...prices and operational cost. However, in the United Arab Emirates, has been experienced growth and this has a direct concern to the threat of competition to Qantas (Vesperman, Wald & Gleich 2008, pp. 388-394). All these factors above are a contributed force to Qantas to remain competitive. This paper seeks To address the approaches that should be engaged by Qantas that are necessary to ensure ongoing competitive advantages for the future of the airline industry within this hypercompetitive environment. 2. Strategic Management and Strategic Competitiveness Strategic management is a continuous process that involves reviewing and directing the activities of a business and the environment threats and opportunities within which it operates. Strategic management has grown from an initial emphasis on planning to become a broad management approach that helps organisation, align its direction with its objectives to attain strategic competitiveness. Strategic competitiveness refers to the A competitive advantage is achieved when a firm produces at lower operation costs compared to the other players...
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...in the 21st century's global economy will be complex, challenging, and filled with competitive opportunities and threats.” (Ireland & Hitt 2005, p. 63) In Ireland and Hitt’s paper, they discussed that today’s organizations are undergoing a challenging environment which is competitive and filled with changes. In order to improve the performance and success in this environment, organizations would need effective strategic leadership. It has also found that in the last few years, there have been explicit contributions from researches which help the managers to adapt today’s business environment by understanding and implementing the strategic leadership (Mary et al, 2008). This paper will discuss strategic leadership by introducing the definition of the strategic leadership as a start. The paper will then analyse what does the strategic leadership mean to the organizations and explain why organizations need strategic leadership in three angles: the change of business environment; the inadequacy of traditional management role for organizations; the importance of strategic leadership in terms of organizations’ strategy implementation. Furthermore, this paper will discuss three implications that the strategic leadership could bring to organizations from the perspectives of: stakeholder, business culture and globalization, respectively. The paper will also give examples for each implication to illustrate why organizations would be benefit from good strategic leadership from all...
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...determines the sustainability of the company in the ever dynamic and competitive business environment. Whether inward out (resource based) or outward in (market based), competitive strategy is cardinal to the continued existence if the firm. Since successful strategies are those which adapt firms to the opportunities and threats in their markets/environments and which develop their internal capabilities, it means that in order to remain relevant, firms must adopt strategies suitable and consistent with the market changes, its development and the environment at large, either responsively or proactively. The business environment has by no means been stable, with each era presenting its own set of problems and need for adaptability. Strategic approaches and fits in the 1800s, 1900s,...
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...exists between Woolworths and Wesfarmers (Coles), the notion of competing duopolies and the role that management plays in the process. The purpose of this essay is to discuss competing duopolies and how they impact on the development of an organisation’s strategy and implementation. In a duopoly two firms compete for market share, so strategic thinking by management plays an important part in strategy development and the creation of a competitive advantage. Strategic thinking allows management ‘to more fully capture and analyse the relevant forces creating new market opportunities and business strategy requirements’ (Cravens, Piercy & Baldauf 2009, p.32). Woolworths has for many years been the dominant player in the Food and Staples Retailing Industry but since Wesfarmers’ takeover of Coles, Woolworths has had to be more on the defensive matching Coles in its low-cost pricing strategy on many product items (Sell on News 2011). Whilst Coles is trying to regain market share within its supermarket division, Woolworths is endeavouring to develop operational scope in the area of hardware, where Coles has held a monopoly situation (Sell on News 2011). In competing duopolies, the quality of the management team and their ability to provide future guidance to the organisation becomes the critical component that differentiates each firm’s performance (Sell on News 2011). Woolworths employs a cost leadership strategy within its supermarket division, it sells standardised products (but with a competitive...
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...Strategic leadership capabilities Hitt et al. (1998) and Ireland and Hitt (1999) described the capabilities needed for effective strategic leadership in the new competitive landscape expected for the 21st century. They argued that effective strategic leaders had to: (1) develop and communicate a vision, (2) build dynamic core competencies, (3) emphasize and effectively use human capital, (4) invest in the development of new technologies, (5) engage in valuable strategies, (6) build and maintain an effective organizational culture, (7) develop and implement balanced controls, and (8) engage in ethical pratices. 4.1. Develop and communicate a vision First, strategic leaders–—hopefully in concert with others in the organization–—must develop a vision and communicate that vision broadly, to help guide the formation and implementation of strategies to achieve that vision. This form of guidance is important to establish the direction of the organization for its growth, types of products, and market focus, and to achieve the desired targets. Without the guidance provided by a vision, organizations can become chaotic and are unlikely to be as successful. 4.2. Build dynamic core competencies A core competence is a major capability to perform important tasks (e.g., a function) quite well, and makes a valuable contribution to a firm’s competitive advantage. A dynamic core competence implies that the firm continues to develop and update the competence to be the leader...
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...venture, gathering the necessary resources and assuming the associated risks and rewards. There are common traits associated with an entrepreneur, most entrepreneurs tend to: * Tolerant of ambiguous situations * Resist conformity * Enjoy risk-taking * Self-reliant, dominant and independent * Be interpersonally aloof yet socially adroit * Adapt readily to change The importance of entrepreneurship for economic development has been widely acknowledged in recent times. Entrepreneurship is assumed to be a major source of innovation, job creation and growth (Kunene, 2008). According to the SBA factsheet 2010/11, SME’s account for over 99% of the firms in the U.K and over 50% for total employment and value added. In the 21st century, entrepreneurs need certain skills and competencies. Due to the rapid and constant change in the business...
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...management, in a sense means getting things done by its people. It is an essential role that is eventually played by every manager. HRM is basically about how one manage its people in a effective way in order to gain more productivity and HR means ‘human resource’ that show the people viewed as a resource in an organization, if effectively managed can bring productivity and can be a competitive advantage for an organization. Before putting an argument on how HRM is influencing in a competitive world we need to realize that HR is more than maintaining personnel functions. Corporate and economic development dictated that businesses to remain competitive, needs to view HRM as an evolutionary function. In this essay certain issues and challenges have been discussed that influence HR to remain competitive in this modern world. Firstly it is told about employees are the competitive advantage of a company and to manage it effectively is the primary goal of an organization. This essay is also about how workforce diversity can bring positive and negative impact on organization it is also about how rapid technological changes and globalization had bring challenge for HR professional. The basic point on which this essay focus is about how HRM is actually influencing in the competitive world. In this modern world, where company’s competitive advantage is its employees, their HR has to act as a strategic partner, According to Herzberg views competent employees are the hygiene factors and...
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...literature in the 1980s. The aims of our paper are to render in brief the concept of global strategy and to highlight some of the main strategy. Our paper contributes to a better understanding of the global strategy concept, and its designing and implementation in the business corporate world. Further studies can be carried on in emphasizing the role played by global strategies in achieving high performance in a changing environment. © 2013 The Authors. Published by Elsevier B.V. © 2013 The Authors. Published by Elsevier B.V. Open access under CC BY-NC-ND license. Selection and peer-review under responsibility of Faculty of Economic Sciences, Lucian Blaga University of Sibiu. Selection and peer-review under responsibility of Faculty of Economic Sciences, Lucian Blaga University of Sibiu. Keywords: global strategy; corporation; business; Nissan. 1. Introduction As the process of globalization has entered a new phase in the 21st century, many corporations think of expanding to new locations because of different issues related to efficiency, market share, profitability and growth. offer very diff performance while making strategic choices of a country or a geographic region in a highly competitive * Corresponding author. E-mail address: tomagsorin62@yahoo.com 2212-5671 © 2013 The Authors. Published by Elsevier B.V. Open access under CC BY-NC-ND...
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...Integrating entrepreneurship and strategic management activities to gain wealth: CEOs' perspectives. Authors: Hagen, Abdalla Tootoonchi, Ahmad Hassan, Morsheda Pub Date: 01/01/2005 Publication: Name: Advances in Competitiveness Research Publisher: American Society for Competitiveness Audience: Academic; TradeFormat: Magazine/Journal Subject: Business; Business, general; Business, internationalCopyright: COPYRIGHT 2005 American Society for Competitiveness ISSN: 1077-0097 Issue: Date: Annual, 2005 Source Volume: 13 Source Issue: 1 Topic: Event Code: 200 Management dynamics Computer Subject: Company business management Geographic: Geographic Scope: United States Geographic Code: 1USA United States Accession Number: 138408287 Full Text: ABSTRACT This study explored means and ways that can help CEOs achieve wealth for their firms in the era of globalization. Using a sample of CEOs of MNCs, the findings of this study indicated that the majority of the CEOs agreed that many of the activities undertaken by organizations in an attempt to achieve wealth occur within six domains: Innovations, networks, internationalization, organizational learning, top management team and governance, and growth orientation. Critical challenges facing top management and the suggested recommendations were acknowledged by the participating CEOs. INTRODUCTION There is a general agreement regarding positive effects entrepreneurship has on firms' efforts for creating wealth (Lyon,...
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...Human Resources Management Contents Executive Summary 3 Strategic Functions of HR 4 Recruitment & Selection 4 Safety 5 Relationship with Employees 5 Performance Management 5 Benefits and Compensation 6 Training and Development 6 Strategy based HRs 6 HR Planning and Organization's Objectives 7 HR Purpose Statement 7 HR Mission Statement 8 HR goals 8 Action Plan for each Functional Area 10 Reference...................................................................................................................................... 11 Executive Summary Company ABC is a large company based in the US. The company has been targeting the business of Human Resources Outsourcing nearly for 30 years now since it was established. It is now ranked one of the leading firms in Human Resources Outsourcing industry in US. All these achievements have been achieved due to its ability to provide comprehensive human resources outsourcing solutions not only to large firms but also to the small to medium-sized companies. This is the core competitiveness of Company ABC The company is currently experiencing growth which enhances its current dominance in the domestic market due to expansion in operations. Due to this expansion, the company has been consistently experiencing an increase in operational cost. This is due to numerous branches that have been opened across the country. This brought difficulty in management and as a result the department decided to establish a shared center where...
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...UNIT 1 i Overview of strategic management Unit 1 BMG 303/05 Strategic Management Overview of Strategic Management ii WAWASAN OPEN UNIVERSITY BMG 303/05 Strategic Management COURSE TEAM Course Team Coordinator: Dr. Chuah Poh Lean Content Writer: Dr. Hasliza Abdul Halim Instructional Designer: Mr. Khoo Chiew Keen Academic Member: Ms Lum Li Sean COURSE COORDINATOR Ms. Loo Saw Khuan EXTERNAL COURSE ASSESSOR Associate Professor Dr. Haji Hamzah Dato Abdul Rahman, Universiti Utara Malaysia. PRODUCTION Editor: Pelangi Sdn. Bhd. In-house Editor: Mr. Khoo Chiew Keen Graphic Designer: Deam Enterprise Wawasan Open University is Malaysia’s first private not-for-profit tertiary institution dedicated to adult learners. It is funded by the Wawasan Education Foundation, a tax-exempt entity established by the Malaysian People’s Movement Party (Gerakan) and supported by the Yeap Chor Ee Charitable and Endowment Trusts, other charities, corporations, members of the public and occasional grants from the Government of Malaysia. The course material development of the university is funded by Yeap Chor Ee Charitable and Endowment Trusts. © 2013 Wawasan Open University All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission from WOU. Wawasan Open University (KPT/JPT/DFT/US/P01) ...
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...business risk, 2) decreasing ability to forecast, 3) fluid organizational and industrial boundaries, and 4) a managerial mind-set that demands unlearning many traditional management practices. Researchers and practitioners have proposed that organizations with an entrepreneurial strategic posture will be able to compete in such dynamic markets. Researchers and practitioners have also called for a new type of person to lead these organizations in the new dynamic market arena. They have coined this new person as the “entrepreneurial leader.” This paper will offer an operational definition of the term “entrepreneurial leader” based on the conceptual literature in leadership, entrepreneurship and the results of a pilot study. Executive Summary This paper attempts to explain that today’s markets can be best described as dynamic in nature. Regardless if the organization is established or a new venture they need to be able to deal with a dynamic market that is primarily revolutionary rather than evolutionary in nature. Researchers and practitioners have proposed that organizations need to have an entrepreneurial strategic posture that allows them to compete in such a dynamic market. An entrepreneurial strategic posture means that the organization needs to be innovative, risk-taking and proactive. Researchers and practitioners have also called for a new type of person to lead these organizations in the new dynamic market arena. They have coined...
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...Examining Emotions, Attitudes, and Job Satisfaction Examine the approach Trader Joe’s uses to promote a positive work environment for its employees. Determine at least three (3) ways in which Trader Joe’s is able to increase job satisfaction and performance. What is the relationship between job satisfaction and job performance? Before we can find a connection between the two, we must first examine how attitude influence behavior. An attitude refers to a “predisposition to respond positively or negatively to someone or something” (Schermerhorn, Osborn, Uhl-Bien, & Hunt, 2012). In other words, it is the way we feel about various things in our environment (e.g. people, school, or work). At work, for example, our attitude depends on how we feel about being there, which influence how we behave. One of the most common job attitudes is job satisfaction. Job satisfaction refers to the feelings or attitude a person has toward their job, either positive or negative (Schermerhorn et al., 2012). There are many factors that are able to affect the satisfaction level within a work environment. Smith, Kendall, and Hulin (1969) designed the Job Descriptive Index to measures these factors. The JDI measures five facets, including satisfaction with: the work itself, quality of supervision, relationship with co-workers, promotion opportunities and pay. These components are important for managers and leaders to be concerned with because they often determine the success of an organization...
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...Identify an episode of strategic change for an organisation of your own choice. How appropriate was the approach to strategic change given the issues faced by the organisation? Critically evaluate the effectiveness of the strategic leadership during the change process. Identify the impact of the change episode upon the key resources and core competencies of your organisation. This paper will analyse a recent period of strategic change at The Walt Disney Company which began in 2005 with the appointment of current CEO Robert Iger. The company began to experience halted growth during the late 1990s. The former CEO Michael Eisner had been successful himself in the late 1980s in changing the company during what is known as the Disney Renaissance. Eisner successfully concentrated the company’s energy back into producing animated films and helped the company to create now-classic names such as The Little Mermaid, Beauty and the Beast, The Lion King, Aladdin and others. However starting in 1999 share prices began to fall as changes in Disney’s competitive environment, consumer preferences and technology combined to alter its strategic context – which posed problems for the company in aligning its strategic objectives with its organisational structure and culture. Eisner was well known for his micromanagement and top down approach to management (Gunther, 1999), which served the company well during the 1990s when he could focus on single brands. The production of animated feature films...
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...Bruce W. Jentleson Strategic Recalibration: Framework for a 21stCentury National Security Strategy T he release of the Obama administration’s 2014 National Security Strategy comes amidst increasing criticism of its strategic savvy. Some are rank partisan, some Monday-morning quarterbacking. Some, though, reflect the intensifying debate over the optimal U.S. foreign policy strategy for our contemporary era. At one end of the debate are those advocating retrenchment, who see limited global threats on one hand and prioritize domestic concerns on the other—be they the budget-cutting of the Tea Party right or the nation-building-at-home of the progressive left. At the other end are neoconservatives and others pushing for re-assertiveness. This is based on a bullish assessment of U.S. power and the contention that it still is both in the U.S. national interest and that of world order for the United States to be the dominant nation. While retrenchment overestimates the extent to which the United States can stand apart, reassertiveness overestimates the extent to which it can sit atop. The United States must remain deeply and broadly engaged in the world, but it must do so through a strategy of recalibration to the geopolitical, economic, technological, and other dynamics driving this 21st-century world. This entails a re-appraisal of U.S. interests, re-assessment of U.S. power, and re-positioning Bruce W. Jentleson is a Professor at Duke University, Sanford...
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