...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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...1. Describe the activities involved in strategy formulation versus those involved in strategy implementation. The strategy formulation refers to the process of choosing the most appropriate course of action for the realization of organizational goals and objectives and thereby achieving the organizational vision. The process of strategy formulation basically involves six main steps. The first step is developing a vision and mission. The key component of any strategy statement is to set the long term vision and mission of the organization. These are known that strategy is generally a medium for realization of organizational objectives. Objectives stress the state of being there whereas strategy stresses upon the process of reaching there. Strategy includes both the fixation of objectives as well the medium to be used to realize those objectives. Thus, strategy is a wider term which believes in the manner of deployment of resources so as to achieve the objectives. While fixing the organizational vision and mission, it is essential that the factors which influence the selection of objectives must be analyzed before the selection of mission. Once the mission and the factors influencing strategic decisions have been determined, it is easy to take strategic decision. The second and third steps are identifying an organization’s external opportunities and threats and determining internal strengths and weaknesses. These are to evaluate the general economic and industrial environment...
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...environments. These environments include: the external or operating environment; the competitive environment and the macro environment in which influences such as the economy, government regulations, societal values, demographics and technology come to bear upon an organization. The external influencers included talents and the skills in the workforce, global competition, faster and more disruptive change within the industry, and technological developments. In today's world, organizations are very different due to competitive pressures and technological breakthroughs. Organizations today are: * leaner and more agile * more focused on identifying value from the customer perspective * more tuned to dynamic competitive requirements and strategy * less hierarchical in structure and decision authority * less likely to provide lifelong careers and job security * Continually reorganizing to maintain or gain competitive advantage. (Judith Heerwagen, Ph.D., J.H. Heerwagen & Associates, 2010) Today’s businesses face unique challenges. Leaders are confronted with increased competition, globalization, and demand for growing social responsibilities, technological...
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...STRATEGIES FORMULATION Business Strategies As there are rapid growth credit card business Hong Kong, Hang Seng Bank need to put more effort to increase their credit card customer base. They should put more resources in developing credit card products and improve services. Functional Strategies Product Strategies The Boston Consulting Groups(BCG) Growth-share matrix is applied to assess the sizes and positioning of the Credit Card. Hang Seng Bank Credit Card business is positioned as ႓Star႔ as it has covered high relative market share in fast growth credit card business. The Bank႒s credit card business is lucrative and will become the Bank႒s further cash cow. The bank has to spend substantial fund to keep up with high market growth rate and fight off its competitor႒s attacks. Product Development In order to serve in such a competitive environment. Hang Seng႒s target is to provide premium credit card products supported by premium customer Services. Apart from strengthening its existing business, the bank also made progress in diversifying its credit card business and expanding its customer base. Marketing To improve the credit card business in the industry, the bank has adopted a new marketing strategy. Traditionally the bank relied solely on the ႑word-of-mouth႒ approach to promote the services. Such strategy was most successful in the old days but would need to be supplemented in today႒s world of communications. More marketing promotions have thus...
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...Kotler, Keller, Brady, Goodman and Hansen (2009: 105) suggest that ‘a strategy is a game plan for a business to achieve its objectives; a statement of long-range intent and direction than short-term actions.’ However, all organisations exist in dynamic markets therefore its strategy focus on its market, its customers and its value proposition, may have to be operationalised as short term activity, in response to external, industry, market, competitor and customer analysis; using tools such as portfolio analysis namely the Boston Matrix, Porter’s five forces, Grant’s key success factors, the Ansoff Matrix, a micro and macro-environment analysis, industry and segmentation analysis, market positioning analysis, innovation and new product development and the marketing mix. Presumably, every organisation would be responsible to its stakeholders and shareholders and formulate its strategy being informed by such business investigation/intelligence. In the absence of such information in the Capitec Bank: Low-Cost Banking for Joe Average case study (Townsend and Mosala: 2006), such is going to be assumed. The facts and figures from 2002 to 2006, point to the success in profit and volume growth of the Capitec strategy of ‘providing low-cost basic banking services to the lower to middle-income market, and to create a bank that offered everything to everybody.’ From public source information, the Fin24 and BusinessLive (2011) the focus on banking the unbanked remains a key national issue...
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...Unit 3 Strategy Formulation Ronald Rogers MGT680-1303A-01: Strategic Management American Intercontinental University Synopsis Often a business, particularly a startup, has little to no choice in when to introduce a product or service. However, given the opportunity, market information, and competition data, managers should be able to make valid choices concerning the release time of that product. This paper addresses the advantages and disadvantages of first move or late move into a market. It also explains how and why companies have succeeded and failed in both theories. Part One: First Mover Theory First Mover Advantages (FMA) FMAs have a unique opportunity to create barriers to competition such as limited resources and patents. They may have a sustainable advantage in technology that is Intellectual Property (IP), R&D, Patents, and resources. They have a monopoly of sorts, however short term that it may be (Lieberman & Montgomery, 1988). Rapid expansion of market share with a new product is extremely likely. Introducing new products involves in-depth market research and a large investment of time and other resources. The results of the market penetration by a first mover can be difficult to overcome for subsequent entries. Setting the benchmark is an advantage that first movers can exploit. If they introduce a product that becomes a high demand item, establish the brand name and provide good service, then they set the bar really high for late entries...
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...Globalization Versus Normative Policy: A Case Study on the Failure of the Barbie Doll in the Indian Market Priti Nemani* INTRODUCTION .......................................................................................... 97 I. GLOBALIZATION AND THE MULTINATIONAL ........................................ 99 A. Globalization Defined ................................................................ 99 1. The Key to the Kingdom: The Globalized Brand ............. 100 B. Barbie in the Global Economy ................................................. 102 1. Barbie‘s History................................................................. 102 2. Corporate Philosophy and Marketing Strategies behind Barbie ................................................................................ 105 II. MATTEL‘S BUSINESS VENTURES IN INDIA ......................................... 107 A. The Late 1980s: Barbie’s Tango with the License Raj ............. 107 1. The Licensing System ....................................................... 109 2. Limits on Foreign Direct Investment .................................110 3. Mattel‘s Joint Venture ......................................................... 111 B. India’s Economic Liberalization and Mattel’s Second Chance at Success...................................................................................113 1. India, the IMF, and the World Bank ...................................113 2. Mattel in India from 1993-2010 ...............................
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...Introduction Strategy formulation is at the core of any firm which is willing to sustain in its environment, rather than being taken by surprise with an unfavorable turn of events, which could threaten its survival. The environment depicts all the forces that interact with and influence a firm in its operations. These forces are more or less important and threatening to a company. They range from the customers to the competition, through laws and environmental regulations and encompass a very broad number of actors in any competitive environment. Political activity is perhaps one of the most important forces to monitor and manage for companies. It relates to the laws and regulations that shape the competitive environment, and companies have numerous opportunities and ways to influence them. In this regard, this paper will address the ways that firms have to manage the uncertainty of their environment through corporate political strategies. The analysis will start by clarifying the relations between the firm and its political environment, in order to see which topics deserve a stronger focus when developing a corporate political strategy. Then, a distinction will be drawn between corporatist political systems and pluralist ones, so to give an indication on which kind of strategy to choose. Finally, it will be possible to give more details about the means that companies have to pursue their corporate political strategy, considering that their relevance depends on the political...
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...Polyjacking vs. Mudjacking in Huntsville, AL Do you have deteoritating, flaking or chipping concrete? Is your sidewalk or driveway unlevel? If your driveway, patio, or porch steps are sinking, you need our concrete repair services. We can lift and re-level your problem spot without the inconvenience and expense of a complete tear-out and concrete re-pour. As patios, walkways and driveways crack, uneven cracks develop. In addition to being an eye sore, cracked and unlevel concrete can be tripping hazards to you and your family. Fortunately, mudjacking and polyjacking can solve many sinking concrete problems instead of facing a concrete tear-out and new concrete pour. Both methods offer the same results - to lift and level sunken concrete by injecting material into drilled holes. However, choosing the best concrete repair method can be a difficult decision. To pick the best solution for your needs, it's important to know the difference between polyjacking vs. mudjacking. h2: Mudjacking in Huntsville, AL Affordable Foundation and Home Repair has over 20 years of mudjacking experience and proudly serves the Huntsville area. Anytime the concrete on your property sinks, it leaves damaging voids under the house and structure. To lift concrete to its original position, voids are filled under the affected slab with a thick mixture of clean soil and cement. This slurry mixture is injected with force, then lifts and raises the sunken concrete back into position. Grout is then added...
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...Strategy Formulation and Implementation MBA 980 Spring, 2009 Professor Jay Dial Office 860 Fisher Hall Email dial.12@osu.edu Phone 292-5438 Reading packet There is a required reading packet available at Uniprint-Tuttle Park that includes course readings, cases and lecture notes for classroom discussion. This is copyrighted material and each student must purchase an individual copy of the reading packet. Additional highly recommended readings will be selected from Management Skills: A Jossey-Bass Reader (ISBN # 0-7879-7341-6). It is available from both BarnesandNoble.com and Amazon.com. Course Overview This course is about the creation and maintenance of long term value for the organization. It is concerned with both the determination of the strategic direction of the firm and the management of the strategic process. The course builds on prior studies of functional areas while recognizing that most real business problems are inherently multi-functional in nature. Thus, this course employs an explicitly integrative approach in which we adopt the role of the general manager who has the responsibility for the long-term health of the entire organization. The course would be taught primarily through the case method of instruction. Course Objectives 1. Understand the nature of strategic competitiveness and develop the ability to analyze the competitive environment facing a firm, assess the attractiveness of the industry and isolate potential...
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...1. Executive Summary Intent of this report is to gain a better understanding of the effects of the external environment to an organization. We have selected “Dell” as the organization and we wish to study the planning and implementation of Dell’s Strategies. Report starts from briefing the background of this chosen organization. Moreover, some of the external factors have been discussed by presenting a view of SWOT analysis of ‘Dell’. Further part of the report will illustrate the review of already existing business plan and strategy of that enterprise. Furthermore, listed are the factors affecting this strategic plan, in which vision & mission, objectives and other measures have been taken into account. Despite their strengths Dell has many challenges it needs to overcome right from the increase in the competitors to a dire need in breakthrough innovation which is essential. With the increase in innovation in the market the computer systems are becoming outdated, so Dell should constantly come out with new products. Also, People need the quality products at low price which was Dell’s strength due to its customized solution, but now its competitors are coming up with products in same price range. To identify these business concerns, it has been noted that the company has a sound and dynamic consideration while managing its product portfolio as well as conducting its target markets. This has helped the company to stabilize its financial status through sales generation and cost...
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...Asian Paints Limited is an Indian chemicals company headquartered in Mumbai, India.[3] It manufactures a paints for decorative and industrial use. Asian Paints is India's largest paint company and Asia's third largest paint company, with a turnover of Rs 96.32 billion. Besides Asian Paints, the group operates around the world through its subsidiaries Berger International Limited, Apco Coatings, SCIB Paints and Taubmans. Asian Paints has acquired 30% stake in Dutch Boy Philippines from Berger International Limited (BIL), an indirect subsidiary of Asian Paints. Asian Paints executed a conditional stock purchase agreement relating to the sale of 427,000 shares of Dutch Boy Philippines, which ceases to be an associated company of BIL. Asian Paints, Ltd. (APL) has entered into a 50:50 new joint venture agreement with PPG Industries, Inc. (PPG), a US-based provider of paints, coatings and speciality products, to accelerate the growth of non-decorative coatings business in India. This is the second joint venture between APL and PPG. They currently have a 50–50 joint venture named Asian PPG Industries Ltd (APPG). APL and PPG have agreed that APL will take lead in the second venture, while PPG will take lead in APPG in order to utilise their respective strengths to best capture the growth in infrastructure development and globally driven markets in India. APPG currently services the Indian transportation coatings market and this change will expand its scope to additionally service...
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...Indian Paint Market to reach Rs495bn by FY17: IPA Study | | India Infoline News Service/ 09:35 , Jan 21, 2013 | The theme for this year’s conference Coating 2020 – Future Redefined; will witness industry stalwarts converge to analyze and redefine the future of coatings industry in India. | Indian Paint Association (IPA), the apex body of the Indian Paint industry, is hosting the 26th Indian Paint Conference which is scheduled between 18th – 20th January 2013, at Hotel Grand Hyatt in Mumbai. The theme for this year’s conference Coating 2020 – Future Redefined; will witness industry stalwarts converge to analyze and redefine the future of coatings industry in India. In order to have a better understanding of the paint market in India, IPA, has appointed AC Nielsen to undertake a detailed and comprehensive study to estimate the size of the market, both in decorative and Industrial paints. Indian Paint Market – Size & Future coating industry’s latest report by AC Nielsen will also be unveiled at the conference. This report will cover the estimated trends in different product categories with an in-depth analysis of the end user market in the decorative paints segment. Key highlights of the Study by IPA & AC Nielsen: Indian paint market is expected to reach 49,545 INR Crs by 2016 – 17, decorative market will continue to grow and would have higher share compared to industrial paints. Overall paint value market is estimated at 26,040 INR Crs for...
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...Julie Dimayuga Gabriel Manasan Spandan Mahanta CORPORATE CAUSE: We shall uplift the pride and economic well-being of the societies we serve. Splash is a world-class company that is committed to making accessible, innovative, high-quality and value personal care products for everyone. We are a marketing company in the beauty, personal and healthcare industries where we shall be known for strong brand management of pioneering, high-quality and innovative products derived from extensive research, to improve the well-being of our consumers. We shall do this through: Leading edge trade and consumer marketing systems. Pursuit of excellence in all other business systems. We shall be generous in sharing the rewards with our employees, business partners, stockholders and our community for the realization of our corporate cause. MISSION VISION VALUE CURVE & KSF 10 9 8 7 6 5 4 3 2 1 0 Branding Reach Product Development Market Research Value Splash MNCs Key Success Factor KSF Product Development Market Research Price Reach Branding 30% 50% Old Metrics(MNC’s only) 20% New Metrics(With Splash) 25% 25% 15% 10% 25% PERCEPTUAL MAPPING OF SPLASH Perceptual Map of the Skin Care Industry in the Philippines Cheap Low R&D Expensive High R&D PORTERS FIVE FORCES Potential Entrants (Threat of Mobility Supplier (Supplier Power) Industry Rivalry Buyer (Buyer Power) Substitutes (Threat of Substitutes) SWOT ANALYSIS S TRENGTHS W EAKNESSES ...
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...What is technology doing to and for us? Sitting on the playground with a tablet avoiding a couple kids; playing with jump ropes, draw with chalk on the ground, playing hop scotch, teeter totter and swinging on the monkey bars. A seven-year-old boy is playing basketball on the tablet and when asked by his friend to come play basketball on the court. He reply’s “I don’t wanna, I’m playing on my tablet.” In schools, students are learning skills that they will need to carry them through life and to find jobs. Schools use technology more and more everyday to teach kids and relate to them. Kids are allowed to bring their own devices to class such as tablets, Ipads, and Mini Laptops and use applications that the teacher may require them to. Clearly, technology is becoming increasingly essential to learning. Students with basic academic skills improve with the use of everyday technology. With the speed of technology solving problems is becoming achievable at a faster pace. A good example of that is finding out about schools closing during bad weather. You can have an email sent to you, or even a text message sent to your mobile device, letting know if you have class. Performing school tasks as in writing research papers, finding out your grades for the semester, and submitting work is so much easier. For example flipping through pages to find a word in the dictionary while looking over it once or twice became easier. Now, you can type it in online and in seconds...
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