...Strategic Management By Mashell Chapeyama History of Strategic Management Strategic management has changed since the 1970s. Basically strategic management studies started in the 1950s and 1960s and then evolved along the way to today. Strategic management just refers to the fact that an organization is working with clearly stated strategies to meet its vision. The strategies have changed from the 1970s to now. In 1970s strategic management was mostly centred on the ideas of size, growth and portfolio. This means managers saw the need to seek growth through size and increased portfolio. By portfolio we mean different investment opportunities or diversification. In the 1970s there was emphasis on market growth strategies. The main emphasis was on extending the markets as a means of harnessing more profits. By this time firms were market oriented. Their strategies were to control as much market as possible. Impact of market shares has led to the concept of increased profit based on reaching as many people as possible. There was the need to craft strategies that affected the entire organization not sub units. The need for overall company orientation was important. Strategic planning has changed a bit from that time. The focus has changed. The earlier focus was on growth and market share. Now the focus is on an efficient organization that has greater coordination and viability. The strategies have changed. Companies are no longer market oriented as before. Their focus is...
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...ABSTRACT Risk Management is the application of proactive strategy to plan, lead, organize, and control the wide variety of risks that are rushed into the fabric of an organization„s daily and long-term functioning. Like it or not, risk has a say in the achievement of our goals and in the overall success of an organization. Present paper is to make an attempt to identify the risks faced by the banking industry and the process of risk management. This paper also examined the different techniques adopted by banking industry for risk management. To achieve the objectives of the study data has been collected from secondary sources i.e., from Books, journals and online publications, identified various risks faced by the banks, developed the process of risk management and analyzed different risk management techniques. Finally it can be concluded that the banks should take risk more consciously, anticipates adverse changes and hedges accordingly, it becomes a source of competitive advantage, and efficient management of the banking industry. KEYWORDS: Risk Management, Banking Sector, Credit risk, Market risk, Operating Risk, Gab Analysis, Value at Risk (VatR) _____________________________________________________________________________________ INTRODUCTION Risk is defined as anything that can create hindrances in the way of achievement of certain objectives. It can be because of either internal factors or external factors, depending upon the type of risk that exists...
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...Assignment 3: Organizational ControlsOver the past year, Company XYZ has experienced a lull in growth. Although their target growth rate was five percent last year, their profits actually decreased by three percent. Executive management has begun to look at the financial area of the business and has determined that the following has occurred: * There are more defects occurring in their product line. * There is excessive company debt and inconsistent cash flow and borrowing requirements. * There was a loss of key leaders in the executive management level. Prepare a detailed report in APA format (minimum of two pages, excluding the cover sheet and reference page, double spaced) that answers the following questions. Be sure to justify your responses using your weekly reading material (and other outside sources if you wish). Submit your report to the W3: Assignment 3 Dropbox by Tuesday, September 11, 2012. * Although there are likely issues in all areas of the business, what are some of the issues that may be contributing to the financial areas mentioned above? * What are some control measures that need to be put into place in the finance department of the organization? * What results will these controls have on the issues posed? Assignment 3 Grading Criteria | Maximum Points | Outlined the types of controls that could remedy each problem occurring at Company XYZ. | 15 | Specifically described what each control methods will do to help the current growth decline...
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...which are taken in order to ensure company growth, and business change. When managing any training process, it is usually recommend that company leaders work closely with functional department heads and Human Resources personnel in following a systematic approach to training. A good system will help attack training problems using a “rifle” approach, rather than a “shotgun” approach. The following are five generic steps or phases in the model that we as trainers simply call A.D.D.I.E. These steps will help build a training program, and will increase chances of assembling an effective program. By analyzing the need, or performing a “needs assessment,” is crucial in identifying the information that must be addressed in the program. This is where the question, “What do we want our employees to get out of the program?” is asked. A great way to complete this phase is to perform a “gap analysis” by comparing current results to the desired performance. Another way to perform this phase is to treat team members as stakeholders in the process, much like we treat customers. Get their help by asking for specifications for the training. After all, they know where they need help...particularly when it comes to delivering a better product or dealing with customers. This analysis is also useful in creating metrics that will help an organization gauge the effectiveness of the training. This phase is where training program objectives begin to take shape. If an organization performs the assessment...
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...Southwest has exceedingly accomplished these competencies and strategies within a very competitive market, and has outstandingly been recognized as a low cost provider in airfare with frequent service domestically. In 2014, Southwest chose to integrate international flights in its business strategy. In an effort to identify issues and develop solutions for this new integration, clarifying strategic priorities and providing the company’s strengths and weaknesses will aid in supporting the use of the Strategy Canvas Tool. Equally important, the strategy tool will assist in providing an analysis to ascertain and elucidate if the strategic priorities are clearly articlulated and implicit. Defining strategic priorities and identifying current gaps within the organization will boost the framing of the problem statement, and will benefit in the examination of the case for change in the current business...
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...phenomenon exists and operates. Conceptual Framework Conceptual framework presents specific and well-defined concepts which are called constructs. Its function is similar to theoretical framework because the constructs used are derived from abstract concepts of the theoretical framework. Statement of the Problem Statement of the problem sets the direction of the study. It has to be stated vividly and explicitly in interrogative form. A good research problem should be SMART, that is, Specific, Measurable, Achievable, Realistic, and Time-Bound. Significance of the Study Significance of the study explains its importance. It defines the contribution of the study in relation to solving the problem and need; bridging a knowledge gap; improving social, economic and health conditions; enriching research instruments and methods; and supporting government thrusts. Significance of the study is presented either in inductive or deductive perspective. In and inductive way, the researcher moves from the particular to the general, and presents the importance of the study from target beneficiaries, to the researcher himself, to the people in the community, to the people in the province, region and nation. Likewise, in a deductive perspective, the discussion of the importance of the study is the exact reverse of the inductive process. Scope and Limitation of the Study Scope and limitations of the study...
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...employees at each level 2.3 It helps in inculcating the sense of team work, team spirit, and inter-team collaborations. 2.4 It leads to improved profitability and more positive attitudes towards profit orientation. 2.5 It helps in increasing job satisfaction. 2.6 It helps to greater productivity and quality. 2.7 It helps in improving the morale of the work force 2.8 Lead to the less scrap or spoiled work and less accident. 3.0 Concept of training need assessment 4.0 Why prefer Training need assessment? 4.1 It helps to identify the gap between employees and job requirement 4.2 It enables to find out which employees and group will need training. 4.3 It helps to understand the requirement of the training (Present or future) 4.4 It helps to assess the cost and benefit of the training. 4.5 It helps to pinpoint where and how relevant information will be collected 4.6 It helps to identify who will be responsible for collecting information analyzing it and reporting its result. 5.0 Conclusion 1.0 Introduction 1.1 Concept of Training and Development. Training and development is the field which is concerned with organizational activity aimed at...
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...Organizational Planning MGT/521 May 6, 2015 Andrew Van Ness Strategic Plan Creating a strategic plan to enhance and grow your company means developing a road map to your company’s future. A good map can help to achieve your company’s goals. In the case of Activision Blizzard Inc., the goal of the company is to become the largest and most profitable game developer in the world. This goal will not be reached overnight. It requires a well-developed strategic plan supported by multiple operational plans. Strategic Plan - Defined In the business world, a strategic plan is a written outline. This outline compares the company’s goals with marketplace needs. It goes much further than a traditional plan. The strategic plan not only defines the goals, but also addresses how to utilize company resources and assets effectively to reach them. Positive results can be achieved through analyzing the business’s strengths and weaknesses, and acting appropriately on opportunities as they become available (Scott, 2015). Activision Blizzard Inc., created by the 2008 merger of Activision and Blizzard Entertainment, is one of the largest developers and publishers in the interactive gaming industry (Activision Blizzard Inc., 2015). Based upon Activision Blizzard Inc.’s SWOT analyses, the goal to become the largest and most profitable game developer in the world can only be achieved through an expansion in their current line of products. Strategically, the company has to increase the number...
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...The Importance of Strategic Planning in Banking Performance: An Analyzing Examination Jia Li Abstract This paper explains the definition of Strategic Planning and how it is important in banking performance. As the comparison between Strategic Planning and Operational Planning, we get a general idea that Strategic Planning need to be considered and configured first when it comes to business planning. This paper also conducted a SWOT analysis to identify internal and external factors to eliminate risk of failure for a company. Introduction With the continuous development of the world economy and the trend in economic globalization, strategic planning has been attached into great importance and applied into various fields. Studies explain how strategic planning is related to financial performance, and Hopkins used LISREL analysis explained how people have never realized the gap between SP and Banking Performance (Hopkins pp.635-652). In this paper we will be analyzing the importance of having strategic planning in banking performance by SWOT analysis. Study Foundations First of all, what is Strategic Planning (SP)? SP is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources pursue this strategy. There are four key components in SP, which are Vision – what do we want to do, Mission – what might we do, Value – for whom do we do it, and Strategy – what should we do (Wiki). Vision outlines what the...
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...------------------------------------------------- Bhopal Disaster Understanding its impact on Organizational Behavior December 7, 2014 Bhaskardeb Maitra 2201 192nd ST SE #L4, Bothell, WA 98012 December 7, 2014 Bhaskardeb Maitra 2201 192nd ST SE #L4, Bothell, WA 98012 Introduction The industrial catastrophe that occurred on the midnight of December 2, 1984 at Union Carbide India Limited pesticide plant in Bhopal, India was the worst industrial accident in the world. The official count was around 3000 deaths, but unofficial estimates are around 8000 – 10000 deaths (Bogart, 1989). Since then, a report in NY Times indicates the death toll has reached a high of 14,410 due to the chronic diseases caused by the gas leakage (NYT, 08/02/2002) Chemical industry officials are particularly disturbed that in an accident such as Bhopal could occur in what is reported to be the safest manufacturing industry in the United States. The tragedy stimulated moves in the United States that will change the handling and production of toxic chemicals as well as the dissemination of information on potential hazards and safety precautions for toxic and hazardous substances to the public. Key questions to understand how this disaster impacts on organizational behavior During this analysis, I will try to make an attempt to understand the following key questions - probable impact on organization behavior: 1. This disaster itself and the way in which the aftermath of it are being handled...
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...Analyzing a Job Sherika Clay 10/08/2012 HRM/531 Craig Southern Operational Gap This memorandum is to inform the hiring manager of State Farm that an operational gap needs to be fulfilled. State Farm is ranked number one in the auto insurance industry and strives to remain competitive amongst the competition. They want to ensure that they offer the best products and services to their customers at the best premium possible. State Farm is shifting towards a 24 hour operation so that customers can receive service around the clock. State Farm has done extensive hiring of employees to fulfill the roles for the new 24 hour operation but is in need of classroom claim trainers to train the new employees to be productive and thorough in their claim handling. Position Details The classroom claim trainers will be responsible for training all new hires. The trainers will provide the new hires with all of the claim information and tools needed to be successful at State Farm. They will assist in developing, administering, conducting, and evaluating claim education and training in the zone. They will coordinate with corporate to come up the most efficient way to train new employees. The classroom trainer will plan, conduct, and facilitate training of claim associates in a classroom and field environment. They will also conduct Agency training on claims matters to include development and presentation of materials. Duties and performance requirements The classroom claim...
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...questions (or objectives or hypotheses) Briefly state the research questions that this study addresses. Indicate your major hypothesis: what do you expect the results of your inquiry to reveal? Theoretical perspective Your hypotheses about how the independent and dependent variables in your study are related to each other should be based upon a theory that would predict what is likely to occur. Describe that theoretical grounding of your study. Definition of key terms Here you should indicate what you mean by key terms that you use in your study. Pay particular attention to terms that may not have the same meaning for all readers. Later on, in the methods section, you will define all of the variables used in your study in operational terms. Delimitation and limitations of the study Describe the scope of your study. What are its boundaries? What issues will be addressed and what issues are considered beyond the scope of the study? What are the limitations of your study? Pay special attention to limitations in terms of the sample which is available to you, and the extent to which it may or may not represent the population of interest. Potential threats to the internal validity of your study are identified here. Significance of the study What will this study contribute to our understanding of the topic? Describe any anticipated practical application of the findings of your study—perhaps for your school or school district. Review of Related Literature An...
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...Putting Predictive Analytics to Work in Operations James Taylor CEO, Decision Management Solutions More information at: www.decisionmanagementsolutions.com Using Decision Management to maximize the value of predictive analytics Predictive analytics applied to operational decision making is the next major source of competitive advantage. The most successful companies are using Decision Management to put predictive analytics to work powering the day-to-day decisions that impact performance most. ©2011 Decision Management Solutions Maximizing analytic value in operational decisions Insights from predictive analytics Contents: Insights to actions—improving operational decisions Customers—they think your decisions are deliberate Challenge—getting analytics into operations Solution—Decision Management increases analytic value 1 3 5 7 Insights to actions improving operational decisions “Most discussions of decision making assume that only senior executives make decisions or that only senior executives’ decisions matter. This is a dangerous mistake.” Peter Drucker Companies that systematically apply predictive analytics to operational decisions, especially those pertaining to customers, outperform their competitors. Many organizations think of predictive analytics as being valuable primarily for strategic purposes. They look to it as a source of market insights to help guide executives and managers making decisions about where to focus and allocate...
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...Budget Management Analysis HCS/571 Financial Resource Management June 27, 2011 Dr. Lena Watson Budget Management Analysis Budget management analysis is used by mangers as a tool and helps determine that all resources available are being used efficiently. The budgets are determined yearly and are based upon the previous year’s budget and variances. This paper will discuss specific strategies to manage budgets within forecast, compare five to seven expense results with budget expectations, describe possible reasons for variances, give strategies to keep results aligned with expectations, recommend three benchmarking techniques, and identify those that might improve budget accuracy, and justify the choices made. Strategies to Manage Budgets Many strategies may be used to control budgets; managers and the chief financial officer of most healthcare organizations have the tools needed to manage the budget. By managing the budget the organization will be better prepared for the financial forecasts, which are the company’s future expenses. Some strategies and tools that will assist with managing the budget are zero based, activity based, performance based, cost variances and benchmarking. Zero based budgeting analyzes every expense within an organization and justifies the need and cost of each. Activity based costing is the gathering of the operating cost data, which is assigned to specific activities such as engineering. The performance dashboard uses the metrics of performance...
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...well-known organization. The following is a brief synopsis that will identify the chosen organization and present a job description from the organization’s website. The job description will include position details, job duties, performance standards, and job factors. The information provided will identify recruitment and selection methods consistent with the organization chosen. As a final point, the synopsis will include a concept map that summarizes the steps of recruiting and the selection criteria for an employee using the job description selected. In 1975 William “Bill” Gates, a Harvard University drop out, founded Microsoft. Today the company is a leader in office products, wireless phones, and other entertainment devices. Microsoft has operational centers in Puerto Rico, Ireland, Singapore, and the United States of America. Approximately 10,000 employees globally work for Microsoft in areas ranging from entry-level positions extending to upper-level management (Facts about Microsoft, 2013). Microsoft is seeking an individual for a Business Services & Administration position in the Communication and Native Devices Team in the Office Client & Services (OCS) organization (Microsoft, 2013) in the Office Client Division. Develop a Concept Map That Summarizes the Steps of Recruiting The purpose of Microsoft making a concept map is to remember information, and to use it more effectively. The checklist for hiring employees will help the Microsoft organize the hiring process no matter...
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