Critical Roles in Identifying Strategy - Free Essay Example

As outlined by Swamidass as well as Newell (1987), Strategy means actions or perhaps styles involving actions created for the particular accomplishment of targets. Put simply, within a good organizational environment, method to be a managing vocabulary should go much further as compared to mere objectives to behave or perhaps designed method; it (strategy) in addition considers individuals à ¢Ã¢â€š ¬Ã‹Å"sequence involving decisionsà ¢Ã¢â€š ¬Ã¢â€ž ¢ that indicate proof of a new à ¢Ã¢â€š ¬Ã‹Å"posteriori consistenciesà ¢Ã¢â€š ¬Ã¢â€ž ¢ in the way that judgments usually are used, specially inside a business structure setting (Mintzberg, 1978). Mainly, the idea of method identifies à ¢Ã¢â€š ¬Ã…“organizational method that specifies precisely how a good enterprise or perhaps its business units accomplish and keep competitive edge within its industryà ¢Ã¢â€š ¬Ã‚  Pun (2005: pg284). One of the fundamental matter of conversations which has always been central to analysts along with experts inside career fields of macro organizational actions of actors from the corporate and business group along with arranged supervision could be the study of the human relationships which exist among tactic along with composition within significant, complicated organizations. Even so, Burgelman (1983) feels that previous investigation conducted in this area possesses merely created disagreeing propositions based on the directionality of such relationships. Repeating more, they feel that each propositions: à ¢Ã¢â€š ¬Ã‹Å"strategy employs structureà ¢Ã¢â€š ¬Ã¢â€ž ¢ along with à ¢Ã¢â€š ¬Ã‹Å"structure employs strategyà ¢Ã¢â€š ¬Ã¢â€ž ¢ look like logical according to which often human body involving empirical research is needed to be able to improve the particular discussion. However, this article of an approach is critical any time issues involving dependability upon, in addition to uniformity in the approach are generally involving utmost worry. The Pettigrew in addition to Whipp (1993) design offers called this article involving approach sinceà ¢Ã¢â€š ¬Ã…“the assessment and choice of products and markets, setting objectives and targets with some evaluationà ¢Ã¢â€š ¬Ã‚ Ãƒ ¢Ã¢â€š ¬Ã‚  (cited via Hutchinson, 2001: pg271). Inside the context involving area regeneration, as outlined by Hutchinson (2001), the content involving strategy will be the range of themes or templates, top priority areas, or perhaps groupings rather than products or markets. The à ¢Ã¢â€š ¬Ã‹Å"area involving regenerationà ¢Ã¢â€š ¬Ã¢â€ž ¢ viewpoint, since Hutchinson (2001) has additionally suggested, enables you to examine what approach really claims since the section of regeneration is known to prioritize area of needs. Repeating further, hes on the view that strategy content may be the selection made to focus on key issues for instance enterprise support, environment improvement, in addition to the inside investment. The spot involving regeneration methods, nevertheless, wil l be very cynical in the value of the strategies, plus the quest in addition to value statements especially, associated with a firm (Hutchinson, 2001: pg272). Quite a few aids that behave as the determinants regarding strategy content, that happen to be likewise known as the à ¢Ã¢â€š ¬Ã‹Å"trinity of forcesà ¢Ã¢â€š ¬Ã¢â€ž ¢, are acknowledged. Like for example, strategy process, content, and also (internal and also external) context forces (Pettigrew and also Whipp, 1993; Hutchinson, 2001; and also Pun, 2005). In this record, stress is going to be on the vital analysis of the importance of the process and also context of strategy in determining the strategy content. In the section below, an assessment of the function of strategy process as being a determinant of strategic content are likely to be presented. An evaluation of the purpose of strategy context in terms of strategy content determination may succinctly comply with in a pursuing section. A section on conclusion of the re cord is going to be presented later. Strategy Process as a Determinant of Strategy Content Strategic process, as a force, basically consists of the subsequent entities: implementation and/or strategy formation, change managers, pattern through time and models of change (Pettigrew Whipp, 1993; Hutchinson,2001; Pun,2005). The strategy process, being a significant force that ascertains strategy content, may ideally be termed as models. Those models are determined as: Rational Process Model- It facilitates finance allocation to project as well as strategic guidance usually directed to management. The Stakeholders Model- Here, effectiveness of organizationà ¢Ã¢â€š ¬Ã¢â€ž ¢s strategy will take place only when it complies with the need of its stakeholders groups. The Decision Process Model- Here, some major questions are answered by strategy development such as; where to go? How to get there? What actions should be taken? How to know that we are on right track? (Hutchinson , 2001: pgs270-271) A rational process of strategy, with the change managersà ¢Ã¢â€š ¬Ã¢â€ž ¢ factor, can often be led simply by major managing authorities and also consulting a broader array of specialists. A stakeholderà ¢Ã¢â€š ¬Ã¢â€ž ¢s model, on the other hand, normally takes on that stakeholder easily contemplate much broader debate and as a consequence, identification of problems and their negotiation in achieving the mutual agreement between almost all stakeholders is on course (Pun, 2005). The decision model focuses on the problem of domiciliation of decision-making power. Nevertheless, Hutchinson (2001), states that the dynamic underlining the rational process model will be in a way that formulation of the strategy is a significant end result; it may actually end up being seen that the procedure for putting the many parts of a strategy together can often be as significant as the document itself. Strongly disagreeing, Healy states à ¢Ã¢â€š ¬Ã…“strategy does not just lie in the text of same plans. It lives in the minds of actors in policy communitiesà ¢Ã¢â€š ¬Ã‚  (Healy, 1997: pg4). Thus it is true that if an array of partners has participated within the strategy development process they are more dedicated to its successful implementation. In a distinct development, a premise to understanding a strategy can be provided through the pattern of time, which has to be in line with the amount of time it takes to implement the strategy. Among the key inferences drawn by Bramwell (1997) is that: à ¢Ã¢â€š ¬Ã…“an effective strategic response has only evolved after the event, but that nevertheless it is effective. The extent of that success will however only be observable over a long-term perspectiveà ¢Ã¢â€š ¬Ã‚  Bramwell (1997: pg173). Strategy Context as a Determinant of Strategy Content Strategy context as another significant force when determining strategy content, in the models mentioned above, can be divided into two primary elements: In ternal and External environmental strategy context elements. The idea within the internal strategy context, the ways at which an organization configures itself in order to achieve its strategic goals will often be included in the strategy development, has been reinforced in the business literature (Hutchinson, 2001;Richter and Schmidt, 2005;and Pun, 2005). Particular facets of the internal strategy context elements are determined as the management team characteristics, administration framework and power distribution (Richter and Schmidt, 2005). The external environmental strategy context elements plays a significant function as essential informative variable inside the confinement of the organizationà ¢Ã¢â€š ¬Ã¢â€ž ¢s external environment, whereby strategy content is described as function of external factors, that happen to be taken into account in structuring of the entire strategy content of the organization (Hutchinson, 2001 and Muralidharan, 2004). In the external structure, co mponents determined with the strategy context include munificence, intricacy and uncertainty (Richter and Schmidt, 2005). The comparative significance of decision-specific vis-ÃÆ'  -vis associated organizational variables, which in turn shape the decision-making process of a business pertaining to antecedents of consistency between individual decisions upon resource allocations, and also the idea of corporate strategy have been researched by Richter and Schmidt (2005). A model was used to obtain ideas on the affect regarding organizational and decision specific components about reliability. Statistical assessments were then executed on the hypotheses using data from 493 resource allocation decision sources. As a result of analysis conducted, it was discovered that the decision specific individual resource allocation factors are much more significant due to their reliability with the relevant corporate strategy concept as compared to organizational factors. It is therefore, in the guise, imperative to hypothesize the ways in which an individual organization builds its very own business strategies as well as the strategies of regions in which it functions, can potentially be molded by the drive to be more business-oriented in addition to strengthen business economic variables: economy, efficiency and effectiveness. The eminent result in this respect is apparent in the imperative part strategy context plays from an internal purvey. CONCLUSION Within the foregoing, the problem strategy process and strategy context depending on critical roles they play in the identifying strategy content within the entirety has been the centre of debate in this report. Specifically, a crucial review of the various roles the strategy process and the context factors play in determining the strategy content of an organization has been produced. To begin with, a background overview of organizational strategy within the entirety was considered. This specific presented increase into a cognizant consideration in the roles strategy content and strategy context will play to define the various components of strategy content in addition to the eventual growth into proper organizational structure. Thus the conclusion being that the strategy process contributes profoundly to strategy content by drawing about the major component aspects, which include models of change, pattern through time, change managers and strategy formulation and/or implementation. However, it was furthermore concluded that an organization aiming to be additional business-oriented though enhancing the enterprise financial parameters including economy, efficiency and effectiveness would certainly always function frantically to be able to shape up those strategies within its immediate operations; and this can certainly finest be performed by concentrating on the problems underlining strategy context. References: Hickson, David J., Richard J. Butler, David Cray, Geoffrey R. Mallory, and Da vid C. Wilson (1986), Top decisions: Strategic decision-making in organizations, Basil Blackwell: Oxford. Fredrickson, James W. (1986), The strategic decision process and organizational structure, Academy of Management Review 11 (2), 280-297. Pfeffer, Jeffrey (1992), Managing with power: Politics and influence in organizations, Harvard Business School Press: Boston. Hitt, Michael and Beverly B. Tyler (1991), Strategic decision models: Integrating different perspectives, Strategic Management Journal 12, 327-352. Mintzberg, Henry and Frances Westley (1992), Cycles of organizational change, Strategic Management Journal 13, 39-59

Thomas Alva Edison - a Man of Practical Genius - Free Essay Example

Sample details Pages: 1 Words: 424 Downloads: 4 Date added: 2017/09/12 Category Advertising Essay Did you like this example? Thomas Edison came from humble beginnings. As he stepped off the boat that brought him from Boston and took his first step in New York, he had only one small bag and a single dollar in his possession. The only shelter that he could find was in a battery room of a company on Wall Street and this is where he spent his very first night in New York. Don’t waste time! Our writers will create an original "Thomas Alva Edison a Man of Practical Genius" essay for you Create order It has been said that opinions are not always facts! This is certainly true in the case of Thomas Edison. He was born in 1847 in a little town near to Milan, Ohio on the shore of Lake Erie. Close friends and relatives called him Al. Although Thomas was quite an intelligent young boy, one of his teachers ventured their opinion and suggested to his mother that Al had an addled brain. His furious mother removed him from the school immediately and taught Thomas herself. Thomas Edison would in time prove that opinions are seldom facts! Thomas Edison endured further misfortune in his lifetime. After having overcome a bout of scarlet fever and recurring ear infections in childhood and an apparent blow to the side of his head, he remained hard of hearing for the rest of his life because of a burst eardrum. He realized that time was precious. He wanted to succeed. Thomas Edison is quoted as saying: I am not discouraged, because every wrong attempt discarded is another step forward. And forward is the direction that Thomas also strove towards. Thomas Edison is generally well know for inventing the practical light bulb. His practical genius extended however to include many other inventions, perhaps less well known, but still significant. One day in 1877 Edison was working on a machine designed to record telegraphic signals on a wax cylinder. While making minor adjustments to the machine and talking to the mechanic, a needle on the machine pricked Edisons finger when he made a specific sound. Edison immediately made a rough sketch of a design that he wanted his mechanics to begin constructing. It was a machine designed to record and reproduce sounds. Upon completion, Edison picked up the ear-trumpet and spoke the first ever recorded words: Mary had a little lamb; its fleece was white as snow the phonograph was born. Thomas Edison is quoted as saying, I have not failed. Ive just found 10,000 ways that wont work. So every time we turn on a light bulb and every time we listen to music, Thomas Edisons personal successes ensure that his legacy lives on.

The Continuing Threat of the Human Immunodeficiency Virus

The Human Immunodeficiency Virus, or HIV, is the virus that causes AIDS, the Acquired Immune Deficiency Syndrome. Over 1.1 million people in the United States are living with HIV, and almost a fifth of HIV infected Americans are unaware of their status. Even though there have been key enhancements in the prevention and treatment of HIV, we continue to see too many new HIV infections accompanied by many AIDS deaths. Nearly every HIV infected person will ultimately develop and die from AIDS, if the virus is untreated. The World Health Organization (WHO) estimates that 70 million people have been infected with HIV and 35 million people have died of AIDS since the beginning of the pandemic. Sub-Saharan Africa resumes being the most affected region, given an account of an average of 1 in 20 adults living with HIV. In the United States, fortunately the widespread availability of medications that treat HIV has meant that fewer people with HIV progress to AIDS, but in less economically devel oped parts of the world many people still die of the disease. Sub-Saharan Africa is home to 71% of people living with HIV. Almost all of the region’s nations have generalized HIV epidemics, meaning their national HIV prevalence rate is greater than 1% (Kaiser Family Foundation, 2014). South Africa has the highest number of people living with HIV in the world, 4.3 million. The spread of HIV in Africa can easily be stopped by means of education; furthermore HIV can be treated with modernShow MoreRelatedA Cross Spice Viral Transmission Of Simian Immunodeficiency Viruses922 Words   |  4 PagesAs early as 1930, a cross-spices viral transmission of simian immunodeficiency viruses took hold between African primates and the native people. 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When AIDS made its debut in the early 80s, societies branded it as a disease that infected homosexuals and/or IV drug abusers. People often confused HIV with AIDS. HIV (human immunodeficiency virus) is the virus that infects a person, and if left untreated leads to the fatal disease AIDS (acquired immune deficiency syndrome). However, over the last 35 years, we have learned that, in reality, AIDS does not discriminate against sexual orientation, drug addictionsRead MoreThe Link Between Aids And Poverty2237 Words   |  9 Pagescontributing to making AIDS the number one killer in Sub Saharan Africa. Human immunodeficiency virus (HIV) is believed to have originated in western Africa during the 19th to 20th century. HIV is a virus that gradually attacks the immune system which effects the body s ability to fight off illness and disease. T-helper cells or CD4 cells, a type of white blood cell, are destroyed when infected with this virus and the HIV virus begins to make copies of itself. 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A Short Note On Conventional Trade Treaties And...

With conventional trade treaties, there rests an official communication of intergovernmental cooperation. Governments surrender their sovereign privileges to choose their own trade policies in exchange for similar concessions by others. The policies enforced by any government affect the well-being not only of its own citizens, but also of those in other countries. In present day, the dichotomy concerning domestic and international politics is shifting and challenging both foreign relations and democratically legitimate government. International events within the EU and United States, such as Brexit and Trump’s attempt at withdrawing from NAFTA, are intermixed with national politics, which in turn impacts policy responses. Due to this, populist parties and movements are thriving, challenging the status quo and the governing elite, becoming the new instigators for the global economy. On June 24th 2016, British residents made the collective decision to branch away from the European Union. (The Washington Post) This exit is also to be referenced as â€Å"Brexit†. This came as a shock that resonated across the economic markets. This decision trails along greater economic repercussions that will negatively affect the U.K. and global financial markets. The growth in vagueness concerning economic growth in the United Kingdom is the motive for the instantaneous reaction that occurred in the economic markets. Brexit will unavoidably amplify the discrepancy between the UK and theirShow MoreRelatedThe Problem Of Rational Deterrence Theory2503 Words   |  11 Pagesand failure to arrive at a resolution, the two parties were able to arrive at a resolution. Theorists have differed on their application of theory to interpret the conflict and its resolution, framing the issue from all levels of analysis from international to domestic. 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Personal Statement On Values And Principles - 1499 Words

INTRODUCTION Values represent our guiding principles: our broadest motivations, influencing the attitudes we hold and how we act. It is important to know your values and principle to guide your actions and all aspects of your life. In this paper, I wrote down my values, my aspirations, my life purpose and how it all is connected, integrated. 1. Values: Reliable One of my core value is to be reliable. To do my best to be honest and trustful so people know they can trust me. Open-minded I always try to keep my mind open to all sort of things. I don’t judge you by your culture or by your background. I believe there is no right or wrong, but the different. Motivated I need to always be motivated in order to do something, without the motivation, I don’t accomplish anything. I need to feel the purpose on everything I do, I need a reason. Respectful I really believe that respect comes first in any situation. If you respect me, then you can have a relationship with me. 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DEFINITION OF ETHICS: ETHICS – is a set of beliefs about right andRead MoreMy Code Of Ethics The Primary Principles Are Integrity, Respect, And Empathy1500 Words   |  6 PagesIn my code of ethics the primary principles are integrity, respect, and empathy. I have always lived my life based off of theses three principles. Sometimes it feels challenging to live by these principles, but I always remember what my parents have taught me and I get motivated to keep living off these principles. My parent’s happiness matters a lot to me and that helps me stay motivated. I would never do something that would upset my parents or make them ashamed of me. They have given me everything

The Existentialist Philosophy Of Kafka s The Metamorphosis

Thesis Assignment The existentialist philosophy of Kafka is presented in the metamorphosis is a picture of isolation and despair, something which prevailed in Kafka’s life. The diary of Kafka which was later found also showed Kafka’s intense imagination about his existence and extinction. It became apparent that at the heart of metamorphosis lies deep rooted feelings of Kafka himself. (Kafka.org ). The Metamorphosis a novel written by Franz Kafka is about a man, Gregor Samsa, who wakes up to find himself turned into a giant insect. The story progresses from there and takes many turns to show the various aspects of life. It shows us of the problems of existence and how something as meager as an insect can change the entire outlook of human†¦show more content†¦All of them are linked to the philosophy of life through various parameters such as opportunity, identity, isolation, relationships and despair. The impact of economic depravity on human relationships is shown, by how Gregor feels guilty and enslaved to his family because he is the bread earner making his family view him not as a member but source of income. Thus, when after the metamorphosis, he is unable to earn he is treated with neglect and disgust. Furthermore once the family takes the responsibility of earning they find it harder to socialize and communication become brief. To sum up, this shows Kafkaâ€℠¢s personal depiction of human relationships in light of economic affairs where value of a human being is correlated to his economic contribution even though it serves to primarily isolate him and deters in forming a healthy relation. The duties of the family members tied with the theme of family keeps the interactions going between Gregor and the rest of the members. Gregor thinking revolves around the idea of supporting his parents and the need to send his sister to the Conservatory. He wants to be engaged beyond the simple matters of the family and play a bigger part by following the call of duty of the family. Furthermore, he does not like his job but he takes no excuse in his duties towards his family. On the other hand, his family only performs the necessary

Strategic Management Exam Notes free essay sample

Means several things to several people at different points of time. (‘Strategy is a series of goals and objectives that is used to run business’ (Strategy is an attempt to combine organizations activity and available resources to achieve stated objectives. (Strategy is the roadmap we use to get to where we want to go’ (Strategy is the framework that helps us achieve our Vision and Mission. The policy will emphasize core strategies of Unity, Poverty eradication and restructuring society. (Outline Perspective Plan 3 (2001 –2010) : Though it has similar objectives as the NVP, the OPP 3 focuses on the development of an knowledge society and an environmentally sustainable development initiative. VIEWS OF LEADING THINKERS Strategy ? ‘The art of the employment of battles as a means to gain the object of war’ B. H. Liddell Hart, Strategy (1967) ‘†¦the employment of battles to gain the end of war. Carl von Clausewitz ‘What one does to counter a competitor’s actual and predicted moves’ George Steiner, Strategic Planning (1979) o‘Strategy is a plan, a how, a means of getting from here to there’ Rise and Fall of ing(1 (Competitive strategy is ‘about being different’. We will write a custom essay sample on Strategic Management Exam Notes or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It means deliberately choosing a different set of activities to deliver a unique mix of value. ’ Michael Porter, ‘What is Strategy? ’ Harvard Business Review (Jan/Feb 1993) Emergence of Strategy Where did it come from: (A military concept and discipline. Reflects the organizations response to environmental pressures. oStrategic management integrates management, marketing, finance, production and information systems to achieve organizational success. STRATEGIC MANAGEMENT defined ‘Strategic management is a set of decisions and actions that result in the formulation and implementation of plans designed to achieve an organizations objectives. ’ John A Pearce II Richard Robinson Strategic Management, McGraw Hill, 2007 Formulation will involve defining vision mission, doing a situational analysis, determining objectives and formulating strategies. Strategy implementation will involve marshaling the required resources, establishing policy and allocating resources. †¢Strategy evaluation involves appraising how well the organization has performed Strategic Planning (Strategic planning is a process to determine the organizations game plan (direction and path) including establishing long range objectives the abilities and opportunities. (Strategic planning may involve personnel at three tiers: a. Corporate level. –involves whole enterprise b. Business Unit or Department level –product or service based c. Functional level (Strategic management processes: Strategy formulation -Strategy implementation -Strategy evaluation †¢Benefits of Strategic Management Financial Benefit: -Improvement in sales -Improvement in profitability -Productivity improvement Benefits of Strategic Management Non-Financial Benefits: †¢Improved understanding of competitors strategies †¢Mission congruence †¢Enhanced awareness of threats †¢Reduced resistance to change †¢Enhanced problem-prevention capabilities Key Strategic Management Questions What kind of business should we become? †¢Are we in the right field? †¢Are there new competitors? †¢What strategies should we pursue? How are our customers changing? The Fundamentals Key Question in Strategic Management Peter Drucker: Think through the overall mission of a business. Ask the key question: â€Å"What is our Business? † Vision, Mission, Values –link to Strategy Defining vision, mission values-foundation for the Strategy Comprehensive Strategic Management Model Fred David  © Formulation Implementation Evaluation STRATEGIC MANAGEMENT PROCESS †¢Strategic Management is an analytical, dynamic and creative process. The Eight Step Strategic Management Process: Stage 1 Modality Stage 2 Modality Stage 3 Modality Experiential Learning Exercise Experiential Exercise 1E –Strategic Planning at a Local Company. Fred David Pg. 78 (12 th . ed) Surf the Internet and find an organization that does strategic planning. Examine the written mission statement and do a critique that answers the question if the mission statement adequately reflects the business activities. To answer this question students are encouraged to read further on the characteristics of a good mission statement. Answers to typed out and presented at the next class. Key Terms Vision Statement – What do we want to become? Mission Statement – What is our business? Values -Our Ethos? Vision, Mission, Values –Link to Strategy By defining our Vision, identifying the Mission and establishing the Values of the organization, we are consciously placing our planning initiatives on a firm footing and linking it to the Strategic direction. Vision –what we want to be Mission – why we exist (business) Values – what we believe in Strategy- How are we going to get there The Mission Statement †¢Mission Statements usually contain four different parts: †¢Who You Are †¢What You Offer †¢Who You Serve †¢How You Serve 3 Key Conditions for Success: Organization to develop capable planners through training and rotation of personnel including line managers and division heads. (Reinforced Management Process: Long Range Planning and strategy formulation processes, budgets, market goals, appraisals and management incentives to ensure goal congruence. (Supportive Value Systems: The organizations value system and quality of work should be part of the management process. But flexible enough to cope with changes in the environment Mission Statement Benefits of a strong mission statement MAF DIRECTION STATEMENT Vision: The Malaysian Armed Forces to be a Credible Armed Force. Mission: To realize and deliver Combat ready Forces in order to protect national sovereignty and integrity VISION MISSION (LECTURE 2) STRATEGIC MANAGEMENT -define Strategic management is a set of decisions and actionsthat result in the formulation and implementation of plans designed to achieve an organizations objectives. ’ John A Pearce II Richard Robinson Strategic Management, McGraw Hill, 2007 DEFINING A PLAN -A Plan is a deliberate, conscious, organized attempt to change the future by taking action in the present. It involves ends, or objectives, actions to reach those objectives, resources to make actions possible, and a strategy or approach for doing this in the most effective way. Graduate School of Public and International Affairs University of Pittsburg. WHY PLAN? -desire to change the status quo and refocus our objectives. -control uncertainty and turbulence in the environment -to control the future through action of the -achieve consensus on goals and strategies. -to meet challenges posed by competitors. THE VISION STATEMENT (What is a Vision Statement’? As part of the exercise, write a vision and mission -statement for your university. -Your mission statement should follow the characteristics you have been taught and present your justification. -To answer this question students are encouraged to read further on the characteristics of a good mission statement. -Answers are to be typed out and presented at the next class. EXTERNAL AUDIT (LECTURE 3) oThe external environment represents factors which are beyond the control of an organization. oThis analysis provides information on key environmental trends: (Demographic movements changes(e. g. aging population) (Information technology usage Key External Forces PESTE -Political, governmental legal forces -Economic and competitive forces -Social, cultural demographic forces -Technological forces -Ecological forces MACRO ENVIRONMENTAL SCANNING Macro Environmental Factors (PESTE ) affects productivity and performance. MACRO ENVIRONMENTAL SCANNING (Social Factors Beliefs, values, attitudes, opinions and lifestyles, is often the result of cultural, ecological, demographic, religious, educational and ethnic conditioning. Technological Factors Concerns technological change -should avoid obsolescence and promote innovation. Adopting new technologies help improve productivity. (Ecological Factors Ecology is the relationship between man, other living things and the natural environment involving the soil, water and air. Issues like pollution (oil spills), impact air pollution, environmental impact (open burning) and soil stability can affect productivity, general health and project completion. ‘It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change. ’ –Charles Darwin Key External Forces the Organization ORGANIZATION’S EXTERNAL ENVIRONMENT Macro Environment Political, Economic, Social, Technological, Ecological MICRO / INDUSTRY ANALYSIS oFactors that directly affect the organization ( micro environment) oAnalysis determines how the immediate environmental forces affect the success, profitability or growth potential of the firm. oMichael Porter’s Five Forces Model is the best known conceptual framework in use for this analysis. The Five-Forces Model of Competition -Porters Five Forces Model of competitive analysis is used to develop strategies in many industries. -The intensity of competition among industries varies depending on the industry. Internal Audit Performing an internal strategic-management audit provides a good opportunity for understanding the nature and effect of decisions on other functional areas of the organization. Internal Audit Internal Audit ‘†¦ focuses on the identifying and evaluating the functional areas of any organization for it’s internal strengths and weaknesses †¦including the process activities and the support activities. ’ PUBLIC SECTOR SYSTEMS FRAMEWORK UPNM ORGANIZATIONAL FRAMEWORK Training, Consultation, Research, Publication. PROCESS ACTIVITIES (PUBLIC SECTOR) Process Activities †¦relates to core business functions that have an external client. In a training organization like UPNM they are: (Training (Consulting (Research (Publications When evaluating the strengths and weakness of the processes it is important to pay attention to individual and group skills, its functioning and the use of technology. SUPPORT ACTIVITIES (PUBLIC SECTOR) Support Activities †¦Ã¢â‚¬ ¦. relate to activities that do not have an external client but are important for the efficient functioning of the core business. for UPNM it would be the support activities or staff functions like administration, finance and technical matters (IT networks) eg. Library, scientific and engineering labs. Management Functions of Management †¢Planning †¢Organizing †¢Motivating †¢Staffing †¢Controlling MANAGEMENT FUNCTIONS †¢Five basic functions: i. Planning Involves setting vision, mission and goals, strategic plan, action plans and policies including doing risk analysis. ii. Organizing iii. Identify job scope, role and tasks, delegation of powers, establishing a chain of command and coordinating training requirements. iii. Motivating –Effective Leadership by motivating staff to get the jobs done under minimal supervision. Also establishing effective communication and conflict management. iv. Staffing –Human Resource management -recruiting, selecting, training, career development and compensation. . v. Controlling –Setting performance standards, measuring actual performance, standard deviation and taking remedial action. Management Marketing †¢Marketing –Is transferring of products or services from the producer to the user at a pre-determined price, quantity and quality. †¢Marketing Mix –The Marketing mix is a blend of product, distribution, promotion and pricing strategies (based on 4Ps -product, price, place and promotion) that can give the organization the competitive edge. Marketing (Product ( –The marketing mix is essentially geared towards marketing the product or output of the organization. –Products will undergo four life cycle phases: introductory stage, growth stage, maturity stage, and decline stage. Product Life Cycle Phase 1. -Introductory stage:a new product could face high-failure rate, little competition, frequent product modification and limited distribution Phase 2 -Growth stage:. In this stage, sales typically grow at an increasing rate and competitors may enter the market but existing competitive edge will see profits rise rapidly in this stage. Phase 3 -Maturity stage: the longest stage of the product life cycle when sales rate decreases due to the emergence of niches marketers who concentrate on specific segments of a market. Phase 4 –Declining stage: features a long-run drop in sales due to changing consumer tastes and the emergence of substitutes. PRODUCT LIFE CYCLE Marketing Opportunity Analysis Finance/Accounting Determining financial strengths weaknesses key to strategy formation Finance/Accounting Audit Financial Ratios Financial Ratios ii. Leverage ratio measures the extent to which the firm has been financed by debt. Forward Integration Strategies Gain Control Over If: Current distributors – expensive or unreliable Availability of quality distributors – limited Firm competing in industry expected to grow markedly Firm has both capital HR to manage new business of distribution Current distributors have high profit margins (c) Horizontal integration strategy : This strategy aims to reduce the number of competitors as the company would choose an acquisition, joint venture or strategic alliance to reduce competition. Malaysian Plantation and Banking sectors have adopted this strategy to reduce competition and achieve competitive strength in overseas markets. Horizontal Integration Strategies Ownership or Control of – Firm’s competitors Backward Integration Strategies Producer controls the availability of raw material supplies in terms of pricing, quality, supply and choice. Guidelines – 3. The Diversification Strategy Diversification is basically increasing the number of outputs produced or services rendered. Key question is how to increase the variety of activities in its present operations. There are four decisions that come under this category: a. Concentric diversification strategy -increase the variety of its manufactured products, related to its present operations. E. g. Bata shoes produces shoe polish b. Conglomerate diversification strategy is adding variety in a different or unrelated sector. Penang Port Corp also operates NDSB, Ferry Co a small Nigerian shipyard. a. c. Horizontal diversification strategy–often having to diversify due to requests by regular clients to provide additional service. Eg. Air Asia has Tune hotels and tour facilities. Goodyear ServitcarTyreShop also provides one stop automobile repair services. 4. Turnaround Strategies These strategies are actions commonly used by corporations facing negative growth. -negative growth rate, rate of return, making loss with no dividend payout. Retrenchment Strategy Option to cut overhead costs without forsaking increase in productivity and efficiency.