...Accounting/Finance, Legal, Information Technology, etc. Functional managers lead these divisions, in which they have a role and responsibility to strategize, shape, direct and oversee divisions to reach department objectives, which then leads organizational objectives (Bansal, 2014). “Manager is someone who uses authority and reason for efficient and effective problem solving and to mobilize, coordinate, and control organizational resources by the use of standardized procedures that are a part of organizational policy” (Bansal, 2014, Manager Role within Functional Area of Business, para. 2). There are a few standard characteristics that a manager must possess to be able to contribute to the corporation’s success. These characteristics include, but not limited to, creating a vision for the future of the company, the ability to implement a...
Words: 1035 - Pages: 5
...`Running head: GAP ANALYSIS: INTERSECT INVESTMENTS Gap Analysis: Intersect Investments University of Phoenix MMPBL/520 Gap Analysis: Intersect Investments With such constant state of flux within the financial services industry, Intersect has attempted to survive. CEO Frank Jeffers decided on a new vision for the company and it is called the “customer intimacy model”. To help implement this model, the organization must align employee morale. Jeffers goal is to build long-term relationships and add value and trust to the customers of Intersect, but employees must stand by the new vision. Intersect understands that benchmarking is a great start to implement its new vision but the restructuring of organizational culture is much more important for the success of the model. Different values, rights, and interest are at stake and it is creating resistance to change. Situation Analysis Issue and Opportunity Identification The financial services industry is struggling and Intersect Investments is in need of an organizational change. Intersect Investments is managing to survive within its industry and is currently facing a 25% turnover rate. The company is in desperate need of increasing customer rates and plans to establish long-term customer relationships so that its brand image is improved. CEO Frank Jeffers realizes that the company will survive by implementing the “customer intimacy” model. In hiring Janet Angelo as the company’s new VP in marketing...
Words: 2522 - Pages: 11
...Lymari Martinez Grand Canyon University: EDA 534 Educational Administration Foundation and Framework October 15, 2014 According to Dictionary.com, a standard can be best defined as “morals, ethics, habits, etc., established by authority, custom, or an individual as acceptable.” The Interstate School Leaders Licensure Consortium’s (ISLLC) standards serve to define expected processes and outcomes for effective school leaders. These standards were developed in order to enhance the quality of education. Just as the No Child Left Behind Act (2001) was created to promote educational excellence for all students and teacher accountability, the ISLLC Standards were implemented so that all school leaders were held accountable towards the success of all students and stakeholders. The ISLLC standards are essential towards the development of an effective school leader. Effective leadership begins with knowledge of the educational environment: the needs of individual students, strengths and weaknesses of faculty and staff members, knowledgeable in all aspects of instructional programs, student data, and scheduling. Becoming experts in the aforementioned areas allows for school leaders to develop a solid foundation for effective school leadership. The Collaborative Learning Community (Unwrapping the Standards) that took place over the last 8 weeks gave me an opportunity to understand the importance of the ISLLC standards and its functions; the purpose of each standard are essential...
Words: 4021 - Pages: 17
...Vision Statements and Mission Statements are the inspiring words chosen by successful leaders to clearly and concisely convey the direction of the organization. By crafting a clear mission statement and vision statement, you can powerfully communicate your intentions and motivate your team or organization to realize an attractive and inspiring common vision of the future. "Mission Statements" and "Vision Statements" do two distinctly different jobs. A Mission Statement defines the organization's purpose and primary objectives. Its prime function is internal – to define the key measure or measures of the organization's success – and its prime audience is the leadership team and stockholders. Vision Statements also define the organizations purpose, but this time they do so in terms of the organization's values rather than bottom line measures (values are guiding beliefs about how things should be done.) The vision statement communicates both the purpose and values of the organization. For employees, it gives direction about how they are expected to behave and inspires them to give their best. Shared with customers, it shapes customers' understanding of why they should work with the organization. Mission Statement Creation 1. To create your mission statement, first identify your organization's "winning idea". 2. This is the idea or approach that will make your organization stand out from its competitors, and is the reason that customers will come to you and not your competitors...
Words: 473 - Pages: 2
...Vision, values and business strategies S T R AT E G Y Introduction Tesco was founded in 1919 by Jack Cohen from a market stall in London’s East End. Today it is one of the largest retailers in the world. Tesco’s core business is retailing in the UK, which provides 60% of all sales and profits. Tesco has the widest range of food of any retailer in the UK. Its two main food brands are its Finest and Everyday Value ranges, each sell over £1 billion per year. The position of Tesco as a leading global brand is clearly illustrated by its expansion of operations into 12 countries including China, Czech Republic, India, Malaysia, Ireland, Hungary and Poland. In 2013 Tesco employed in excess of 530,000 colleagues. This level of success does not happen by chance. Tesco’s leaders have always set high standards and clear goals, never settling for anything less than the best. Tesco’s ‘Every Little Helps’ philosophy puts customers, communities and employees at the heart of everything it does. It prides itself on providing a great shopping experience for every customer it serves, whether in stores, online or in its many other service provisions. Tesco’s core values include a commitment to using its scale for good by being a responsible retailer. In 2010, it opened the world's first zero-carbon supermarket in Ramsey, Cambridgeshire and was awarded Green Retailer of the Year at the Annual Grocer Gold Awards 2012. Tesco aims to be a zero-carbon business by 2050. Tesco’s continuing success...
Words: 2145 - Pages: 9
...Wal-Mart leadership became successful due to the company’s effective leadership style, their organizational structure and its culture. Wal-Mart’s organization culture is recognized to be more of bonded organization between the employer and the employee. Sam Walton, the company’s owner, shared his vision for the company with his associates and made them partners in the success of his company, after Sam died, his legacy remained the same with new management and continued to grow successfully and still remain number one in retail today, because management recognized his vision and carried it out as Sam would have done. New management did not dismantle Sam’s vision but kept the success going unlike Times Picayune, this organization lacked a successful organizational structure and endured more of procedural issues. After Times Picayune owner, Ashton Phelps Jr. retired, his vision was not carried out as he intended. After 175 years, new owner Ricky Matthews, dismantled Phelps vision and emphasized his own vision that became more procedural and steep, which caused the culture of the business to miscommunicate. Workers in this environment are more focus on pleasing the boss, instead of their work performance due to the company’s rules and policies being procedural and controlled without any flexibility. This type of culture causes employee turnovers and a bad reputation for the business. Matthews not only changed the culture of Time Picayune, but he lay off all active employees without...
Words: 461 - Pages: 2
...core principle of what Ford Motor Company was founded remains the same. Ford Motors’ commitment to the company’s mission statement, vision, ethics, and values is what solidifies Ford’s position as a top contender in the automotive industry. Mission and Vision Ford’s transformation Ford’s commitment to mission statement is timeless. Henry Ford had a mission to produce a quality automobile in the 20th century. Ford Motor Company (FMC) continues to solidify the company’s top ranking in the worlds’ automotive market. As a leader in the automotive market Ford continues to reinvent the company’s style of leadership. Several approaches to leadership have lead to a successful rejuvenation of Ford Motors. According to text Ford Motors embraces the transformational style of leadership. FMC know the benefit of keeping the proverbial hand on the pulse of the consumer272. A company is only as good as the product the companies supply and the demand for the product. The conceptual vision of the company was to provide a quality car that an individual would want to purchase. FMC is ever changing and transforming, but the core mission remains the same. Although, the vision of Ford Motors has not strayed from the original desire of the founder Henry Ford in 1903, the vision continues to evolve (Bateman, 2009). A commitment and wiliness to stay focus on the vision of a company is what has sustained FMC. Ford’s...
Words: 1166 - Pages: 5
...Develop an argument supporting the importance of a strategic plan for the success of the defined business. Strategic planning is critical to business success. Different from classic business planning, the strategic variety involves vision, mission and outside-of-the-box thinking. Strategic planning describes where you want your company to go, not necessarily how you're going to get there. However, like all other "travel plans," without knowing where you want to go, creating details on how to arrive are meaningless. Strategic planning defines the "where" that your company is heading. Strategic planning is the core of any business. Thompson, A.A., Strickland, A.J., & Gamble, J.E. (2010) Crafting and Executing Strategy: The quest for competitive advantage: Concepts and cases: 2009 custom edition (17th ed). Unlike business plans, there is no one right way to create effective strategic planning. It is, by definition, brainstorming at its best. Strategic planning involves "feel" just as much as it depends on management science. Since it depends on creativity and outside-the-box thinking, there is no perfect way to design a winning strategic plan. The more you understand your company, your industry, and your corporate "wish list," the better a winning strategic plan you'll create. Pearce, John, & Robinson, Richard Strategic Management 12th edition As critical as business planning is to the success of your company, all plans are useless unless followed by action. An additional...
Words: 1445 - Pages: 6
...Both mission and vision of a company or a company’s departments are crucial for the company in terms of determining the exactly true strategies and policies, each company have their own vision and mission. As a successful and experienced company like Şişecam Group, their HR department’s strategies and policies also should successful and using their experiences efficiently. Basis of the Şişecam Group HR department’s strategy and policy are mission and vision of them. Mission of the Şişecam Group’s HR department is that “Creating a sustainable competitive advantage through HR systems that support Şişecam Group’s objectives and strategies.”. According to mission of the HR department of the Şişecam Group, they believe that with considering their company’s objectives and strategies, it’s mandatory to creating competitive atmosphere around the employees with using HR systems in order to attaining the success. On the other hand, vision of the Şişecam Group’s HR department that “Having a workforce that has impact on business results, adds value to the organization and has a high commitment for Şişecam Group’s permanent and sustainable success”. According to vision of the Şişecam Group’s HR department, their HR methods which provide the Şişecam group for recruiting qualified employees are aiming bring values from employees and employees’ goals for their having a successful career also should success of the Şişecam Group. In terms of the policy and strategy for the Şişecam Group’s HR...
Words: 450 - Pages: 2
...Enid K Bukambu Dr. Muscia Strategic MAnagement 01/17/2013 An argument supporting the importance of a strategic plan for the success of the defined business Strategic planning is critical to business success. Different from classic business planning, the strategic variety involves vision, mission and outside-of-the-box thinking. Strategic planning describes where you want your company to go, not necessarily how you're going to get there. However, like all other travel plans, without knowing where you want to go, creating details on how to arrive are meaningless. Strategic planning defines the "where" that your company is heading. Often confused with business operation plans, strategic plans are expressions of ownership dreams and visions of successful results (Pirraglia, 2012). The strategic plan displays the finished product or goal. Usually, in smaller businesses, strategic planning is focused on the overall company, not on a department or division (pirraglia, 2012). Envisioning goals and then defining strategies you'll embrace to achieve your objectives is the essence of strategic planning. Easy to overlook in a smaller business, strategic thinking identifies the methods you will take to reach your goals. For example, if you believe you must expand your e-commerce function to achieve increased sales volume, you've also identified the method to use your strategy and reach company goals. Save the specific steps and components for your business plan. By selecting the...
Words: 1257 - Pages: 6
...factors such as money and status but a question to ask one’s self is, what makes a person successful and/or what is the driving force behind ones success? Possessing a characteristic such as personal responsibility is an essential tool in understanding how a person can effectively use the information given to them, in order to reach their goals. I believe personal responsibility means that I am the sole person who is accountable for my success. Although Ideas and visions of success can be identified without the factor of personal responsibility it gives one a sense of personal and social accomplishment. Developing plans from the beginning to the end, while maintaining the focus to succeed is crucial. Without personal responsibility ones visions and ideas for progress have a probable cause to be defeated. Having a lack of personal responsibility may cause one to fail academically, as well as struggle to get started in a professional career. Personal responsibility allows one to be able to focus on preserving new information as you discipline yourself to learn new ideas however preserving information learned is not the only important factor in personal responsibility, In addition an important key is to take learned concepts and train ones work ethics in accordance, in order to improve skills. In conclusion, although ideas and visions of success can be identified by many without the factor of personal responsibility it also gives one a sense of personal and social accomplishment for two...
Words: 703 - Pages: 3
...QUALITIES AND SKILLS OF ONE OF MALAYSIA’S MOST SUCCESFUL ENTRPRENEUR 1. Think success. To attain the kind of success that we want, we need to dream big. Every success story starts with big dreams. We need to have big dreams for ourself - which we want to be somebody rich, famous or fulfilled. We need to have a clear vision of what we want to achieve. But it doesn't stop in dreaming alone. We should actively visualize success in our mind that we can almost feel it, touch it or it is within our reach. Play this image back at every opportunity. What does it feel to triple our current income? How will our life change? What will our business look like if we achieved the million-dollar mark? Successful entrepreneurs possess an attitude of openness and faith that we can have what we want if we can simply envision it as the first step on the path of action to acquiring it. Management gurus have taught us the power of visualization - seeing ourself in our mind as having accomplished our dreams. If we want to be a successful writer, envision ourself signing books for a throng of people who have lined up to have our autograph. If we want to be rich, picture ourself in luxurious surroundings holding a fat bank account. And the process of envisioning success for we should be a constant activity! We need to think that we are successful (or will be one) every single waking hour. A personal development coach shared me her secret to help her continuously visualize her goals for the moment:...
Words: 1462 - Pages: 6
...four perspectives: (1) financial, the profits and value created for shareholders; (2) customer, the success of the company in its target market; (3) internal business processes, the internal operations that create value for customers; (4) learning and growth, the people and system capabilities that support operations. A company’s strategy influences the measures it uses to track performance in each of these perspectives (Horngren, Datar, & Rajan, 2012, p. 470). UNUM’s success with its balanced scorecard has been the result of getting a number of fundamental things right (Building and Implementing a Balanced Scorecard, Case Study: UNUM Corporation, 1999, p. 13). Vision and Strategy, the vision is the future and the gap between now and the future leads to a plan of action to achieve the vision. How we get to the future involves strategies. UNUM’s strategic goals and measures are to support a clearly defined and meaningful corporate vision (Building and Implementing a Balanced Scorecard, Case Study: UNUM Corporation, 1999, p. 2). Each perspective in UNUM has a vision, quantitative measure and goal. What makes the UNUM scorecard particularly powerful is the strategic implementation framework; the scorecard aims to focus the organization onto time-sensitive achievements. UNUM’s corporate vision is, ‘We will achieve leadership in our businesses.’ The corporation has a specific vision for each of its four scorecard perspectives (Building and Implementing a Balanced Scorecard, Case Study:...
Words: 931 - Pages: 4
...successful. While most would agree that failures are personally painful and could have been conceivably too often prevented, ??????? consensus dissolves around how to take action to the problem.?????? Some business owner’s may believe think that a successful business’ is based solely on luck; while other’s business owners believe may think that their success is based on the location. of their business. Although, both concepts could be attributed to success, in this report I provide a solution that could help business owners ????? transit ??? a business toward its success. In this paper, as a business professional for Take the Time and Time it Right Greetings Card Company, I argue in support of and focus on the importance of implementing a strategic plan for the success of this business. Several business owners might disagree with my argument, because they might feel that documenting a strategic plan can could be a time-consuming and costly process. This paper outlines the importance of documenting and implementing a strategic plan. Additionally, this paper provides vital explanations as to why a strategic plan is important for the success of the business. Crafting and...
Words: 1612 - Pages: 7
...People often look around their world and see what they believe to be overnight successes. They look at super achievers and think that they achieved their success due to a lucky break or that they made it to the pinnacle of their career without much effort at all. Usually exactly the opposite is true. It is seldom the case that people who have achieved greatness in any field, got there without a whole lot of sweat and tears. Almost every super achiever, I have ever come across, invested many hours into growing their knowledge and/or skill base before they achieved any level of lasting success. I read a number of biographies and have never come across a single super achiever in any of them, who did not have to overcome difficult obstacles and numerous challenges, before they achieved greatness. Achieving any level of success requires persistence, clarity of vision and total commitment toward achieving your goals. If you are looking for an easy road to bring success into your life and you are not prepared to invest time and energy into growing and becoming the type of person you need to be, to attract the level of success you desire. It is very unlikely that you will reach the level of success you want. You may not know the story of persistence and perseverance, behind the success of two authors, who spent a few years going from publisher to publisher, with a dream to publish a book of inspiring short stories. As short stories had never sold very well in the past, no publisher...
Words: 843 - Pages: 4
