Essay title: Strategic Capability
вЂњAn internal capacity for leveraging resources and competences is a prerequisite for creating competitive advantage. Discuss, with references to theory and real world organization of your choiceвЂќ.
Strategic management is a multi faced and vast area of study with many theorists presenting differing views as to what is crucial to the successful formulation of strategy. This essay will present an explanation of the internal capacity of leveraging resources and competences and show how they are creating competitive advantage. This will be illustrated through the identification of the key drivers of competitive advantage. A strategic capability analysis of an organisation, namely Marks and Spencer. will be undertaken in order to identify which capabilities meet the criteria of value, rarity, robustness and non-substitutability. This study will be used to emphasise the impact of these key drivers which are likely to have an impact on the competitive advantage and on the organisation structure. This framework will be applied to the Marks&Spencers example. The way in which Marks&Spencers gain its competitive advantage will be identified by the key drivers of strategic capability and the impact they have on the industry will be than discussed further, highlighting the internal capacity for leveraging resources and competences. In conjunction with the capability analysis, SWOT analysis will help to identify the main strengths, weaknesses, opportunities and threats in example of M&S.
Before attempting to explain the internal capacity for leveraging resources and competences it is necessary to define the purpose of strategy in order to understand how strategic capability could contributes towards it. Johnson et al suggest that:
вЂ?Strategic capability can be defined as the adequacy and suitability of the resources and competences of an organisation for it to survive and prosper.вЂ™
(Johnson et al, 2005:117)
Johnson et al considers that the strategic capability can be distinct as the sufficiency and appropriateness of the resources and competences of an organisation for it to live and flourish through activities are different from others.
To understand what the capabilities of the organisation are, the structure of resources and competences will be examined. A company capability could be divided into internal and external factors. Internal factors which are strengths and weaknesses, resources and competences. Furthermore, external factors include environmental scanning PESTEL analysis, Porters Five Forces Framework (Porter, 1998:22), opportunities and threats. This essay will underline the internal factors for capacity of leveraging resources and competences as a prerequisite for creating competitive advantage. The fundamental notion of strategic capabilities is resources. Resources could be divided in tangible and intangible. Tangible are those resources that are physical assets of the organisation and intangible are the non-physical assets of the organisation. According to Johnson et al (2005:118), it is suggested that physical, financial, human and intellectual capital resources could be considered as organisation resources. These resources are important for the organisation. It depends on each organisation how they are going to mange them. Furthermore, competencies are shown in the performances and procedures that are used. Competencies are the ability to do the activities and how the resourses are arranged. Johnson et al suggest using the uniqueness of the resourses:
вЂ?Clearly, competitive advantage cannot be achieved if the strategic capability of an organisation is the same as other organisations. It could, however, be that a competitor possesses some unique or rare capability providing competitive advantage. This could take the form of unique resources.вЂ™
(Johnson et al, 2005:125)
This suggests that the strategy should be unique, different from its competitors. To be hard to be imitated is creating a sustainable competitive advantage. If there were only one perfect position, there would be no necessitating for strategy. Furthermore, according to Michael E. Porter:
вЂ?Strategy is the creation of a unique and valuable position, involving a different set of activities. The essence of strategic positioning is to choose activities that are different from rivalsвЂ™.
(M. E. Porter, Harvard Review)
However, creating sustaining competitive advantage in business is not just uniqueness or being different. While well-built core competencies and competitive capabilities are key support in performing strategy, they are just as significant for securing a competitive edge over competitors in position where it is
Strategic Change And Environmental Changes college essay help near me
There is indications that in the coming years the business environment will change more frequently, with higher speed and with greater intensity than before. To remain competitive in the long run the enterprises needs to meet these environmental changes. However, the changes in the environment will become increasingly difficult to foresee. A multitude of management concepts has been developed to provide managers with better receipts to meet this changing business environment and the problems that arise (Pfeifer, Schmitt, & Voigt, 2005). This challenges the enterprises to meet and conquer upcoming situations with the, for their explicit situation, suitable strategy. What goals an enterprise striving after might will with no doubt matter when forming strategy. A common goal for most, if not all, of today’s organisations is to create sustainable competitive advantages. However, because of the fierce competitive environment and the risk of imitation, it is crucial to seek for continuous innovation if the organisation is to succeed on the market. To avoid getting in a situation doing just what the competitors do, a way is to break the rules of the market by strategic innovation (Jacobs & Heracleous, 2005), thus a change of the organizations’ strategy.
Strategic change as a subject has for long become a question of importance, within the strategic management field. The reason to why strategic change is important is “because it represents the means through which an organization maintains co alignment with shifting competitive, technological and social environments” (Kraatz & Zajac, 2001). Strategic change can though damage existing resources and performance especially among organizations highly dependent on human resources, these organizational resources decrease the propensity to adapt strategic change, because of new roles, tasks and circumstances (Kraatz & Zajac, 2001). Strategic change is nothing that will be carried out without affecting the company as a whole. It is argued that the organisational approach can be an integral and vital part of the strategy. This means that when a strategic change occurs, the organisational structure may also have to change, if it is to support the strategy (Englehardt & Simmon, 2002). Almost every organization goes through some change, small or big, at some time in their existence. Not only are these ongoing processes hard to cope with for the organization itself, but also for the individuals who work within it. The changes affect the ways things are usually done within the organization, and thus create uncertainties and fears among the employees about what will happen in the future and whether or not they will be able to cope with the new situation (Vakola & Nikolaou, 2005).
Pfeifer et al. (2005) argue that most of change processes within a company fail at operational level. Thus they mean that it is not as much the right strategy, but the effective implementation of the right strategy, which decide business success. Further they discuss how the different units in the company should be organized in the change process in order to deliver the best possible quality. To ensure that these quality criteria are taken into consideration they suggest a procedural model as guideline. No strategy will remain eternally valid, and therefore the change process is by no means finished after the completion of the implementation. This understanding got Pfeifer et al. (2005) to develop a control loop system. This model is not sequential, because after implementation of the new strategy the loop will be completed and the process will have to be repeated. This characteristic enables the procedural model to be applied in an environment of continuous and rapid change. This procedural model is the first on to meet the requirements to deal with continuous change (Pfeifer, Schmitt, & Voigt, 2005).
Their loop model or procedural model for implementing a new strategy consists of five basic steps, which are; decision, preparation, design, implementation and reinforcement. As earlier mention, the operational level is the one on which most change process fail. Therefore, the authors consider the design step as the most important. Design is the third step in the model called, and here you should motivate, enable, brief and authorise people to pursue the change and you should identify constraints for implementation. The fifth, and last, step will take you back to the beginning of the process to complete the loop, this is the reinforcement step. Here it is important to understand that this can continue several years after implementation of the strategy. Environmental factors will decide if further strategy development is needed. The control loop will hereby be closed and the process would have to be repeated, starting with the further development of the vision (Pfeifer,
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Strategic Decision Making – Essay – Gack Sarayu
Strategic Decision Making
Managerial Economics Written AssignmentName: Sarayu SampeenongUniversity Number: 3035507356Part I: ReflectionThe most interesting topic for me about this course is the game theory in strategic decision making. The concept of prisoner’s dilemma, Nash equilibrium, and sequencing can be really useful for real-life decision making. However, we cannot rely only on the concept in making decision because in real-life many unexpected things can happen, but those concepts can help us form the base of our rational thinking to make a rational decision.In my opinion, the most difficult concept to understand is the concept of marginal cost. This is because when I worked on the pricing for the products and/or services in the past. I will use the figure of the average total cost as the cost to decide on pricing. When I learned about the concept that in a competitive market, the optimal supplies quantity is when marginal cost of the last unit equal to product price. I was a little bit confused. However, when I reviewed the concept again, the concept became convincing to me.To be honest, it was difficult for me to understand the logic behind Nash equilibrium too, but it became clearer when we went through all the real-life observations.Learning pointsThe first surprising but convincing conclusion is the diamond paradox. It was an eye-opener observation for me and lead me to have a better understanding about the how supply and demand determine the value and price of things.The second conclusion I really appreciate is the overall conclusion of game theory about knowing the other player’s information and rationality to determine the other player’s choices and responses. It is a straightforward and useful conclusion that applicable in many real-life situations.
Part II: Discussion questionsMy first question is about the concept of Nash equilibrium – how possible is it in reality for competing players to stop at the stable outcome? In real-life competition, are they going to be satisfied with the result that nobody wins or lose? My second question is about the phenomenon of sharing economy. How will the sharing economy shape our economy in the future? If people rely more on the services like Airbnb and Uber will it make the demand and supply of the real-estate industry and automobile industry change dramatically? And How?My last question is how we can crack the emotional value people give to the products or services with the economic concept. For example, how the middle luxury products like Coach bags or Longchamp bags that don’t have exceptional quality or artisanship when compare to the non-luxury brands can cost so much higher with the “brand” element alone.Part III: Supplementary materialsThe diminishing marginal valueI have my personal observation about the concept of diminishing marginal value. In my observation, I found that the concept can be used to explain how much people will value somethings that happen in life but only to some degree. Below are some examples from my personal life.
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By: Gack Sarayu
Submitted: November 21, 2018
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Absence Of A Disaster Recovery Plan And Loki Consulting gp essay help
Essay Preview: Disaster Recovery
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Disaster Recovery Plan Overview
Loki Consulting, Inc.
Loki Consulting, Inc. was established in 1997 as a result of Hurricane Fran. Many businesses were devastated by the storm due to the absence of a disaster recovery plan. Realizing the need for disaster recovery consultation, Loki Consulting, Inc. was created to provide businesses with expert knowledge on implementing a critical component of any organization large or small. Loki Consulting, Inc. has more than 20 years of experience in implementing effective and successful disaster recovery plans.
Media Madness was established in the early 90s as an on-line media store supplying learning materials to private schools. Due to the No Child Left Behind Act, initiated by the Bush Administration, the NC Public School systems were faced with the challenge of providing quality learning resources for children while operating on a fixed budget. Media Madness secured the bid to provide materials to all public school systems within North Carolina, provided that the company incorporates a disaster recovery plan into its business procedures, specifically designed for their data center.
Loki Consulting, Inc. was hired by Media Madness to make recommendations for implementing a disaster recovery plan for their data center. Loki Consulting has scheduled a meeting with Media Madnesss Executive Board to present their proposal for a contingency plan. Currently Media Madness does not have a disaster recovery plan in place and recent expansion deemed it necessary to undertake this comprehensive project.
More and more businesses recognize the importance of having a Disaster Recovery Solution to react to a disaster or other serious events. Creation of a solid disaster recovery plan is the first critical step to ensuring that your business information will survive a disaster. If your business normal operation depends on your IT e-resources (e-mail, web, database), then you need a Disaster Recovery plan. Now is the best time to get started with the help of Loki Consulting, Inc.
Currently, Media Madness does not have a contingency plan for its data center in the event of a natural or intentional disaster such as a tornado, flood, fire, system failure, etc. If a disaster should occur the company would be incapable of recovering any data stored in their data center. All company and customer information would be permanently lost including customer profiles, payment information, customer orders, company hardware and software, vendor profiles, company information, sales, marketing, revenue loss, job loss etc. The companys day-to-day business operations would come to a standstill and ultimately shut down.
Additionally, it would take Media Madness months to recover and resume normal business operations and without a disaster recovery plan the data may never be restored. The worse case scenario would be that the organization never recovers and files bankruptcy leaving all customers, vendors, employees, creditors investors in the dark.
Loki Consulting, Inc. offers selectable methodologies that may be combined for accomplishing a business continuity project. These methods incorporate traditional planning approaches and alternatives. Based on an organizations recovery strategies, wants or needs many combinations of methodologies may be used.
Loki Consulting, Inc. offers a 9-Step Program incorporating organizations wants and needs into an effective and efficient Disaster Recovery Plan (DR Plan). Simply stated, it is identifying business requirements, risks, critical business systems, key personnel, and single points of failure.
The initial start-up phase of the project is the formulation the Project Team. This includes an Executive Sponsor, Project Manager, and additional key personnel. Once identified, the project team should begin the business impact project analysis. Key components of the analysis phase include identifying critical systems and functions and the risks associated with the loss business operations. In addition to the project analysis, a secondary deliverable is developing the recovery strategy. This entails minimizing interruptions to normal operations and prioritizing system restoration. Implementing standard back-up procedures are recommended up to and including alternate storage facilities. (German).
Once all pertinent information is gathered the project team should then begin documenting planned steps and developing their testing strategy. All Disaster Recovery Plans should be documented, printed and bound in hard copies. These copies should be stored in multiple locations and in the possession of key personnel (i.e. homes and secured offices). (German).
The next phase would be developing the testing scenarios and implementing mock drills. A DR Plan that is not continuously refined and validated is almost worthless. In order to maximize the chance for success in the event of a real disaster it is essential that the DR Plan be executed on a regular basis. Specific recovery procedures should generally be tested in-house on a more frequent basis. In addition, staff should be rotated as much as possible, thus providing a more comprehensive test of the process and the plan, and providing trained resources in the event they are ever needed. In order to adequately prepare for the mock drills, Media Madness should practice several disaster recovery scenarios, including power outages, network outages, server outages, etc. Maintaining the DR Plan entails updating changes in the workforce, systems, equipment, or process. Media Madness should conduct periodic audits to identify strengths and weaknesses. Partnering with an external auditing firm will be useful in identifying deficiencies in the DR
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Essay Preview: Disappear
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I stood outside the apartment I came to look at, and my first impression was that the building was beautiful. That is, until I walked inside and saw that stairwell. Talk about old. The railing looked as rickety as the ones you see in horror movies, and the stairs were so dusty that when I put my foot on the first step, a claylike powder puffed up like a cloud under my dress, and I couldve sworn they were going to collapse. I was making a mistake Ð– I knew that already. Something had told me the ad sounded too good to be true: Large one-bedroom, fully renovated brownstone, 10-foot ceilings, all new appliances, exposed brick, southern exposure, 10 minutes to Wall Street, close to shops, subway: $500.
I heard the sound of hammering from the top of the stairs, so I took my chances and ran up. Sawdust was flying around the white room like gold snow. I looked down, saw a curved red back, then a long arm flying up, thick black fingers grasping a hammer, and when it swung back down, the sound of the impact scared me. I jumped.
He looked up, then stood. What can I do for you? he asked.
Lord have mercy, was all I heard inside my head. I couldnt move, let alone speak. I really couldnt believe what I was seeing. This man had to be six foot something, because he was towering over me. His eyes looked like black marbles set in almonds. He wore a Yankees baseball cap, backward, and when he lifted it from his head to shake off the dust, his hair was jet black and wavy. That nose was strong and regal, and beneath it was a thick mustache. His cheeks looked chiseled; his lips succulent. And those shoulders. They were as wide as any linebackers. His thighs were tight, and his legs went on forever. He was covered with dust, but when he pushed the sleeves of his red sweatshirt up to his elbows, his arms were the color of black grapes.
Did you come to look at the apartment? he asked.
I cleared my throat and heard a word come out of my mouth. Yes.
Then he smiled down at me, as if he was thinking about something that had happened to him earlier. Well, we running behind schedule — as usual — and I dont know when we gon be finished. I been trying to figure out how all these damn mice been getting in here. Aint found it yet. And I dont know how the roaches and water bugs getting in here either. Tribes of em. We gon have to fumigate this place good before anybody even think about moving in here.
Mice? Water bugs and roaches? This place is brand new. Was he joking? Are you the owner?
I wish I was. Hes back there, he said, pointing down a long hallway. Hey, Vinney he yelled. Somebodys here to see you, man.
Before I started in that direction, I did notice that the living room was big and shaped like an L. Three tall windows extended from the ceiling almost to the floor, which meant sunshine. The kitchen was over in a corner, but I could live with that. Halfway down the hall was the bathroom. I peeked in and turned on the light. I couldnt believe it. A sea-blue bathtub, toilet, and sink And clean white tile on the floor and walls, and one of those orange lamps in the ceiling to help you dry off . So far so good. When I entered the doorway at the end of the hall, I was standing inside a sunny bedroom, with two more windows.
Hello, Miss Banks, the owner said, then reached out to shake my hand. I shook his, even though it was filthy.
Let me say first off that well be finished in a day or so. You like what you see?
The man up front said he didnt know when youd be finished. He also said there were problems with bugs and mice.
Thats bullshit. First of all, like I said, well be finished in a day or two. And we aint seen nothing crawling around in here except men. The place has been completely gutted — everything in here is brand-new. Frankies known for being a jokester, but today hes pushing it.
Frankie? What a stupid name for such a striking man. Whats this little room over here? I asked.
Oh, thats just sort of a extra-large closet. Its too small to call it a bedroom, which is why we didnt put it in the ad. Perfect for a kid, though. But you said you didnt have kids. Use it for storage, whatever.
It was a tiny room, but I guessed I could squeeze my piano in. I walked over to the window. At least there were trees back there, even if they were in other peoples yards. I looked down at the wooden planks under my feet. What are you going to do to the floors?
Were laying the finest carpet available in every room except the kitchen area and bathroom. Sort of a beigy color — neutral, you know. That suit you?
Theres no way you could put in hardwood floors?
You want the apartment? Theres plenty of interest in it already. I coulda rented it this morning, but I knew you were coming, and I wanted to be fair, you know.
If you can put in hardwood floors and guarantee that the stairwell wont look like it does now for too much longer, Ill take it.
First off, when you renovate a whole building, you always save the stairs till last, or theyd be worse off with all the ripping and running the men do up and down em. And hardwood floors? Itll cost you a few dollars extra for the labor, andll add a few more days to the job.
How much extra?
Not much, if you get pine. Dont worry, we can work something out. You positive you want wood? They collect dust like there aint no tomorrow.
Im positive. I didnt care about the dust. When I first walked in here, I had already pictured shiny wood floors, not some drab carpet. And I hate beige. Its so boring.
Frankie, he yelled. Come in here a minute, would you?
He walked back into the bedroom, ducking his head under the arch. I tried not to look directly at him, because I was thinking that I wished he came with the place. I tried, instead, to look indifferent.
Whats up, boss? he asked sarcastically.
Business Plan And Market Research cbest essay help: cbest essay help
Strategic Business Plan
Essay title: Strategic Business Plan
BUSINESS ADMINISTRATION 100
EXAMINATION NUMBER TWO
Lars this is how you create a business plan. First you have to set the vision, goals, and objectives of your business. The most important driver for almost any business plan is return on investment (ROI). Commonly, when someone starts to write a business plan for the first time you need to determine what is your objective?
The essential planning elements are identifying your objectives. What you are going to sell to whom, when and how you are going to sell it, how much contribution the sales will produce, what the marketing and selling cost will be, and what will be the ROI.
Research would be your next step. Your market research should focus on the information you need, to help you to formulate a strategic plan and make business decisions. Market information potentially covers a vast range of data, from global macro-trends and statistics, to very specific and detailed local or technical information, so it’s important to decide what is actually relevant and necessary to know. However there’s no point spending time researching global statistical economic and demographic data if you are developing a strategy for a relatively small or local business. It would be far more useful to carry out your own primary research about the local target market, buying patterns and preferences, local competitors, their prices and service offerings.
First establish or confirm the aims of the business. Then state the objectives of the business unit you are planning to develop. Determine what is the business aiming to do over the next one, three, and five years?
Next define your mission statement. All businesses need a mission statement. It announces clearly to your staff, shareholders and customers what you are in business to do. You can involve staff in defining and refining the business’s mission statement, which helps develop a sense of ownership and responsibility. Producing and announcing the mission statement, is also an excellent process for focusing attention on the business’s priorities, and particularly the emphasis on customer service.
After your mission statement you must understand and define clearly what you are providing to your customers. This description should normally go beyond your products or services, and must include the way you do business, and what business benefits your customers derive from your products and services, and from doing business with you. Develop offerings or propositions for each main area of your business activity. Under normal circumstances competitive advantage is increased the more you can offer things that your competitors cannot. The important process in developing a proposition is translating your view of these services into an offer that means something to your customer. The definition of your service offer must make sense to your customer in terms that are advantageous and beneficial to the customer, not what is technically good, or scientifically sound to you. Think about what your service, and the manner by which you deliver it, means to your customer. The important thing is to understand your services and proposition in terms that your customer will recognize as being relevant and beneficial to them.
Customers value these benefits more than all others by making money, saving money, and saving time. If your propositions cannot be seen as leading to any of these then customers will not be very interested in you.
When you write your business plan ensure that it shows what your business can do. Essentially your plan is a spreadsheet of numbers with supporting narrative, explaining how the numbers are to be achieved. A plan should show all the activities and resources in terms of revenues and costs, which together hopefully produce a profit at the end of the trading year. Your business plan, which deals with all aspects of the resource and management of the business, will include many variables in from the marketing process. The business plan will state sales and profitability targets by activity. Above all a plan needs to be based on actions. These actions need to lead to cost-effective and profitable causes and effects. Inputs required to achieved required outputs, analyzed, identified and quantified separately wherever necessary to be able to manage and measure the relevant activities and resources.
Your marketing plan is actually a statement, supported by relevant financial data, of how you are going to develop your business. Plans should be
Strategic Human Resource Management And Companies Strategy argumentative essay help
Strategic Human Resource Management
Strategic Human Resource Management
“Human Resource Management will be regarded as valuable business partner and important organisational resource when the Business Units are satisfied with the results achieved through Human Performance and Process Improvement.” This is how human resource management has been described by an unknown source and quoted in many books and journals on the same subject.
Human Resource Management, unlike Personnel Management, is linked to and plays a vital role in the organisations strategic planning and execution in order to make a decisive impact on the organisation’s overall performance. Human Resource Management is concerned with philosophies, practices, and policies influencing the management of people in organisation so as to attain competitive advantage. That’s why before moving on to describe the process oriented steps that organisation execute to bring human resource management in alignment with the companies strategy we need to understand a few things like strategy, business policy, strategic human resource assignment etc.
I will begin my discussion by considering a few questions, the answers to whom will also form the outline of the discussion. These questions are:
1. How is strategy defined?
2. How do we define business strategy?
3. What are the business strategies of Tata Steel?
4. What are the approaches of Tata Steel towards its Human Resource assets? What are their Major Human Resource policies?
5. What is strategic human resource management?
6. How are these approaches towards HR linked to their business strategy or how do these approaches help them achieve their strategic goal?
Let us begin our discussion by taking up the first question, i.e. what is strategy or how is strategy defined in a business environment or context.
The American Heritage Dictionary describes strategy as “the science and art of military command as applied to the overall planning and conduct of large-scale combat operations.” This definition reflects the military root of strategy, but what is worth noting here is the planning theme which remains an important component of most management definitions of strategy. Strategy was defined by Alfred Chandler of Harvard Business School as “the determination of the basic long-term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals.” The idea of rational planning quite clearly comes out in Chandler’s definition. What it means is that organisations first decide on their long term objectives or goals. Then they move on to identify the courses of action which will help them to fulfil their goal and allocate their resources more correctly. Strategy has similarly been defined as “the pattern or plan that integrates an organisation’s major goals, policies, and action sequences into a cohesive whole” by James B. Quinn. It has also been described by William F. Glueck as “a unified, comprehensive and integrated plan designed to ensure that the basic objectives of the enterprise are achieved.”
But of all the definitions of strategy the best probably came from Henry Mintzberg. He pointed out in his paper “Patterns in strategy formulation” Management Sciences, 24(1978), pp 934-948, that the planning approach to strategy always
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Discerning Content In Paragraphs
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Bruce CampbellÐ²Ð‚™s signature epic overacting style is perhaps best represented in Sam RaimiÐ²Ð‚™s masterpiece Evil Dead 3: Army of Darkness. In the true spirit of daydreaming fantasy, a lowly department store plebeian is sucked through a temporal rift and hurled into a 13th century wasteland where he transcends his humble nature and becomes a reluctant if not unlikely hero, and savior of the entire world from certain destruction. Apparent therein are particularly romantic notions that whatever doldrums modern day society have swept you to, it bears nothing on what your true potential may be given alternative circumstances. In the end, when transported back, his ridiculous tale of self indulgent fantasy and masculine ego fulfilling venture is in scrutiny and disbelief, yet what he gains internally is the notion that in a sense, he knows his potential and is content with his rather mundane repertoire. His catharsis is best summarized in his closing lines Ð²Ð‚ÑšI guess in my own way, I am king.Ð²Ð‚Ñœ – (Campbell, 1992). To emphasize the scope of his statement he grasps his fellow female employee in cinematic embrace quoting Ð²Ð‚ÑšHail to the king, babyÐ²Ð‚Ñœ – (Campbell, 1992) in perhaps the way only he can pull off.
Scoring in at a 7.5/10, a rather generous rating as far as IMDB goes, critics of the film clearly sought past the comedy layer of the film (which was indeed quite entertaining) down to the meaty essence of the metaphorical implications. The main details, plot summary and movie description are the three main mediums which the site catalogues and compares films. The question at hand for the sense of this exercise is to identify which of them is the one that can be best compared to the main idea of a paragraph.
According to the text, (McWhorter, Kathleen T. College Reading & Study Skills. New York. Pearson Longman, 2007.) the main idea is defined as: Ð²Ð‚Ñšwhat the author wants you to know about the topic. The main idea is usually directly stated by the writer in one or more sentences within the paragraph.Ð²Ð‚Ñœ – (McWhorter,
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Strategic Hrm: Case Study of Luxury Cars
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вЂњStrategic HRM is the process of linking the HR function with the strategic objectives of the organization in order to improve performance.вЂќ(Bratton & Gold 2007)
Strategic Human Resource (SHRM) management is human resource management with a strategic edge, linking both business strategy with human resource (HR) strategy of an organization. Human resource management has become an integral part of almost all the companies all over the world. Human resource management concerns not only how peoples are managed but also how managing people could maximize the competitive advantage in that market sector (Tyson, 1991 p2). Business strategies are defined as a strategy of a particular business unit (Tyson 2000, p66). Human resource(HR) strategy is a series of policies and programs designed to achieve a people management objective (Tyson, 2000 p66) .SHRM on a broader term is a overall sense of mission and direction, an appreciation in general terms of where the company is going and why. This may include articulation of core values, distinctive competencies and corporate vision. SHRM also focuses on translating the complex and dynamic set of internal and external variables, which an organization faces, into a future oriented framework which can then be implemented on a day to day basis (Watson, 1999). In the subsequent paragraphs, This study tries to explain
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Strategic Financial Management
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Terms Of Reference
This report will look into the options for financing an acquisition of a piece of land to be used for storage. Every source of finance has a cost, I have had to take these costs into account. I will first investigate the different funding options then evaluate which I feel would be the best investment decision.
To complete my report I spoke to people within the company I work for, Barclays bank and my Tutor. A lot of the information I have used has come from the internet. I used the internet to research different funding options and their advantages and disadvantages. I found these sources very helpful as I was able to read sections from books and reports.
Importance of making Strategic Decisions
Strategic decisions are important in all business. Companies identify their objectives then look into all the possibilities and evaluate them and make a decision which will help the business achieve the best financial outcome. Strategic decisions can be made many ways depending on the objectives. There is no specific way to make these decisions but if every angle is looked at and the outcomes are compared then most will result in the best financial consequences. The best way for a company to ensure they make the most financially prudent decisions is to have a strategic management system. In our company the managers from each department form the strategic management team. It is an ongoing thing and they meet regularly to review the business. They can then come up with any improvement or investment ideas and analyse the possibilities. To help with this assignment I was able to join them in their meetings. The main tool used in our company for strategic management is SWOT analysis. This help to identify the Strengths, Weaknesses, Opportunities, and Threats, of each possible idea or investment. It is important to use SWOT to look at;
How we can Use each Strength?
Strategic Hr And Strategic Human Resource Management argumentative essay help: argumentative essay help
Strategic Human Resource Management
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In today’s intensely competitive and global marketplace, maintaining a competitive advantage by becoming a low cost leader or a differentiator puts a heavy premium on having a highly committed or competent workforce. Competitive advantage lies not just in differentiating a product or service or in becoming the low cost leader but in also being able to tap the company’s special skills or core competencies and rapidly respond to customer’s needs and competitor’s moves. In other words competitive advantage lies in management’s ability to consolidate corporate-wide technologies and production skills into competencies that empower individual businesses to adapt quickly to changing opportunities.
In a growing number of organizations human resources are now viewed as a source of competitive advantage. There is greater recognition that distinctive competencies are obtained through highly developed employee skills, distinctive organizational cultures, management processes and systems. This is in contrast to the traditional emphasis on transferable resources such as equipment. Increasingly it is being recognized that competitive advantage can be obtained with a high quality workforce that enables organizations to compete on the basis of market responsiveness, product and service quality, differentiated products and technological innovation.
Strategic human resource management has been defined as ‘ the linking of human resources with strategic goals and objectives in order to improve business performance and develop organizational culture that foster innovation and flexibility ‘. Strategic HR means accepting the HR function as a strategic partner in the formulation of the company’s strategies as well as in the implementation of those strategies through HR activities such as recruiting, selecting, training and rewarding personnel. Whereas strategic HR recognizes HR’s partnership role in the strategizing process, the term HR Strategies refers to specific HR courses of action the company plans to pursue to achieve it’s aims.
HR management can play a role in environmental scanning i.e. identifying and analyzing external opportunities and threats that may be crucial to the company’s success. Similarly HR management is in a unique position to supply competitive intelligence that may be useful in the strategic planning process. HR also participates in the strategy formulation process by supplying information regarding the company’s internal strengths and weaknesses. The strengths and weaknesses of a company’s human resources can have a determining effect on the viability of the firm’s strategic options.
By design the perspective demands that HR managers become strategic partners in business operations playing prospective roles rather than being passive administrators reacting to the requirements of other business functions. Strategic HR managers need a change in their mindset from seeing themselves as relationship managers to resource managers knowing how to utilize the full potential of their human resources.
The new breed of HR managers need to understand and know how to measure the monetary impact of their actions, so as to be able to demonstrate the
Вђњa Host Of External Factors And Demand-Side Management Programs essay help free
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General Electric (Jess Willson)
вЂњA host of external factors influence a firms choice of direction and action and, ultimately, its organizational structure and internal processesвЂќ (Pearce and Robinson, 2004). These factors are the foundation for the forces and trends research. General Electric is a leader in the technological industry providing new innovation in lighting, medical equipment, power transmissions and industrial products. Their vision statement вЂњimagination at workвЂќ tells of how GE is constantly striving to create new and innovative products for their company. There are three outside factors that have an impact on GE which are social, economic and technical.
There are more and more utility companies that are providing both electricity and electric related services to try and help their customers decrease their electric bills. These services that are being provided are a benefit to society and include controlling the demand for energy, reducing the emissions of carbon dioxide and trying to slow global warming. The social factors that affect a company вЂњinvolve the beliefs, values, attitudes, opinions, and lifestyles of persons in the firmвЂ™s external environment, as developed from cultural, ecological, demographic, religious, educational, and ethic conditioningвЂќ(Pearce and Robinson, 2004). The services that the utility companies are providing are called demand-side management programs or DSM. By using DSM programs, it will reduce the amount of electricity being used by improving the operational and technical efficiency for the consumers. There is a direct load control program that handles the timing of electricity by using control equipment at the consumerвЂ™s site or by having pricing options for the electricity that can fluctuate depending on time of use.
One way that GE helps their customers is by offering a rebate or a low interest loan to pay for the extra cost of energy efficient actions. GE has also been involved with the market transformation program. This is when the utility companies work with the manufacturers to create a product that is more efficient and then they are able to pass the savings on to the consumers. Another social factor GE is involved with is the energy star million drive which is to save energy and protect the environment. They have guaranteed to enable some energy power saving management features on close to 100,000 computer monitors throughout their businesses based in the United States. Once this is accomplished, it will save about 42 million kilowatt hours per year which is enough to provide light to 400,000 homes every month. Another program GE is involved in is to reduce the Greenhouse Gas emissions by more that 27,000 metric tons which is the same as removing 6,000 automobiles off the road. These programs are designed to both cut costs and help the environment.
There are major challenges to the industry that GE has to try and deal with. These challenges include electrical consumption, unstable fuel costs and the focus on the environment. The impact on policy on long term investment decisions embodies one of the most significant aspects in the utility industryвЂ™s existing strategy and its structure for the future. вЂњEconomic factor or forces that need to be considered for examination may include the availability of credit, the level of disposable income, the ability of people to spend their money, prime interest rates, inflation rate, trends in the Gross Domestic Product (GDP), and the direction of the economy which the company operatesвЂќ(Pearce and Robinson 2004). Between now and 2030, it is predicted that the worldвЂ™s consumption of electricity will double.
GE has a few innovations that will be more cost effective in generating electricity. One is a solid oxide fuel program that provides a continual flow of power at very high temperatures which greatly improves energy efficiency. Also, GE has over 35 years of experience in the design and supply of geothermal plants. Use of these plants will also cause a reduction in energy costs while providing consumers with
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Strategic Competition in the Sneaker Industry
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Since the birth of the Internet in 1969 to its commercial adoption in the 1990s, the World Wide Web has enabled businesses and consumers to connect with one another to exchange and share information, anywhere and anytime. The web has provided consumers and businesses with enormous advantages by reducing the transaction time and increasing the level of convenience.
As we leap into the twenty first century, it seems as though everyone is on the Internet and more companies are establishing an online presence to maintain their competitive edge. Along with high speed Internet connections, the Internet has become an essential tool for any business to compete domestically or globally. In todays high speed environment, one would be hard pressed to find a Fortune 500 company conducting business with either other businesses or consumers to not have its own web site . Businesses are developing web sites to provide their consumers and business partners with information and e-commerce. Large firms who have not adopted e-commerce as part of their strategic initiatives will miss out on opportunities to attain growth and competitive advantage.
Nike and Adidas are two primary footwear companies along with their competitors who have adopted an online e-commerce strategy to increase their sales and product awareness. Most importantly, companies like Nike and Adidas have invested heavily into online brand building and image development. Nike launched the nike.com web site in August 1996 primarily to provide information to its consumers. In 1996, there were no e-commerce capabilities present, however the web site served as a brand building tool for the company. In 1999, Nike redesigned their web site with expanded e-commerce functionality. Adidas launched their web site in the spring of 2000, which was later integrated with e-commerce capabilities during that summer.
Attaining market share is important to both Nike and Adidas. In order to maximize their market share, both Nike and Adidas have placed a great importance in developing their branding and marketing strategies on the net through web appearance and user friendly functionalities such as ease of purchase, speed, and navigation.
Nike and Adidas have adopted a merchant model which encompassed three pillars of their e-commerce strategy: pure-play e-tailer, bricks and clicks, and their online store. The main purposes of acquiring relationships with pure-play e-tailers is to promote and market products; focus on the content to create new exposure and; gather, gain and transfer market knowledge to their business counterparts.
The Internet has proven to be a useful tool for firms such as Nike and Adidas by increasing sales and reducing cost. But most importantly their web sites have provided them with an intangible asset such as market research and consumer buying behaviors. With the data retrieve from consumers, these firms are able to analyze and monitor the buying behaviors of their consumers. The data can also be used to exploit new marketing campaigns and promotions. Furthermore, the data collected can be used to produce innovative designs and improve their research capabilities.
Although, there are perceived benefits in conducting e-business over the Internet there are also potential barriers. The major barrier of e-commerce with respect to large firms such as Nike and Adidas is the technological barrier ranging from infrastructure to security. An ongoing battle the e-commerce industry faces is security. With time and additional research and resources, this problem will be mitigated. Meanwhile, both Nike and Adidas must minimize their technological risks.
While both Nike and Adidas currently have an essential advantage over their rivals, there are chances that their advantages will not last forever. The Internet has redefined competition therefore changing the evolution of competition. Although, Nike and Adidas have engaged in e-commerce there are apparent gaps within their e-business strategy. E-commerce is only available in restricted regions such as the United States and the United Kingdom, therefore opportunities exists within the global market to expand. The future will prove to be very interesting for both Nike and Adidas, and those who move quickly will dominate the market.
A daring dream began in 1920 when Adi Dassler fashioned his first shoe in Herzogenaurach, Germany. In 1948, Adidas was founded along with its identifying trademark, the three stripes. From its inception, Adidas has faithfully adhered to three guiding principles embedded deep into its DNA: produce the best shoe for the requirements of the sport, protect the athlete from injury, and make the product durable. As time has passed, Adidas
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Strategic Design at Dynacorp
Strategic Design at Dynacorp
“Strategic Design at Dynacorp”
I. Dynacorp at a Glance
The Dyna Corporation is one of the leading global information systems and communications (ITC) companies. Dynacorp has its roots as an office equipment company and moved into high technology applications.
In the 1980s it became industry leader, being famous for technological innovations and high quality products.
The 1990s were a challenging period for the company. The former rapid growth decelerated and earnings were reduced as well.
Eventually, both inside and outside critics, identified that Dynacorp had problems in bringing new products to market, that costs were too high, and that it reacted too slow and unresponsive to changes in the market. Furthermore, ITC consulting firms entered the market and have become a serious competitor for the simple reason that they offer a higher value to their costumer through additional services and solutions.
II. Identification of Dynacorp´s status quo
Like many new companies, Dynacorp has adopted since their first days the functional grouping structure, as shown in figure 1. The strategic design consisted of three line divisions, namely engineering, manufacturing, and marketing. These were supported by corporate center units, for instance finance and human resource management.
Figure 1: Outline of Dynacorp´s Functional Organization
The engineering division was divided into ten groups of technical areas. In the beginning its personnel was based in one location. But over the time the engineering division was spread across three regions of the USA.
The manufacturing division was organized by location and controlled as a cost center. Like engineering, Dynacorp`s manufacturing division has started in one location, but afterwards it expanded to 12 plants in the USA and in Europe. In the beginning some factories had begun to produce one specific product line, but nowadays, due to a broader product range, most factories produce various product lines.
Like the manufacturing division, the marketing division was organized geographically as well. However, the geographic units differed from those of manufacturing.
III. Analysis of Dynacorp´s status quo
Subsequently to the general description of Dynacorp`s organizational design, it is time to understand its structure and its inherent problems. It is worth using the strategic design lens for this analysis. From this perspective the functional group structure has some strengths and weaknesses, which can be identified within Dynacorp.
First of all, it is valuable to know the fundamental tenor of a functional structure. Basically it brings individuals together who share similar functions, disciplines, and skills. This point helps to identify Dynacorp´s major problems, the time to market and the unresponsiveness to market needs. These problems are caused by the separation of the three functions. For example one assumption of the functional design is the existence of a sequential interdependence. This means that a process is divided into distinct stages. However the case shows that the Dynacorp´s product development process is actually a reciprocal process with dense interactions and is not a step-by-step process. For example every customer wish or proposal of the manufacturing division leads to a redesign of a product, delaying time to market, and/or eventually leading to higher costs. Dynacorp tried to solve this problem with two strategic linking techniques: cross-functional teams and product managers. However, the cross-functional teams failed and were insufficient because of the team members who persisted in wearing its functional hats. In addition, Dynacorp´s product managers have the typical characteristics of functional organization members. They have a deep functional expertise, but due to a career within a specific function the product manager have a narrow perspective and are not capable of merging the perspectives of the divisions. That is indeed why they failed.
Furthermore, this attempt reveals an additional point which has to be addressed. Namely the need of a functional structure to have a separate incentive and control system. This is confirmed by Dynacorp´s evaluation problem, especially the ”two bosses problem”.
The case also says that employees complaint about the tall hierarchy. This is also a disadvantage of functional organizations. The high number of layers is responsible for the slow information flow. Moreover, it is likely that each organizational
Soviet Union And Strategic Decision college essay help nyc
Strategic Decision Making in the Cuban Missile Crisis
Strategic Decision Making in the Cuban Missile Crisis
Strategic decision success is heavily reliant on the attitudes that managers take toward the decision-making process and toward the decision itself. The Cuban missile crisis is the most well known case of strategic decision making at the level of the nation-state. The nature of the case was such that the use of evaluative frameworks and concepts along with the right managerial attitudes eventuated in a successful strategic outcome. The Cuban Missile Crisis was a confrontation between the United States, the Soviet Union and Cuba. In April 1962 the Soviets began supplying Cuba with military arms in the form of surface-to-air missiles and surface-to-surface cruiser missiles, and later, sometime during the spring of 1962, the Soviets began to install nuclear missiles in Cuba. In order to implement the best strategic decision, the United States, under the command of John F Kennedy, formed the Executive Committee, whose role was to manage the crisis.
The introduction of strategic missiles into Cuba was motivated mainly by the Soviet leadersвЂ™ desire to overcome the existing margin of U.S. strategic superiority (Harrison, 1999). At the time, the U.S. had a huge nuclear advantage over the Soviets, they had more than eight times as many bombs and missile warheads and they also had 15 strategically placed Jupiter ballistic missiles at Izmir, Turkey (NRDC). At the time, Soviet missiles were only powerful enough to be launched against Europe but the U.S. missiles located in Turkey were capable of striking the entire Soviet Union. Krushchev, the Soviet prime minister, thought a deployment in Cuba would double the Soviet strategic arsenal and provide a real deterrent to a potential U.S. attack against the Soviet Union or Cuba.
The Soviet decision to install missiles in Cuba was strategic in many areas, but one area that is often overlooked was the political advantages that the Soviets would gain. This is because a general improvement in the Soviet military position offered enticing prospects for specific gains in the foreign policy (Harrison, 1999). If the nuclear complexes were to be completed, Soviet leverage over other international matters, such as Berlin, would be improved. On top of this is the fact that other Latin American countries might see the benefit of having Soviet arms in their country to deter invasions and the Soviets would gain even more strategic military superiority over the United States (Harrison, 1999).
In terms of the reasoning behind the Soviets Premier, Nikita Khrushchev, he has been quoted as saying вЂњI had the idea of installing missiles with nuclear warheads in Cuba without letting the United States find out they were there until it was too late to do anything about them. Everyone agreed that America would not leave Cuba alone unless we did something. We had an obligation to do everything in our power to protect Cubas existence as a Socialist country and as a working example to the other countries in Latin America The Americans had surrounded our country with military bases and threatened us with nuclear weapons and now they would learn just what it feels like to have enemy missiles pointing at you; wed be doing nothing more than giving them a little of their own medicineвЂќ (Spartacus.co.uk). So it is clear that not only did the Soviets want to level the playing field in terms of strategic military location, but also to protect the ideals of a Socialist country.
The United States could not allow this situation to come about under any circumstances, so their main objective was to have the Soviet missiles removed from Cuba. The elimination of the missiles would have to be done in such a way so that other nations were not alienated and be inclined to move into the Communist camp. Furthermore, the United States had to respond in a way to remain in favour of public opinion and they also had to base their decision in order to prevent strengthening the relationship between the Soviets and the Communist Chinese (Harrison, 1999).
In making the decision, the Executive Committee was limited to very few sources of information; these sources were general shipping reports, doubtful information obtained from Cuban refugees, unverified reports from agents of the council of the Central Intelligence Agency, and most important U-2 aerial reconnaissance flights that required reasonably good weather (Harrison, 1999). It was a tricky situation, made all the more complex by the most important constraint: time. For every day that the United States did not act, the Soviets became closer to completing the missile sites with nuclear capability and in turn closer to obtaining a strategic military advantage over the United States.
When these constraints were reviewed by the Executive Committee it was clear that they would have to remove the missiles from Cuba
Meaning Of Strategic Human Resource Management And Consistent Theme online essay help: online essay help
Strategic Human Resource Management
Essay title: Strategic Human Resource Management
Q. Critically analyse the article for the meaning of strategic human resource management and identify the factors impacting on strategic human resource management in contemporary organisations.
Before an argument can be put in place about whether human resource management (HRM) can be strategic, we need to be aware that human resources (HR) is more then maintaining personal functions. Corporate and economic developments since the 1950Ў¦s have dictated that businesses, to remain competitive, need to view HRM as an evolutionary process which combines the HR functions with the HR policies and strategies, with the business strategies and management teams, with all stakeholders (Unions and Governments) and with the organisation and understanding of the actual employees themselves. Strategic HRM is about aligning the abilities and desires of the employee with the needs of the business so that the corporate objectives can be met. HRM can no longer afford to be viewed as simply an administrative task. Corporations need to have ЎҐproactiveЎ¦ policies to attract and retain the right type of people to their business and in this ever changing and uncertain economic climate the management of employees takes on an even greater role.
Using the VIRO (value, rareness, imitability, and organisation) human resources can be proven to be strategic and therefore, provide firms with a competitive advantage through its people. The article by Barney and Wright (On becoming a strategic partner: The role of human resource management in gaining competitive advantage ЎV page 32) states that companies can achieve this competitive advantage on three levels, those being through the use of physical capital resources, the organisational structure and the human capital resources. The article by Schuler and Jackson titled ЎҐLinking Competitive Strategies with Human Resource Management PracticesЎ¦ states on page 208 that competitive advantage can be achieved through innovation, quality enhancement and cost reduction strategies all of which require certain specific employee behaviors to be achieved. The consistent theme with the articles is that the actions and conduct of the employees directly affects whether these forms of competitive advantage can be achieved. Strategic HRM focuses on influencing the behaviors of the employee so that their activities are aligned to achieving the corporate goals. The key is to identify the policies needed to influence and guide employees so that this, working towards a similar goal, can be achieved.
Value, first area covered by the VIRO model, focuses on minimising costs and differentiating products offered. If your product is a service then you can differentiate it by having well trained, competent and qualified staff that the clientele will like dealing with. To achieve this you may need to implement HR policies such as certified training programs. If your corporate strategy is to create value then the role of HR is to implement strategies that will achieve adding value. These may be to cut costs and improve production efficiency. HR may also add value to a firm by increasing revenues through increased employee satisfaction and responsibility ЎV linking an employees remuneration to their individual and over all company performance is one method to building an incentive for employees to generate revenues. The Barney and Wright article provided an example of where a strategic HR choice (paying aircraft on-time bonuses to employees) leads to both increased revenue (better service lead to more passengers deciding to use that airline) and decreased costs (passenger accommodation expenses due to late aircraft was reduced). If HR policies can add value to a corporation it clearly has a need to be included in the corporate strategies.
Rareness, the fact that a resource is limited, can also provide firms with a competitive advantage. The role of HR is to ensure that the characteristics of their human capital can not be found elsewhere (such as with a competitor). In other words HR needs to Ў§exploitЎЁ the rare characteristics of its workforce. For example, William M Mercer Pty Limited emphasises the fact that it is one of the greatest employers of qualifies Actuaries in the world meaning that if the rare mathematical skills of an Actuary are required then the client would contact Mercer and not a competitor who would not have the required skills. HR policies to achieve rareness include graduate recruitment programs and ensuring that the skill of these sort of people (those with the rare skills) are being used appropriately and not in a role that could be completed by some one less qualified and less rare.
Strategic HR should also focus on ensuring that the characteristics of a firm are not easily imitated or copied by others (imitability in the VIRO model). Creating a niche market for your firm can be achieved
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Strategic Change in Government Based on Organization Hierarchy
Strategic Change in Government Based on Organization Hierarchy
Strategic Change in Government Based on Organization Hierarchy
University of Texas at Permian Basin
March 22, 2005
The literature supports the position that there should be a relationship between the structure and organization change. This study was undertaken to determine how different organization roles, hierarchy, and sizes affect planned strategic change. A survey instrument was administered to top federal government agency leadership to assess change in their organization. The intention is to draw common relationships between organization change and specific categories or sizes of organizations.
Role of Change
Business strategy and structure have always been related. Organizational change involves innovation, process improvement, and organizational redesign (Galbraith and Lawler, 1993). They also noted that the hierarchical structure is related to changes in speed, quality and productivity. In recent years, the pace of change has accelerated so drastically that most organizational structures and management principles have no hope of adjusting or adapting (Hammer and Champy, 1993). Today’s changes are discontinuous and happening at a geometric rate. Organizations must be sufficiently agile to be instantly reconfigurable to meet new demands (Tetenbaum, 1998).
Change efforts involve attempting to reduce discrepancies between the real and the ideal (Hersey and Blanchard, 1993). The change could be a first order change that occurs in a stable system that itself remains unchanged. It could be a second order change when fundamental properties of the system are changed such as the fall of communism (Hersey and Blanchard, 1993). Evolutionary changes are gradual and tend to be first order while revolutionary changes are second order. Both of these events could be driving the changes described in this study.
Some changes are limited and incremental in nature. Strategic, system wide changes implemented under crisis conditions are highly risky. Nadler and Tushman (1990) found that all strategic organizational changes initiated under crisis conditions with short time constraints were by far the riskiest. Such changes usually require a change in core values. Some recent trends that have generally lead to significant changes in corporate culture are reengineering, shift to horizontal forms of organizing, total quality management (Daft, 1998). These should not negate the importance of the vision statement as these are tools to assist in bringing about the change.
Some organizations are more able to change than others. Nutt and Backoff, (1992, p. 112) explain that some types of public organizations that can control change and other types that cannot easily control change. Professional agencies such as the IRS and FBI have considerable prerogative to act in a prescribed arena and have a protected budget. Political agencies, such as the State Department, have high control over their actions and may have legislation to protect it. Thus, change may be in the hands of parties outside of the agency.
In examining change, Lewin identified three phases of the change process – unfreezing, changing, and refreezing. This involves getting people ready for the change, providing new patterns of behavior, integrating the behavior into the individual permanently.
Tushman and Romanelli (1985) noted that “only executive leadership has the position and potential to initiate and implement strategic change”. There are four levels of change in people: knowledge, attitude, behavioral, organizational change (Hersey and Blancherd, 1993). This research focuses on the organizational or group performance changes.
Change in Organizations
Organizational change is considered to be the adoption of a new idea or behavior by an organization (Pierce and Delbecq, 1977). The Amburgey and Dacin (1994) study found that strategic and structural changes occurring throughout the history of a firm affect the rates of change in strategy. Strategic change is a change in the firm’s strategy, mission, and vision. This change should influence other organizational changes in technology, structure, and culture (Nadler and Tushman, 1990). The vision is inclined to drive important organizational changes (Belasco, 1990). Strategic organizational changes are usually triggered by factors outside the organization. External challenges, such as dramatic technological innovations, may cause strategic changes. “Strategic organizational changes affect the entire organization and usually change the strategy and the structure, culture, people, and processes” (Nadler and Tushman, 1990).
Burns and Stalker
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Strategic Human Resource Implications of the Resource Based Vew
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Effective human resource management is undoubtedly critical to the success of virtually all firms. Thus its importance is huge in the study of business strategy; which is the system of the firm’s important choices that are critical to the firm’s survival and relative success (Boxall and Purcell 2003). Getting more specific, strategic human resource management as a field of study is concerned with the strategic choices associated with the use of labour in firms and with explaining why some firms manage them more effectively than others (Boxall and Purcell 2003). Traditionally there has been much debate in the field of strategic HRM over two main schools of thought; “best fit” (contingency theory), and “best practice” (universalism).
The “best fit” school of thought argues that HR strategy will be more effective when it is appropriately integrated with its specific organizational and broader environmental context (Boxall and Purcell 2003). This proposes questions about which are the most critical contingencies in this context and how they are best connected. The ‘best practice’ school of thought argues that all firms will see performance improvements if only they identify and implement best practice. This perspective requires top management to commit themselves to key HR practices. Basically, the idea is that a particular bundle of HR practices has the potential to contribute improved employee attitudes and behaviours, lower levels of absenteeism and labour turnover, and higher levels of productivity, quality and customer service. This has the ultimate effect of generating higher levels of profitability (Boxall and Purcell 2003).
Both of the aforementioned “best theory” approaches to strategic HRM place emphasis on critical choices associated with competitive strategy; such as which industry to enter and what competitive position to seek in it (Boxall and Purcell 2003). However, these models make some serious assumptions of the firms HRM. They assume that the firm already has a clever leadership team that makes the competitive strategy choices effectively. They also assume that human resource issues such as hiring and training a capable workforce are straightforward and basic. The resource-based view (RBV) of strategy, a modern school of thought in the field of strategic HRM, sees these issues as strategic rather than straightforward.
THE RESOURCE BASED VIEW OF THE FIRM
In the last two decades, one of the most fundamental questions emerging in strategic management is how firms achieve and sustain competitive advantage. The resource based view has its origins in the new business strategy literature and has very quickly become influential, giving rise to developments in pay systems and training as well as overall models or approaches (Sisson and Storey 2000). It is the variety of different resources that makes each organization unique which leads to differences in competitive performance across an industry (Marchington and Wilkinson 2002). The RBV states that companies can “sustain competitive advantage by implementing strategies that exploit their internal strengths, through responding to environmental opportunities, while neutralizing external threats and avoiding internal weaknesses” (Marchington and Wilkinson 2002). The central argument in RBV is that while tangible resources have often declined in their strategic value, intangible and human resources have increased as a source of value.
Looking at internal sources of viability and advantage, emphasis is placed on resources which are critical to organizational success yet are rare, or not commonly available, are not substitutable and are combined together to form organizational capabilities or processes which are imperfectly imitable, or hard for others to copy; namely value, rarity, imperfect imitability, and a lack of substitutes (Boxall and Purcell, 2003) It is the combination of these resources that will allow companies to gain sustained competitive advantage.
Value means that the resource must be able to make a difference to the organization in the sense that it adds value somehow. Rarity means that there must be a lack of these particular resources within the industry so that they are not plentiful for competitors to use. Imperfect imitability refers to the idea that it is very difficult for other employers to copy (or imitate) the firms processes. Also, these resources must not be easily substitutable by other factors so that they are rendered obsolete or unnecessary.
A study was conducted in the highly competitive ‘hire and reward’ sector of the British road haulage industry (Marchington and Wilkinson 2002). Most firms within this industry were small businesses employing on average 50 drivers. In RBV terms the drivers were valuable in that they allowed for more
Strategic Human Resources Research And Ideal Merger common app essay help: common app essay help
Strategic Human Resources Research
Essay title: Strategic Human Resources Research
Running head: STRATEGIC HUMAN RESOURCES RESEARCH
Strategic Human Resources Research
Robert E. Goss
University of Phoenix
This document provides an analysis of key course concepts as they apply to organizations that have faced situations similar to those currently facing InterClean. The paper examines various situations within these organizations that required specific changes in human resource practices. The paper also presents specific human resource management concepts and the processes the various organizations used to attempt to implement these practices. The effects of these efforts are represented. Appropriate references are detailed following the synopses.
Strategic Human Resources Research
In the ideal merger or acquisition, the newly created entity synthesizes the best qualities of the two merging organizations. A well planned and executed process built on a foundation of open, honest and effective communication can foster success. The human resources perspective, which focuses on the integration of the workforce and key operational processes involved with a merger or acquisition, is often neglected with the focus being on financial outcomes. Studies have shown that mergers and acquisitions often fail to achieve desired outcomes due to people related issues. The uncertainty created by poorly managed human resource related strategies in these mergers and acquisitions have been found to be the catalyst for failure.
Research shows how, in different organizations, human resource departments have a substantial influence on organizational success or failure. Mergers, acquisitions, and organizational changes pose significant challenges for the human resource departments of both acquiring and acquired organizations. When human resource professionals work with the leadership team during the restructuring process, integrating staffing practices with the new business strategy, developing effective performance measurement and training systems, or leading the formulation of new strategies, a company is more likely to achieve its long-term goals.
Managing the Restructuring Process
The reality of business today is that increased competition is driving the need for companies to identify ways to reduce cost, increase productivity, and grow the business to meet the demands of customers and investors. Companies may try to increase productivity and profit margins by leaning out their organizational structure or through a series of mergers and acquisitions. Organizational scholars today, such as Jeffrey Pfefffer, would argue that a firm’s performance, regardless of the restructuring method a company may select, will hinge “not on technology, patents, or strategic position, but how they manage their workforce” (Dreher & Doughterty, 2001, p. 3). Different companies have taken different approaches to managing the restructuring process, but each approach contains a human resource focus.
At Shaw Supermarkets, the vice president of human resources decided that seven key human resource initiatives must be undertaken to ensure the successful merger between Shaw and the Star market chain. When HP merged with Compaq, a human-resources executive was hired and charged with managing the restructuring processes, to merge the work forces and cultures of the two companies. The inability of human resources personnel to institute both organizational change and cultural change effectively during the merger of Moore Corporation and Wallace Business Forms is believed to be a primary cause for Moore’s ultimate failure. In planning for a merger with CMG, Logica developed a restructuring approach containing six key elements, similar to the approach used at Shaw. Logica has continued its strategy of growing through merger and acquisition and has continued to refine its processes to support its goal. The success or failure of the human resource initiatives in managing the restructuring process had a direct and significant impact on the success or failure of these organizations.
Performance Measurement System Attributes
The Hanke Group, a local accounting firm in Texas, needed to respond to the critical issue of talent retention. “The issue was addressed
Hr Strategies And Business Performance essay help websites
Strategic Human Resource Management in World Airline Industry
Essay title: Strategic Human Resource Management in World Airline Industry
For over 15 years, there has been an ongoing research on HR strategies and competencies differentiating the business performance. Besides this, HR practitioners have focussed their attention on other important questions as well. Bratton and Gold (2007), for example, tries to question what policies and practices make up HR strategies. Is it possible to identify cluster of bundle of HR practices with different strategic competitive models? What is relationship between different clusters of HR practices and organizational performance? For companies looking for ways to gain a competitive advantage, the implication of HR strategic choices for companyвЂ™s performance is certainly the key factor. Recently business strategy researchers turned their attention to internal attributes of top firms looking at growth and utilization of human resources. This essay will aim to demonstrate how Strategic Human Resource Management (SHRM) practices are getting implemented in world airline industry. It will establish a clear link between industry trends and strategic response.
According to Baney and Hesterly (2006), SHRM theories are based on a set of assumptions, and hypothesis about the way competition in any industry is likely to evolve; and how that evolution can be exploited to earn a profit. The greater the extent to which these assumptions and hypothesis accurately reflect, more likely is that an organisation will gain a competitive advantage from implementing those strategies. On contrary, if these assumptions and hypothesis turn to fail, then organisational strategies are not likely to be source of competitive advantage. Huang (1999) agrees stating that there is a close link between business strategy and HRM methods. He moreover assumes that companies that closely coordinate their business strategy and HRM activities achieve better performance than companies that do not. The international airline industry is currently following similar trends.
Practice of SHRM has outpaced academic work on human capital management. Yet data on how firms actually manage people to provide a source of competitive advantage are scarce (Becker and Huselid, 1999). HRM system that develops and maintains a firmвЂ™s strategic infrastructure must be considered an investment. HR system in high performance airline industries like British Airways, Cathay Pacific, Air France, Delta, etc. are characterised by employee security, selective hiring, decentralized decision making, extensive development, reduced status differentiation and information sharing. Ulrich and Brockbank (2005) have further classified the key HR practices into people; management, information and organisation (see Appendix 1 for further information). The company builds a line of sight from investors and customers to its management and employees through HR practices. Most of the airlines follow such type of practices.
In world airline industry, leading international carriers adopt different business level strategies to face competitive challenges. These broadly classify into two: Growth strategies and Generic competitive strategies (Harrison and Carron, 2001). Growth strategies mainly deal with internal and external growth of an organization with stability whereas; competitive strategies are concerned with cost leadership, differentiation and focus (Bratton and Gold, 2007). Miles and Snow (nd) classified business strategies as defender, prospector, and analyzer and proposed corresponded strategic human resource systems. Business-level strategy deals with decisions and actions pertaining to each business unit, the main objective of a business-level strategy being to make the unit more competitive in its marketplace (Bratton and Gold, 2007)
The competitive challenges in airline industry are arising from the various trends such as recession, privatisation, congestion, overcapacity, technology, etc. In response to these, major international airlines have adopted a range of strategies to maintain and create competitive advantage. These strategies (Botten and MacManus, 1999) fall into three main categories covering: competitive positioning strategies; marketing/customer orientated (HR) strategies, and cost control.
The competitiveness in world airlines is increasingly dependent on size, market share and geographical coverage. As per Botten and McManus (1999) report, British Airways gain most from globalisation and extended geographical route coverage. A considerable emphasis was been put on developing a strong global brand image, quality and customer service, with cost control measures being introduced to improve efficiency. A radically changed market policy covers its different market segments. British Airways implemented a range of new working practices and strategies (see appendix 2) in response to the challenges of market forces, growing competition, and the increased freedom for
Transfer Of Knowledge And Free Flow Of Information essay help writer: essay help writer
Strategic Importance of Knowledge Management
Essay title: Strategic Importance of Knowledge Management
Today the world has more and more of free flow of information leading to transfer of knowledge from a person or an organization to others. Whereas this invariably leads to faster development, it also impacts the competitive advantage held by the innovators of processes or technology. It has therefore become strategically important for one and all in business to understand the knowledge, processes and controls to effectively manage the
system of sharing and transferring the information in the most beneficial fashion.
This paper dwells upon definition, types, scope, technology and modeling of knowledge and Knowledge Management while examining its strategic importance for retaining the competitive advantage by the organizations.
What is knowledge?
Plato first defined the concept of knowledge as ‘‘justified true belief’’ in his Meno, Phaedo and Theaetetus. Although not very accurate in terms of logic, this definition has been predominant in Western philosophy (Nonaka and Takeuchi, 1995). Davenport et al. (1998) define knowledge as information combined with experience, context, interpretation and reflection.
The terms ‘‘knowledge’’ and ‘‘information’’ are often used inter-changeably in the literature and praxis but a distinction is helpful. The chain of knowledge flow is data-information-knowledge. Information is data to which meaning has been added by being categorized, classified, corrected, and condensed. Information and experience, key components of definitions of knowledge, are put into categories through the process of labeling with abstract symbols. This allows the process of synthesis to occur more efficiently than when dealing with masses of individual bits of information. Information coded into symbols to make it “knowledge” may be stored both inside and outside the individuals. Thus, knowledge may be stored within a person in his mind or outside the person in books, manuscripts, pictures, and audio and videotapes or discs. However, while only the individual himself may retrieve knowledge stored within his mind, knowledge stored outside can be retrieved by anybody familiar with the storage systems.
In organizations, knowledge is often embedded not only in documents and presentations but also in “organizational routines, processes, practices, and norms,” and through person-to-person contacts. Even the simplest information about the environment requires the use of rules for interpreting it. This means that for information to become knowledge, people make interpretations, apply rules, and create knowledge. “People with different values ‘see’ different things in the same
Retailer Of Specialty Coffee And Company Encounters college essay help free: college essay help free
Strategic Challenges Faced by Starbucks – Research Paper – tare Arigbodi
Strategic Challenges Faced by Starbucks
The assignment focuses on the case of Starbucks Corporation and analyses the strategic challenges that the company encounters. Using knowledge gained from the MN3100 module and relevant academic literature and research done in order understand the organisation, along with relevant concepts and theories the aim is to identify the issues and apply the appropriate theories and models to give suggestions on how Starbucks can tackle these challenges. The analysis will include assessment of the external and internal factors and competitive forces that affect Starbucks, identified using the SWOT analysis model and PORTER’S 5 FORCES model. Then strategic recommendations will be made using the Outside-in and value approaches. In doing so, I have structured my work in the following way. First the essay will start with a brief introduction and company overview of the Starbucks corporation, followed by SWOT analysis and PORTER’S 5 FORCES table of the challenges that I have identified and summarised into bullet points. Then there will be the discussion of the current and recent strategic challenges that Starbucks faces. Then recommendations on how Starbucks can to solve these problems using relevant theories. Finally, I will conclude with a summary key points discussed and possible recommendations.Company OverviewStarbucks Corporation is an American company and coffeehouse chain, it is a premium roaster, marketer, retailer of specialty coffee around the world (Geereddy, N, 2012). It was founded by three partners Jerry Baldwin, Zev Siegl, Gordon Bowker with a vision to educate American consumers about the fine coffee drinking experience. Then in 1987 the chain was sold to the current CEO, Howard Schultz, to be rebranded. The company operates in 68 countries across North America, Europe, Asia, Middle East and Africa and has about 182,000 employees across over 24,000 stores located worldwide. Their products range from premium teas, coffees, fine pastries and a wide selection of treats. Starbucks also sell a selection of tea and coffee products and license their trademarks through other channels that include licensed stores, grocery stores and national food service accounts. Starbucks also markets its products mix with other brand names within its portfolio of companies, which include Teavana, Tazo, Seattle’s Best Coffee, Starbucks VIA, Starbucks Refreshers, Evolution Fresh, La Boulange and Verismo.
The company’s structure is very customer-oriented and its mission statement from the company profile is as follows: “Our mission is to inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time.” Starbucks’ core competencies can be described by their premium product mix of high quality beverages and snacks at accessible locations and affordable prices, along with providing each customer a “Starbucks Experience” through its supreme customer service and a community to share in the coffee drinking experience. Starbucks had total revenue of $19.16 billion (as of 2015) and has maintained a share of 36.7% in the US market with a very strong global market position (Geereddy, N, 2012). Some of Starbucks competitors are COSTA coffee, PRET-A-MANGER, Dunkin Donuts and also independent local coffee shops.StrengthsStarbucks holds a Strong Market Position with a significant geographical presence and 36.7% market share in the United states. Also one of the most recognized brands in the premium coffee segment, (Geereddy, N, 2012).Starbucks has good human resource management; the company has been listed as Fortune Top 100 companies to work for in 2005.Starbucks has achieved customer brand loyalty through the use of loyalty based programs. Starbucks has also taken advantage of technology efficiently by using Starbucks App which supports their growth every year. (Geereddy, N, 2012).WeaknessesProduct recallsStarbuck although unique have expensive products, especially with economy being sluggish can affect the company.Starbucks has been involved in a number of legal proceedings.Starbucks has an overdependence in the United States market, generates a high percentage of total revenue from the US, which makes it sensitive to prospects of US economy and growth.OpportunitiesWith already successful innovative strategies such as the mobile app, there is opportunity for more technological advancement.Starbucks entry into developing and emerging markets such as Asia, Africa as there is saturation in developed markets.Starbucks can expand their product mix especially recently venturing into tea and fresh juice through the smart acquisition strategy, (Geereddy, N, 2012).ThreatsThe specialty coffee market has become intensively competitive.Starbucks may suffer from significant fluctuations in the market prices of high quality coffee beans. Increased Market SaturationHealth and Wellness trends within the beverage industryForceStrengthBargaining Power of SuppliersWeakLarge variety of coffee suppliersCoffee is not a rare resource/ resources are not rareLow switching costs for StarbucksThreat of Substitute ProductsStrongLow switching costsCustomer brand loyaltyLarge variety of substitute productsBargaining Power of Customers/BuyersStrongLow switching costsLarge variety of substitute productsSmall size of individual buyersCompetitive RivalryStrongStarbucks has a large number of competitors such as McDonalds and also local specialty coffee shops.It’s also easy for a customer to switch from Starbucks to other brands. (Greenspan, R, 2015).Starbucks has a large diversity of rivalsThreat of New EntrantsModerateThe barriers entry into coffee market are not highNew entrants find it difficult to compete against Starbucks due to moderate costs of doing business and supply chain development. (Greenspan, R, 2015).Saturated Coffee IndustryLow switching costs for consumersAccording to a Starbucks website on a post dated December 4th, 2014, published after investor day, Starbucks revealed details of its five-year plan to accelerate profitable growth. The CEO Howard Schultz said “Over the next five years, Starbucks will continue to lean into this new era by innovating in transformational ways across coffee, tea and retail, elevating our customer and partner experiences, continuing to extend our leadership position in digital and mobile technologies, and unlocking new markets, channels and formats around the world. Investing in our coffee, our people and the communities we serve will remain at our core as we continue to redefine the role and responsibility of a public company in today’s disruptive global consumer, economic and retail environments.”
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Essay title: Intimate Human Behavior – What Is Important for You to Bring into the Future from This Course?
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Interclean’S Human Resource Problems And Strategic Human Resource Research admission essay help: admission essay help
Strategic Human Resource Research for Alternative Solutions
Essay title: Strategic Human Resource Research for Alternative Solutions
Strategic Human Resource Research for Alternative Solutions
In attempting to generically research for alternative strategic solutions to InterClean’s human resource problems, Team-C found some plausible best practices which should help align their organizational structure with its goals. The industrial cleaning and sanitation industry is evolving around changing trends and driving forces that are causing InterClean to reassess their competitive advantage of human resource development. InterClean’s recent acquisition of EnviroTech needs an accelerated solution of strategic planning and organizational design involving its management of HR processes. Team-C’s efforts in reviewing and analyzing human capital development alternatives entail the topics of recruitment, diversity, selection, skills sets, training, and HR management techniques within the context of domestic and international settings. These generic benchmarking solutions may help to satisfy InterClean’s marketing agenda for increased market share, 40% profit, and global expansion.
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The recent merger of InterClean, Inc. with EnviroTech, Inc has created a change in the organizational structure and design of the business. The vision and strategy for InterClean is to provide a full spectrum of cleaning services and solutions and to become an industry leader in the institutional and industrial cleaning and sanitation industry.
With the recent merger, the HR department has been tasked to review and assess the current staff so decisions can be made as to what strategies should be implemented. Theses strategies should assist in creating and sustaining a competitive advantage, reducing costs, and increasing financial returns. The HR departments will determine the current strengths of InterCleans sales team, areas of needed development, future staffing requirements, and fit the right people with the correct jobs. Several of the issues the HR department has to consider, are the changes in cultural values between the two companies, creating new sales teams, developing a compensation package to be more attractive than the competitors, and training the staff on the full-service solutions package. The leaders and HR managers must provide the right incentives to empower employees such as rewarding new ideas, providing resources for training, and allowing time for the organization to learn together and make mistakes. This necessitates the whole organization coming together at the right time and place.
A benchmark study found that the merger of Private and Trust Banking experienced similar organizational structure and design changes. The alignment strategy was to achieve strategic goals with economies of scale and the leveraging of existing customer relationships. When the private and trust banking groups merged, several factors were considered. Steps taken include the alignment of organizational design and structure, merging key systems and technologies, adapting sales and marketing approaches, and considering cultural implications (Errett, 1992).
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The Private and Trust Banking merger found that through strategic shifts in the organizational structure and alignment of the various products, a positive cultural change occurred. The overall implementation strategy should serve as a management model that can be referenced in future alignments (Errett, 1992).
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Jd Wetherspoon And Environmental Change popular mba argumentative essay help
Strategic Jd Wetherspoon
Strategic Jd Wetherspoon
The environment is what it provides for the company to be survived in the market. Environmental change can be a fatal for organisations, hence, the organization needs to analyse their environment carefully in order to anticipate the environmental change. There are sources of threats such as revolutionary technologies or the entry of new competitors and environmental change can be fatal for organisations (Johnson et al, 2009).
Macro environment analysis
Macro environment is the highest – level layer in the business environment. This consist of factors such as political, economic, social and technological which impact to the organization. Gillespie (2007) identified that there are many factors in the macro-environment that will affect the decisions of the managers of any organization. Tax changes, new laws, trade barriers, demographic change and government policy changes are all examples of macro change. To help analyze these factors managers can categorize them using the PESTEL model (refer to appendices 1).
This may refers to the government policy such as the degree of intervention in the economy. Government alert with the health of the nation as well and restricted areas for smoking, JD Wetherspoon pioneered completely to non-smoking in most of the pub which this could attract family type customer. Government responsible for the economic policy and regulation as well which leads the economic to determine the extent of populations spending power on goods and services and this might bring impact on the hospitality businesses. Government may imposed tax on the good and services such as the value added tax (VAT), and hence businesses like JD Wetherspoon need to pay tax for their businesses (Gillespie, 2007; Hassanien et al, 2010; JD Wetherspoon, 2010). According to Thomas (2009), JD Wetherspoon attacked the Government over its “opportunistic tax grabs”, which it believes are contributing to the demise of the struggling pub sector where the pub industry as a whole is under great pressure and that the costs of taxes and regulations have gone too far.
According to Hassanien A. et al (2010), economic factors are concerned with fiscal and monetary issues that have a great impact on hospitality businesses. According to the interim report 2010 of JD Wetherspoon PLC, there have been 2 pubs closed down but 17 pubs opened in a total of 775 now. This shows that the economic issues does not affect much of the company to continue expanding. JD Wetherspoon has battled against the smoking ban, recession, above-inflation increases in beer duties and cheap booze offers in supermarkets, which kept drinkers at home (JD Wetherspoon plc, 2009). Jeffs (2008) stated that the economic environment is an evaluation of a countrys statistical data provides an insight into all manner of factors such as inflation rates, consumer spending, unemployment and exchange rates. According the BBC News (2009), the recession hits Wetherspoons sales where else the taxes and regulation faced by the industry had made them increasingly expensive compared drinking at home. And hence, the consumer spending may decrease.
Changes in social trends can impact on the demand for a firms products and the availability and willingness of individuals to work for. Social influences include changing cultures and demographics. The social structure will affect peoples lifestyle and expectation and so will strongly influence their attitudes towards their work and their demand of goods and services (Johnson G. et al, 2009; Hassanien et al, 2010). To follow up the consumer trend, JD Wetherspoon did a series of changes such as offering breakfast to be served in their pubs during day time which cause them to expand their business hours from 7 in the morning. They even strengthened its cider, beer and wine range to offer customers a choice of nine ciders in its outlets across the UK (Morning Advertiser, 2005).
Hassanien et al (2010) and Evans (2003) both stated that the internet has generated a process of disintermediation and reinters mediation in the hospitality goods and services where technological influences may refer to innovations such as the internet, nano-technology or the rise of new composite materials. In recent year, e-commerce and information technology have given a great impact on the hospitality and tourism industry. Technological factors did affect JD Wetherspoon as well, they set up their own website on the internet by providing information about what are they serving,
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