...Review of What Is Strategy Introduction The article---‘What is strategy’ is mainly concerned with exploring the definition of the strategy by distinguishing ‘operational effectiveness’ from ‘strategy’. To explore the real meaning of strategy, the author defines this term from three different perspectives: strategic position, trade-offs and fit. Main part Understanding of the article Some concepts of this article are based on theoretical foundations. Firstly, operational effectiveness is based on the Five Forces Frame Work (Porter, 2008), as its definition ‘performing similar activities better than rivals perform them’ (Porter, 1996) links with external environment, especially for the competitors. Another concept ‘strategic position’, performing different activities from rivals’ or performing similar activities in different ways (Porter, 1996), is related to RBV (Barney, 1991), because both them emphasize on the distinctiveness and uniqueness. The other two concepts ‘trade-offs’ and ‘fit’ are based on VRIO criteria (Barney, 2007), which is the basis of the company to generate sustained competitive advantage. The V of VOIR, value, is consistent with ‘trade-offs’, as they indicate that company should decide what to do and not to do. The ‘fit’ is line with the ‘I-inimitability’, since both of them stress that interlinkages among corporate activities makes difficult for organization to imitate. Wider context of strategy theory Besides, this article could also be...
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...Citibank Case Analysis Citibank: Launching the credit card in Asia Pacific Country entry strategy Objectives of this case ... q To understand market evaluation, target market selection, and product positioning issues in services operations. q To appreciate globalization/country entry issues in financial products. q To understand the underlying economics of customer acquisition and retention. Key Strategic Issues qShould Citibank launch the card product ? Why ? Why not ? qGiven the upscale customer base , how should Citibank position its card, if it decides to launch it ? qWhich countries should Citibank enter first? Which countries should it avoid? Few More Operational Issues qHow should Rana Talwar convince his country managers and H.Q to accept the card product? What Organizational mechanisms does he have under his control? qIf you choose not to introduce the card, what do you do to achieve the $100 mio. earnings target by 1990? What kind of Branch banking products should the bank offer? Economic Analysis q How many card customers does Citibank need to break even on its investment ? Economic Analysis q First step is to ascertain the credit card revenue per customer of $163 (table B page 6) qOptions available: - assume Hong Kong experience as “typical” of the region. - If we have to target affluent with premium positioning you may use $250/ customer - for mass market strategy take $140/ customer Cost component of analysis qThree parts...
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...human capital and the impact of people on organization processes, for example, HR programs such as recruiting, will enable both HRM professionals and line managers to utilize the human capital in organizations effectively. This measurement is accomplished by focusing on the development of systems of workforce analytics and supporting HR metrics that meet the needs of organization decision makers. This chapter offers a brief history of the efforts involved in the development of HR metrics and workforce analytics and of how these efforts have been enhanced by the advent of integrated human resource information systems.1 From benchmarking to operational experiments, the HRIS field is rapidly evolving on many fronts. These advances are changing how HR metrics and analytics are used in organizations and their impact on organization effectiveness. The use of HR metrics and workforce analytics will help managers and organizations balance the costs and benefits consequences of...
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...to be analyzed. The environmental, organizational, demographical, operational, and individual needs need to be analyzed so that all of these are incorporated into the training plan. The methods of training need to be addressed. What media will be used in the training, the learning principles, how employees will learn skills or facts and the effectiveness of the various methods. Along with the above, training must be evaluated for effectiveness. What criteria will be used to assess training? Pretests are a method of testing training. Landslide Limousine will need to monitor and observe training, collect feedback from trainees, and then implement the feedback given. Following is a training plan for Landslide Limousine: Needs Assessment Landslide Limousine will first need to complete a needs assessment for their training. The first assessment will be environmental. Landslide Limousine will need to determine what impact unions will have on their business, and their training. Landslide will also need to determine what the effect of the economy will have to their business and training. Finally, with the environmental assessment, Landslide will need to be familiar with all laws, local, state, and federal that will need to be included in their training, as well as that will impact who, what, when, where training occurs. The next assessment that Landslide will need to perform is an organizational analysis. Landslide will need to analyze the objectives of the business, resources...
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...Michael DMBA 620 Week 9 Executive Summary Operational Efficiency, Operational Effectiveness, Operations Strategy, and Operational Sustainability are core concepts that help ensure an organization succeeds today, and into the future. Operational efficiency ensures businesses offer consumers the best products or services at the lowest costs possible. Operational effectiveness asks the questions of what, and how much resources are required in producing a product or service. Operational strategy sets the tone by establishing what will be produced and how this will occur, all correlated with the organizations overall strategy and vision. Operational sustainability ensures that an organization has staying power in the market by making necessary adjustments to keep up “with the times”. All play a paramount role in realizing success in the market. Further, Six Sigma, a process improvement discipline, helps organizations remove redundancy in processes as well as waste. This helps ensure sustainability for an organization. Operational Efficiency: is defined as a business’ ability to offer customers the best products and/or services at the lowest possible cost. Several organizations utilize “industry best practices” in order to streamline (lean) core business processes allowing them to react swiftly to changes in the market. Businesses also for corporate alliances in order to ensure/promote efficiency, this falls back to previous week’s assignments as we learned that just because you...
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...business management. Organizational effectiveness considers how well an organization performs business. In the present prospectus, the research will focus on effective management style and individuals behaviour which will impact on the efficiency of organization. The following literature reviews will attempt to show the information related to prospectus and demonstrate the analysis. In the research article by William Clark and Ray Wright (2009), they mentions the challenge which organizations will face in next several years. Increasing pressure to do more with fewer workers, growing demand for strategic new services, expected loss of legacy management skills and need for automated solutions. Then they provide a solution which can capture the knowledge of retiring workers and perform many tasks necessary to manage both legacy and distributed systems. This wide range of solutions that enable knowledge retention and automate the process workflow to provision and maintain IT services specifically. “By taking advantage of the wide range of solutions for automating management tasks, the agency can benefit from the ability to create automated, repeatable processes, reduce the need to replace retiring workers, improve ability to recruit new employees and continuously improve develop projects for consolidating and sharing resources” (Clark & Wright, 2009). The second literature review is more focus on how to define and measure the organizational effectiveness. In a research article by Tara...
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...MANAGEMENT SYSTEM Food safety is related to the presence of food-borne hazards in food at the point of consumption (intake by the consumer). As the introduction of food safety hazards can occur at any stage of the food chain, adequate control throughout the food chain is essential. You are required to integrate food safety into Environment, Health and Safety (EHS) management system. Please define the following: a. Correspondence or cross reference between food safety and EHS management system. ISO 22000, published on 1 September 2005, is a new International Standard designed toensure safe food supply chains worldwide and the first of a family on food safety management systems. Food safety management systems – Requirements for any organization in the food chain, provides a framework of internationally harmonized requirements for the global approach that is needed. The standard has been developed within ISO by experts from the food industry, along with representatives of specialized international organizations and in close cooperation with the Codex Alimentarius Commission, the body jointly established by the United Nations’ Food and Agriculture Organization (FAO) and World Health Organization (WHO) to develop food standards. Many organizations that use ISO 22000 systems are now choosing to also implement ISO 14001 and OHSAS 18001 compliant systems due to factors such as demands of government regulations, customers, risk management, market requirements and corporate...
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...McDonald’s 3 Business Model 3 Mission Statement 4 Vision 4 SWOT Analysis 4 Learning Outcome 1: Understand the nature and the importance of Operations Management 8 1.1 The importance of operational management 8 Examples of operations management in McDonald’s 9 1.2 Assess the operations management in terms of production of goods and services safety, on time, low cost, quality and within the law 11 Production of goods and services safely 11 Production of goods and services on time 12 Low cost 12 Quality and within the law 13 1.3 Significance of links between operation management and strategic planning 14 1.4 Operations management system diagram 17 2.1 The impact of “Three E’s” (Economy, Efficiency and Effectiveness) make on operations management 18 Economy 18 Efficiency 18 Effectiveness 19 2.2 Identify any measure adopted for cost minimization and quality maximization 19 Measures for cost minimization and quality maximization 21 2.3 Evaluation of the significance of the five performance objectives 22 Learning Outcome 3: Understand how to organise a typical production process 25 3.1 How linear programming can assist to make operations management more effective 26 3.2 Compare and contrast critical path analysis and network planning 30 Critical path analysis and network planning 30 3.2 Mechanism of operational planning and control 32 3.3 Why is operational planning and control necessary 32 3.3 Difference between planning...
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...and high quality cars. The rest of the car manufacturers adopted Toyota’s production philosophy, the well-known TPS. The continuous rivalry with the rest of the car manufacturers and the aggressive growth strategy combined with a cost reduction plan caused Toyota to overlook quality issues which caused a very serious problem known as “The Accelerator Crisis” This crisis affected the company’s image and reputation and of course had an impact on its financials since they had to recall the defective cars. In this document it is intended to analyze and explore the reasons behind this Toyota’ accelerator crisis and how it was managed. Case Analysis Toyota had 14 principles in four sections that encompass a philosophy of continuous improvement. These sections, or groupings, refer to: long-term vision, process improvement, root-cause analysis & self-criticism, and developing the people. Toyota was so successful in implementing them that these best practices became a philosophy that others wanted to emulate. It is surprising that Toyota had to face a crisis over its lack of quality. In determining the main cause for this crisis, we can identify several items such as change of the management staff, from family to a professional team, oriented towards growth and increasing sales volumes. The original Toyota values got mixed-up, prioritizing volume over safety and quality. Other factors such as the relentless push towards reducing costs and lean production contributed to this crisis...
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...A Comparative Analysis Of The Effectiveness Of Three Solvency Management Models By Enyi, Patrick Enyi Ph.D, MBA, B.Sc, ACA, ACCA, MFP, RFS. Fellow, American Academy of Financial Management (AAFM) Member, American Accounting Association (AAA) Head, Department of Accounting, Covenant University, Ota, Nigeria A Comparative Analysis Of The Effectiveness Of Three Solvency Management Models Abstract The introduction of the Altman’s Z-score model in 1983 and much recently the Enyi’s Relative Solvency Ratio model in 2005 has divergently provided financial analysts with alternative methods of analyzing corporate solvency which hitherto was exclusively done using the traditional historical record based ratio analysis, with particular reference to the current ratio. To test the relevance and effectiveness of the three models, real life performance data were extracted from the annual reports of 7 quoted companies, analyzed using the three models and the results compared to show the strengths and weaknesses of each. The result revealed that the current ratio and the Z-score models suffer from many limitations including imprecision while the Relative Solvency Ratio combines the capability of an effective indicator with the precision required of a true predictor. Keywords: Solvency, Liquidity, Ratio Analysis, Bankruptcy, Performance, Relative Solvency, Working Capital, Current Ratio, Current Assets, Balance Sheet 1. Introduction It is a proven fact over and throughout...
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...Singer's Levels of Analysis J. David Singer weighs the merits and limitations of the state and system levels of analysis in his essay "The Level-of-Analysis Problem in International Relations." He assesses these levels on their effectiveness in describing, explaining, and predicting phenomena. Below is a brief summary of his basic views on each level: International System Level of Analysis * the most comprehensive level of analysis -- "encompassing the totality of interactions which take place within the system and environment" * more holistic analysis * more deterministic in nature * Effectiveness in describing: * primary advantages lie in its comprehensiveness * disadvantages lie in its lack of detail * Effectiveness in explaining: * disadvantage: exaggerates the impact of the system upon the actors and discounts the impact of the actors upon the system * disadvantage: requires that "we postulate a high degree of uniformity in the foreign political operational codes of our national actors" → thus we assume that all national actors "think and act in terms of interest defined as power"; however, nations may differ to a large extent in the nature and substance of their national interests → creation of "black box" concept of national actors * advantage: adequate for making not causal but correlative statements based on general system level trends * advantage: "singularly manageable model" * Effectiveness in predicting: *...
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...A COMPREHENSIVE PROJECT REPORT On Effectiveness of Marine Logistics Submitted to S.R. LUTHRA INSTITUTE OF MANAGEMENT IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE AWARD FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION In Gujarat Technological University UNDER THE GUIDANCE OF Faculty Guide: Company Guide: Ms. Parinaz Todiwala Mr.Pravin Dixit Assistant Professor MD (Kshitij Marine Services Pvt. Ltd.) Submitted by Ms. Harshita Kakar [Batch No. 2011-13, Enrollment No. 118050592001] Ms. Nupur Mishra[Batch No. 2011-13, Enrollment No. 118050592005 ] MBA SEMESTER III S.R. LUTHRA INSTITUTE OF MANAGEMENT - 805 MBA PROGRAMME Affiliated to Gujarat Technological University Ahmedabad December, 2012 Company Certificate (For Sem. 3) (On Company Letterhead) This is certified that Ms. Harshita Kakar and Ms. Nupur Mishra from S.R. LUTHRA INSTITUTE OF MANAGEMENT, are carrying out the research on the subject titled “ ” at this company / organisation under the supervision of Mr. Pravin Dixit, from Sep, 2012 to Dec, 2012. I also certify that, the above mentioned students have carried the research work satisfactorily. Place: - Surat Date: - _________ ( to be announced later on) ________________ (Name & Designation) Students’ Declaration We, Ms. Harshita Kakar &...
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...Business Information Systems Learning Outcomes Week 5 1.Explain the importance of decision making for managers at each of the three primary organizational levels along with associated decision characteristics. Ans. The structure of a typical organization is similar to a pyramid and different levels require different information to assist in decision making, problem solving and opportunity capturing. 1.Operational-At the operational level employees develop , control and maintain core business activities required to run the day-to-day operations.Operational decisions are considered structured decisions , which arises in situations where established processes offer potential solutions.Structured decisions are made frequently and are almost repetitive in nature, they affect short-term business strategies .Recording inventory and creating weekly production schedules are examples of routine structured decisions. 2.Managerial – At the managerial level employees are continuously evaluating company operations to hone the firm’s abilities to identify and adapt to change.Managerial decisions cover short and medium range plans ,schedules and budgets alongwith policies,procedures and business objectives of the firm .These types of decisions are considered semi-stuctured decisions ,they occur in situations in which a few established processes help to evaluate potential solutions but not enough to lead to a definite recommended decision.Eg,decisions about producing a new product. 3.Strategic...
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...Executive Summary Nokia’s reign as the world’s biggest seller of mobile telephones is under serious threat from its competitors such Apple and the introduction of new Android based mobile phones. The company fell short in the smartphone era and its position as the number-one phone seller in the global market is under threat. The case study provides a brief analysis of what transpired at Nokia and how the strategy implemented by the management team from the period of the 1990s up to the 2010 led to the company losing its market shares at both ends of the mobile phone industry. During the period of 1991 and 1992 the company lost FM482million ($120 million) on its major business activities. In 1992 a new group chief executive, Jorma Ollila was appointed. Jorma Ollila’s mission was to formulate a strategy that was going to rescue the company from its losses, into a profitable organisation. The report focus on Nokia’s reason to select one area of development out of four, the significance of the introduction of new Android software for Nokia’s chosen strategy and the importance of management teams to strategic choice. In dealing with the first section on the study case , the author analysed the three elements of the strategy context used by the management team and then discussed strategic risks associated with focusing on the single development area out of four. Lynch (2012:421) defines strategy context as being concerned with the circumstances surrounding and influencing the...
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...advancement of the program. As it reads on the JSF website “The focus of the program is affordability -- reducing the development cost, production cost, and cost of ownership of the JSF family of aircraft.” This statement along with defining the F35 program as a system and as a whole will be the main topic of this research paper. A system is defined as a group of elements, components and attributes working together to perform some kind of function. The JSF program as a system has many elements known as Integrated Product teams (IPT) s which work together to perform the end function of producing and maintaining the F35 multi role fighter. The JSF program has 16 components or IPT’S each with their own sub-systems which keep the system operational and sustainable at all times. In October 2001 the system design and development plan began for the F35 program which marked...
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