paper related to the course
Related topic in the field of Information Technology, e−Participation, Policy−Making in a Complex World, Organizational Decision−Making, ICT for Policy−Making, Challenges to Policy−Making, etc.
Course: Information Technology in a Global Economy
.
Need it in about 12 hours. There are 3 docx file each one of.docxmayank272369
Need it in about
12 hours
. There are
3 docx file
each one of them has a question and the reading material. The response for each question should be around
400 words(+- 50 words)
. You can use the internet article as well, just need to include the reference at the end.
I have posted the due date as 10/17/2019 since the website doesn't allow me for today.
.
Need plagiarism very important Select one type of cryptography o.docxmayank272369
Need plagiarism very important
Select one type of cryptography or encryption and explain it in detail. Include the benefits as well as the limitations of this type of encryption. Your summary should be 2-3 paragraphs in length and uploaded as a TEXT DOCUMENT. Click the link above to submit your work. There is an EXAMPLE attached to show you the format requirements.
Be sure ti include your reference citation.
.
Need the below with in 24 hours.Provide 2 references,500 words.docxmayank272369
Need the below with in 24 hours.Provide 2 references,500 words
Crime Prevention through Environmental Design (CPTED) long established operations currently used across the globe but not problem free operations. (Fennelly, 2017). The environmental design approach to security recognizes the space’s designated which often related to CPTED solution process. Effective physical security designing process must focus on internal and external use facility space to prevent crime. CPTED’s objectives falls on designing and implement effective use of space, implement toughening approach on crime prevention. Facility hardening is a standard measure that must fully implemented to deny access to a crime target through physical and artificial barrier techniques such as locks, alarms, fences, and gates to protect the facility, access control and surveillance system to make environments sterile, unsightly, and unfriendly.
1.
Provide comprehensive narrative to confirm advantages and disadvantages of CPTED on residents of urban community.
References
Fennelly, Lawrence J. (2017). Effective Physical Security: “Introduction to
Vulnerability Assessment”. (pp. 23-53). Cambridge: MA
.
Need it within 12-14 hours of time.One paragraph with 300 words .docxmayank272369
Need it within 12-14 hours of time.
One paragraph with 300 words and other with 200 words.
Vulnerability: categorized
as weakness, helplessness and defenselessness.
Assessment:
classified
as inclusive wide range of approaches on assessment mechanism to measure skill acquisition and compliance with acceptable standards and procedures.
Preamble
Vulnerability assessment (VA)
is the process of identifying, quantifying, and prioritizing vulnerabilities, broad range of assessing measurable mechanisms, risk management, active planning, facility infrastructure, data and alarm communication systems. In addition, VA in this modern era must include collective assessment instrument relative to disaster management, threats on vulnerable innocent community and facility infrastructure. It is worth noting that Vulnerability Assessment (VA) is entrenched with standard requirements set forth by regulatory agency to assess and monitor facility performance.
Scenario
You have been designated as a Lead Regulatory Administrator to assess the Millennium Healthcare Enterprise’s (MHE) facility that have been attacked and agonized by the lost vital assets, eroded public confidence and damaged facility, but MHE is still determined to improve protection of asset and renovation of the damaged facility and continue as a functional organization.
Dialogue
Identify Millennium Healthcare Enterprise (MHE) weakness; if any.
Apparently, MHE is so concerned about the public trust, Why?
Identify the scope of offensive and defensive plan against future threat.
.
Need it to be 300 words. Two paragraphs only. What would you co.docxmayank272369
Need it to be 300 words. Two paragraphs only.
What would you consider to be defining traits and behaviors of a successful leader?
Epicurus Commentary
Chapter 4 Materials
Section 1:
Epicurus begins his exposition of hedonism with a particular cosmology—that is, with a comprehensive and rational account of the ultimate nature of the cosmos, or universe. The cosmology we speak of is called atomism, which comes from the ancient Greek word atomos, meaning “uncuttable” or “indivisible.” According to atomism, the universe (and everything in it) is composed of an infinite number of atoms combining and separating in the infinite void. Atoms are the most basic building blocks of reality. They are eternal—they are neither created nor can they ever be destroyed. Thus it makes no sense to ask “where did the atoms come from?” or “why does anything exist at all?” Atoms do not come from anywhere, since they have always existed and always will exist.
Epicurus believes that atomism is the most common-sense approach to understanding reality. The fact that there are only material things, or bodies, is confirmed by the experience of all men. It impossible, he says, to even conceive of anything besides bodies and the empty space (void) through which those bodies move. Now it is true that many people believe in incorporeal (i.e., non-bodily) souls, not to mention angels and gods. But Epicurus finds this belief rather silly, since our senses do not allow us to perceive anything that is not a body. In fact, even when we try to imagine angels and gods, we invest them with a human shape or form, as if they were some kind of spiritual body, which is a contradiction in terms (because to be a real, existing being, it must have the power of acting and being acted upon, and only corporeal beings are capable of this). No, says Epicurus, the only real beings are material things. (From this observation he makes the logical deduction that if you divide bodies into halves you will at some point reach a body that is so simple that it can no longer be divided into anything smaller—this is the atom.) Everything else (immaterial gods, souls, angels, demons, spirits, etc.) is the product of our vivid imaginations. The sooner we realize this, the better off we will all be.
There are two types of bodies: compounds, which are clusters of two or more atoms, and then the actual atoms out of which those compounds are formed. As we pointed out already, the atoms are indestructible. The constellations of atoms, or compounds, on the other hand, are not indestructible: at some point they will cease to exist as particular compounds. Let us use you as an example: You, as a human being, are a highly complex bundle of perhaps trillions of atoms arranged in a particular configuration. But you have not always been such as you are now. At some point you did not exist: the atoms that now make up your body existed somewhere else in nature (perhaps in the plants and animals your parents used for fo.
Need it for tomorrow morning!!!!For your synthesis essay, yo.docxmayank272369
Need it for tomorrow morning!!!!
For your synthesis essay, you will develop an original thesis in response to a question, while also engaging with two assigned readings to use as textual evidence or counter-evidence.
This is the same format expected in the Final Exam.
Please choose
two
of the following readings:
· “Small Change: Why the Revolution Will Not Be Tweeted” by Malcolm Gladwell
· “Is Google Making Us Stupid?” by Nicolas Carr
· “Our Vanishing Night” by Verlyn Klinkenborg
· “The Loser Edit” by Colson Whitehead
Choose
one
of the following questions to respond to:
1. Is there a relationship between technology, society,
and/or
identity? If so, what is it? How does it influence our lives? Choose
two
essays and explain.
2. How is our technology – in any aspect – hurting society? Or, how is it helping society? Choose
two
essays and explain.
3 pages long
.
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বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
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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.
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.
Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
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.
2. the online version will vary from the pagination of the print
book.
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Strategic Control and Crisis Management
Chapter Outline
Step 1: The Focus of Strategic Control
Step 2: Strategic Control Standards (Benchmarks)
Published Information for Strategic Control
Product/Service Quality
Innovation
Market Share and Relative Market Share
Steps 3 Through 5: Exerting Strategic Control
Control Through the Formal and Informal Organizations
Crisis Management
Prominent Crises in Recent History
Crisis Planning
Trends in Strategic Management
Summary
Key Terms
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Review Questions and Exercises
Practice Quiz
Student Study Site
Notes
The strategic management process is not complete when a
strategy has been executed. It is
also necessary to evaluate its success—or failure—and take
steps to address any problems
that may have arisen along the way. Strategic control consists of
determining the extent to
which the organization's strategies are successful in attaining its
goals and objectives. The
execution process is tracked, and adjustments to the strategy are
made as necessary.1. It is
during the strategic control process that gaps between the
intended and realized strategies
(i.e., what was planned and what really happened) are identified
and addressed. For
example, Wal-Mart instituted strategic control when it cut back
its plan for U.S. supercenter
expansion in the late 2000s following lower-than-expected
4. global revenues.2.
The process of strategic control can be likened to that of
steering a vehicle. After the strategy
accelerator is pressed, the control function ensures that
everything is moving in the right
direction. When a simple steering adjustment is not sufficient to
modify the course of the
vehicle, the driver can resort to other means, such as applying
the break or shifting gears. In
a similar manner, strategic managers can steer the organization
by instituting minor
modifications or resort to more drastic changes, such as altering
the strategic direction
altogether.
The imperative for strategic control is brought about by two key
factors, the first of which is the
need to know how well the firm is performing. Without strategic
control, there are no clear
benchmarks and ultimately no reliable measurements of how the
company is doing. A second
key factor supporting the need for strategic control is
organizational and environmental
uncertainty. Because strategic managers are not always able to
accurately forecast the future,
strategic control serves as a means of accounting for last-minute
changes during the
implementation process. In addition, rivals may respond
immediately to a change in strategy,
requiring that managers consider additional modifications.
The focus of strategic control is both internal and external
because it is top management's
role to align the internal operations of the enterprise with its
external environment. Relying on
5. quantitative and qualitative performance measures, strategic
control helps maintain proper
alignment between the firm and its environment.
Although individual firms usually exert little or no influence
over the external environment,
macroenvironmental and industry forces must be continuously
monitored because shifts can
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1.
2.
3.
4.
5.
greatly influence the firm. The purpose of monitoring the
external environment is to determine
whether the assumptions on which the strategy is based remain
valid. In this context, strategic
control consists of modifying the company's operations to more
effectively defend itself
against external threats that may arise or become known.
The notion of strategic control has recently gained a
6. “continuous improvement” dimension,
whereby strategic managers seek to improve the efficiency and
effectiveness of all factors
related to the strategy. In other words, control should not be
seen as an action necessary only
when performance declines. Rather, managers should think
critically when considering
strategic control and look for opportunities to enhance
performance even with things seem to
be going well.
Ultimately, strategic control can be exerted by the chief
executive officer (CEO), the board of
directors, or even individuals outside the top management team.
The roles played by boards
of directors, institutional investors, and shareholders who
monitor firm strategies and often
instigate control vary across firms. The influence of the board
and others notwithstanding,
ongoing strategic control is largely a function performed by the
top management team. A five-
step strategic control process can be employed to facilitate this
process, as depicted in Figure
12.1:
Top management determines the focus of control by identifying
internal factors that can
serve as effective measures for the success or failure of a
strategy, as well as outside
factors that could trigger responses from the organization.
Standards (i.e., benchmarks) are established for internal factors
with which the actual
performance of the organization can be compared after the
strategy is implemented.
Management measures, or evaluates, the company's actual
performance both
7. quantitatively and qualitatively.
Performance evaluations are compared with the previously
established standards.
If performance meets or exceeds the standards, corrective action
is usually not
necessary. If performance falls below the standard, then
management usually takes
remedial action.
Step 1: The Focus of Strategic Control
The first step of the strategic control process is to determine the
focus of the control. It is
important to align the focus with the ongoing strategy to be
assessed so that its success or
failure can be evaluated accordingly. For example, executives in
a firm emphasizing
innovation may wish to focus on factors associated with
research and development (R & D)
and new product development. In contrast, strategic managers in
a firm emphasizing cost
containment might focus on factors associated with efficiency
and production processes.
Specifically, if the firm seeks to be the industry's low -cost
producer, for example, its managers
must compare its production efficiency with those of
competitors and determine the extent to
which the firm is attaining its goal.
This step creates the context for strategic control by
concentrating management effort on
areas directly linked to strategic success.
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Figure 12.1 Five-Step Strategic Control Process
Step 2: Strategic Control Standards (Benchmarks)
The second step of the strategic control process is to identify
specific strategic control
standards directly linked to the strategy. Here, executives are
clarifying the specific
performance measures that will be employed to evaluate
strategic success or failure. Firm
performance may be evaluated in a number of ways.
Management can compare current
operating results with those from the preceding quarter or year.
Profitability is the most
commonly utilized performance measure and is therefore a
popular means of gauging
performance and exerting strategic control. A number of
additional financial measures may
also be helpful, including return on investment (ROI), return on
assets (ROA), return on sales
(ROS), and return on equity (ROE), and growth in revenues. A
qualitative judgment may be
made about factors such as changes in product or service
quality.
A key problem with measuring performance is that one measure
can be pursued to the
detriment of another. The common goals of growth and
profitability represent an example of
this phenomenon. Many firms pursue growth by investing in R
9. & D or new product
development or by slashing prices to gain customers. Either
approach tends to reduce profits
—at least in the short term.3.
While control standards should be established for the internal
factors identified in the
previous step, the focus should not consider past performance.
Doing so can be myopic
because it ignores important external variables. For example, a
rise in ROA from 8% to 10%
may appear to be a significant improvement, but this measure
must be evaluated in the
context of industry trends. In a depressed industry, a 10% ROA
may be considered
outstanding, but that same return in a growth industry may be
disappointing if the leading
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firms earn 20%. In addition, an increase in a company's ROA is
less encouraging if
performance continues to lag behind industry standards.
Often, strategic control standards are based on competitive
benchmarking—the process of
measuring a firm's performance against that of the top
performers, usually in the same
10. industry. After determining the appropriate benchmarks, a firm's
managers set goals to meet
or exceed them. Best practices—processes or activities that
have been successful in other
firms— may be adopted as a means of improving performance.
Strategic control should occur constantly at various
organizational levels and within various
functions of the organization. Realistic performance targets, or
benchmarks, should be
established for managers throughout the organization, and they
should also be specific. For
example, if market share is identified as a key indicator of the
success or failure of a growth
strategy, a specific market share should be identified, based on
past performance and/or
industry norms. Without specificity, it is difficult to assess the
effectiveness of a strategy after
it is implemented if clear targets are not identified in advance.
Control at the functional level may include factors such as the
number of defects in
production or composite scores on customer satisfaction
surveys. Like organization-wide
benchmarks, functional targets should also be specific, such as
“3 defective products per
1,000 produced” or “97% customer satisfaction based on an
existing survey instrument.”
Published Information for Strategic Control
Key information required to exert strategic control is not always
readily available, but access
has improved significantly in the past several decades. One of
the first and best-known efforts
to amass relevant data was known as the PIMS (profit impact of
11. market strategy) program.
PIMS is a database that contains quantitative and qualitative
information on the performance
of thousands of firms and more than 5,000 business units. The
original PIMS survey involved
about 3,000 business units in 200 firms between 1970 and 1983.
Data collection continued
after 1983, however, with about 4,000 businesses currently
included. While PIMS continues to
be recognized as a pioneering effort in strategic control, a
variety of elaborate and targeted
databases have since emerged.4.
Fortune magazine annually publishes the most- and least-
admired U.S. corporations with
a n n u a l s a l e s o f a t l e a s t $ 5 0 0 m i l l i o n i n s
u c h d i v e r s e i n d u s t r i e s a s e l e c t r o n i c s ,
pharmaceuticals, retailing, transportation, banking, insurance,
metals, food, motor vehicles,
and utilities. Corporate dimensions are evaluated along factor s
such as quality of products
and services, innovation, quality of management, market share,
financial returns and stability,
social responsibility, and human resource management
effectiveness. Publications such as
Forbes, Industry Week, Business Week, and the Industry
Standard also provide performance
scorecards based on similar criteria. Although such lists
generally include only large, publicly
traded companies, they can offer high-quality strategic
information at minimal cost to the
strategic managers of all firms, regardless of size. Published
information on three measures—
(1) quality, (2) innovation, and (3) market share—can be
particularly useful measures, and are
12. discussed later in the chapter.
Product/Service Quality
Over the years, there has been a positive relationship between
product/service quality—
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including both the conformance of a product or service to
internal standards and the ultimate
consumer's perception of quality—and the financial
performance of those firms. Conforming to
internal quality standards alone is not sufficient. Products and
services must also meet the
expectations of users, including both objective and subjective
measures.5.
Fortune assesses quality by asking executives, outside directors,
and financial analysts to
judge outputs of the largest firms in the United States.6. Its
studies consistently demonstrate
a significant relationship between product/service quality and
firm performance. Although the
PIMS program assesses quality through judgments made by both
managers and customers
instead of asking executives and analysts, its findings also
13. support a strong positive
correlation between product quality and business performance.7.
Consumer Reports is also an excellent source of product quality
data, evaluating hundreds of
products from cars to medications each year. Because Consumer
Reports accepts no
advertising, its evaluations are relatively bias free, rendering it
an excellent source of product
quality information for competing businesses. Even if the
products of a particular business are
not evaluated by this publication, that company can still gain
insight on the quality of products
and services produced by its competitors, suppliers, and buyers.
Specific published information may also exist for select
industries. One of the best known is
the “Customer Satisfaction Index” released annually by J. D.
Power for the automobile
industry. A survey of new car owners each year examines such
variables as satisfaction with
various aspects of vehicle performance; problems reported
during the first 90 days of
ownership; ratings of dealer service quality; and ratings of the
sales, delivery, and condition of
new vehicles.8. Numerous Internet sites offer quality ratings
associated with a number of
industries for everything from computers to university
professors.
Business publications often provide detailed assessments of
firms in travel-related industries.
For example, in early 2011, the Financial Times conducted an
in-depth analysis of air travel
14. worldwide, including information on fatal accidents in the 25
largest airlines, fatalities in
various parts of the world, and airlines banned for safety
concerns.9. Reports such as these
are not only valuable to business travelers, but executives in the
industry can often use them
as a means of evaluating firm performance.
Broadly speaking, the Internet serves as an excellent resource
for strategic managers seeking
quality assessments for its industry. For example, a number of
sites (e.g., www.dealtime.com)
provide consumer ratings of vendors. Although such
information is not always reliable,
feedback forums can provide strategic managers with valuable
insight into the quality
perceptions of their customers. Even Amazon.com ranks all
books on sales volume and
provides opportunities for readers to post comments to
prospective buyers.
Innovation
Innovation is a complex process and is conceptualized,
measured, and controlled through a
variety of means. Some researchers use expenditures for product
research and development
and process R & D as a surrogate measure.10. Expenditures on
developing new or improved
products and processes also tend to increase the level of
innovation, a finding also supported
by PIMS data.11. However, it should not be assumed that all
innovation-related expenditures
15. yield the same payback.
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Some firms plan and control their programs for innovation very
carefully. 3M, for instance, has
established a standard that 25% of each business unit's sales
should come from products
introduced to the market within the past 5 years. Not
surprisingly, 3M invests about twice as
much of its sales revenue in R & D as its competitors.12. This
approach is consistent with
3M's differentiation and prospector orientation at the business
level.
Market Share and Relative Market Share
Market share is a common measure of performance for a firm.
As market share increases,
control over the external environment, economies of scale, and
profitability are all likely to be
enhanced. In large firms, market share often plays an important
role in managerial
performance evaluations at all levels in the organization.
Because market share gains
ultimately depend on other strategic variables, such as consumer
16. tastes, product quality,
innovation, and pricing strategies, changes in relative market
share may serve as a strategic
control gauge for both internal and external factors. As
discussed in Chapter 2, a firm's
relative market share is its proportion of total revenues when
only a select group of rivals are
considered.
For successful smaller businesses, market share may serve as a
strategic control barometer
because some businesses may strategically plan to maintain a
low market share. In this
event, the strategic control of market share emphasizes
variables that are not targeted at
growth and includes tactics that encourage high prices and
discourage price discounts.
Limiting the number of product/markets in which the company
competes also serves to limit
small market share. A small market share combined with
operations in limited product/markets
may allow a company to compete in domains where its larger
rivals cannot. Hence, for some
companies, emphasizing increases in relative market share can
trigger increases in cost or
declines in quality and can actually be counterproductive.13.
Steps 3 through 5: Exerting Strategic Control
Exerting strategic control requires that performance be
measured (Step 3), compared with
previously established standards (Step 4), and followed by
corrective action (Step 5), if
necessary. Corrective action should be taken at all levels if
actual performance is less than
17. the standard that has been established unless extraordinary
causes of the discrepancy can
be identified, such as a halt in production when a fire shuts
down a critical supplier. It is most
desirable for strategic managers to consider and anticipate
possible corrective measures
before a strategy is implemented whenever possible.
Top managers should monitor the price of the company's stock
as relative price fluctuations
suggest how investors value the performance of the firm. A
sudden drop in price makes the
firm a more attractive takeover target whereas sharp increases
may mean that an investor or
group of investors is accumulating large blocks of stock to
engineer a takeover or a change in
top management.
Organizational comparisons with rivals are a key basis for
exerting strategic control. For
example, the collective market share for cable television
providers consistently declined
throughout the 1990s. A number of cable customers switched to
less expensive satellite
providers such as DIRECTV and Dish Network. By the early
2000s, cable's competitive
advantage of simplicity and complete local network
programming had eroded as Dish Network
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and DIRECTV began to offer small, easy-to-install, discreet
satellite dishes, including local
networks as part of the service plan. As a result, a number of
cable companies began cutting
rates in the early 2000s in an effort to regain lost market
share.14. Today, competition between
satellite television providers and cable firms remains intense.
Because individual measures of performance can provide a
limited snapshot of the firm, a
number of companies have begun using a balanced scorecard
approach to measuring
performance. When a balanced scorecard is used, performance
measurement is not based
on a single quantitative factor but on an array of quantitative
and qualitative factors, such as
ROA, market share, customer loyalty and satisfaction, speed,
and innovation.15. The key to
employing a balanced scorecard is to identify a combination of
performance measures tailored
specifically to the firm and its strategic objectives (see Table
12.1).
Implementing a balanced scorecard approach can be
challenging, however. Although the
measures are surrogates of performance, some managers might
focus on individual measures
at the expense of overall performance. For example, if a firm
emphasizes market share as a
key individual measure on the scorecard, its managers might
19. attempt to meet this objective by
rushing products to market or cutting prices excessively,
activities that can undermine the
long-term health and profitability of the firm. Nonetheless, this
approach has helped a large
number of firms better understand performance issues.16.
Table 12.1 Balanced Scorecard Strategic Objectives and
Measures
Strategic
Objective
Examples of Strategic Measures
Cost Leadership Annual reductions in production costs
Innovation
Percentage of revenues derived from products developed during
the
previous 5 years
Customer
Service
Percentage of customers reporting satisfaction with a product or
service
Firm Growth Market share in select industries
Product Quality
Percentage of products returned by retailers or by consumers for
warranty
service
20. Financial
Strength
Net income, profit margin, or return on assets (ROA)
Control through the Formal and Informal Organizations
Strategic control can occur directly through the formal
organization or indirectly through the
informal organization. The formal organization—the official
structure of relationships and
procedures used to manage organizational activity—can
facilitate or impede a firm's success.
When an organization's structure is no longer appropriate for its
mission, strategic control can
initiate a change. Top managers can exert formal control
through such actions as modifying
the structure or changing the reward system.
Popularity has increased for a means of exerting control through
the formal organization
called business process reengineering—the application of
technology and creativity in an
effort to eliminate unnecessary operations or drastically
improve those that are not performing
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well. As such, companies sought to “eliminate any process that
21. did not add value” to the
organization's goods and services. For example, many consumer
goods manufacturers during
this period began to rethink their packaging operations, and
many of them eliminated large,
cumbersome boxes in favor of less costly shrink-wrapping.
Some analysts have noted a
reemer-gence of this trend in the early 2000s.17.
In the 2000s, a number of organizations shifted from functional
or product divisional structures
to matrix structures and experienced considerable unanticipated
difficulty. Substantial
structural changes cannot be easily implemented and typically
require a large amount of
training and development. Strategic managers at many of these
firms underestimated the
complications associated with transforming their organizational
structures into a more complex
matrix structure.
Whereas the formal organization concerns the official structure,
the informal organization
refers to the norms, behaviors, and expectations that evolve
when individuals and groups
come into contact with one another.18. The informal
organization is dynamic and flexible and
does not require managerial decree to change. Simply stated,
informal relationships can
promote or impede strategy implementation and can play a
greater role than the formal
organization. Strategic control through the informal
organization often involves attempts to
modify the organization's culture.
22. When top executives use the formal organization effectively,
the informal organization tends to
reinforce the formal organization and promote the same values.
However, when the
organization's value system is unclear or even contradictory, the
informal organization will
ultimately develop its own, more consistent set of values and
rewards. For example, every
organization claims to reward high job performance. However,
when promotions and pay
increases go to individuals who have the greatest seniority
(regardless of their level of
performance), employees will lose motivation and develop their
own set of informal rules
concerning what will and will not be rewarded.
Management must recognize its limitations concerning the
informal organization. As stressed
in Chapter 11, management can influence but cannot control the
informal organization. An
effective means of influencing the informal organization is to
develop and promote a formal
organization that is consistent with the core values of the firm.
The informal organization
becomes dysfunctional when it develops means to address
inconsistencies in the formal
organization.
T h e r e l a t i o n s h i p b e t w e e n t h e f o r m a l a n d
i n f o r m a l o r g a n i z a t i o n s s h o u l d n o t b e
underestimated. In general, any change in structure may also
necessitate an appropriate
modification in the organization's reward system so that the new
forms of desired behavior will
be properly rewarded. When management fails to align the
23. formal organization's reward
systems with new expectations, the informal organization
typically changes to counterbalance
the inconsistencies19. (see Case Analysis 12.1).
Case Analysis 12.1 Step 24: How Should the Selected
Alternative(s) be Controlled?
How can one know in 1, 3, 5, or 10 years if an alternative has
been successfully
implemented? What should be done if sales or profits do not
increase as planned? To
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answer these questions, one needs to apply the five-step control
process with as much
specificity as possible.
First, identify what will be measured (i.e., how one will
determine the extent to which
the company is successful). Second, set the standards. For
example, if ROA and
“number of new profitable stores” are selected in Step 1, then
one might identify 15%
ROA and 22 stores per year as standards or targets.
24. Explain how the standards were developed. Consider the
industry and past
performance. If the industry mean for ROA is 15%, then 15%
might be an appropriate
target of performance for the company. The selected strategy
can also be considered.
If 110 additional retail locations are planned over the next 5
years, then 22 stores per
year might be an appropriate target. It is important to clearly
state how the standards
were derived. Identifying numbers without a clear basis is not
sufficient.
After performance is measured (Step 3) and compared to the
standards (Step 4),
corrective action may be taken (Step 5). In the context of a case
analysis, it is not
p o s s i b l e t o m e a s u r e p e r f o r m a n c e a f t e r t h
e s t r a t e g i c r e c o m m e n d a t i o n s a r e
implemented. Therefore, one should suggest alternative courses
of action that might
be taken if the standards are not reached. Considering the
preceding example, what
changes (if any) should be made if only 15 profitable stores are
opened in the first 2
years or if ROA is only 8%? What changes (if any) should be
made if the company
reaches its target of 22 profitable stores but ROA falls to 2%?
At what point (if any)
should the company consider retreating from the recommended
alternative(s)? It is
critical to provide considerable detail to demonstrate that all
prospective future
outcomes have been considered when outlining the present
course of action. Of
25. course, it is important to exert strategic control and take
corrective action whenever
necessary, not just at the end of a specified term.
Crisis Management
On April 20, …
Strategic Management: Theory and
Practice
Strategy Execution Strategic Change, Culture,
and Leadership
Contributors: By: John A. Parnell
Book Title: Strategic Management: Theory and Practice
Chapter Title: "Strategy Execution Strategic Change, Culture,
and Leadership"
Pub. Date: 2014
Access Date: March 24, 2018
Publishing Company: SAGE Publications, Ltd
City: 55 City Road
Print ISBN: 9781452234984
Online ISBN: 9781506374598
DOI: http://dx.doi.org/10.4135/9781506374598.n11
27. Summary
Key Terms
Review Questions and Exercises
Practice Quiz
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Student Study Site
Notes
When a new strategy is executed, an old one is discarded.
Managing strategic change can be
a difficult task even when everyone in the organization agrees
that it is needed and
understands what will occur as a result. Even so, techniques to
institutionalize the change
must be developed. Barriers and resistance to change should be
recognized so that
strategies can be developed to overcome them.
Executing a strategy can become quite challenging—especially
when a strategic change of
28. great magnitude is involved. When the environment changes
rapidly or abruptly, progressive
firms take steps to capitalize on new opportunities and/or
minimize the negative effects of the
changes.1. Change can be brought about by factors such as the
need to address increased
competition, improve quality or service, reduce costs, or align
the firm with the practices and
expectation of its partners. Strategic change can be
revolutionary, such as when a firm
changes its product lines, markets, or channels of distribution.
Strategic change can also be
less radical, such as when a firm overhauls its production
system to improve quality and lower
its costs of operations.
Because changing strategies is often a complex process, i t may
not be desirable even when
changes in the macroenvironment and/or industry suggest
problems for the current strategy.
Shifting the strategic intent may confuse customers and
employees, may require structural
changes in the organization, and can result in major capital
investments. In short, the costs
associated with a major strategic change are not always justified
by the benefits.2.
Evaluating the appropriateness of strategic change is a complex
process. Consider several
examples. In 2003, McDonald's faced its first quarterly loss as a
public company. Rather than
increase its efforts to market inexpensive products to children,
the burger giant responded
with higher priced items such as the $4.50 California Cobb
29. salad and the $3.89 grilled chicken
c l u b s a n d w i c h , a l l t h e w h i l e r e t a i n i n g i t s
d o l l a r m e n u w i t h i t e m s s u c h a s d o u b l e
cheeseburgers, chicken sandwiches, and side salads. As a result,
revenue increased 33%
from 2002 to 2005, while profits more than doubled.
McDonald's also responded with a more
aggressive approach to new product development instead of
relying on its franchises to
generate ideas, a slow process that led to the Big Mac in 1968,
the Egg McMuffin in 1973,
and the Happy Meal in 1979. The firm hired chef Dan
Coudreaut as director of culinary
innovation in 2004, a decision that led to the successful Asian
salad and the value-priced
snack wrap in 2006.3. The fast-food giant added premium
coffee and related offerings to its
product line in 2006. The results have been positive with
McDonald's experiencing strong
growth in profits, market share, and stock price through the
early 2010s.4. Same store sales
declined in late 2012 for the first time since 2003, however,
renewing the debate over how
McDonald's can balance its premium and dollar menu items
while its own food costs are on
the rise.
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McDonald's also faced an intriguing challenge when it
introduced drive-thru serve in its
Chinese restaurants in 2006. Customers there were not familiar
with a drive-thru and could
not figure out how to use it. The company responded with flyers
illustrating the process and
had employees stationed in the parking lots to direct customers
to the drive-thru lane.5.
Strategic change is more common in some industries than in
others. For example, a number
of strategic shifts have occurred in the airline industry since the
early 2000s. Southwest
Airlines has reported profits every year since its inception,
fueled by a consistent reliance on
low costs, no frills, and low fares. In the early 2000s, however,
younger low-cost carriers such
as JetBlue, Frontier, and America West experienced more rapid
growth thanks in part to a
greater emphasis on factors such as entertainment, food service,
and first-class seating. In
late 2003, Southwest announced it would begin flying into
Philadelphia—a hub for U.S.
Airways—in 2004, a move signaling a possible shift from the
airline's historical avoidance of
busy airports ruled by major carriers.
Southwest made another similar jump when it moved into
Denver International Airport in
January 2006, where airport fees average around $9 per
31. passenger as opposed to the
industry average of $5. Southwest had avoided such costly
airports in the past and faced
intense price competition there with Denver-based low-cost
carrier Frontier Airlines, and some
extent from United Airlines, which controls over half of the
Denver market.6. Some analysts
believed that this strategic change marked the beginning of a
departure from Southwest's
strict low-cost position.7. Others believe that Southwest's
growth and success in the early
2000s, coupled with intense competition from low-price
upstarts, has begun to erode
Southwest's cost advantage. Southwest acquired low-cost rival
AirTran in 2010, giving
Southwest a significant presence in the Hartfield-Jackson
Atlanta International Airport.
Strategic change of a great magnitude can be difficult to
implement (see Strategy at Work
11.1). Employees resist change for a variety of reasons,
including personal factors, lack of
information about the change, and poor design of the support
system. Simply stated,
strategic change is easier said than done.
Strategy at Work 11.1. Decades of Strategic Change at Sears8.
Until the mid-1970s, Sears was arguably the most successful
U.S. retailer. However,
the retail industry began to undergo dramatic changes in the late
1970s. Sears’ private-
label business was eroded by the growing popularity of
specialty retailers such as
32. Circuit City while its once low-cost structure was decimated by
Wal-Mart.
Sears’ response to these changes has not always been
consistent. Initially, the retailer
reacted by attempting to emphasize fashion with such labels as
Cheryl Tiegs
sportswear. But high-fashion models were not consistent with
the Sears middle-
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America image. Sears then attempted to convert its antiquated
image into a financial
supermarket by purchasing Dean Witter Financial Services and
Coldwell Banker Real
Estate. However, in-store kiosks never caught on with
customers, and the expected
synergy between these two subsidiaries and Sears’ Allstate
Insurance and Discover
Card business units failed to materialize.
Next, management modified the store's image to one that sold
nationally branded
merchandise along with private-label brands at “everyday low
prices.” The idea was to
33. create individual “superstores” within each of the Sears outlets
to compete more
effectively with powerful niche competitors. Sears departed
from its traditional practice
of holding weekly sales to save on advertising expenses and
inventory handling while
offering everyday low prices, which turned out to be, in some
cases, higher than Sears’
old sale prices. By this time, customers were totally confused.
In 1992 alone, Sears lost
almost $4 billion, its worst performance ever.
In 1993, Sears terminated its big catalog operations, began
spinning off some of its
businesses unrelated to general merchandising, overhauled its
clothing lines,
eliminated more than 93,000 jobs, and closed 113 stores. In
1995, Sears reentered the
catalog business. This time, instead of a big book Sears catalog,
it set up joint
ventures to provide smaller catalogs. Sears provides its name
and its 24 million credit
card customers. Its partners select the merchandise, mail
catalogs, and fill orders.
By 1996, Sears had begun to benefit from its strategic shift to
moderately priced
apparel and home furnishings. In 1999, Sears branched out
further, developing “The
Great Indoors” to attract women to the traditionally male-
dominated home improvement
market. This format was in response to the fragmented nature of
the home remodeling
business, particularly on the higher end where services such as
decorating and
installation are often involved. The format targeted as its
34. primary customers women 30
to 50 years old earning in the $50,000 range.
In late 2001, Sears announced another strategic shift designed
to position the firm as a
solid, even more discount-oriented retailer. The company
announced the elimination of
a substantial number of cashiers and other employees, the
integration of centralized
checkouts, and shifts in the product mix, all designed to
improve efficiency in the
stores. In late 2002, Sears acquired Lands’ End, a leading
marketer of traditionally
designed clothing and related products. By the mid-2000s, Sears
had incorporated the
brand into its retail outlets, but performance continued to wane.
The once prosperous
American icon had been unable to meet the challenges of a
changing retail
environment.
Kmart acquired Sears in 2005 for $11 billion (see Strategy at
Work 6.1 in Chapter 6),
but sales for the combined firm have declined every year since
through 2011.9.
The decision to institute a strategic change or not can be a
difficult one. This chapter
discusses two key areas associated with executing strategic
change: (1) organizational
culture and (2) leadership. Both dimensions must be aligned
with the strategy and managed
properly if a strategy is to be implemented effectively.
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Organizational Culture and Strategy
Organizational culture refers to the shared values and patterns
of belief and behavior that are
accepted and practiced by the members of a particular
organization.10. It includes work
practices, traditions, and accepted work practices and also
defines how managers and
workers treat each other and can expect to be treated. It fosters
peer pressure that
encourages members of the organization to behave in certain
ways. Ideally, the strategic
decisions rendered by top management should be consistent
with the culture of the
organization. Strategies that contradict cultural norms are more
difficult to execute. An
emphasis on cost leadership, for example, is not easy to
implement when members of an
organization are conditioned to spend company time and
resources on new products and
ideas.
36. Because each organization develops its own unique culture,
even organizations within the
same industry and city will exhibit distinctly different ways of
functioning. The organizational
culture enables a firm to adapt to environmental changes and to
coordinate and integrate its
internal operations.11. Ideally, the values that define a firm's
culture should be clear, easy to
understand by all employees, embodied at the top of the
organization, and reinforced over
time.
Cultures not only form at the organizational level but within the
organizational culture as well.
These organizational subcultures can develop around such
factors as location, functional
responsibility, or managerial level. Cultural similarities among
sales representatives at an
organization may differ from those among production workers.
The first and most important influence on an organization's
culture is its founder(s). Some
founders have strong beliefs about business practice or have
strict procedures for transacting
affairs. Their assumptions about success—as well as those of
other early top managers—
form the foundation of the firm's culture.12. For instance, the
primary influence on
McDonald's culture was the fast-food company's founder, Ray
Kroc. Although he passed
away in 1984, his philosophy of fast service, assembly line food
preparation, wholesome
image, cleanliness, and devotion to quality are still central
facets of the organization's
37. culture.13. Likewise, Steve Job's influence on Apple will
remain long past his untimely death
in 2011.
Views and assumptions concerning an organization's distinctive
competence comprise one of
the most important elements of culture, particularly in new
organizations. For example,
historically innovative firms are likely to respond to a sales
decline with new product
introductions whereas companies whose success is based on low
prices may respond with
attempts to lower costs even further.14. However, it is possible
to modify the culture over time
as the environment changes, rendering some of the firm's
culture obsolete and even
dysfunctional. New elements of the culture must be added as the
old elements are discarded.
Stories are also an important component of culture. Whether
true or fabricated, accounts and
legends of organizational members can have a great influence
on present-day actions of
managers and workers alike. UPS employees tell stories of
drivers who go the extra mile
through adverse weather to deliver packages on time. Microsoft
employees retell stories of
programmers who work long hours to meet demanding
production schedules. These stories
create expectations and can inspire workers to perform similar
feats in their daily jobs.
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Organizational culture can facilitate or hinder the firm's
strategic actions. Studies have shown
that firms with “strategically appropriate cultures”— such as
PepsiCo, Apple, and Google—
tend to outperform other corporations whose cultures do not fit
as well with their strategies. A
strategy-culture fit can support strategy execution because the
activities required from middle
managers and others in the organization are consistent with
what is already taking place.
When the strategy does not fit with the culture, it is necessar y
to change one or both. For
example, a firm caught in a changing environment may craft a
new strategy that makes sense
from financial, product, and marketing points of view. Yet the
strategy may not be
implemented because it requires significant changes in
assumptions, values, and ways of
working.15. All things considered, changing a strategy is easier
than changing culture, and
both are often required for organizations to be successful.16.
For many firms, achieving a strategy-culture fit means an
adaptive culture whereby members
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of an organization are willing and eager to embrace any change
that is consistent with the
core values.17. Such a culture values taking initiative and risk,
exhibiting creativity, trust and
employee involvement, and a desire for continuous, positive
organizational change. Adaptive
cultures are especially important for firms that emphasize high
growth or innovation (e.g.,
prospectors), as well as those operating in turbulent
environments. Adaptive cultures
emphasize innovation—developing something new—and
encourage initiative whereas inert
cultures are conservative and encourage maintenance of existing
resources. For companies
like Google and eBay, an adaptive culture is an essential part of
their success.
Cultural Strength and Diversity
Some cultures influence firm activities more than others. A
strong culture is characterized by
deeply rooted values and ways of thinking that regulate firm
40. behavior. Top managers model
that behavior and create peer pressure that reinforces the notion
that others in the
organization should behave likewise. Strong cultures develop
over an extended period of time
—generally a decade or longer.
When a strong culture embodies appropriate values, it can be a
valuable resource for a firm
when it reinforces values inherent in the organization's
strategies. Effective strategy execution
occurs when all facets of the organization—including the
culture—are “on the same page.”
When this occurs, effectiveness is likely to increase when a
firm's strategy and culture
reinforce each other.18. J. C. Penney's strong culture grounded
in its key principles on ethics
and customer orientation has contributed to its success and
survival as a leading U.S. retailer
for over 100 years.19.
When a strong culture is unhealthy and embodies destructive
characteristics, it can strain firm
performance. For example, such characteristics include a strong
emphasis on politics to get
things done, a disregard for ethical standards, territorialism
among departments, and strong
resistance to change. Of course, strong dysfunctional cultures
can hinder organizational
performance.20.
Unlike a strong culture, a weak culture lacks values and ways of
thinking that are widely
41. accepted by members of the organization. There is no clear,
widely accepted business
philosophy, and managers approach their responsibilities in
different ways. In general, this
lack of cultural consensus does not support strategy execution.
There are exceptions,
however, such as colleges and universities where disparate
perspectives may be deliberately
fostered across campus to expose students to different view and
ideas during their
educational experience. Such institutions emphasize diversity,
the extent to which individuals
across the organization are different.
It is common today to speak of the need to pursue diversity as a
means of competitive
advantage. The term can be defined in a number of ways,
however. Some use it to reference
differences over which individuals clearly have no choice, such
as age, race, ethnicity, gender,
and physical disability. Others extend this definition to include
behaviors over which
individuals exert control, such as marital status, religion, and
sexual preference.21. Still others
use the term simply to reference differences in ways of
thinking.
Research linking diversity and firm performance is largely
inconclusive, however, in part
because of competing conceptualizations of what it means for
an organization's membership
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to be diverse.22. Diversity's link to cultural strength is an
interesting one. The latter, simpler
notion of diversity—differences in ways of thinking—is
strikingly similar to the concept of a
weak culture. In this respect, greater diversity can hinder firm
performance. A number of
research studies focusing on diverse top management teams,
however, have found that
diverse ways of thinking among top managers lead to more
creative, comprehensive, and
effective strategies.23.
The value of diverse ways of thinking appears to be most
critical when a strategy is being
formulated. A diverse top management team can pool its vast
backgrounds and perspectives
to create innovative strategies without blind spots. For those
responsible for executing a
strategy, typically middle- and lower-level managers, less
diversity is required. In this stage,
processes for implementation may be clearly defined, and
managers are simply charged with
following them. Hence, a strong culture—one with less diversity
of thought—is likely
preferable in this regard.
43. Shaping the Culture
Cultural change is a complex process. Just as cultures do not
develop overnight, they are
rarely changed in a short period of time. Culture change is
possible, but efforts often fail due
primarily to a lack of understanding about how a culture can be
changed and how long it is
likely to take.24.
Top executives can influence and shape the organization's
culture in at least five ways25.—
the first of which is to systematically pay attention to areas of
the business believed to be of
key importance to the strategy's success. The top executive may
take steps to accomplish this
goal formally by measuring and controlling the activities of
those areas or less formally by
making specific comments or questions at meetings. These
specific areas should be ones
identified as critical to the firm's long-term performance and
survival, and may include such
areas as customer service, new product development, or quality
control.
The second means involves the leader's reactions to critical
incidents and organizational
crises. The way a chief executive officer (CEO) deals with a
crisis, such as declining sales or
technological obsolescence, can emphasize norms, values, and
working procedures or even
create new ones. Organizational members often take their
behavioral cues from their leaders.
The third means is to serve as a deliberate role model, teacher,
44. or coach. When a CEO
models certain behavior, others in the organization are likely to
adopt it as well. For example,
CEOs who give up their reserved parking places and park
among the line workers send a
message about the importance of status in the organization.
The fourth means is the process through which top management
allocates rewards and
status. Leaders communicate their priorities by consistently
linking pay raises and promotions,
or the lack thereof, to particular behaviors. Simply stated,
rewarded behavior tends to
continue and become ingrained in the fabric of the organization.
This not only applies to
middle and lower-level managers but can apply at top levels of
the organization as well.
The fifth means of shaping the culture is to modify the
procedures through which an
organization recruits, selects, promotes, and terminates
employees. An organization's culture
can be perpetuated by hiring and promoting individuals whose
values are similar to those of
the firm and whose beliefs and behaviors more closely fit the
organization's changing value
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1.
2.
system. Firms should spend the time necessary to properly
screen candidates and evaluate
them on their fit with the desired organizational culture. The
easiest way to affect culture over
the long term is to hire individuals who possess the desired
cultural attributes.
Global Concerns
A number of global concerns can also complicate the role of
organizational culture. In many
respects, an organization's culture can be viewed as a subset of
the national culture in which
the firm operates. As such, operating outside one's own country
can create special challenges
in areas such as leadership and maintaining a strong
organizational culture. For example,
leaders of some nations resist innovation and radical new
approaches to conducting business
whereas others welcome such change. Such national tendencies
often become a part of the
culture of the organization in those countries.
The self-reference criterion—the unconscious reference to one's
own cultural values as a
standard of judgment—also presents a potential problem.
Managers often believe that the
leadership styles and organizational culture that work in their
home country should work
46. elsewhere. However, each nation—like each organization—has
its own unique culture,
traditions, values, and beliefs. Hence, organizational values and
norms must be tailored to fit
the unique culture of each country in which the organization
operates—at least to some
extent. The need to customize values and norms can create
special challenges when firms
from different countries become partners or even merge their
organizations.
Strategic Leadership
Announcing a strategic change usually does little to inspire
those responsible for
implementing the change. The top management team has several
means at its disposal to
encourage managers and other employees to implement the
strategy, one of which is
leadership. The CEO is recognized as the organization's
principal leader, one who sets the
tone for its activities. A manager exhibits (managerial)
leadership when he or she secures the
cooperation of others in accomplishing a goal (see Strategy at
Work 11.2).
Strategy at Work 11.2. Planning for CEO Succession26.
CEO succession is an important consideration, especially when
an executive departs a
large, successful firm. Wal-Mart's legendary CEO Sam Walton
handed over the reigns
of power to David Glass in early 1998, followed by Lee Scott
and Mike Duke in 2009.
Following Steve Job's illness and subsequent death in 2011, the
reigns at Apple were
47. passed to Tim Cook. How do icons like Wal-Mart and Apple
execute these changes in
leadership-and leadership styles—without negative
consequences? Five lessons for a
successful CEO transition have been suggested from the Wal -
Mart experience:
Firms should cross-train high-level executives to broaden their
exposure as
much as possible. Doing so prevents the learning curve for the
new CEO from
being too steep.
Firms should expose the heir apparent and other top executives
to board
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3.
4.
5.
members so they know what the board expects from top
management.
48. Firms should discuss potential conflicts associated with the new
roles for both
the incoming and the outgoing CEOs. Plan to address any
potential problems.
Like Walton, Glass stayed on in an advisory capacity after he
stepped down as
CEO.
The new CEO should conduct meetings in conference rooms to
facilitate open
participation, not from the executive desk.
Everyone involved should stay humble and not overestimate the
new CEO's
ability to institute rapid change.
Strategic leaders articulate the firm's vision. Whereas the
mission describes what you
strive to do best every day, the vision is a view of the future
when your mission is
achieved in the present. For example, a relatively small car
producer's mission may be
to produce reliable, economical vehicles for value-conscious
consumers. Its CEO might
articulate a vision of the firm as a leader in providing reliable
transportation throughout
the world. Such a vision stretches the firm's ability to grow and
develop but looks to the
future and is realistic because it is attainable if the company
continues to fulfill its
mission.
Broadly speaking, the vision sets the stage for the firm's
strategy by focusing members
of the organization on key capabilities, offering a sense of
49. direction, and even providing
a mental picture of what the firm should look like in the future.
Of course, vision
statements have little impact on organizations if they are not
sufficiently focused and
articulated clearly. In this respect, the notion of a vision is the
linchpin between the
CEO and the components of the strategy. Diffusing the vision—
and ultimately the
strategy—throughout the organization is a key top executive
function.27.
Strategic leadership is more than managerial leadership. In
addition to creating the
vision and mission for the firm, it also includes developing
strategies and empowering
individuals throughout the organization to put those strategies
into action. It includes
determining the firm's strategic direction, aligning the firm's
strategy with its culture,
modeling and communicating high ethical standards, and
initiating changes in the
firm's strategy when necessary. Strategic leadership establishes
the firm's direction by
developing and communicating a vision of the future and
inspires organization
members to move in that direction.28. Unlike strategic
leadership, managerial
leadership is generally …