...Yes, I agree with the opinion-that, construction firms use operations strategies in their firms in order to gain and attain profits. Eventually, in today’s time like other industries, construction firm also have no way without implementing operation management strategy in their firms. A successful business operates by knowing what it does best, why it does what it does and what it needs to do to stay focused and gain market share. It has a clear vision of why the business exists and what measurable results are expected to keep it winning for a long time. The purpose of a business is to give the owner what he or she wants. In publicly traded companies, stockholders want three things: quarterly earnings or profits, increasing stock values and revenue growth. Operations Management: Operations Management is more about running the entire business than just the production line, and involves accounting, pay, personnel, shipping, and all aspects of a business. The point of operations management is to fully integrate all operations so the company operates as an integrated coordinated whole, rather than as separate, independent departments each doing their own thing. The operations manger need to look at ways to coordinate purchasing, accounting, planning, production, personnel, maintenance and training. If any one of these becomes disconnected from the others, then you get bottlenecks outside of the production line that slow down production. For instance, if personnel does not...
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...Porter’s five forces 2 3.2 Strategy Description 4 3.2.1 Ansoff Matrix 5 3.3 Strategy Evaluation 5 SWOT analysis 6 Strengths 6 Weaknesses 7 Opportunities 7 Threats 7 3.4 Strategic Issues 8 3.5 Strategic Recommendations 8 4. Strategy formulation 9 5. Strategy implementation 12 6. Conclusion 14 References 15 Table of figures Figure 1: Porter's five forces model 2 Figure 2: Ansoff Matrix 5 Figure 3: SWOT analysis 6 Figure 4: Strategic formulation and implementation 9 1. 2. Introduction Strategic management is the integratedaction to manage the resources and performance of the firm, aiming the optimum output. The whole process initiates with the commencement of specific mission and visionary objectives for the organization, following the policies and plans required to achieve these. In simple sense, strategic management is the combination of strategic analysis, strategy creation, implementation and monitoring(Thompson, 2001). The final outcome is the competitive advantage which in turn ensures the sustainability of the firm for the long run. According to Rothaermel, F. T. (2012) strategic management is an integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage.” So, in broader sense, Strategic management entails the whole managerial process where the internal and external environment of the firm are carefully analyzed and based on this an extensive strategy is formulated – facilitating...
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...us in carrying out this project. We would also like to thank our friends and family for their valuable inputs and help. We would be failing in our duty if we ignore the library resource centre of CIMP as it helped us in gathering information which helped us in carrying out this project. 1. INTRODUCTION After the opening up of the Indian economy there had been an advent of large MNC’s and big global corporate houses in India. As a result there had been a constant pressure on Indian corporate houses not only to survive but to come out as a key player in their respective sectors. Many of the Indian firms which followed a rigid organisational structure felt the need to restructure their businesses. Many of the big business houses and family run businesses have moved forward in the direction of what is commonly termed as “CORPORATE RESTRUCTURING”. Among these Indian firms is L&T Larsen and Toubro or L&T (as it is commonly referred to) undertook a decision to restructure its business in early 2000’s following a report of Boston Consultancy Group. The group has continuously evolved from the...
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... * Openness to and awareness of multiple spheres of meaning and action; * Complex representation and articulation of cultural and strategic dynamics; and * Integration of ideas and actions oriented both to the global and local. CEMEX, a global cement company, has recognised the imperative of developing a global mindset across the organization by standardising ways of working while simultaneously recognising and assimilating best practices from its diverse operations and people. It does this by embedding its philosophy of the CEMEX Way for acquisitions, operational reviews, and its learning and development programs for leaders and managers. Company overview CEMEX, founded in Mexico in 1906, is the world’s largest building supplier and third largest cement producer. Based in Monterrey, the company started as a local player and over the past 25 years has grown to become a global leader in the construction materials...
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...infrastructure sets the United Arab Emirates on a path towards long-term global impact in many business indices. Figure [ 1 ] http://data.worldbank.org/country/united-arab-emirates S S Figure [ 1 ] http://data.worldbank.org/country/united-arab-emirates S S Over the past decade foreign direct investment (FDI) has swelled around the attractive business sector of the United Arab Emirates. Since its inception in 1971, the Emirates’ economy has grown exponentially, with gross domestic product (GDP) exceeding US$377 billion in 2012. Excluding 2009 when the UAE, like most of the world, was affected by a global economic downturn, the Emirates has experienced GDP growth since 1971 (see Figure 1). The UAE’s balance of payments has followed a similar path, with the only recent deficit occurring in 2009. The record high current account surplus of $109.5 billion helped turn the...
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...Critical Internal and External Factors that affect Firms Strategic Planning Kay Dora Abd Ghani Faculty of Civil Engineerings, University Teknologi MARA, Malaysia E-mail: kaydora@perlis.uitm.edu.my Surina Nayan Academy of Language Studies, University Teknologi MARA, Malaysia E-mail: surinana@perlis.uitm.edu.my Sheikh Ahmad Izaddin Sheikh Mohd Ghazali Faculty of Applied Science, University Teknologi MARA, Malaysia E-mail: sheikhahmadizaddin@nsembilan.uitm.edu.my Latisha Asmaak Shafie Academy of Language Studies, University Teknologi MARA, Malaysia E-mail: ciklatisha@perlis.uitm.edu.my Suhaimi Nayan UniKL Malaysian Spanish Institute, Malaysia E-mail: suhaimin@msi.unikl.edu.my Abstract Every firm that involves in business activity has its own strategy to operate its daily business. Strategic planning is the important element in every firm strategic management. There are various methods and techniques that can be employed in order to implement strategic planning and one of them is by using the SWOT analysis. SWOT analysis refers to strengths, weaknesses, opportunities and threats. Strengths and weaknesses are the internal factors of an organization and opportunities and threats are the external factors. This is a study on critical internal and external factors that affect the strategic planning of land developers in Malaysia. Questionnaires were distributed to get information needed. From the analysis done, it was found that firms’ strengths are related to their financial resources...
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...Unit 34 – Operations Management in Business (Word Count: 3598) Jason Hixson Tel: 01454 281141 Tutor: Mike Brayford Email: jason@rapidandsecure.co.uk Contents Page(s) Task 1 Nature & Importance of Operational Management 3 - 6 Task 2 Operations Management & Strategic Planning 7 - 8 Task 3 Production Process 9 Task 4 Techniques/Operational Plan 10 - 12 Bibliography 13 Task 1 Introduction: McDonald's Corporation is the world's largest chain of hamburger fast food restaurants, serving around 68 million customers daily in 119 countries. Headquartered in the United States, the company began in 1940 as a barbecue restaurant operated by Richard and Maurice McDonald; in 1948 they reorganized their business as a hamburger stand using production line principles. Businessman Ray Kroc joined the company as a franchise agent in 1955. He subsequently purchased the chain from the McDonald brothers and oversaw its worldwide growth. A McDonald's restaurant is operated by either by a franchisee, an affiliate, or the corporation itself. The corporation's revenues come from the rent, royalties and fees paid by the franchisees, as well as sales in company-operated restaurants. McDonald's revenues grew 27 percent over the three years ending in 2007 to $22.8 billion, and 9 percent growth in operating income to $3...
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...To: Traci Goldeman CC: Marylee Luther Subject: Recruitment and Selection Strategies Recommendations Tracy, Here are our recommendations for recruitment and selection strategies for Clapton construction. Organizational Goals Clapton Construction should think of its recruiting strategy as a model that drives the outcomes of hiring and staffing efforts. The outcomes Clapton is trying to attain should focus in the organizational goals of the company. Atwood and Allen consulting suggest that Clapton focus on the following goals: • Quality of new hires (better fit team players who stay longer) • Establish recruiting metrics • Flexibility in meeting both peak recruiting demands and normal operational requirements • Premier hiring candidate experience Do not create a recruiting strategy in a vacuum. Clapton should treat the formation of its recruiting plan in the same manner it would approach the development of a financial plan or marketing plan (Cascio W.F., 2013). It is essential to align the business side of Clapton Construction lined up with the recruiting goals and strategies. Forecasted Demographic Changes Arizona being a southwestern state is particularly affected by immigration and demographic changes. Population growth from the year 1990 thru 2012 was over 29% (Census Bureau, 2010). Most of this growth was in the Phoenix area was among illegal aliens from South and Central America (Census Bureau, 2010). The surge in population is mostly attributed...
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...CHAPTER SEVEN STRATEGY FORMULATION: CORPORATE STRATEGY True/False 1. Corporate strategy deals primarily with the choice of direction for the firm as a whole and the management of its business or product portfolio. Answer: T (pp.164-165) 2. Corporate parenting is the coordination of cash flow among units. Answer: F (p.165) 3. The most widely pursued corporate directional strategies are those designed to achieve growth. Answer: T (pp.165-166) 4. A merger is a transaction involving two or more corporations in which stock is exchanged, but from which only one corporation survives. Answer: T (p.166) 5. A strategic alliance is a partnership of two or more corporations or business units to achieve strategically significant objectives that are mutually beneficial. Answer: T (p.166) 6. The two basic growth strategies are concentration and strategic alliances. Answer: F (p.166) 7. Vertical integration is going backward on an industry’s value chain. Answer: F (p.167) 8. Vertical integration is the degree to which a firm operates vertically in multiple locations on an industry’s value chain from extracting raw materials to manufacturing to retailing. Answer: T (p.167) 9. Forward integration is often more profitable than backward integration. Answer: F (p.167) 10. BP Amoco and Royal Dutch Shell are examples of fully integrated firms because they internally make 100% of their key supplies and completely control their distributors...
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...Sector Policy Formulation and Strategies Financial Management Product Design Marketing Management Safety and Security Organisation of a Hotel Let Us Sum Up Clues to Answers 11.0 OBJECTIVES After going through this Unit you will be able to explain the: • • • • typology of accommodation in unorganised sector, procedures involved in policy and strategy formulation, application of marketing management in hotels, and role of safety and security in organised accommodation sector. 11.1 INTRODUCTION Ever since man started to travel in search of food, work, better prospects or leisure, there has been a demand for overnight stay. Lodging houses were built to provide accommodation along the trade and caravan route. Missionaries and religious travellers were accommodated by local people in their houses. But the demand for shelter kept on increasing with the development of highways and technological advancements in modes of travelling. As a result inns gave way to hotels. Hospitability industry today is a massive industry providing home facilities away from home to millions of travellers. These travellers can be segmented into various categories like business travellers, tourists, etc. All have different needs and expectations. However, the hospitality industry is so versatile that it is catering to the needs of all of them. In this Unit, we will discuss the operations of the organised sector of the hospitality sector which design and implements the strategies and policies to support these...
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...Best practice does not equal best strategy Benchmarking is an important way to improve operational efficiency, but it is not a tool for strategic decision making. When competitors all try to play exactly the same game, declining margins are bound to follow. PHILIPP M. NATTERMANN The McKinsey Quarterly, 2000 Number 2 Best practice. It may be the most readily recognized and widely used of all business management tools. And why shouldn’t it be? To executives, modeling a company’s performance on its best-in-class competitor is an ambitious but attainable aspiration. To investors, the strategy is a guarantee of the soundness of any company that embraces it. And to consultants, it is the tide that lifts every client’s boat. So why is it killing your margins? Everyone who follows business has seen the fat margins of growing young companies attract scores of new entrants, which eventually crowd the field and drive those very margins down. Why would top executives convert this regrettable fact of business life into a creed, especially when doing so simply hastens the endgame for everyone—first mover and Johnny-come-lately alike? Margins tumble as more and more incumbent companies compete for smaller and smaller segments of customers and industry resources They act as they do because they don’t understand that benchmarking is simply an operational tool. Instead, they all want to occupy the point on the strategic landscape that their most successful competitor has staked out.1 Soon...
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...outline the strategy followed by Cemex to achieve its position of prominence in the cement industry. What factors and resources equipped the company to grow so successfully over the period described in the case? Also, compare Cemex with Cisco. Where are they similar and where do they differ? Cemex utilized four key strategies to achieve a position of prominence in the cement industry. First, Cemex innovated state of the art technology to outperform competitors. Cemex leaders challenged the operations groups to develop more efficient ways ways to produce concrete and bought technology through acquisitions. A telecommunications network between 11 plants was established as early as 1988. The IT consulting group, Cemtec, was spun off which utilized online surveys to manage customer relations. Second, Cemex converted the commodity business into a specialty business by helping their end users improve profitability. E.g. in Mexico City, by guaranteeing delivery times of 20 minutes or less, the contractors maximize the cost effectiveness of the crews working on the site. Third, Cemex bought out competition in markets they wanted to expand influence. In some geographies, such as Mexico, Cemex owned >70% market share through acquisitions. Lastly, Cemex embraced risk management as one of its core competencies. Risk management is fully embedded within its business, and not seen as a “parallel’ process. Cemex views risks (operational, competitive...
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...Shortfall of skilled submariners In our case, there is a shortfall of skilled submariners. We could analyze the problem in different levels. External factors: 1. Cost-cutting strategy in Australian Defense Force between 1990(Nineteen-ninety) and 2001, personnel numbers were cut from 95,000 to 45,000 2. Dangerous Nature job of submarine According to News Ltd newspapers reported, February 12, 2003 There was an accident happened on HMAS Dechaineux when 55 sailors were 20 seconds from sinking to the bottom of the ocean two years ago when the submarine was flooded off the coast of Perth. It began when water flooded into the submarine's lower engine room after a seawater hose failed as the Dechaineux was at its deepest diving depth. Dechaineux crew members managed to stop the flood and rescue Seaman Geordie Bunting from the engine room. Internal factors: - Inefficient submariners, three of the six 45-crew submariners are non-operational. - High requirements: Include: 1. High standard of physical fitness (as table show) most of them are not easy to achieve. 2. Technical skills and an unique mental resourcefulness: sailors in both technical skills and an unique mental resourcefulness that enable them to endure being submerged for months at a time in close quarters. 3. Personel charateristics: submariners must be introverted and extroverted, meaning they must be able to build a close-knit camaraderie with fellow crew members, as well as being able to cope mentally with...
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...MAPPING THE CONSTRUCTION ENGINEERING AND MANAGEMENT DISCIPLINE By Mohamed A. Aboulezz A Thesis Submitted to the faculty of the WORCESTER POLYTECHNIC INSTITUTE In partial fulfillment of the requirement for the Degree of Master of Science in Construction Project Management February 2003 Approved Prof. Roberto Pietroforte, Thesis Advisor Prof. Fredrick L. Hart, Head of Department Abstract The objective of the study was to map the structure of the construction engineering and management (CEM) discipline and its contents, trace its evolution, and to identify the most prevailing research areas in the discipline. The study entailed a review of the literature in construction engineering and management as well as two of the leading academic journals in the discipline, particularly a bibliometric study of the contents of the ASCE Journal of Management in Engineering (JME), as a case study of the CEM refereed journals. The JME’s contents were investigated from its onset in 1985 until 2002. The results of the analysis show that 70% of the published papers focused on four main subjects: management and organization of the firm, project management, industry structure and environment, and management of personnel. Considerable changes occurred within the subjects with the emergence of new topics and the decline of others over the eighteen years of publication. The study also analyzed the use of keywords, research methods, and identified authors, and the concentration of...
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..."The Home Depot NYSE: HD, headquartered in Vinings, Georgia, is a home improvement retailer that aims for both the do-it-yourself consumer and the professional in home improvement and construction. It is the second largest retailer in the United States, behind Wal-Mart; and the third largest retailer in the world, behind Wal-Mart and French company Carrefour. The Home Depot operates about 1,900 stores across North America. The company operates stores in the United States (including the 50 states, Puerto Rico, the United States Virgin Islands), Canada, and Mexico. The Home Depot also operates EXPO Design Center stores in select U.S. markets, providing high-end home design products and services. Its 2004 sales totaled US $73.1 billion. It was ranked #13 on FORTUNE magazine's FORTUNE 500 The Home Depot also owns a chain of higher-end home decorating and appliance stores. The Home Depot employs over 325,000 people." The company was founded in 1978 in Atlanta, Georgia by Bernie Marcus and Arthur Blank, and grew rapidly, with sales topping $1 billion annually by 1986. From the moment of its foundation, HD has continued to grow constantly by targeting strong markets with many new homeowners and young people such as New Orleans. Home Depot managed to grow fast by quickly adapting to change and continued to be successful by holding fast to the culture and values of the organization. The constant renewal and the work to sustain culture that produces good products, employees, and customers...
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