The document discusses Hilton Worldwide's potential expansion into Cuba. It outlines Hilton's current strategic objectives related to finances, guests, team members, owners, and community. It then analyzes how various work functions may be affected by expanding into Cuba, including property operations, brand standards, development, finance, HR, legal and more. Finally, it proposes a change management strategy and action plan for the potential expansion, recommending a franchising structure to take advantage of its strengths while mitigating weaknesses.
The document discusses strategy implementation and organizational structure. It begins by defining strategy implementation as the process of putting strategies into action, which involves sub-strategies, action plans, resource allocation, and individual assignments. It then discusses how organizational structure, control systems, and culture can aid in implementing strategy by coordinating employee efforts and motivating performance. Specific strategy implementation actions are outlined, such as developing marketing campaigns, facilities changes, and product adjustments. The document emphasizes that effective implementation relies on an organization having the proper resources and competencies. Finally, it explores how organizational structure should follow strategy by adapting to changes in a company's strategic goals.
What is Training and Development ?
What is the Process of training and its importance?
What is Organizational Development and its benefits?
What is Talent Acquisition, its process and challenges?
The document discusses strategic planning and strategic alliances. It defines strategic planning as determining an organization's mission, objectives, and strategies to achieve its mission. A strategic plan involves assessing internal strengths and weaknesses as well as external opportunities and threats through a SWOT analysis. The document also defines strategic alliances as agreements between organizations to pursue common goals by sharing resources and activities. Strategic alliances allow partners to leverage complementary strengths and focus on their core competencies. Success requires selecting the right partners, building trust, and effective communication.
This document discusses strategic management and the impacts of the internet on business planning. It covers topics such as electronic commerce, types of e-commerce like business-to-business and business-to-customer, potential supply chain members, basic e-commerce strategies, key business drivers, competitive advantages, and barriers and strategies for global e-commerce. It also briefly discusses marketing, marketing plans, strategic marketing management models, and Porter's generic strategies framework.
The document discusses corporate governance practices at Infosys, including transparency, independent directors, succession planning, and stakeholder management. It also covers topics like strategic leadership, corporate culture, power and politics, business ethics, social responsibility, and models of CSR in India. Infosys prioritizes transparency, satisfying governance spirit, and clear external communication. It has guidelines for governance and rates highly for CG practices.
The document discusses several aspects of strategic management including activating strategies, measurement, reporting, implementation, barriers, and structural considerations. Activating strategies involves institutionalizing the strategy and translating objectives. Measurement and reporting are challenges due to objectivity and presenting results. Implementation requires developing an organization, allocating resources, and linking rewards to goals. Barriers prevent strategic evaluation. Structural considerations for implementation include configuring hierarchies, identifying core competencies, establishing processes, authority levels, and developing partnerships.
The document discusses various aspects of strategy implementation including:
1. Strategy implementation requires integrating people, structure, processes and resources to achieve organizational objectives.
2. There are different organizational structures that can be used including functional, divisional, strategic business unit and matrix structures.
3. The McKinsey 7S model analyzes seven key internal elements including strategy, structure, systems, staffing, skills, style and shared values that must be aligned for effective strategy implementation.
The document discusses various aspects of organizational structure and design, including vertical and horizontal differentiation, organizational hierarchy choices like flat versus tall structures, and common structural types like functional, divisional, matrix, and network structures. It also covers stages of corporate development from simple to functional to divisional structures. Key considerations for structure include leadership, human resources, culture, communication, and information and control systems.
The document discusses strategy implementation and organizational structure. It begins by defining strategy implementation as the process of putting strategies into action, which involves sub-strategies, action plans, resource allocation, and individual assignments. It then discusses how organizational structure, control systems, and culture can aid in implementing strategy by coordinating employee efforts and motivating performance. Specific strategy implementation actions are outlined, such as developing marketing campaigns, facilities changes, and product adjustments. The document emphasizes that effective implementation relies on an organization having the proper resources and competencies. Finally, it explores how organizational structure should follow strategy by adapting to changes in a company's strategic goals.
What is Training and Development ?
What is the Process of training and its importance?
What is Organizational Development and its benefits?
What is Talent Acquisition, its process and challenges?
The document discusses strategic planning and strategic alliances. It defines strategic planning as determining an organization's mission, objectives, and strategies to achieve its mission. A strategic plan involves assessing internal strengths and weaknesses as well as external opportunities and threats through a SWOT analysis. The document also defines strategic alliances as agreements between organizations to pursue common goals by sharing resources and activities. Strategic alliances allow partners to leverage complementary strengths and focus on their core competencies. Success requires selecting the right partners, building trust, and effective communication.
This document discusses strategic management and the impacts of the internet on business planning. It covers topics such as electronic commerce, types of e-commerce like business-to-business and business-to-customer, potential supply chain members, basic e-commerce strategies, key business drivers, competitive advantages, and barriers and strategies for global e-commerce. It also briefly discusses marketing, marketing plans, strategic marketing management models, and Porter's generic strategies framework.
The document discusses corporate governance practices at Infosys, including transparency, independent directors, succession planning, and stakeholder management. It also covers topics like strategic leadership, corporate culture, power and politics, business ethics, social responsibility, and models of CSR in India. Infosys prioritizes transparency, satisfying governance spirit, and clear external communication. It has guidelines for governance and rates highly for CG practices.
The document discusses several aspects of strategic management including activating strategies, measurement, reporting, implementation, barriers, and structural considerations. Activating strategies involves institutionalizing the strategy and translating objectives. Measurement and reporting are challenges due to objectivity and presenting results. Implementation requires developing an organization, allocating resources, and linking rewards to goals. Barriers prevent strategic evaluation. Structural considerations for implementation include configuring hierarchies, identifying core competencies, establishing processes, authority levels, and developing partnerships.
The document discusses various aspects of strategy implementation including:
1. Strategy implementation requires integrating people, structure, processes and resources to achieve organizational objectives.
2. There are different organizational structures that can be used including functional, divisional, strategic business unit and matrix structures.
3. The McKinsey 7S model analyzes seven key internal elements including strategy, structure, systems, staffing, skills, style and shared values that must be aligned for effective strategy implementation.
The document discusses various aspects of organizational structure and design, including vertical and horizontal differentiation, organizational hierarchy choices like flat versus tall structures, and common structural types like functional, divisional, matrix, and network structures. It also covers stages of corporate development from simple to functional to divisional structures. Key considerations for structure include leadership, human resources, culture, communication, and information and control systems.
Strategic management involves formulation and implementation of major goals and initiatives by top management based on assessments of internal and external environments. It provides direction for the future, clear objectives, and better performance than non-strategic firms. Objectives of strategic management include desired market share, innovation, developing human and physical resources, productivity, social responsibility, and profit requirements.
Strategy implementation involves mobilizing employees and managers to execute organizational strategies through various activities. These include developing strategic objectives and policies, allocating resources, managing conflicts that may arise, restructuring organizational structures as needed, and developing incentive systems to align employee performance with strategic goals. Effective strategy implementation requires coordination across different levels of the organization and managing resistance to change.
This document provides an overview of strategic management concepts including business policy, corporate strategy, and the basic concepts of strategic management. It defines business policy as guidelines that govern organizational actions and define decision-making limits for lower level management. Corporate strategy concerns how different business operations work together to achieve goals and how the corporation can add value across businesses. The basic concepts of strategic management include defining the organization's vision as what it wants to ultimately become, and its mission as the purpose and reason for its existence, including who it seeks to serve.
The document outlines the strategic management process for organizations in the hospitality and tourism industry. It discusses five key phases: 1) Developing a strategic vision and mission, 2) Setting objectives, 3) Crafting a strategy to achieve the vision and objectives, 4) Implementing the strategy, and 5) Monitoring performance and making corrections if needed. The process emphasizes setting specific, measurable goals and monitoring the environment to evaluate strategies and make adjustments to better achieve the organization's strategic goals.
This document discusses structural implementation and strategic control in organizations. It defines structural implementation as how tasks and subtasks are arranged to implement strategy. It then describes two main types of organizational structure: vertical and horizontal. Vertical structure focuses on specialization, hierarchy, and efficiency while horizontal structure emphasizes integration, flexibility, and learning. The document also notes that structure should follow strategy for economic efficiency. It outlines several common organizational structures like functional, divisional, strategic business unit, and matrix structures. Finally, it defines strategic control as managing strategic plan formation and execution, and describes different types of strategic control like premise, alert, implementation, and surveillance controls.
Strategic management session 2 focuses on managing strategically by making decisions and implementing strategies to develop and maintain a competitive advantage. It discusses maintaining competitive advantage through capitalizing on organizational resources and capabilities while recognizing dynamic external factors. It also overviewed three views: the industrial organization view focusing on external structural forces and competition; the resource-based view exploiting internal resources and capabilities; and the guerrilla view seeing competitive advantage as temporary requiring continual radical changes.
The document discusses the roles and responsibilities of strategic leaders and middle managers in organizational strategy. It outlines several key roles:
1. Strategic leaders such as the CEO are responsible for determining strategic direction, managing resources, sustaining organizational culture, emphasizing ethics, and establishing controls.
2. Middle managers play important roles in strategy formation through idea generation, championing new initiatives, and developing capabilities.
3. Both strategic leaders and middle managers are involved in strategy implementation through roles like leadership, organization, resource management, and performance monitoring. Effective strategy implementation requires alignment across all organizational elements.
Strategic fit expresses the degree to which an organization is matching its resources and capabilities with the opportunities in the external environment.
In addition, strategic fit also examines the resource base of the organization and explores how they can be utilized to achieve maximum benefits.
- Strategic resource allocation is most important during the strategy implementation stage of planning, organizing, motivating, staffing, and controlling.
- While many companies formulate strategies, 70-90% fail at execution due to issues with implementation rather than the strategies themselves.
- Effective resource allocation involves developing inventories of available resources, resource requests from divisions/departments, and appropriately allocating resources to achieve strategic goals.
The document discusses the concepts of strategic management, including defining strategy as a high-level plan to achieve goals using limited resources. It outlines the main components and processes of strategic management, including strategy formulation, implementation, and evaluation. The stages involve analyzing internal strengths/weaknesses and external opportunities/threats to determine objectives and strategies to guide organizational decision-making.
This document discusses key aspects of developing and implementing an organizational performance management system, including defining key result areas (KRAs), setting objectives and goals, measuring performance, reviewing progress, evaluating performance, and providing rewards. It emphasizes establishing 3-5 specific and measurable KRAs per role that capture 80% of responsibilities. Performance management systems aim to increase the likelihood employees will achieve organizational objectives through goal setting and regular feedback.
Strategic management process and stratergic implementation PPT MBA FINANCEBabasab Patil
Strategic management involves several steps including developing a vision and mission, conducting internal and external audits, setting long-term objectives, evaluating strategies, implementing strategies, and measuring performance. Strategy implementation involves identifying annual objectives, developing specific functional strategies, and communicating policies to guide decisions. It also requires building organizational capabilities, allocating resources, instituting best practices, installing support systems, tying rewards to strategic targets, and providing strategic leadership. Effective short-term objectives that facilitate strategy implementation are measurable, prioritized, and linked to long-term objectives. They translate long-term goals into specific, timed, and measurable annual targets with assigned responsibilities.
The document discusses the strategic management process (SMP) and its importance for organizational leadership. It defines the SMP as involving goal setting, analysis, strategy formulation, implementation, and evaluation to achieve organizational objectives. The paper explains that SMP responsibilities rest with senior executives who must direct resources and navigate complexity to meet mission and vision. It also breaks down the SMP into key components of environmental scanning, strategy formulation, implementation, and evaluation and control. The document concludes that the SMP is critical for organizational success and that leadership must practice it to guide decision-making and actions over time.
The document provides an overview of strategic management including definitions, comparison of strategic, tactical and operational levels, types of policies, and the strategic management process. It defines strategic management as the art and science of formulating, implementing, and evaluating cross-functional decisions to enable an organization to achieve its objectives. The strategic management process involves vision and mission formulation, objective setting, strategy development, implementation, and performance evaluation. It aims to create value through exploiting core competencies and achieving synergy.
INTRODUCTION TO MANAGEMENT
PRINCIPLES OF MANAGEMENT
PPT OF THE BOOK
Kathryn M. Bartol,
David C. Martin,
Management (latest edition),
MAIN TOPICS OF THE LECTURE ARE:
> Overall Planning Process
> Levels of goals and plans
> MBO
> Strategic Management
> Strategic Management Process
> Levels of strategies
> SWOT Analysis
> Porter’s five competitive forces model
> Types of Corporate strategies
This document discusses strategies for implementing organizational plans, including allocating resources, project implementation, structural changes, and ensuring proper employee behavior and policies. It also covers the importance of staffing in implementing strategies through recruiting, selecting, and compensating employees. The key aspects of directing employees are encouraging effective and efficient work in both the short and long term through principles like clear communication, leadership, and unified goals.
This document discusses strategic management and planning. It covers:
1) The key components of strategic management - formulation, implementation, and evaluation of cross-functional decisions to achieve organizational objectives.
2) The strategic management process, including strategic formulation, implementation, and evaluation.
3) Benefits and pitfalls of strategic planning, such as improved understanding but potential failure to communicate.
Models of strategy implementation by : Rajeh AltharahRAJEH AL-THARRAH
Strategy implementation involves putting strategies into action through internal operations and functions. There are models of strategy implementation that involve several themes: activating strategies by preparing for managerial tasks like strategic plans and projects; managing change which deals with leading change initiatives and standard implementation; and achieving effectiveness which is the outcome of operational and functional implementation and evaluation and control feedback. The models are based on these three major themes of activating strategies, managing change, and achieving effectiveness to successfully implement strategies.
Planning involves deciding in advance what needs to be done, when, how, and by whom to achieve organizational objectives. It bridges the gap between the present and desired future state. The planning process involves setting objectives, developing alternatives to meet objectives, choosing the best alternative, and implementing plans. Types of plans include vision, mission, strategies, objectives, policies, procedures, rules, and budgets. Planning occurs at different levels from corporate to operational. Management by objectives involves collaborative goal setting and performance assessment. Decision making is choosing the best alternative to solve problems based on feasibility, effectiveness, and costs through identifying issues, developing options, evaluating alternatives, selecting an option, implementing it, and reviewing feedback.
The document outlines the key steps in developing a marketing plan for a hospitality property: 1) conducting a marketing audit including analyzing internal/external sources and the property/competition; 2) selecting profitable target markets through market segmentation; 3) positioning the property; 4) establishing objectives and action plans with budgets; and 5) monitoring and evaluating the plan. It emphasizes that a marketing plan is essential for coordinating sales efforts and setting a property's strategy to attract business.
This document discusses the transformation of microfinance institutions (MFIs) in Latin America and the Caribbean from non-regulated NGOs to regulated financial institutions. It notes several MFIs in the region that successfully transformed, including BancoSol in Bolivia. The main advantages of transformation are accessing more diverse funding sources like deposits, offering more services to clients, and operating under a regulatory framework. While there are costs to comply with regulations, the benefits of sustainability and outreach outweigh these costs. Key factors for successful transformation include supportive regulations, the MFI's development stage, and stakeholder commitment. Careful planning that addresses governance, risk management, products, and efficiency is also important. Transformed MFIs have
Strategic management involves formulation and implementation of major goals and initiatives by top management based on assessments of internal and external environments. It provides direction for the future, clear objectives, and better performance than non-strategic firms. Objectives of strategic management include desired market share, innovation, developing human and physical resources, productivity, social responsibility, and profit requirements.
Strategy implementation involves mobilizing employees and managers to execute organizational strategies through various activities. These include developing strategic objectives and policies, allocating resources, managing conflicts that may arise, restructuring organizational structures as needed, and developing incentive systems to align employee performance with strategic goals. Effective strategy implementation requires coordination across different levels of the organization and managing resistance to change.
This document provides an overview of strategic management concepts including business policy, corporate strategy, and the basic concepts of strategic management. It defines business policy as guidelines that govern organizational actions and define decision-making limits for lower level management. Corporate strategy concerns how different business operations work together to achieve goals and how the corporation can add value across businesses. The basic concepts of strategic management include defining the organization's vision as what it wants to ultimately become, and its mission as the purpose and reason for its existence, including who it seeks to serve.
The document outlines the strategic management process for organizations in the hospitality and tourism industry. It discusses five key phases: 1) Developing a strategic vision and mission, 2) Setting objectives, 3) Crafting a strategy to achieve the vision and objectives, 4) Implementing the strategy, and 5) Monitoring performance and making corrections if needed. The process emphasizes setting specific, measurable goals and monitoring the environment to evaluate strategies and make adjustments to better achieve the organization's strategic goals.
This document discusses structural implementation and strategic control in organizations. It defines structural implementation as how tasks and subtasks are arranged to implement strategy. It then describes two main types of organizational structure: vertical and horizontal. Vertical structure focuses on specialization, hierarchy, and efficiency while horizontal structure emphasizes integration, flexibility, and learning. The document also notes that structure should follow strategy for economic efficiency. It outlines several common organizational structures like functional, divisional, strategic business unit, and matrix structures. Finally, it defines strategic control as managing strategic plan formation and execution, and describes different types of strategic control like premise, alert, implementation, and surveillance controls.
Strategic management session 2 focuses on managing strategically by making decisions and implementing strategies to develop and maintain a competitive advantage. It discusses maintaining competitive advantage through capitalizing on organizational resources and capabilities while recognizing dynamic external factors. It also overviewed three views: the industrial organization view focusing on external structural forces and competition; the resource-based view exploiting internal resources and capabilities; and the guerrilla view seeing competitive advantage as temporary requiring continual radical changes.
The document discusses the roles and responsibilities of strategic leaders and middle managers in organizational strategy. It outlines several key roles:
1. Strategic leaders such as the CEO are responsible for determining strategic direction, managing resources, sustaining organizational culture, emphasizing ethics, and establishing controls.
2. Middle managers play important roles in strategy formation through idea generation, championing new initiatives, and developing capabilities.
3. Both strategic leaders and middle managers are involved in strategy implementation through roles like leadership, organization, resource management, and performance monitoring. Effective strategy implementation requires alignment across all organizational elements.
Strategic fit expresses the degree to which an organization is matching its resources and capabilities with the opportunities in the external environment.
In addition, strategic fit also examines the resource base of the organization and explores how they can be utilized to achieve maximum benefits.
- Strategic resource allocation is most important during the strategy implementation stage of planning, organizing, motivating, staffing, and controlling.
- While many companies formulate strategies, 70-90% fail at execution due to issues with implementation rather than the strategies themselves.
- Effective resource allocation involves developing inventories of available resources, resource requests from divisions/departments, and appropriately allocating resources to achieve strategic goals.
The document discusses the concepts of strategic management, including defining strategy as a high-level plan to achieve goals using limited resources. It outlines the main components and processes of strategic management, including strategy formulation, implementation, and evaluation. The stages involve analyzing internal strengths/weaknesses and external opportunities/threats to determine objectives and strategies to guide organizational decision-making.
This document discusses key aspects of developing and implementing an organizational performance management system, including defining key result areas (KRAs), setting objectives and goals, measuring performance, reviewing progress, evaluating performance, and providing rewards. It emphasizes establishing 3-5 specific and measurable KRAs per role that capture 80% of responsibilities. Performance management systems aim to increase the likelihood employees will achieve organizational objectives through goal setting and regular feedback.
Strategic management process and stratergic implementation PPT MBA FINANCEBabasab Patil
Strategic management involves several steps including developing a vision and mission, conducting internal and external audits, setting long-term objectives, evaluating strategies, implementing strategies, and measuring performance. Strategy implementation involves identifying annual objectives, developing specific functional strategies, and communicating policies to guide decisions. It also requires building organizational capabilities, allocating resources, instituting best practices, installing support systems, tying rewards to strategic targets, and providing strategic leadership. Effective short-term objectives that facilitate strategy implementation are measurable, prioritized, and linked to long-term objectives. They translate long-term goals into specific, timed, and measurable annual targets with assigned responsibilities.
The document discusses the strategic management process (SMP) and its importance for organizational leadership. It defines the SMP as involving goal setting, analysis, strategy formulation, implementation, and evaluation to achieve organizational objectives. The paper explains that SMP responsibilities rest with senior executives who must direct resources and navigate complexity to meet mission and vision. It also breaks down the SMP into key components of environmental scanning, strategy formulation, implementation, and evaluation and control. The document concludes that the SMP is critical for organizational success and that leadership must practice it to guide decision-making and actions over time.
The document provides an overview of strategic management including definitions, comparison of strategic, tactical and operational levels, types of policies, and the strategic management process. It defines strategic management as the art and science of formulating, implementing, and evaluating cross-functional decisions to enable an organization to achieve its objectives. The strategic management process involves vision and mission formulation, objective setting, strategy development, implementation, and performance evaluation. It aims to create value through exploiting core competencies and achieving synergy.
INTRODUCTION TO MANAGEMENT
PRINCIPLES OF MANAGEMENT
PPT OF THE BOOK
Kathryn M. Bartol,
David C. Martin,
Management (latest edition),
MAIN TOPICS OF THE LECTURE ARE:
> Overall Planning Process
> Levels of goals and plans
> MBO
> Strategic Management
> Strategic Management Process
> Levels of strategies
> SWOT Analysis
> Porter’s five competitive forces model
> Types of Corporate strategies
This document discusses strategies for implementing organizational plans, including allocating resources, project implementation, structural changes, and ensuring proper employee behavior and policies. It also covers the importance of staffing in implementing strategies through recruiting, selecting, and compensating employees. The key aspects of directing employees are encouraging effective and efficient work in both the short and long term through principles like clear communication, leadership, and unified goals.
This document discusses strategic management and planning. It covers:
1) The key components of strategic management - formulation, implementation, and evaluation of cross-functional decisions to achieve organizational objectives.
2) The strategic management process, including strategic formulation, implementation, and evaluation.
3) Benefits and pitfalls of strategic planning, such as improved understanding but potential failure to communicate.
Models of strategy implementation by : Rajeh AltharahRAJEH AL-THARRAH
Strategy implementation involves putting strategies into action through internal operations and functions. There are models of strategy implementation that involve several themes: activating strategies by preparing for managerial tasks like strategic plans and projects; managing change which deals with leading change initiatives and standard implementation; and achieving effectiveness which is the outcome of operational and functional implementation and evaluation and control feedback. The models are based on these three major themes of activating strategies, managing change, and achieving effectiveness to successfully implement strategies.
Planning involves deciding in advance what needs to be done, when, how, and by whom to achieve organizational objectives. It bridges the gap between the present and desired future state. The planning process involves setting objectives, developing alternatives to meet objectives, choosing the best alternative, and implementing plans. Types of plans include vision, mission, strategies, objectives, policies, procedures, rules, and budgets. Planning occurs at different levels from corporate to operational. Management by objectives involves collaborative goal setting and performance assessment. Decision making is choosing the best alternative to solve problems based on feasibility, effectiveness, and costs through identifying issues, developing options, evaluating alternatives, selecting an option, implementing it, and reviewing feedback.
The document outlines the key steps in developing a marketing plan for a hospitality property: 1) conducting a marketing audit including analyzing internal/external sources and the property/competition; 2) selecting profitable target markets through market segmentation; 3) positioning the property; 4) establishing objectives and action plans with budgets; and 5) monitoring and evaluating the plan. It emphasizes that a marketing plan is essential for coordinating sales efforts and setting a property's strategy to attract business.
This document discusses the transformation of microfinance institutions (MFIs) in Latin America and the Caribbean from non-regulated NGOs to regulated financial institutions. It notes several MFIs in the region that successfully transformed, including BancoSol in Bolivia. The main advantages of transformation are accessing more diverse funding sources like deposits, offering more services to clients, and operating under a regulatory framework. While there are costs to comply with regulations, the benefits of sustainability and outreach outweigh these costs. Key factors for successful transformation include supportive regulations, the MFI's development stage, and stakeholder commitment. Careful planning that addresses governance, risk management, products, and efficiency is also important. Transformed MFIs have
This document discusses global strategy and organization for international businesses. It defines strategy as a plan to differentiate an organization and achieve goals. Effective strategies allocate resources to production, marketing, and development. The document outlines four strategic objectives and different types of industry and organizational structures used by global companies. These include multidomestic, global, and transnational strategies that balance global integration with local responsiveness.
This document outlines the contents and requirements for a new venture exploration plan. It details 12 sections that must be included in the plan, such as an executive summary, industry and market analysis, economics of the business, management team, and financial plan. Key dates for submitting draft and final reports, as well as presentations, are provided. The exploration plan will demonstrate how the team's research can be translated into a business concept with customer value, a solution to a problem, and potential for profit through robust market characteristics and good fit with the founders and management.
The document provides an overview of an extended stay system business model. It discusses establishing ownership and capital structure, setting objectives, required investment, and vision/mission. It also covers corporate planning, market and customer analysis, competitors, and a marketing plan framework. The goal is to establish a dominant brand in the extended stay segment across multiple locations in Andhra Pradesh.
Dave Lewis is an experienced executive who has driven significant revenue growth and cost savings for various companies. He conceived and built operations, marketing, and financial structures for a new beverage brand, growing its market valuation to $5 million in 2 years. For a $12 million e-commerce client, he redesigned processes and implemented systems, achieving $4.96 million in combined cost savings and revenue increases. Lewis has also founded and sold award-winning retail concepts, growing a wine and spirits store to $2 million in sales within 6 years for a 2200% return on investment.
The document provides an overview of key aspects of developing a marketing plan. It discusses that marketing planning is important given changes in consumers. An effective marketing plan involves analyzing the internal and external environment, understanding target markets and customers, developing segmentation and positioning strategies, setting objectives and strategies, creating marketing programs, and planning metrics to monitor and control the plan. The document outlines the typical contents and steps in a marketing planning process.
Tadd Spiegel has over 25 years of experience leading business transformation, process reengineering, and program management initiatives. He has a track record of delivering over $300 million in financial benefits through strategic planning, Lean Six Sigma projects, and PMO governance. Currently he is a Vice President at Citigroup leading strategic initiatives for their finance technology division.
Aegon A&I Conference: Accelerating execution of strategyAegon
Mark Mullin, CEO of Aegon in the Americas provide an update on how Aegon is accelerating the execution of its strategy at the December 2016 Aegon Analyst & Investors Conference in New York.
The document outlines plans for developing a digital marketing and social media strategy for Kube. It discusses conducting a social media landscape analysis and setting up a social media listening system. It proposes 8 key initiatives, including evaluating Kube's website and developing proprietary social media channels like a blog, Twitter, LinkedIn, and YouTube. Performance will be measured using key performance indicators and targets aligned with Kube's business objectives.
The document discusses applying project management concepts to marketing from planning through execution. It claims using project management methodology can help support marketing plan creation and use project control processes to measure marketing action phases. Key points are standardizing procedures, documenting processes, improving communication/integration, and better planning schedules and responsibilities for marketing. The document provides an example case study of a marketing project conducted by the National Sanctuary of Aparecida in Brazil to raise funds for a hospital. It applied project management methodology across planning, execution, and closing phases and achieved over $325,000 in donations through ticket sales. Benefits of applying project management to marketing included increased success chances, improved results, clarity/control, and clear roles/responsibilities.
Luvuyo Sydwell Mfecane has extensive experience in legal consulting, human resources management, supply chain management, and marketing. He holds a LL.M in Commercial Law from the University of Derby and a B-Tech/Honours Degree in Public Management. His areas of expertise include business crime, company law, commercial theories, international banking law, and international economic law.
The document provides details about the Sofitel Hotel project in Chinatown, Singapore. It describes the 80 room hotel development project, including conducting market research and feasibility studies. It outlines the construction process from site selection to obtaining approvals and permits, engineering planning, and mobilizing funding. The project was completed in 2 years and on budget, apart from a 2 million dollar cost overrun due to inflation and additional expenses. The Sofitel Hotel targets the upper premium business and leisure market by combining luxury amenities with the local culture and history of Chinatown.
The document discusses the key requirements and timeline for implementing the Volcker Rule and the French Banking Law (LBF). It provides an overview of the rules under each regulation and notes the strong interplay between the two, especially regarding proprietary trading. It also outlines some key impacts to consider, such as identifying permitted activities, metrics reporting requirements, and enhancing compliance programs. Finally, it proposes next steps for assessing readiness, including defining trading desks, exit strategies, and developing a metrics reporting strategy.
This document outlines the five phases of resort development: 1) conceptualization and planning, 2) feasibility analysis, 3) commitment, 4) design and construction, and 5) management and operation. It describes the key elements and activities involved in each phase, from initial project conception through construction and long-term management. Resort development requires coordination among investors, developers, and operators to create an appealing and economically viable project.
Building Your Financial Model Key Startup Metrics David Ehrenberg
Does your financial model explain how your business really works? Give you clear insight into the financial health of your startup? Tell a story that inspires investor confidence and will help you to raise capital?
As Guy Kawasaki said so well in his entrepreneurial bible Art of the Start, “the point of financial projections is to tell a story with numbers—a story about opportunity, resource requirements, market forces, growth, milestone achievements, and profits."
European marketing conference FDI campaign team presentationDavid Lines
The UKTI Marketing Inward Investment Campaign Team aims to grow its pipeline of investments over three years through targeted marketing. Its strategy considers segmentation by theme, sector, or market. Key messages include promoting the UK as "GREAT," experimental, or a safe investment choice. Objectives include emphasizing promising segments, ensuring high quality marketing materials, and supporting the sales process. Recommended activities justify supporting customer and market research, digital campaigns, videos, brochures and an online map to engage investors. The plan outlines team roles and an evaluation framework using web, social media and sales metrics to measure outcomes like number of investments.
Hilton has implemented a CRM system called Hilton OnQ to consolidate customer data and improve the guest experience. The system segments customers into four categories based on loyalty and spends data. It aims to recognize, personalize experiences for, and analyze individual customers. While the CRM system has helped Hilton outperform competitors, limitations include challenges in accurate data transfer and high operating costs. The document recommends optimizing internal management, utilizing big data and social media to improve personalization, and enhancing the mobile app and online travel partnerships to strengthen Hilton's CRM system.
This document discusses various aspects of international marketing planning and strategies. It covers:
1. The 4 phases of international marketing planning - preliminary analysis, defining target markets, developing a marketing plan, and implementation and control.
2. Alternative market entry strategies such as exporting, contractual agreements like licensing and franchising, and strategic alliances.
3. The evolution of global marketing approaches from standardization vs. adaptation to global integration vs. local responsiveness.
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The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
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2. History of Hilton in Havana
Figure 1: Hilton Havana Advertisement
US News and World Report March 28, 1958
• America imposed an arms embargo on the Cuban
government on March 14, 1958.
• The Habana Hilton opens March 22, 1958. At a cost of
$24M, the hotel was a partially owned asset.
• Castro enters Havana on January 8,1959. Suite 2324,
in the Habana Hilton, became his headquarters.
• Hilton managed the hotel until October, 1960, when
casinos were closed and all hotels were nationalized.
3. History of Hilton in Havana
Is Hilton ready to Gamble Again in Havana?
4. Financially Focused
• Outperform competitive set’s annual EBITDA and RevPar figures
• Increase long-term value by separating hotel, real estate, and
timeshare business segments into three separate companies
• Create cost efficiencies by driving business to preferred booking
channels
Current Strategic Objectives
5. Guest Focused
• Develop technology plans to enable state-of-the art merchandising
across all guest engagement channels
• Expand implementation of digital room selection process and check in
• Execute system-wide roll out of Digital Keyless Entry system
• Increase Hhonors program enrollments and enhance member
value-adds
Current Strategic Objectives
6. Team Member Focused
• Redesign compensation plans to align with financial goals and bias
performance
• Implement industry-leading benefits, including parental leave,
enhanced paid time off, GED assistance and flexible work programs
• Develop a robust talent, skill, and capability assessment process
• Establish one global platform for all training and curriculum
Current Strategic Objectives
7. Owner Focused
• Provide increased stakeholder value through Hilton Performance
Advantage Services
• Increase “repeat ownership” figures, of franchises, by providing a
diverse portfolio of brands
• Continue to grow the pipeline of 3rd party developed room inventory
• Increase conversion rate of competitor/independent hotels to Hilton
Worldwide brands
Current Strategic Objectives
8. Community Focused
• Create hospitality job opportunities through apprenticeship
programs, career engagement, and life skills training
• Strengthen communities through volunteer projects and
company-wide Global Month of Service
• Preserve the environment through company-wide conservation
efforts along with tracking and monitoring tools
Current Strategic Objectives
10. Global Expansion
How expanding into Cuba may affect work functions:
• Property Operations
• Brand Standards
• Global Development, Architecture, Design &
Construction
• Finance and IT
11. Global Expansion
• Human Resources
• Legal Compliance and Government Relations
• Commercial Services
• Time Share Operations
How expanding into Cuba may affect work functions:
12. Key Components for the Restructure
• Change Management Strategy
• The Hilton Leadership Team
• Five Key Components
• Post-rollout
Change Management Strategy
13. Assessment of the Change
• Identifying Obstacles
• Prospects of a successful restructuring
• Develop a strategy
• Document overall risk and specific risk
• Assess the readiness of the organizations impacted by the change
Change Management Strategy
14. Communicating the Plan
• Management to design a plan
• Communicating the plan
• Communicating risk
• Communicating benefits
Change Management Strategy
15. Training for Change
• Preparing for resistance
• Sponsor activities
• Sponsor roadmaps
• Understanding culture
Change Management Strategy
17. Recognizing Success
• After Action Review
• Avoid the Loss of Valued Employees
• Evaluate Success and Failures
• Identify Next Global Market Expansion
Change Management Strategy
18. Action Plan
• Phase 1 – Preparing for Expansion:
1. Develop a plan that focuses on finances, guest, team members
and owners
2. Develop a training curriculum for the management team
• Phase 2 – Managing Changes and Resistance:
1. Leaders will communicate expansion
2. Create job opportunities, hospitality, and employee training
3. Create volunteer projects
Change Management Strategy
19. Action Plan
• Phase 3 – Reinforcing Change:
1. Conduct surveys
2. Analyze all data collected and feedback
3. Recognize success
Change Management Strategy
23. Arthur, Luke(2016).,The Advantages and Disadvantages of International Franchises, Retrieved October 7, 2016, http://small
business.chron.com/advantages-disadvantages-international-franchises-22488.html
Global Hotels and Motels Industry Profile, New York: Datamonitor, 2015, Retrieved October 7, 2016, http://www.datamonitor.
com/
Heil, Karl (2016)., Strategy in the global environment., retrieved from http://www.referenceforbusiness.com/management/Str-
Ti/Strategy-in-the-Global-Environment.html
Hilton Worldwide About Us, “Executive Committee”, Retrieved October 7, 2016, http://www.hiltonworldwide.com/about/leade
rship/
Hilton Worldwide About Us, “Corporate Responsibility”, Retrieved October 3, 2016, http://cr.hiltonworldwide.com
Hilton Worldwdie About Us “ 2015 Annual Report” Retrieved October 6, 2016, http://ir.hiltonworldwide.com/financial-reporting
/annual-reports
References
24. References
Jones, G., & George, J. (2016). Contemporary Management (9th ed.). New York, NY: McGraw-Hill
Periu, M. February 9, 2015, American Express Open Forum “What You Should Know About Doing Business With Cuba”, Ret
rieved on October 7, 2016, https://www.americanexpress.com/us/small-business/openforum/articles/evaluate-cuba-opport
Prosci. (2014). The System And Tools For Managing Change. Retrieved From: http://www.change-management.com/tutorial
-change-leadership-mod3a.htm
Wall Street Journal October 2015, Accessed October 2016 http://www.wsj.com/articles/hilton-to-spin-off-hotel-properties-into
-real-estate-investment-trust-1450300095
Wallack, H. October , 2015, “SHRM Delegation to Cuba Finds Entrepreneurial Buzz in Havana and HR Issues Similar to U.S
.” Retrieved October 7, 2016, http://blog.shrm.org/blog/shrm-delegation-to-cuba-finds-entrepreneurial-buzz-in-havana-and
Editor's Notes
For the Week 4 Learning Team Project, Team “A” has selected Hilton Worldwide for a proposed expansion into Cuba.
The Habana Hilton opened in March 1958 –shortly after the US government imposed an arms embargo on the Cuban government.
The hotel cost $24M to build and was managed by Hilton, but, the bulk of the hotel’s financing came from an investment by the pension plan of the Cuban Catering Workers Union.
The hotel was operated as a Hilton until October 1960 – when the political situation between the US and Cuba escalated. The hotel was one of many nationalized by the government and was renamed the Hotel Habana Libre.
Financial - The company’s RevPar is revenue per available room. RevPar is calculated by dividing a hotel's total guestroom revenue by the total number of available rooms in the period being measured. EBITDA measures the company’s profitability and refers to earnings before interest, taxes, depreciation, and amortization.
Separation - The objective is to simplify “Hilton to a capital-light, fee-based business, while fully activating our real estate and timeshare businesses as stand-alone companies" . According to the Wall Street Journal, this is a strategy for companies that “want to slim down and improve their boost their stock” (Wall Street Journal October 2015)
Cost Efficiency - Wherever possible the company is trying to move bookings to their own channel – www.Hilton.com. The reason for this is to eliminate the additional costs that result from travelers making reservations through 3rd party sites. In order to encourage travelers to use the desired channels, Hilton is offering rate discounts to Hhonors loyalty program members who make their reservations through www.Hilton.com. The benefits are two-fold – elimination of bookings fees and, through loyalty program membership, Hilton gains the ability to collect traveler data and preferences.
Enhance technology to provide the ability to identify customers through collected data and predictive modeling. This will allow the company to leverage the information a “shopper” shares when they search the Hilton website.
Digital room selection is similar to what you experience when you select your seat on an airplane. Twenty-four prior to arrival, a guest is allowed to access the system and select a guest room from the system. The digital check-in process allows a traveler to check-in in advance of arrival at the hotel. The hotel will have a key packet ready. This reduces check-in time since the guest does not need to show ID, Credit Card, etc.
Hilton has Digital Keyless Entry in 100 hotels right now, but, the goal is to have it system wide by 2017. It means changing out the lock system on every single guest room door – which is a very costly process. Once the system is in place, it allows a traveler to use their hand-held device to open their guestroom door – instead of using a magnetic stripe key. Coupled with electronic room selection and check-in, using Digital Key will allow a traveler to completely bypass the front desk and go straight to their room upon arrival at the hotel. Zero wait time.
HHonors is Hilton’s guest loyalty program. The program currently has 50 million members. The objective is to continue to grow the program membership – to encourage repeat business and to reward travelers who continue to stay with Hilton properties. Hilton is also using HHonors as a way to move travelers to preferred booking channels (www.Hilton.com) by offering incentives like rate discounts, increased loyalty points, free internet access, etc.
Company is reevaluating compensation to ensure that salaries are fair for the market. Hilton is one of 29 companies to sign the White House's Equal Pay Pledge – which is intended to reduce the gender pay gap. Hilton is also working to ensure that global salary and increases are based strictly on job performance.
Fairly straight-forward. Implementing flexible work for HRCC (Hilton Reservations and Customer Care). HRCC is comprised of the large global call centers which take voice reservations. By allowing this group to work from home, the company will no longer need the vast office space occupied by the call centers – thus reducing overhead costs.
Hilton is working with a 3rd party company to develop assessment testing for each discipline. The way that they gathered the benchmark is by interviewing those with the very best and the very worst performance evaluations.
Training methods and curriculum differs from one country to another. The objective is to have one central training platform to promote a higher level of consistency in how business takes place at the property level.
Hilton Performance Advantage Services is a “toolkit” that is available to all franchise owners. It is comprised of: Hilton HHonors, Hilton Worldwide Sales, Hilton Reservations and Customer Care (HRCC) , Global Online Services, Revenue Management Consolidated Center (RMCC), Information Technology (IT) and Hilton Supply Management (HSM). These shared services basically provide owners with a turnkey product when they opt to invest and brand as a Hilton franchise property.
Approximately 76% of Hilton’s franchisees own more than one Hilton Worldwide branded property. Franchises require little to no capital investment from Hilton and the revenue from the franchise fees represents almost half of the company’s overall annual revenue.
Hilton brands operate at scale and, because of this, Hilton has large resources in place that can be used to drive demand in a market. Having more hotels in the pipeline represents increased franchise fees – which can then be used to enhance guest-related technology and also can be used to increase advertising/marketing.
Increased conversions, for example, a Marriott property becoming a Hilton, means increased franchise fees.
The travel and tourism industry will need to fill approximately 73 million new jobs by the year 2022. (Global Hotels and Motels Industry Profile, New York: Datamonitor, 2011). Hilton is trying to get ahead of the curve by investing in apprenticeship programs, career engagement and life skills training for young people.
Hilton encourages their team members to be active in their local communities. Each year, the company designates the month of October to participate in a global month of service. All team members are encouraged to volunteer eight hours of work time during the month of October.
Hilton’s environmental measurement tool, LightStay, tracks environmental and operational impact of taking place at the property level and in the Hilton corporate offices around the world. LightStay reporting and has enabled Hilton to reduce energy use by 14.5 percent, carbon output by 20.9 percent, waste output by 27.6 percent and water use by 14.1 percent since 2009, resulting in an estimated $550 million of cumulative savings. (Hilton Worldwide About Us, “Corporate Responsibility”, Retrieved October 3, 2016, http://cr.hiltonworldwide.com)
Combination of both Functional Structure & Geographic Structure
Going from Left to Right –
EVPs & Presidents of Americas, EMEA and Asia/Pac oversee the sales and operations functions for the owned and managed hotels in each of their regions. These are typically full-service branded hotels like Hilton, Waldorf Astoria, Conrad, Doubletree, Embassy Suites, Curio. Property-level General Managers oversee their hotels and report up to these three executives.
EVP of Global Brands oversees brand management, brand standards and customer marketing for the franchise hotels worldwide. Day-to-day operations, for franchise properties, are typically handled by an outside management company that the ownership selects. In the case of franchise hotel, you have an owner, a management company and Hilton – who provides the brand.
President of Global Development oversees the growth of the company’s footprint. He is responsible for expanding the development pipeline, overseeing architecture, design and construction of all hotels. This role ensures that the hotels are meeting or exceeding the minimum requirements put in place for the physical structure of any hotel which carries the Hilton brand flag.
EVP & CFO – Oversees the company’s global finance, IT and real estate functions. Note, our IT operations have been outsourced to Dell.
EVP and Chief HR Officer – oversees all HR functions for the company. Individual HR teams, at the hotel level, do not report up to the EVP, but, the EVP and his team create the policies and procedures which must be followed at all owned/managed hotels. Franchise hotels would follow the policies and procedures put in place by their respective hotel management company.
EVP & General Counsel – Oversees the company’s global legal, compliance and government relations functions. EVP acts on behalf of the owned/managed properties. Franchise hotels would need to find/utilize their own corporate counsel.
EVP & Chief Commerce Officer – This role oversees the global commercial team which included Above Property Sales, Revenue Management, regional marketing and eCommerce, and Hilton Reservations and Customer Care. Basically, this position oversees National Sales, Revenue Management, Marketing, Distribution and Customer Service.
President of Hilton Grand Vacations – Oversees all of the sales, marketing and operations for the global timeshare division.
Hilton Worldwide About Us, “Executive Committee”, Retrieved October 7, 2016, http://www.hiltonworldwide.com/about/leadership/
Property Operations - Power outages happen frequently in Cuba. Internet access is not widely available. There will likely be some challenges due to workers being from a Socialist environment – see notes in HR section on next slide. Will workers be willing/able to provide the service levels expected in Hilton properties? Will the hotels be able to maintain company values? Due to the poverty-level economy in Cuba, will theft be a problem?
Brand Standards – May be challenges delivering brand standards based on local fire code, insurance and safety regulations. For example, some of our hotels have a brand standard of having a microwave and refrigerator in each guest room. However, in some locations, due to local fire regulations, we must get creative, and place microwaves in a central location rather than in the guest rooms. There may need to be changes to Food & Beverage offerings based on local culture. For example, in Hampton Inns in Germany, we serve liquor. This is not a brand standard, but, due to local culture, it was added. See note re complimentary high-speed internet access under “Finance & IT” below.
Development, Architecture, Design & Construction – “Cuban-government holding companies retain majority ownership and control of all projects. While in theory, Cuba has permitted up to 100 percent foreign ownership of companies since 1995, in practice it doesn’t happen.” (Periu, M. February 9, 2015) It might be difficult to secure real estate and building supplies – and then break ground and adhere to Hilton’s building code requirements.
Finance and IT – “”The Cuban government has a poor track record as a borrower and business partner. Over the past five years alone, Cuba’s debtors have written off more than $40 billion in debt as uncollectible. This is equivalent to the U.S. failing to pay $8 trillion in debt.”” Regarding IT, most Cubans do not have internet access and to use it in an internet café costs the equivalent of a month’s wages. Offering complimentary high-speed internet access (brand standard) would be near impossible in the current environment.
(Periu, M. February 9, 2015, American Express Open Forum “What You Should Know About Doing Business With Cuba”, Retrieved on October 7, 2016, https://www.americanexpress.com/us/small-business/openforum/articles/evaluate-cuba-opport)
Human Resources – Fundamental HR concepts of equal work, equality, nondiscrimination, prohibition of child labor and protection of youth, guaranteed work periods, rest periods, and paid vacation, health and social security are in place in Cuba. But, wages are extremely low and the labor pool is untrained. Wage levels are set by the state and hiring of workers takes place through a state-run hiring agency.
(Wallack, H. October , 2015, “SHRM Delegation to Cuba Finds Entrepreneurial Buzz in Havana and HR Issues Similar to U.S.”)
Legal compliance and government relations – Again, issue of the Cuban government retaining the majority ownership and control of all projects.
Commercial Services – This area would probably see the least impact to Standard Operating Procedures. Commercial Services would only be effected if the hotel was unable to deliver on what was agreed upon on behalf of the hotel. For instance, if the national sales team books a large conference at the hotel and the property books something on their own, which conflicts, there would be an issue for Commercial Services. But, this is not something unique to Cuba. It happens in the US quite frequently.
Time Share Operations – Since the government still owns all of the property, I’m not sure that a time share operation is feasible.
Change management strategy are the collection of techniques and tools used for reducing and managing resistance to change when implementing an organizational restructure.
The Hilton Leadership team will apply the key components of change in order to drive the expansion to Cuba and ensure the project meets its intended outcomes. If the company adapts successfully to our change environment, the Hilton management team must understand the forces that operate in it and how these forces give rise to opportunities and threats.
We will follow five key components in order to a successful transition into the Cuban market and ensure the project meets its intended outcomes.
Change management will not end once we have established the Hilton Hotel(s) in Cuba. It is important to plan for the long-run adoption of change. As such, the change management plan should cover all phases of an initiative, including post-rollout and institutionalization.
Assessment of the change: To help inform the plan, the Hilton Leadership team will conduct a change readiness assessment, which establishes the organization’s current status and ability to change
We will identify any obstacles that will be faced when trying to implement expansion into Cuba. We will also assess whether our plan to expand provides serious and well-founded prospects of a successful restructuring within a reasonable period. In developing the strategy, the change management team will document the overall risk and specific risk factors.
Communication of Planning: The change management team or project leaders must design a communication plan that addresses the needs of front-line employees, supervisors and executives. We want to communicate with all employee’s clearly, we want to be sure that they understand risk and benefits of the expansion.
Training for Change: The company wants to be highly prepare for change and any anticipated resistance. Sponsor activities and sponsor roadmaps will be provided. It is critical that we create a coherent environment. Understanding the Cuban culture is also critical. Organizational culture is something to consider while changing management strategies especially in a different area, “organizational culture is the shared set of beliefs, expectations, values, and norms that influence how members of an organization relate to one another and cooperate to achieve the organization's goals(Jones and George, 2016)”.
Feedback Mechanisms: We will conduct surveys, interviews, and focus groups to assess the state of the employee engagement regarding the global expansion. With the data collected we will develop our corrective plan. Understanding engagement and how it effects employees and managers will better allow structuring of the organization based on economic, political, and social systems put in place across different countries, geographic regions, and cultures.
Globalization successes must be recognized and celebrated. Individual and group recognition is also a necessary component of change management in order to cement and reinforce the change in the organization. We will also identify process changes for the next country we will expand to. Although process changes will differ depending on market and culture, evaluating the SWOT per area and comparing to the next global market will make it easier for stakeholders to understand potential threats in relation to how they were handled in the last market.
We will apply the change management process in a sequence of steps. We will follow the three phases of the expansion to ensure our transition to Cuba is successful. Constantly evaluating processes will lower risks when moving to another global area, liaison roles, task forces, cross-functional teams, and integrating roles will allow managers to structure and distribute authority. As the Cuban market grows managers must increase integration and coordination (Jones and George, 2016).
Surveys will be conducted of team members.
All data collected with be scrubbed and analyzed. Survey results to be shared with team members.
Success will be publicly recognized and promoted.
“Businesses can choose to globalize or operate in different countries in four ways: trade, investment, strategic alliances, and licensing or franchising”(Heil, 2016).
The company can trade tangible or intangible goods. For example, Hilton could offer complimentary accommodations as part of a “trade”.
A company can choose to make foreign direct investments, which will allow them to control them to gain stock in order to control the companies.
Another way to control a companies assets in another country would be by forming strategic alliances. “Strategic alliances come in many forms, some enable each company to access the home market of the other and thereby market their products as being affiliated with the well known company”(Heil, 2016).
Licensing & Franchising would involve providing another company with the right to use resources such as copyrights, trademarks, and the brand name.
Strategic Alliances - enable a company to pass most of the difficulties of internationalization such as political, regulatory, and social conditions. The company has all access to the home market but can market their products at the international location.
New Markets –being in a new market is a strength. If you own a business already and then go international you may be able to bring in substantial profits.
Favorable Regulations – depends mostly on where you plan on expanding our business. You may be able to save money on taxes and fees due to regulations. Paying lower taxes can improve your business. Cultural differences can be a potential weakness. Just because you business is doing great in the U.S doesn’t mean it will become a hit internationally. Market research is a great way to determine if your business is desired in an international country.
Financial Risks - must be included in the plan when thinking about moving in the international direction. “For example, the exchange rates between currencies can either make or break your business”(Arthur, 2016). Getting the supplies needed for the business could be difficult. If you have to ship the product in, that would be a deduction for your business which is a loss of money.