Chapter 6 2. What effects on company strategy have you observed as a result of the global economic downturn which began in 2008? As a result of the global economic downturn many companies intensified cost-cutting across their firm‚ a strategy to balance the net cash flow of the company. Many shifted their commodity sales expectations and reduced their sales forecast. As a result they reduced their output to match demand and reduced their workforce as well to reduce idle workers and payroll
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Strategic decision making into 3 modes: Entrepreneurial mode – where formulation of strategy is done by a single person. Focus is on opportunities and growth. Advantage is the speed with which strategy can be formulated and implemented. Disadvantage is that does not consider problems that may arise in the processes. Strategy is characterized by bold decisions. For example WIPRO Infotech ‚ Apple computers Adaptive mode – it is characterized by reactive solutions than proactive search for new opportunities
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Kingdom by the year 2004. For a company like Wm Morrison‚ different strategies must have been put into play for the company to be moving forward. “What is Strategy?” according to Slack & Lewis (2008‚ p.5) is a question that “is not easy to answer what seems like a straightforward question”. However‚ it has to do with setting of goal and planning the path to achieve the goals. According to Johnson‚ Scholes & Whittington (2008‚ p.3) "Strategy is the direction and scope of an organization over the long-term”
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descriptions of strategy (i.e. definition of strategy‚ strategic intent‚ strategic planning etc.)? What are the definitions of intended‚ emergent‚ discarded and realized strategy? What are three organizational level decisions that focus on long term survival? What are the definitions of a corporate and a business strategy? Describe the seven steps in the strategic planning process. What is competitive advantage? What is SWOT an acronym for? What are the benefits of strategy formulation? What are
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INTRODUCTION TO THE BLUE OCEAN STRATEGY The Blue Ocean Strategy (BOS) concept is known to us since 1995 on a book titled “Blue Ocean Strategy” written by W. Chan Kim in which the book was a success and being translated into over 40 languages (Bryan‚ 2006). However‚ the concept that the author described had been used in practice decades ago. In this write up‚ focus will be given on introducing the blue ocean strategy concept and examples from Crocs incorporation and Nintendo incorporation
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actions that result in the formulation and implementation of plans designed to achieve a company’s objectives. * There are 9 critical tasks: * Formulate the mission * Analyze internal conditions and capabilities * Asses external environment * Analyze options—match resources with external environment * Identify most desirable options (evaluate in light of the mission) * Select long term objectives and grand strategies to achieve the most
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Introduction We‚ as co-managers of Club z Inc.‚ used differentiation strategy which “seeks to provide products or services that offer benefits that are different from those of competitors and that are widely valued by buyers”(Johnson‚ Scholes and Whittington‚ p.229‚ 2008) in order to meet the shareholders/investor’s expectations which were: 1. Grow earnings per share(EPS) 7% annually through year 15 and 5% annually thereafter. 2. Maintain a ROE(Return On average Equity) investment of 15%
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pick-me-up. Coffee shops are on the rise in many local communities. These stores are popping up everywhere‚ from the local Starbucks or Einstein chains‚ to the small local coffee shop opened by the couple down the street. This paper will discuss the strategy planning management must go through when opening up a new coffee shop. It will define the strategic plan and identify the critical information that must be defined and analyzed by management. It will then discuss the importance of a solid strategic
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Assessment | Task | Assessment | Outcome | Assessment | Establish firm economically | 8 | Determine and communicate strategic direction | 10 | Competitive advantage | 10 | Acquire‚ develop and manage resources | 10 | Oversee formulation and implementation of strategies | 10 | Greater value creation | 10 | Establish and manage stakeholders | 8 | Establish balanced control | 7.5 | Higher firm performance | 10 | Responsibilities of leader based on perspectives I/O Economics: Position firm economically
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Strategic management is the comprehensive collection of ongoing activities and processes that organizations use to systematically coordinate and align resources and actions with mission‚ vision and strategy throughout an organization. Strategic management activities transform the static plan into a system that provides strategic performance feedback to decision making and enables the plan to evolve and grow as requirements and other circumstances change. What Are the Steps in Strategic Planning
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