...Article Review Jose C Romero July 2, 2015 MGT/426 Elyse Polokoff Article Review: “Is Yours a Learning Organization?” In their article, "Is Yours a Learning Organization?" Garvin, Edmondson and Gino develop a list of standards that companies can use to measure the efficacy of their learning organization (2008). They emphasize the importance of a company being an innovative learning organization to handle competition, technological advancements, and unpredictable changes in their markets. The authors make the process of creating a learning organization clear by naming three building blocks of an effective learning organization. These include creating a supportive work environment, creating concrete learning processes and practices, and maintaining leadership that reinforces learning. This article defines what a learning organization is, explains how organizations can put this definition into practice, and gives organizations a tool to identify any areas in need of improvement. The article begins with a concise definition of a learning organization. According to the authors, this is an organization in which "employees continually create, acquire, and transfer knowledge" (Garvin, Edmondson, & Gino, 2008). It is not enough to simply tell employees the company's vision or give them a lot of training; they must also be encouraged to be tolerant, open to discussion, and to think holistically. Employees exposed to such practices have the ability to adapt more quickly to changes...
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...Implementation, Assessment and Feedback Controls Any organization’s strategic plan is useless without proper implementation, assessment, and feedback controls put in place to execute and monitor the successfulness or failures of those plans. Strategy implementation is defined as the sum total of the activities and choices required for the execution of a strategic plan (Wheeler, T.L., Hunger, J.D., p 272, 2010). It is the where all the planning and strategies are put into action Implementation of strategies starts from the top down. Executive management makes the ultimate decision on which strategic plans are going to be implemented and then empowers the middle management or divisional managers to carry out or execute the strategic plan. The steps in implementation that Riordan Manufacturing needs to follow is: * Developing a program- such a program could be a Lean Six Sigma to identify unnecessary cost within the organization by improving or eliminating poorly performing processes. * Developing a budget- strategic plans cost money. Prior to implementing any plan Riordan Manufacturing has to access and evaluate the cost of implementing the proposed strategy and determine if the organization can afford the cost of implementing the new programs. * Develop a procedure- this implementation step involves the development of the Standard Operating Procedures (SOP) in which activity details of the programs are written out. The SOP is be followed and adhered to...
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...Strategic Management Process Paper MGT/498 March 10, 2014 Abstract: This paper explains the role of ethics and social responsibility when developing a strategic plan, and includes considering stakeholder needs and agendas during this process. This paper uses an example of a company overstepping ethical boundaries for stakeholder agendas, and what types of preventative measures could be taken to avoid this type of situation. Essay: Success is a common goal of almost all businesses in society today. Success does not come over night and with that being said it is important for management teams to develop a strategic plan in order to grow and set the benchmark for other companies in the industry. While every company should have a strategic plan in order to grow; this plan should be developed and executed with ethics and a great social responsibility. In order to determine the future direction of a company, it is necessary to understand the company’s current position and the possible roads that it can take in order achieve its goals. For this reason a strategic plan is essential for the growth of a company. Every successful business has a plan and knows where it is heading in the future. A financial services business is no different. Taking the time periodically to review the company's past performance can help predict the future performance of the company. With having a prediction of the future gives the company...
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...Oi361 week 4 discussion question #4 Corporations take into consideration vertical accompanied by horizontal incorporation to use its sources or means effectively also to increase synergy (Camarinha Matos, 2002, p.28). Kudler Fine Foods must also collaborate together vertically in addition too horizontally to develop her effectiveness in the marketplace. During the course of vertical integration, Kudler Fine Foods should combine together every parts of profit chain beneath its power. The wrong way around integration, the business must invest in the market gardeners that provide these fresh products. Kudler Fine Foods should also buy a number of the company who bakery bakes different items and sell these products inside to market nationwide. In this case the corporation must improve the control relating towards any supplies or items. In support of foreword integration, Kudler Fine Foods must improve control of delivery stations. Kudler should be able to improve or increase coordination within other stores including Kudler buying location. Kudler could either buy the present delivery station but in case things may be not possible then it is best that Kudler Fine Foods should develop some channel that is better for her business in reach every requirement. For instance vertical collaboration should result with big investment and therefore, money problems may increase. During the same method by using horizontal collaboration is the monopoly of Kudler Fine Foods in...
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...Competition Strategy Formulation Butch Bradley, Benjamin Hinderer, Alicia Pearson, Amy Terre, Vicki Thompson MGT/498 June 24, 2013 Rebekah Benson Competition Strategy Formulation Introduction: Vicki To achieve an organization’s vision a process of strategy formulation is the course of action. Management will factor in goals and objectives derived from organization’s mission statement. Competitive strategy formulation’s purpose is to develop effective performance to improve and secure future position. Steps in the process are measuring internal and external environments, competitive business strategies, creating value sustainable for competitive advantage, and measuring guidelines. This data collection process is essential to successful planning and implementation of innovation Internal Environmental Measurements: Vicki Environmental scanning involves the collection, examination, and distribution of internal and external information for development of a strategic process. Internal analysis is the first step of environmental scanning. Examinations consist of organizational structure, brand awareness, shareholder interactions, natural resource access, operational potential, and employee interactions with management, and other employees ("Management Study Guide," 2008 - 2013). In strategy formulation factors of a SWOT analysis of internal strengths and weaknesses are examined. Management considers the resources of financial, intellectual, and location in the decision-making...
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...Strategic Plan Internal dynamics along with cultural and structural leadership considerations The internal dynamics along with cultural and structural leadership considerations that should be used in implementing business strategy for Riordan is readiness of employees in terms of supporting the new strategic initiatives. Employees should not only be committed towards the implementation of the plan, but should possess extensive knowledge and training and new strategic initiatives. Hence, it is extremely important that Riordan should ensure extensive training for the employees to understand the importance, benefits and know-how to handle the new processes, initiatives and strategic action plan in the organization. It is also important that the existing processes, systems and infrastructure should support the new strategic initiatives in the organization. It is important for Riordan to invest in necessary upgrading of infrastructure and restructuring of processes and systems to support the new business strategies. From a cultural perspective, it is important that Riordan's leadership and management should foster a culture that empowers Riordan's employees to work in a supportive, flexible work environment with adequate decision making authority. The culture of Riordan should be such that employees feel motivated to contribute towards the growth and new initiatives of the organization and remain loyal and committed towards the organization. To develop the quality culture and...
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...Strategic Management Process MGT/498 – Strategic Management Strategic Management Process The strategic management process is a philosophical approach to business that consists of four basic elements: environmental scanning, strategy formulation, strategy implementation, and evaluation and control (Wheelen & Hunger, 2010). This paper examines these elements, why this process is important, and discusses the strategic management process of Microsoft Corporation. Environmental Scanning Environmental scanning involves an in-depth analysis of the factors that can affect the goals of the company (Clayton, 2013). This information is disseminated to the key people within the company and is often conducted through SWOT (Strengths, Weaknesses, Opportunities, and Threats) Analysis. The strengths and weaknesses form the internal environment of the company and look closely at the company’s structure, resources, and culture; whereas, the opportunities and threats are the variables that comprise the external environment (Wheelen & Hunger, 2010). Strategy Formulation Once the opportunities and threats have been analyzed, long-term plans for their effective management are formulated. It is within this step that the company’s mission is clearly set to achieve the desired objectives (Wheelen & Hunger, 2010). During this stage, any issues are prioritized prior to the development of the strategy, and contingency plans created. Economic environments are continually...
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...Nike is the largest seller of athletic apparel around the world. The company stands on performance and product reliability towards their product. The company also states they lead in corporate citizenship through programs that reflect towards the care of their Nike family worldwide. The internal assessment of Nike starts off with their social responsibility and how it is important it is to sustain a growing company. They established a VP position towards social responsibility. They’ve also joined the Fair Labor Association (FLA), Global Alliance for Workforce and Communities (GAWC), and also fund wildlife foundations. This helps with sustaining a positive public image and shows the public that you do care as a company to what the consumer thinks which influences a consumer’s decision. It’s an important competitive advantage because when you sustain your self in the public eye, it creates a strong hold on the company’s influence and gives insight on what consumers want. Another important advantage is Nike’s marketing tactics. They also have an excessive advertising budget that helps with endorser contracts, printed ads, commercials, and sponsorship of activities. This helps with getting the brand name out there and creating a diversity of consumers. Not to mention the fan base from which follow their favorite sports icon that happens to be endorsing Nike products. Nikes distribution line is another important factor and is worldwide. This ensures product demand, development...
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...Strategic Management Process Gregory Solomon MGT/498 January 16, 2012 John Kanz, PhD Strategic Management Process Business strategy is chaperoned through its execution by management with the intention of growing the business, attracting customers, and achieving targeted objectives. A former Chief Executive Officer of Greyhound Corporation, John W. Teets, summates that “management’s job is not to see the company as it is…but as it can become” (Thompson, Gamble, & Strickland, 2005, p. 2). The purpose of this paper is to describe the primary components of a strategic management process, and indicate why a strategic management process is needed in an organization. Additionally, the strategic management process of Ford Motor Company will be briefly discussed for clarity. Although the strategy management process is an intricate part of an organization’s strategic plan execution, it is noteworthy to review the strategy making and executing phases. The five interrelated and integrated phases: Developing a strategic vision, setting objectives, crafting a strategy to achieve the objectives and vision, implementing and executing the strategy, and monitoring developments, evaluating performance, and making corrective adjustments (Thompson et al., 2005). As related to strategic management, this equates to a good strategy coupled with good strategy execution begets good management performance. In brief, poor management can wreck the soundest strategy whereas, good strategic management...
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...Week II Reflection Paper for Team C Strategic planning is not a new concept and is commonly referred to as the solution to many organizational problems. Strategic planning is a continual and systematic process in which decisions are made about intended future outcomes. Planning takes time, work, and the ability to confront difficult obstacles. Financial outcomes are used as a component to measure the success, failure, and strategy effectiveness. S. Scott (2012) stated in the second paragraph, “The focus of a strategic plan is usually on the entire organization, while the focus of a business strategic plan is usually on a product or service”. Without a realistic plan and obtainable goals an organization has no direction. Market opportunity is a factor in shaping a company’s strategic plan, which is why the advantage and disadvantage evaluation process is important. Team C discussions validate that the following week two course objectives are easily understood and are clear to the team: • Objective 2.1 - Measure an organization’s internal and external environments using environmental scanning. • Objective 2.2 - Determine relevant business competitive strategies. Objective 2.1 is easily understood as it relates to environmental scanning, which is the possession and utilization of information about trends within an organizations internal and external environment. Environmental scanning is similar to the SWOT (strengths, weaknesses, opportunities, and threats) analysis...
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...TermPaperWarehouse.com - libre artículos de término, ensayos y documentos de investigación La fábrica de papel de investigación Unirse a Búsqueda Examinar Artículos guardados Búsqueda Página de inicio» Empresa y gestión Mgt498 semana 1 En: administración y negocios Mgt498 semana 1 Proceso de gestión estratégica Gregory Solomon MGT/498 16 De enero de 2012 John Kanz, PhD Proceso de gestión estratégica Estrategia de negocio es destino a través de su ejecución por la administración con la intención de crecimiento de la empresa, atraer a clientes, y lograr dirigidos a objetivos. Un ex Director Ejecutivo de Greyhound Corporation, John W. Teets, summates que "trabajo de la administración no es ver la empresa como lo es como puede llegar a ser" (Thompson, Gamble & Strickland, 2005, p. 2). El propósito de este documento es describir los principales componentes de un proceso de gestión estratégica, e indicar por qué es necesario un proceso de gestión estratégica en una organización. Además, el proceso de gestión estratégica de la Ford Motor Company se examinarán brevemente para mayor claridad. Aunque el proceso de gestión de la estrategia es una parte intrincada de la ejecución del plan estratégico de la organización, cabe revisar la estrategia de realizar y las fases de ejecución. Los cinco interrelacionados y integrado fases: desarrollo de una visión estratégica, estableciendo objetivos, la elaboración de una estrategia para lograr los objetivos y la visión, implementar...
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...Riordan Manufacturing Strategic Plan Executive Summary Riordan Manufacturing Incorporated has seen success over the last few years. At Riordan, staying profitable has not been an issue. To stay competitive within their industry the organization wants to promote growth, but because of a performance gap, which is preventing Riordan from achieving more revenue and accomplishing specific monetary goals by 2013, this new strategic plan in developed. Team B recognizes the dilemma, found an objective, explored options, and recognizes the ideal solutions. The issue is how to bridge the performance gap with a purpose to increase revenue from $40 million to $50 million by 2013 (Apollo Group, Inc., 2006). Through a SWOT analysis and further research, Team B realizes that there are options available to overcome and take advantage of this area of opportunity. To reach the long and short-term goals of Riordan, a differentiation focus is the most beneficial competitive strategy to manage threats, trends, and opportunities. The differentiation focus will make sure to dial in on specific endeavors on total quality improvement and expediential growth in the markets of the United States and China. The company strengths are a synergistic team and ground-breaking research and development. Riordan also needs to take advantage of the booming health care field and provide plastic products that meet the needs of clients in the health care industry. By focusing on the improvement of quality...
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...Strategic Management Process Tonya Nash MGT498 February 17. 2014 Amy Novoa Strategic Management Process Planning is a critical component of success in nearly every endeavor. From vacation planning to a simple trip to a grocery store, the level of efficiency and success is dictated by how prepared one is to complete the task. This concept goes beyond an individual, and is proven to be a crucial part of successfully operating a business of any size. This process, known as strategic management, must be constantly monitored and reevaluated to ensure the company is operating at its peak, and staying true to the unified vision that has been created for its success. There are many aspects to the strategic management process that must be assessed. The primary components of the process are to first evaluate the external and internal environment. This includes observing the threats and opportunities surrounding the business from competitors, so that the organization can maintain its competitive edge. Internally, the company must examine its own strengths and weaknesses, to help ensure that the organization is operating at its most efficient (Wheelen & Hunger, 2010). The next part of the process includes using this information to form a strategy. This is where long term plans are generated, with the goal of using the previous analysis to help the organization follow through with its mission (Wheelen & Hunger, 2010) . The strategy is then implemented, including the creation...
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...Competitive Advantage Marina Castaneda, Lynn Clark, Tyler Anderson, & Linda Young MGT 498 Paul Kramer Competitive advantage in business is something all organizations use as a concept to allow an organization to outperform its competitors. For an organization, there can be many types of competitive advantages. This includes cost structure, product offerings, distribution network, and customer support. We will compare different companies to Riordan Manufacturing and explain which competitive advantages they might have in common and also what competitive advantages Riordan can use to improve innovation and sustainability of business operations in the United States and in the Global Market. Riordans Competitive Strategies Riordan use similar tracking systems as the other companies that were evaluated in week three. They track their sales as do the other companies. They also track trends and utilize customer feedback and information in order to strategically plan for emerging trends in the market. These strategies have allowed them to meet customer demands and the strategies used to do this are similar to Apple, Google, McDonalds, and Starbucks. The information and technology used by these companies have allowed for them to better plan and have allowed for better marketing to customers. Market research is another strategy that is used in determining. These companies have all used market research and a trend to ensure that they are offering competitive...
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...Manufacturing Strategy Shavone Homer OPS/571 June 01, 2015 Professor W. Page Manufacturing Strategy Intro Summary of Concepts TOPIC I: SAM Enter Text Metrics and Supplier Relationship Periodical review of supply chain performance is essential to developing efficient processes to meet the demand for products manufactured by Riordan. Performance evaluations enable managers to benchmark goals, organize workload and analyze cost efficient processes within each phase of the supply process. Metrics establish standards of efficiency and an adequate median to accommodate for the product demand. The Supply Chain Cycle Time and Inventory Analysis will be evaluated to measure the efficiency of the electric fan supply chain. Analysis and improvements of the Supply Chain Cycle Time and Inventory Analysis can result increase the competitive advantage of Riordan with other businesses in the industry. The analysis of the Supply Chain Cycle Time allows managers to identify the time to fill a customer order in the absence of an existing inventory. A short cycle time may be a strong indication of an efficient time to manufacture the product. The time needed to meet the demand of customers is essential to establishing a customer base and increasing revenues. Products must be manufactured within sufficient time to meet the demand of customers to avoid cancelled orders and excess inventory. Riordan manufactures standard and custom bottles based on an annual contract consisting of quantities forecasted...
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