...parts for the organization. Team A will develop a Team Strategy Plan of which we will identify several strategies in building viable teams, identify challenges or barriers that may occur, determine the best approach, and measure the teams efficiency. While developing these teams, Team A will create a Conflict Management Plan of which we will analyze the teams strengths and weaknesses, implementation of different conflict management strategies, select the best approach, identify potential challenges, and consider alternate strategies that will foster an efficient team. The Various Strategies Available to Build Teams Riordan Manufacturing is striving to create the perfect teams of employees to generate the best possible production of the newly designed CardiCare Valve heart valves. Creating those perfect teams requires much planning and organization. An important thing that Riordan needs to think about when trying to construct their teams is the number of members of each of the team. Generally speaking, the most effective teams have five to nine members (Robbins & Judge, 2011). When teams are larger, coordination and communication amongst its members may be an issue making it harder to get work done. Another thing for Riordan to consider when building their teams is the purpose each of the teams. Effective teams begin by analyzing the team’s mission, developing goals to achieve that mission, and creating strategies for achieving the goals (Robbins & Judge, 2011). Setting...
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...* Most recent or former employer * Place of business that you have patronized or have been familiar with over a long period of time. Avoid choosing an organization that is so large that historical data would be difficult to apply. Firms in the Russell 2000® index may fit well, whereas firms in the Dow 30 Industrial index probably do not. The organization can be a start-up that you or a significant other may create in the future. For a start-up, focus on an entrepreneurial idea that is of substantive interest, so this project leaves you with a product you may leverage in the future. Write a paragraph to justify selecting this organization. Include the following: * The organization's name * The purpose for this organization * Why this organization is of interest to you * Availability of organizational data: Avoid selecting an existing organization for which there is no publicly available historical data Your facilitator...
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... Module 3 - Assessing the Economic/Geographic Environment Module 4 - Assessing the Social- Cultural Environment Module 5 - Assessing the Political Legal Environment Module 6 - Selecting a Global Company Structure Module 7 - Financing Sources for Global Business Operations Module 8 - Creating a Global MIS (Management Information System) Module 9 - Identifying Human Resources for Global Business Activities Module 10 - Managing International Financial and Business Risks Module 11 - Product Target Market Planning for Foreign Markets Module 12 - Designing a Global Distribution Strategy Module 13 - Planning a Global Promotion Strategy Module 14 - Selecting an International Pricing Strategy Module 5 - Determining Organizational Financial Results Module 16 - Measuring International Business Success Conclusion Bibliography...
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...Assessing Strategy Formulation Worksheet The assessment provides a systematic way of rating your organization’s ability to formulate strategies. Instructions Below is a list of guidelines from Yukl, (p. 377) and David (p. 338) related to effective strategy formulation. Use the following scale to indicate the extent to which your organization incorporates these guidelines in their formulating strategic plans. |0= not at all |3= to a great extent | |1= to very little extent |4= to a very great extent | |2= to a moderate extent | | Step 1: Rate your organization’s strategy formulation process on the following: Not at Very Little Moderate Great Very Great all Extent Extent Extent Extent Rationale Guidelines | | | | | | | |Determines long-term objectives and priorities. | 0 | 1 | 2 |3 | 4 | | |Assesses current internal strengths and weaknesses. | 0 | 1 | 2 |3 | 4 | | |Identifies core competencies | 0 | 1 | 2 |3 | 4 | | |Evaluates the need for a major change in strategy. | 0 | 1 | 2 |3 | 4 | | |Identifies promising strategies. | 0 | 1 | 2 |3 | 4 | | |Evaluates the likely outcomes of a strategy. | 0 | 1 | 2 |3 | 4 | | |Involves other executives in the...
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...Mind map and 2. Smart which stands for specific, measurable, attainable, realistic and time bound . Second, developing the planning premises. The assumptions and conditions must be clearly defined: tools and decision table. Third, reviewing limitations which are: Constraints or limitations Finance Human resources Materials Power Machinery Tools: SWOT Analysis. The most renowned tool for audit and analysis of overall strategic position of the business and its environment. It key purpose is to identify the strategies that will create a firm specific business model that will best align an organization’s resources and capacities. Strategy . The plan of action designed to achieved a specific goal. Then gaining or being prepared to gain a position of advantage over adversaries or best exploiting emerging possibilities. The strategic planning process they include: Mission and objectives, environmental scanning, strategy implementation and evaluation. Environmental scan that includes internal analysis of the firm and analysis of the firm’s industry (task environment). Task environment is the segment of external environment made up of specific outside elements the manager and its organization interfaces in the course of conducting the business. They include: customer & clients, competitors, suppliers, labor supply and government agencies External macro environment (PEST or...
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...shipping, purchasing, networking, and marketing. Gerstner realized that IBM’s true potential was deeply imbedded in its strengths, which were research and integrated computers. Within about 1 year of Gerstner taking charge, IBM developed software which would allow computer systems to “talk” or network, and this change would cement IBM’s fate and allow the computer giant to remain at the top of the industry (Allen, Attner, & Plunkett, 2013, p. 124-125). Questions 1. Work with another student to answer the following questions. What strategy changes did Gerstner use to solve IBM’s situation? Develop your answer by selecting specific strategies relating to corporate, business, and functional strategy options. As soon as Gerstner realized that he had inherited a sinking ship, he devised a bold plan that was crucial to IBM’s ultimate financial stability. Gerstner’s master plan was actually a combination of two different strategies. The...
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...Exam case “Strategic Leadership at Coca-Cola: The real thing” Assignment questions: 1. Analyze personal characteristics of top managers of Coca-Cola. How effective was leadership of Coca-Cola executives? What theoretical background you may apply to identify leadership styles of each top manager? Goizueta This person could be identified as a strategic leader, because his style of leadership was in changing Coca-Cola financially, organizationally and culturally. He combined best elements of managerial and visionary approach. He was focused on ideas and the future of organization and was known as business philosopher and emphasized the need for leaders to establish the sense of direction. He felt comfortable to “define the character of the company from his office” and gave people responsibility and authority to get job done e.g. left operational work to his CEE when he was focused on his own role with regard to brand building, making deals and selling concentrate.Goizueta were ready to change things and he considered Coca-Cola as too conservative and wanted to change things. He said, “The world is changing and we are not changing with the world.” Goizueta was also ready to take risks e.g. when he decided to put Coca-Cola trademark on a new product. Goizueta emphasized the importance of relationships and encouraged speedier decision-making. Ivester His leadership style could be described as managerial, (with some elements od strategic) because he focuses on both day-to-day...
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...University of Phoenix Material Team Strategy Plan 1. Complete the following table to address the creation of teams at Riordan Manufacturing. Strategy | Strengths | Weaknesses | Financial strategies | Expect to account 60% incremental sales | marked by the end working with customers | Planning | Clear goals | Direction of failure | Business practices | Global competition | Increasing social responsibility | Selecting team members | Creating successful teams | Channels of communication | Distribute job duties | Complete tasks on time | Efficiency is lacking | 2. Identify the team formation strategy that is most suitable for Riordan Manufacturing, and provide the rationale for the decision. Your response should be at least 100 words. Shape product and solutions working as a team. Providing rationale within the company to assist employees sustain positive interpersonal relationship within the organization. . Provide resources for strategy development and implementation providing useful ways of managing complexity, such as stakeholder’s analysis’s scenario development, clarification of distinctive competencies, strategic issues identification. Teaching personal how to problem solve through management to resolve conflict. Management need to address employee’s likes and clear expectations of each individual. By communicating the incentives to the teams and orientating gender difference to build teams. Management must make the goals and objectives...
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...product. This paper will outline a plan that managers in this company could follow in anticipation of raising prices when selecting pricing strategies for making the products response to a change in price less elastic. Next, this paper will examine the major effects that government policies have on production and employment, predict the potential effects that government policies could have on the company, determine whether or not government regulation is needed to ensure fairness along with identifying the major reasons for government involvement in a market economy, provide two examples of government involvement, examine the major complexities that would arise under expansion via capital projects and propose key actions that the company could take in order to prevent or address these complications. Lastly, this paper will suggest the substantive manner in which the company could create a convergence between the interest of stockholders and managers and indicate the most likely impact to profitability of such a convergence. Outline a plan that managers in the low-calorie, frozen microwaveable food company could follow in anticipation of raising prices when selecting pricing strategies for making their products response to a change in price less elastic. Forecasting is a crucial part in the anticipation of raising prices and selecting pricing strategies. Analyzing what triggers a change in price elasticity is vital as well. In order for the outcome to be at its best, the company’s...
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...the end of the session the student should be able to understand the decision making process, the various types of decision making and the planning process in an organisation. They are also expected to comprehend the outcomes of a planning process like vision, mission, objectives & strategy. The module has 4 sessions Topics – Module 2 (4 sessions) Decision making Types of planning The planning process/ framework Strategic planning in an organisation Outcomes of planning process Hierarchy of strategy MBO – Peter Drucker Decision Making ‘the process of identifying & selecting a course of action to solve a problem / take advantage of an opportunity’ Problem – the discrepancy between ideal & actual situation ‘Problem – something that that endangers the organisations ability to reach its objective Opportunity – some thing that offers a chance to exceed objectives’ Peter F Drucker Problem finding process Deviation from the past experience Deviation from set plan Other people Performance of competitors intuition Problem finding - errors False association of events False expectation False self perception & social image Other factors Threshold of problem recognition Setting priorities Selecting the right ones – leave the easy ones Allow self solutions Types of DM STRUCTURED Made under established situation i.e. definable, predictable & analysable Called programmed DM Routine problems Application of rules/ procedures/ habits Lower management Recurring Less human touch...
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...and Contrast the Linear and the Adaptive Approaches to Strategy Formation A strategy is commonly explained as a broad plan developed to take an organization from where it is to where it wants to be. A well-designed strategy will help an organization reach its maximum level of effectiveness in reaching its goals while constantly allowing it to monitor its environment to adapt the strategy as necessary. Strategies are established to set direction, focus effort, define or clarify the organization, and provide consistency or guidance in response to the environment. Each organization ends up developing its own nature and model of strategic formation, often by selecting a model and modifying it as they go along in developing their own planning process. Certain models such as the Linear and Adaptive approaches are identified by Chaffee (1985), for the purpose of strategy development, and hence they will be further outlined as the topic develops. According to Chaffee the linear approach consists of making decisions and formulating plans of action that will set and achieve viable goals. This tends to predominate in top-down organizations and assumes that future conditions will be fairly stable or predictable. It is a planned determination of goals, initiatives and allocation of resources, along the lines of the Chandler definition, which recognizes the importance of coordinating management activities under a well-structured strategy. Interactions between functions were typically handled...
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...Strategic planning is more than ensuring your association will remain financially sound and be able to maintain its reserves—it’s projecting where your association expects to be in five, ten, or fifteen years—and how your association will get there. It is a systematic plan- ning process involving a number of steps that identify the current status of the association, including its mission, vision for the future, operating values, needs (strengths, weaknesses, opportunities, and threats), goals, prioritized actions and strategies, action plans, and moni- toring plans. Strategic planning is the cornerstone of every common-interest community. Without strategic planning, the community will never know where it is going—much less know if it ever got there. An important concept of strategic planning is an understanding that in order for the community to flourish, everyone needs to work to ensure the team’s goals are met. Team members include all association homeowners, the board of direc- tors, professional management—whether onsite or through a management company— and various service professionals such as accountants and reserve professionals. This team needs to work as a collective body to be successful. Part of the team concept is the establishment of roles for the team players. Teams usually perform poorly if everyone or no one is trying to be the quarterback. Strategic planning is a relatively new genre of planning, adapted from primarily two sources. Business schools have equipped...
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...•Compensation • Benefits • Industrial relations •Health and safety programs •Manage diversity What is strategy? 'Strategy defines the direction in which an organisation intends to move and establishes the framework for action through which it intends to get there.' The purpose of strategy is to maintain a position of advantage bycapitalising on the strengths of an organisation and minimising its weaknesses. To do this, an organisationmust identify and analyse the threats and opportunities present in its external and internal environments. What is strategic management? Strategic management is the process whereby managers establish an organisation's long-term direction, setspecific performance objectives, develop strategies to achieve these objectives in the light of all the relevantinternal and external circumstances and undertake to execute the chosen action plans. The aims of strategicmanagement are to help the organisation to achieve a competitive advantage and to ensure long-term successfor the organisation. Components of strategic management Strategic management involve Strategy formulation - selecting an organisation's mission, or purpose, andkey objectives; analysing the organisation's internal and external environments; and selecting appropriate business strategies, and Strategy implementation - designing an organisation's structure and control systemsand evaluating the selected strategy in achieving the organisation's key objectives. Organisational mission...
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...Whittington’s Theories of Strategy What Whittington (2001) has tried to do is collate various theories about strategy over the last 40 years or so and put them into four categories. He has taken a Western viewpoint. The way he has done so is to place certain approaches to strategy in four decades. As you know, there are several different definitions of strategy from Mazzucato’s on page 1 of the Reader, Porter’s on page 11 and the ‘classical’ one of Chandler’s on page 34. What Whittington has done is to place the prevailing approaches to strategy in the early 1960’s USA in the ‘classical’ approach to strategy according to Chandler’ s definition, as well as from contemporaries such as Ansoff and Sloan. This definition and perspective falls into the ‘content’ aspect of strategy, i.e. it states WHAT strategy is. In the Classic perspective, the focus is on a rational, logical approach, which appears to be more appropriate to large, mature and stable industries. This was the context of the USA, when very large American firms dominated the industrial world. The American economy was healthy, robust and growing and expectations in the USA were that people would keep on buying new products, especially cars, to fulfil the ‘American Dream’. Fuel was plentiful and cheap in the USA. The Classical perspective looks more at the rational approach, in which planning plays such an important part. It was prominent during the 1960s in the USA, the research being undertaken into...
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...* * Riordan Manufacturing superintendents have come up with a plan to create and lead new teams. The purpose of the new teams is to begin production of the newly designed CardiCare Valve heart valves. As part of the superintendent’s teams I have created a plan to identify various strategies available to build teams, challenges or barrios and measures used to determine if the team is operating successfully. The plan is divided into two sections Team Strategy Plan and Conflict Management Plan. * * Team Strategy Plan: * There are five stages of group development forming, storming, norming, performing, and adjourning. The first stage forming is where team members meet and exchange information about each such as experiences and backgrounds. In this stage team members are accepting and avoiding conflict. The second stage is storming team members have different opinions of how and what thing should be done and who should be in control. This may cause some conflict within the teams. The third stage is norming where teams begin to work more effectively together. Team members respect each other’s opinion and differences. The fourth stage is performing teams are fully functional and accepted. Members have gotten to know each other by this stage and are able to the task at hand. The last stage is the adjourning stage where the task is coming to an end. * * One of the challenges we must teams face is conflict. Conflict can result in increase in turnover rate,...
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