...Company announcement After leading the company for nine years, in the CEO position, I´m announcing my intention to resign from my role. During my administration, we have been developed the company in 3 segments: management, strategy and human resources, reaching revenues of US $35 Mdlls. Our employee staff grew 40% full time and 60% part time. The overall financial health of the organisation has been strengthened. We leaded the organization to a period of growth and an enhanced capacity to service the different markets. The company need to follow with this trend. I have determined to prepare the long term strategy and assure the succession plan. After the evaluation of internal and external candidates, I decided that the best person for the business is one member of my team. I established the criteria, considering the skills, character and leadership of each individual. The new CEO needs to assure give the company the best possible chance of success for the next phase growth capitalizing the opportunities presented by the rapid changes in the human resources and training areas. I´m confident that we have the unique capacity to expand our offerings and leverage our products and service platforms to be a business partner for our customers and create value for our shareholders. Thank you for all your support and commitment to me and the company. Sincerely José Ramón González “KeyCorp Announces CEO Succession Plan,” KeyCorp press release, November 18, 2010, (https://www...
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...single sales division that reported to four five division heads at once. The company reward system was very complex. Employees working at Heward-Packard were not sure if performances were affecting their bonuses. Employees who are not sure if their performance or the company’s performance affects their bonuses this could employees to become disgruntled. 2. Describe how the company should attempt to correct each of the three most serious problems. In order to correct the strategic vision the CEO needs to define what the strategic vision is. Since the strategic vision is “digital, virtual, mobile, and personal” the employees need to understand how the vision works and that it is executed. Employees that understand the strategic vision will have a clear understanding of the vision. With a clear strategic vision the company can provide direction for future planning and goal setting. To correct the matrix structure a correct structure needs to be put in place. The CEO needs to establish which department responds to which division head....
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...Exam case “Strategic Leadership at Coca-Cola: The real thing” Assignment questions: 1. Analyze personal characteristics of top managers of Coca-Cola. How effective was leadership of Coca-Cola executives? What theoretical background you may apply to identify leadership styles of each top manager? Goizueta This person could be identified as a strategic leader, because his style of leadership was in changing Coca-Cola financially, organizationally and culturally. He combined best elements of managerial and visionary approach. He was focused on ideas and the future of organization and was known as business philosopher and emphasized the need for leaders to establish the sense of direction. He felt comfortable to “define the character of the company from his office” and gave people responsibility and authority to get job done e.g. left operational work to his CEE when he was focused on his own role with regard to brand building, making deals and selling concentrate.Goizueta were ready to change things and he considered Coca-Cola as too conservative and wanted to change things. He said, “The world is changing and we are not changing with the world.” Goizueta was also ready to take risks e.g. when he decided to put Coca-Cola trademark on a new product. Goizueta emphasized the importance of relationships and encouraged speedier decision-making. Ivester His leadership style could be described as managerial, (with some elements od strategic) because he focuses on both day-to-day...
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...the key value drivers of the organization and it helps IT recognized other business areas which enhance the cooperation among departments. Besides, it would help the company to get to know the needs of the customers and expectations. It might also provide better financial data. 2) In BIOCO way, the company’s vision and strategy are translated into a long-term corporate strategic plan, which in turn is used to design the corporate strategy map. I think it helps the IT department align its goals with it because the balanced scorecards help the departments look beyond their own operation and enhance their cooperation with each other and IT department is not an exception. Using the cascade of balance for each department and knowing how the strategies should be done and assessed in different levels help analyzing the performance of the department; hence for IT department, it helps to have clear ways and meet the company’s demand for the business plan of the company. Therefore; IT has an important role to enhance the communication and cooperation among the departments and make the new way more adjustable for the company. 3) It highly depends on the strategy and vision of a company. But in my point of view; it is hard for a big companies to adjust to this plan because this plan needs the full integration and communication among the departments and large company mostly are decentralized and integration among them are difficult. So if a large company wants to implement BIOCO approach...
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...CH1-2)how does strtegic management evolve in corporation?its because of changes of technology advances in the world and the competition of market places. 1 . Why has strategic management become so important to today 's corporations Strategic management involves the assessment of inner and outer environment of the organization . The purpose of strategic management is to evaluate the strengths and weaknesses as well as identify opportunities for and threats to the organization . Strategic management is highly important in corporations at present because it determines strategies and approaches to employ in to ensure success in the industry . Strategic management oversees strategic planning which formulates business operations , policies , and practices , that corporations should observe in to reinforce strengths , eliminate or transform weaknesses intro strengths , identify and obtain opportunities for development , and determine and prevent risks. 4 . Why are strategic decisions different from other types of decisions Strategic decisions are decisions made by corporations applicable to all aspects of the operational environment in to make sure that direction is leaning towards the realization of organizational goals and objectives . It includes decisions based on a thoroughly formulated plan that looks into the identification of risks and prevention of loses Strategic decisions are aimed at how corporations will run the business in to stay within the corporate arena competitively...
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...» THE HIGH-PERFORMANCE ORGANIZATION 64 HARVARD BUSINESS REVIEW Companies typically realize only about 60% of their strategies' potential value because of defects and breakdowns in planning and execution. By strictly following seven simple rules, you can get a lot more than that. TURNING GREAT STRATEGY INTO GREAT PERFORMANCE by Michael C. Mankins and Richard Steele hree years ago, the leadership team at a major man- ufacturer spent months developing a new strategy for its European business. Over the prior half-decade, six new competitors had entered the market, each deploying the latest in low-cost manufacturing technology and slashing prices to gain market share. The performance of the European unit - once the crown jewel of the company's portfolio-had deteriorated to the point that top management was seriously considering divesting it. To turn around the operation, the unit's leadership team had recommended a hold new "solutions strategy"-one that would leverage the business's installed base to fuel growth in after-market services and equipment financing. The financial forecasts were exciting-the strategy promised to restore the business's industry-leading returns and growth. Impressed, top management quickly approved JULY-AUGUST 2005 65 » THE HIGH-PERFORMANCE ORGANIZATION Chemical, 3M, and Roche, to name a few-develop realistic plans that are solidly grounded in the underlying economics of their markets and then use the plans to drive execution...
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...Study: Wal-Mart DeLeon A. Rich Management and Strategy Webster University May 15, 2013 Table of Contents Table of Contents 1 Introduction 2 Wal-Mart’s Threats and Challenges 2 Priorities of Wal-Mart CEO during the October Address 2 Wal-Mart Board’s Strategic Initiatives 3 Recent Wal-Mart Initiatives 4 Recent Initiatives 4 Comment: Strategy 5 Comment: Personal Relations 5 Wal-Mart’s Social Challenges 5 Conclusion 5 References 5 Introduction Every business organization in the contemporary world continues to face serious challenges and turbulences. Such challenges and turbulences have called on to business enterprises to re-structure and re-engineer their strategic plan in order to establish effective strategic initiatives. Dynamisms and increased competition are some of the challenges that business enterprises continue to face. One example of a business enterprise that has had to re-structure and re-engineer its strategic plan amidst increased dynamisms and competition with Wal-Mart. Late in 2005, Wal-Mart announced a series of sweeping new strategic initiatives. Such strategic initiatives are aimed at enhancing the position of the business within the industry and the market as well as performances. This case study provides an in-depth analysis of Wal-Mart in respect to its current strategy and challenges. Analysis of the threats and challenges coupled with priorities that Wal-Mart CEO, Lee Scott set in the address on “Twenty-first century...
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...Strategy & Performance Management at Siemens Belux and the role of the Management Cockpit War Room. An interview with Guy Bourdoni, Chief Consultant, Siemens Belux by Juergen H. Daumii (http://www.juergendaum.com/) Since the fiscal year 2002, Siemens Belux no longer operates on the basis of traditional financial reporting and variance analysis, but instead based on a strategy-oriented, KPI-based management process. The most visible embodiment of this process is the Management Cockpit War Room in the basement of the Siemens Forum in Brussels, the headquarters of Siemens Belux. Here, the management holds quarterly controlling meetings with the different divisions, as well as adhoc crisis meetings. The introduction of the new management process and the Management Cockpit War Room has significantly changed the working methods of management, which have become more efficient and more effective as a Guy Bourdon consequence. In the following interview, conducted in March 2005, Guy Bourdon, the initiator of the new management process and person responsible for introducing the Management Cockpit War Room at Siemens Belux, speaks to Juergen H. Daum about the motivation behind the new management process, the use and introduction of the Management Cockpit War Room concept, and the results that have been achieved. Portrait Siemens Belux: Siemens Belux is the Siemens group holding for the region of Belux (Belgium, Luxembourg) and West & Central Africa. The region generated revenue of...
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...Corporate Strategies MGT/230 November 24, 2014 Corporate Strategies Strategies During our group discussion, it was agreed that all the CEO’s in the video valued their employees and treat them as a team. They all found a way to take advantage of their employees in a way that would result in positive effects for their companies. The strategy each CEO chose to take resulted in a respect among the higher level employees and the lower level of employees. The two corporate strategies the four CEO's talked about were Top Down and Flat. The CEO's talked about how each strategy had its own uses and how each may provide different results. While watching the videos, it was noticed by our group, that the four CEOs discussed the top-down corporate strategy more than any other. Our group also agreed that the Top Down strategy was the preferred approach among the employees. One of the CEO’s talked about how it allowed for a quicker way to find the talent amongst the employees and how people feel they can reach out with problems or information to their managers. This created a way for the department or company to find a better way to get things done. Other CEO's talked about how the Top Down approach was a way for managers and subordinates to work on a team level and all would hear the ideas expressed. This would help decisions be made that would cause better results for the company. In this type of work environment, employees are given a certain amount of...
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...Management Control System TASK 6 REPORT CASE 8.2 “Hasbro Interactive” By : Group 1 Nadya Azahra Rangkuti (023100004) Hanna Dwina Putri (023100066) Fahrina Trinandasari (023100117) Felisitas Yola (023100184) Gabriella Rahajeng Putri (023100208) Trisakti University 2013 CHAPTER I INTRODUCTION A. Background of company In 1923, three brothers, Henry, Hilal, and Herman Hassenfeld, founded Hassenfeld Brothers, a company selling textile remnants, in Providence, Rhode Island. Over the next two decades, the company expanded to produce pencil cases and school supplies. In 1926, Hassenfeld Brothers was incorporated with Hilal leaving for another textile business while Henry took charge of the corporation. With cost of pencils rising and their pencil supplier making pencil cases, Hassenfelds began making their own pencils becoming a source of funding for future lines. In the 1940s, Hassenfeld Brothers produced doctor and nurse kits, its first toys and modeling clay becoming a primarily toy company by 1942. In 1960, Henry died and Merrill took over the parent company and his older brother, Harold, ran the pencil-making business, Empire Pencil. Hassenfeld Brothers expanded to Canada with Hassenfeld Brothers (Canada) Ltd. in 1961. Having previously sold toys under the Hasbro trade name, the company shortened its name to Hasbro Industries in 1968 and sold a minor stake in the corporation to the public. Between 1978 and 1981, Stephen reduced...
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...written by David Yoffie and Michael Slind published by Harvard Business School (Yoffie, et al., 2008). The following paper examines in detail the strategies utilized by the company as outlined in the strategic management steps. Several recommendations are also proposed to handle the issues surrounding the organization. Summation Apple Inc. was created by two college dropouts, Steve Jobs and Steve Wozniak and later joined by A.C. Markkula, Jr; they created the company with one circuit board (Apple I) and turned into 200 sales within two months time (Yoffie, et al., 2008). The company developed a premium-price differentiation strategy; in which two years later, Apple II was introduced to the world. Apple II tripled company sales to more than 100,000 in less than two years compared to Apple I (Yoffie, et al., 2008). This paper analyzes and reviews the strategies utilized by Apple Inc. based on my comprehension of strategic management; and propose recommendations for several problems that Apple faced to become a successful billion dollar company. Situation and Pending Decision Analyzing the case presented a huge problem for Steve Jobs and his management team, was the company’s success acquired recently a temporary “up” in this fluctuated industry, or did he finally integrate a strategy for the company – premium-price strategy (Yoffie, et al., 2008, p. 15). The pending decision problems...
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...company or firm. Ethical standards are set by the owner or CEO and filter down through the rest of the company. The owner’s, or CEO’s, behavior toward employees, customers, the community, investors, and vendors affect the behavior of his employees. The employees look to the CEO to set the standard. “Observing high ethical standards is sound business strategy -- resulting in customer loyalty, higher employee retention and a positive image in the industry and within the community” (Hill, 2015). One of the most well known companies that did not live up ethical standards was Enron. Ethics come into play on many fronts. When developing a strategic plan ethics must be considered from the earliest stages. If it is the first or the last plan that a company develops does not matter. Long term plans and visions must take into consideration what the ethical base of the mission statement will be. A company that does not take ethics into consideration during the earliest stages of planning opens itself up for failure. It is also important to create a code of conduct to provide direction about how employees should act in situations they may encounter. Ethical choices can sometimes be personally challenging because adhering to a high ethical standard may mean not achieving goals set for them. Another front where ethical standards are important is customer relations. During the planning process it is important to develop strategies to increase customer satisfaction. This will then lead to repeat...
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...Levendary Cafe: The China Challenge Case Analysis Levendary Cafe entered into the fast growing China market and instead of keeping their established US concepts intact they changed the store design and menu selections in order to align themselves with the culture of the Chinese people. Although the strategy has proven successful, the American headquarters, prompted by the new CEO, opine that their operational concepts should remain globally intact. In my opinion the main issue in this case is not the entry strategy of Levendary Café into China but a serious communication breakdown in the organization exemplified by the following factors: 1. Management style differences. CEO Leventhal was very hands off with Chen and obviously allowed Chen to have full control over the operations and strategy for China. This differs from Foster’s management style which is more corporate control driven and focused on standardization. 2. Culture differences. It is naïve to ignore cultural differences when globalizing any organization which is the stance taken by the new CEO and the American headquarters. 3. Limited international experience. China is only the second international market that Levendary Café has entered into besides their partnership in Dubai. So, organizationally, they lack globalization experience and this is compounded by the new CEO’s lack of international experience and specifically her unfamiliarity with the China market. Foster should proceed with caution so that...
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...structured with the vision of the company(Coke 2007). They also need a strategy to convey this change to the employees. There is a technical issue there because they had no way of linking with the employees through video, audio, and email (Coke 2007). CCE had to outsource the technical portion to Cisco’s Internet Business Solutions Group (IBSG) so that they could get the technical support they needed to get connected to their employees(Coke 2007). They also came up with a communication council to work on the communication issues within the company. In February 12, 2007 Brock had his first live chat from Atlanta and got a nearly 90 percent employee satisfaction with the new communication. The employees being able to see and listen to the CEO made it personal for the employees and they felt like the CEO cared. Immediate feedback through management survey had a positive response(Coke 2007). There is an eight step process for creating effective Internal Communication Plan (Pophal): * Situation analysis/background this should provide a high level overview of the situation or communication needed to understand the situation(Pophal). * Quantifiable objectives/goals identify objectives/goals that indicate the “end state” needed to achieve your goal(Pophal). * Target audience who are you trying to reach to achieve the goals(Pophal). * Key messages give specific goals for communication(Pophal). * Strategies and tactics to meet objectives/goals identify the ends points that...
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...Middlefield Hospital Strategies and Recommendations Background: Middlefield Hospital is a 450-bed tertiary care facility in a major urban area in the Northeast. The hospital is an integrated health system that provides the full array of inpatient and outpatient services. The hospital enjoys a reputation for quality care in the area. Problem: As the new CEO, I have learned that the hospital's employee turnover rate exceeds 20%, and there are over 100 nursing vacancies. I have also learned the following facts that may be impacting these workforce shortages: A new hospital has recently opened in your market area that has produced competition for Middlefield Hospital. Employee morale has deteriorated over the last 12 months. Essex University (a local college) is considering eliminating its nursing degree program because there is continual difficulty in recruiting well qualified instructors. Discussion: In order for Middlefield Hospital to remain in business, we must offer cost effective quality care to our customers. We must also change our operational strategy to develop a new strategic marketing plan for offering services in our community. This will require us to think out of the box when it comes to investing in our employees in order to retain the best and brightest for the future of our company. In addition, we must improve our community relations and form a strategic alliance with the local university to ensure the pipeline of new recruits continues to...
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