...Module Page Strategy definition 1 Strategy evolution 1 Carl von Clausewitz 1 Adam smith 1 insivible hand 1 Competitive strategy 1 19; 20 Mintzberg 1 day-to-day operations vs strategy 1 Operationnal effectiveness vs strategic positioning1 Productivity frontier 1 mission, company 1 vision company 1 Strategic planning process 1 Leadership vs management 1 management vs leadership 1 Leadership definition 1 ethics and leadership 1 leadership and ethics 1 Friedman, 1 neoclassical economy 1 Sociioeconomic view of ethics 1 Stratetgy approaches 1 Appraoches to strategy 1 Rational approach, strategy 1 Ansoff 1 Processual approach 1 Loigcal incrementalism 1 planning vs crafting 1 crafting vs planning 1 Rational approach vs processual 1 evolutionary approach 1 Systemic approach 1 Startegic thinking 1 Strategic thinks vs planning 1 Startegic planning vs thinking 1 thinking vs planning 1 planning vs thinking 1 Fit vs stretch 1 Stretch vs fit 1 Levels of strategy 1 strategy level 1 Corporate strategy 1 Business strategy 1 functional strategy 1 global context of business 1 globalisation drivers 1 Competitive forces 1 technological forces 1 social forces 1 political forces 1 Globalisation challenges 1 Competition 1 distribution 1 macro-economic 1 socio-economic 1 financial 1 legal 1 Physical 1 Political 1 sociocultural 1 labour 1 technological forces 1 Globalisation benefits ...
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...Maria Eriksson - 890131-4701 – group 19 Leax Group – Strategy and technology 1. Analyze Leax environment and identify 3-5 key trends. To describe the macro environment for companies and countries, the PESTEL-theory can be applied. This is a standard environmental analysis, and the elements influence the possible success or failure in a strategy. This framework contains the pieces of political, economic, social, technological, environmental and legal elements. (Fundamentals of strategy: p25 & p218) In the first period of Leax group’s existence, the company had a strong economic growth. Compared to competitors Leax was growing both in size and stability. Even in the economic crisis, Leax had better results than most competitors. Leax is one of the strongest companies in the industry. They are focusing on having a wide customer range and they have many various costumers that differ in both size and stability. They have also expanded into more industries and countries than was initially planned, which makes their social element strong and broad. One of the reasons why Leax is successful is because of the big focus on being up to date with technology, IT and knowledge. They are focusing on quality, which benefits in efficiency and reliability. This is also beneficial when accessing new industries in order to be able to compete with existing companies. Leax group is dependent on good personnel and highly values the well being of their staff. They are doing...
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...and resistance and environmental uncertainty. 1. Formulation and implementation are separate. • Strategic planning, role of CPA, 7-S model, performance management, reward systems, information systems, managing teams, managing culture, managing across cultures, organisational design, managing the politics of strategy implementation. • Leading the implementation, importance of leader, style, transformational leadership, role of leader in ( thinking, analysis, direction, development and implementing) • Overcome resistance. • Future challenges, pace of change, globalisation and technology. -Review • Ongoing the dynamic process to implement strategy, constant planning and monitoring and adjustment. • Flexible and adaptive, comfortable with ambiguity and complexity, remember strategy planning is a routine, not a one off. • Wildly used method for the implementation, 7 S and eight S model. They set out the key variables that must all be managed and aligned. • Balance scored card as a key performance management tool. • Reward and information system etc. • Techniques for developing a strategy supportive culture, and advantages of strong culture. • Global focus, for cross culture issue, must understand a culture before entering. Globalization brings the ease of moving professionals. • Most organisation use a hybrid form. • Political nature of organisations. • Role of leadership,...
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...A business strategy is concerned with major resource issues e.g. raising the finance to build a new factory or plant. Strategies are also concerned with deciding on what products to allocate major resources to - for example when Coca-Cola launched Pooh Roo Juice in this country. Strategies are concerned with the scope of a business' activities i.e. what and where they produce. For example, BIC's scope is focused on three main product areas - lighters, pens, and razors, and they have developed super factories in key geographical locations to produce these items. Two main categories of strategies can be identified: 1. Generic (general) strategies, and 2. Competitive strategies. The main types of generic strategies that organisations can pursue are: 1. Growth i.e. the expansion of the company to purchase new assets, including new businesses, and to develop new products. The Inland Revenue has expanded from being just a tax collector, to other functions such as collecting student loan repayments and paying tax credits. 2. Internationalisation/globalisation i.e. moving operations into more and more countries. For example companies like Gillette, Coca-Cola, Kellogg's, and Cadbury Schweppes are major multinationals with operations across the globe. 3. Retrenchment involves cutting back to focus on your best lines. The Americans refer to this as 'sticking to the knitting' - i.e. concentrating on what you do best. Competitive advantage Competitive strategies are also important...
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...Question: For an industry of your choice, identify and analyse the most important drivers and barriers affecting its development. Answer Drivers and barriers affecting development of any industry revolve in the fraternity of globalization. Globalisation in business is the worldwide movement toward economic, financial, trade, and communications integration (Frank, 1998). It implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers. Drivers in the business concept are critical forces which can be built within business strategy to enable a company to attain its set goals (Gilbert, 1994). Barriers to industry development are forces that deters the business organization from attaining the desired goals and these are encountered both in the internal as well as external business environment (Hough et al 2011) It is therefore imperative to evaluate key drivers and barriers affecting development in a bid to craft strategic tools that can stimulate strategic thinking, generate strategic foresight, provide a basis for testing existing strategies, explore and understand complexities of the future (Trompenaar et al, 2003). This can aid decision making and contribute to preparation for the future. As such, this essay seeks to explore key issues in strategic management and key theoretical models in the South African (SA) Wine Industry and that...
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...What type of employee profile will the company wish to seek when recruiting based on their 'cost-reduction strategy?' If Pacific Brands is to pursue the competitive strategy of cost-reduction to gain competitive advantage, the company should seek employees displaying the following role behaviours: relatively repetitive and predictable behaviours, a rather short-term focus, primarily autonomous or individual activity, modest concern for quality, high concern for quantity of output (goods or services), primary concern for results, low risk-taking activity, and a relatively high degree of comfort with stability. HR practices that maximise efficiency by enabling management to monitor and closely control employee activities are required to successfully implement the cost-reduction strategy. HR practices to enable this include; clearly defined and reasonably fixed unambiguous job descriptions, jobs designed with a narrow focus and narrowly defined career paths which encourage efficiency and specialisation, performance appraisals with a short-term results-orientation, monitoring of market pay levels intently to make remuneration decisions, and minimal levels of employee training and development. How could Pacific Brands strategically implement their 'cost-reduction strategy'? The globalisation of business is increasingly making it more important to have strategies, policies and processes in place that enable a MNE such as Pacific Brands to operate more efficiently. A significant...
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...Whittington’s Theories of Strategy What Whittington (2001) has tried to do is collate various theories about strategy over the last 40 years or so and put them into four categories. He has taken a Western viewpoint. The way he has done so is to place certain approaches to strategy in four decades. As you know, there are several different definitions of strategy from Mazzucato’s on page 1 of the Reader, Porter’s on page 11 and the ‘classical’ one of Chandler’s on page 34. What Whittington has done is to place the prevailing approaches to strategy in the early 1960’s USA in the ‘classical’ approach to strategy according to Chandler’ s definition, as well as from contemporaries such as Ansoff and Sloan. This definition and perspective falls into the ‘content’ aspect of strategy, i.e. it states WHAT strategy is. In the Classic perspective, the focus is on a rational, logical approach, which appears to be more appropriate to large, mature and stable industries. This was the context of the USA, when very large American firms dominated the industrial world. The American economy was healthy, robust and growing and expectations in the USA were that people would keep on buying new products, especially cars, to fulfil the ‘American Dream’. Fuel was plentiful and cheap in the USA. The Classical perspective looks more at the rational approach, in which planning plays such an important part. It was prominent during the 1960s in the USA, the research being undertaken into...
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...from a tech revolution that is strangling its core business. Kodak Chief Executive Antonio M. Perez is on the road to innovation. Taking in to consideration of the mistakes and lessons learnt from the past, Perez is reinventing the company’s core business model. As Perez reassembled the business he replaced a lot of executives to get the organisation on track. While Perez’s innovation of the organisation could be argued that this will help Kodak recover, there are also many substantial problems that could occur. One major problem for Kodak is the lack of strategic management. Although there are many various ways to define strategic management, David, F.R (2009) defines strategic management as a “continuous process of strategic analysis, strategy creation, implementation and monitoring, used by organisations with the purpose to achieve and maintain a competitive advantage.” Problem Identification: All main business ideas for Kodak seem to come just from the Chief Executive Perez. Leaving a lot of the main strategic planning just up to him. Kodak has previously displayed what an organisation with the absence of strategic management can look like. Therefor Perez should examine more heavily into strategic management as Kodak is always one step behind competitors. However, Strategic management is not about predicting the future but more so about preparing for it and acknowledging the steps the organisation may have to take to make a strategic plan in order to achieve a competitive...
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...This case gives us an opportunity to reflect on the difficulties of strategic planning and the strengths and weakness of the process used . It also provides a comprehensive introduction to scenario planning. Scenarios are possible views of the world that provide context in wich managers can make a decision In a range of possible worlds, decisions are better informed and the strategy is more likely to succeed In scenarios we can understand the drivers of change and have more control of the situation. 1. What are the strengths and weaknesses of scenario planning? Strenghts Allows one to project the future back into the present to help articulate the strategies necessary to achieve the point in future the scenario is conducive to success or help implement strategies to avoid the scenario in cases where it is not going to be successful - Allow a shared view of the future to be developed - Provide the oportunity for an organization to consider how they want to be positioned in that future - Promotes flexibility and responsiveness - Permit to see the mayor drivers of change: globalisation, economics, technology, - It can be used to do Risk assesment, identify early warning indicators and decide how will we respond. Weakness Simplification of the future: Difficult to predict the future as the number of variables used maybe less |than required for a better plan. Scenario planning is expensive because it requires a huge commitment of time: time consumer and...
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...offered for us to explore in relation to the case. We chose the following, as we believed they possessed the most relevant information. The Financial Times, Harvard Business Review, Mc Kinsey Quarterly and we also referred to our core textbook: Exploring Corporate Strategy. With regards to the international context surrounding Starbucks we looked at different areas, which we believed, were of the most importance e.g. what issues Starbucks faces on an international scale and also what Starbucks can do strategically to change for the benefit of the company. We looked at the work of one theorist in particular Michael Porter and ways in which his concepts and theories could be applied to this particular case study. We chose to adopt the infamous Porter’s Diamond as a theoretical framework for our analysis. If this model is applied to a company in the correct manner it allows for them to obtain and sustain competitive advantage over rivals as it provides them with more knowledge as to how they conduct their operations and power the business to future success. The diamond model looks at how a business can reign over rivals within every country which it operates. There are four points to this model, in brief: Firm Strategy, Structure...
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...1. Explain about strategic management process and strategic approaches. The strategic management process means defining the organization’s strategy. It is also defined as the process by which managers make a choice of a set of strategies for the organization that will enable it to achieve better performance. Strategic management is a continuous process that appraises the business and industries in which the organization is involved; appraises it’s competitors; and fixes goals to meet all the present and future competitor’s and then reassesses each strategy. SM as a process consists of different phases, which are sequential in nature. These four broad phases could be encapsulated as follows: 1. Strategic Intent 2. Environmental Scanning & Formulation of Strategies 3. Implementation of Strategies 4. Performing Strategic Evaluation and Control. The strategic approach therefore, is an ongoing process. It is continuous and recognizes the need to be open to changing goals on the basis of shifting circumstances within the environment. It is a process that requires monitoring and review mechanisms capable of feeding information to managers continuously. Strategic management or planning are not one-shot approaches, they are ongoing. Types of strategic approaches: Push-codification strategy Pull-personalization strategy 2. Explain the disruptive power of technology with reference to change in economic environment. PARADIGM SHIFT Its ability to break the...
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...these reputations have been playing a vital role in attracting increasing passengers to be loyal to Qantas. Consequently, Qantas has been becoming one of Australia’s most successful companies in aviation industry. With the rapid development of other competitors in aviation industry around the world, however, some challenges had been generated that Qantas has to overcome. Additionally, the key challenge for Qantas is about its global strategy, which is extraordinarily critical to determine the future of Qantas in the global aviation industry. To exactly and effectively understand Qantas’ global strategies, this report will be divided by five parts that could gradually make sense of the importance of global strategic management. Firstly, it will briefly introduce the history and growth of Qantas airline. Then this report will explain how Qantas’ global strategy operates. After that, it is going to analyze the nature and drivers of the company global strategies. Last but not the least, this report will analyze the challenges facing the global strategy and give some suggestions to overcome these challenges. More importantly, it emphasizes the importance of global strategic management for all companies in the world, not only for aviation industry. 1. Introduction of Qantas Airline Queensland and Northern Territory Aerial Services (QANTAS) Limited was established in Winton, Queensland, in 1920 and expanded rapidly as a transportation carrier. Its core competitiveness is to create...
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...International Management Part 1: The Global Manager’s Environment Part 2: The Cultural Context of Global Management Part 3: Formulating Strategy Part 4: Global Human Resources Management The University of Western Australia Strategic Planning and Strategy Strategic Planning • The process by which a firm’s managers evaluate the future prospects of the firma and decide on appropriate strategies to achieve long-term objectives Strategy • The basic means by which the firm competes., that is, its choice of business or businesses in which to operate and the ways in which it differentiates itself from its competitors 63 How does globalisation, risk, political-legal-ethical and culture affect the value chain that a firm manages and operates to create ‘value’ = strategic planning +strategy = STRATEGIC FIT between ‘inputs’ and ‘outputs’ Porter, M (1985) Competitive Advantage: creating and sustaining superior performance. NY: Free Press The University of Western Australia Steps in Developing International and Global Strategies Mission and Objectives Environmental Assessment and Scanning (PEST, PESTEL, Risk) Internal and Competitive Analysis (SWOT) Global Integrative and Entry Strategy Alternatives (Export, JV, Strategic Alliance, CAGE) Strategic Choice, Implementation, Feedback, and Control (Governance) Copyright ©2014 Pearson Education Realize that much of international business is conducted through strategic alliances...
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...| Bachelor of Business (Incorporating Graduate Diploma in Business & Graduate Certificate in Business)Strategic Management467943Semester One 2013 | TABLE OF CONTENTS Item | Description | Page | 1 | Welcome to Paper Overview Paper Level & PointsHours TaughtDelivery ModeIndependent Study | 3 | 2 | Teaching Team & Contact Details | 3 | 3 | Paper Information 3.1 Pre-requisite Requirements 3.2 Paper Aim3.3 Learning Outcomes 3.4 Content | 34 | 4 | AUTonline Programme Organisation | 4 | 5 | TextsRequired TextsRecommended Texts | 4 | 6 | Weekly Programme | 4 | 7 | Assessment InformationBusiness Assessment & Study HandbookExtensions and other Special Consideration Applications (SCAs) Assessment StructureExam Timetable Location Pass RequirementsAssessment DetailsPeer Assessment FormMarking guides | 55556777-111213-15 | 1 Welcome to Strategic Management of the Bachelor of Business, Graduate Diploma in Business, Graduate Certificate in Business and BBus Conjoint Programmes. You are expected to read the contents of this study guide, also available on AUTonline under “All My Courses”. This paper runs for 14 weeks (12 in class and 2 reading/exam weeks), and has one 1.5 hour lecture per week and one 1.5 hour workshop. Students will be required to supplement each hour of class with 3-4 hours of their own work. This is a level 7 paper, worth 15 points. 2 Teaching Team and Contact Details Teaching Team | Phone | ...
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...Implementation of the Human Resource Development Strategy for South Africa ANDREW WILLIE BARTLETT 21936048 Mini-dissertation submitted in partial fulfilment of the requirements for the Master’s degree in Development and Management at the Potchefstroom campus of the NorthWest University SUPERVISOR: MS LUNI VERMEULEN 2011 i ACKNOWLEDGEMENTS I wish to hereby express my sincere gratitude and appreciation towards the following persons for their support and assistance throughout this study: My Heavenly Father who blessed me with the opportunity, ability and strength to try to make a difference through this study. My wife, Elaine, without whose support, encouragement and assistance this study would not have been possible. My children, Elandre and Jade, for their support and understanding; may this achievement motivate you in your studies and development. My personal mentor and supervisor, Ms Luni Vermeulen, for her highly professional guidance, motivation, continuous support and patience. To all the respondents at the various institutions for their participation and valuable contributions. Thank you very much for your selfless assistance. ii ABSTRACT In 2001 the first Human Resource Development Strategy of South Africa (HRDSA) was implemented. The lack of institutional arrangements, structures, procedures, processes and capacity and the location of the HRDSA, 2001, at both the then Departments of Education...
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