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need some help finishing this work (task number2). if you are good at finding the material and know how to paraphrase it, so it is not too identical. let me know what you think. this is part of task 1. you can take a look at task1 and see what material i have used.


Introduction:

 

You will use the various analytical tools presented in the course to provide a SWOT

 

(strengths, weaknesses, opportunities, threats) analysis for a company with which you are

 

familiar and have not previously performed analysis on such as a competitor of your current

 

employer. Once the SWOT analysis has been generated, you will discuss how this

 

information might be used in terms of making strategic decisions for the company. You will

 

also discuss what makes a strategy either successful or unsuccessful and how the SWOT

 

analysis can affect the overall success or failure of the strategy. Finally, you will use your

 

analysis to create a business strategy for the company in task 2.

 

Requirements:

 

A. Evaluate what makes a strategy either successful or unsuccessful by doing the following:

 

1. Discuss how the creation of the vision, mission, and values statements are critical in

 

the formation of the overall strategy.

 

[discussion with details of how the creation of those statements are critical in the

 

formation of the strategy.]

 

Creating a Strategic Vision:

 

?

 


 

Defines the organization?s upcoming ambitions for the company to make a

 

profit for the stakeholders.

 


 

?

 


 

?

 


 

Creates the path for the management office.

 


 

?

 


 

Presents the convincing justification.

 


 

?

 


 

Uses unique and detailed slogans that people identifies to a specific product.

 


 

Strategic Objectives

 

?

 


 

Are the organization's aims to market a competitive and profitable product or

 

service.

 


 

?

 


 

Are dedicated to outperform the rivals.

 


 

The Mission Statement:

 

The company creates particular slogans for an unique identity.

 


 

Defines the present business drive ?who we are, what we do, and why we are here.?

 

Should identify the business purpose, (the profit is not considered here).

 


 

Core Values:

 

The principles, and behavioral models the employees use when directing the organization?s

 

commerce and applying the strategic vision and mission.

 

Part of the organization?s philosophy and the guidelines reinforced by management.

 

Aligned with the vision, mission, and strategy supporting the company?s success.

 

Describes performance objectives for each department.

 

Spreads the goal process to all departments.

 

stablishes goals that back the strategy.

 


 

Strategy Making:

 

Features a sequence of tactical steps.

 

Involves selecting between planned choices.

 

Supports actions that outperform the competition.

 

A group determination involving managers in all departments.

 

Transforming strategic procedures into actions entails:

 

Guiding structural accomplishment.

 

Inspiring individuals.

 

Creating and reinforcing capabilities.

 

Developing a strategy-supportive work environment.

 

Accomplishing performance goals.

 


 

?discussing the development of a strategic vision, mission statement, and value statement.

 

Develop vision and mission statements

 

Vision and mission proclamations express the principle of the organization's philosophies

 

and values and delineate a position in the business world. They build a permanent

 

mindset for all characteristics of the daily operations.

 

The vision statement articulates the business?s prime goal and motivation. The mission

 

statement presents a plan to of that vision by recognizing the areas, customers, and

 

principles and objectives of the business.

 

?Provide an overview of the importance of each of these aspects of business planning

 

and strategy.

 

Vision

 

What are the principles or views of your business?

 

What would be the end result of your efforts?

 

Mission

 

What are the steps you will take concerning this broad vision?

 

Who benefits from the existence of the organization?

 

A vision statement for any firm describes the main purpose and often coincides with the

 

founder's ideals. the vision presents how the founder visualizes the business?s

 

growth, values, workers, achievements in society, etc. The founder has the important

 

role of creating a meaningful vision. Once he has defined the vision, he will develop

 

strategies to move the organization towards his vision. He then starts the

 

development of the firm?s mission.

 


 

Mission Statements for any Firm.

 


 

The mission statement is offers with more detail the business strategy using the

 

customer's viewpoint and it aligns with the vision of the business.

 

The mission uses three questions:

 

What do we do?

 

How do we do it?

 

For whom do we do it?

 

What do we do? It is not about customer service; it is more about the end result. The

 

real satisfied need when customers use products or services. Customers purchase a

 

product for economical, social, and emotional factors. After answering this question

 

from using those factors will assist in answering the other questions successfully.

 


 

How do we do it? It describes the procedural components of the business. It defines the

 

product or service and how to deliver it to customers, and it must fulfill the need of

 

the customer with every purchase. Advertisement and infomercials use this method

 

of delivery to become a successful business.

 


 

For whom do we do it? This question will help to direct the marketing efforts to a specific

 

demographic. Business owners understand that not everyone is a potential customer.

 

Customers always have demographic and geographic limitations. Management must

 

define the customers that will buy and the geographic location which the business

 

will succed. Eventually the business can add new customer groups and expand

 

geographically.

 


 

When a business has multiple customer groups multiple mission statements can be

 

developed. The vision and mission statements are used to guide the business with

 

added flexibility to be able to adapt quickly. The company needs to remain

 

competitive with market changes. The vision and mission must be checked for

 

adjustments periodically.

 

?Discuss vision, mission statement, and value statements in detail and build a case for

 

their strategic importance to a company.

 


 

MISSION: Managing with strength to improve everything on a daily basis.

 

The mission statement gives the confidence to the organization by providing a mindset

 

?We are capable and the best? a mission statement puts ideas in motion to avoid

 

mediocrity.

 

VISION: provides inspiration and courage, future opportunity and obsessed with change.

 

VISION creates excitement about the future, and change brings you closer to what?s

 

coming next. The excitement of that future dissolves any fear about the uncertain.

 

10 Core Values:

 

1. Impress Through Service

 

2. Promote and experience Change

 

3. Make it fun and unique

 

4. Be Audacious, and Imaginative

 

5. seek Progress and Knowledge

 

6. Build Truthful Relationships

 

7. Build a Progressive and caring team

 

8. Promote efficiency

 

9. work with Passion and Determination

 

10. Be Modest

 


 

?Tie each of the three components to the overall strategy of a business and explain how

 

they provide a framework for future strategic planning.

 


 

Strategy describes how we will achieve our goals the for the period.

 

A vision concentrates on the business as a whole. the firm?s strategy focuses on an

 

individual business component or industry.

 


 

A mission has different planes of strategy with a specific focus, and diverse tools and

 

skills.

 

The values in a team strategy identify how a team gets the organization meet its goals

 

and objectives.

 

Three important basics of a good strategy are planning, execution and communication.

 

2. Discuss the importance of leadership team buy-in of the strategy.

 

A2. Leadership Team Buyin

 

(discussion with details of the importance of leadership team buyin)

 

WHY A COMPREHENSIVE, WELL-EXPLAINED STRATEGIC VISION IS IMPORTANT

 

It sets management?s outlooks about the organization?s ongoing trend.

 

It makes sure all departments share the same culture and decision making.

 

It feeds the employees the vision and to make it their own.

 

It delivers an inspiration for supervisors in preparing team objectives and shaping

 

strategies that relate to the overall strategy.

 

It shapes the organization?s future.

 

The CEO

 

chief architect of strategy: He makes sure the development of the strategy is

 

in sync with the vision.

 

Senior Executives

 

Shape the main strategy elements concerning their own responsibility.

 

Managers of divisions, regions, factories

 

Shape everyday duties for their own teams to align their specific parts of the

 

strategy.

 


 

Management and employees need to communicate and function as a team. Such highpoint is

 

the best transferable notion from the vision to the business world, nevertheless

 

communication is frequently underestimated.

 


 

Communicating the strategy is critical at the management level who believe that a structural plan

 

is necessary. Without having all departments in oriented, any belief of effective re-structuring a

 

corporate model could be jeopardized.

 

Create a whole communications strategic objective.

 

The vision or mission statement are used here.

 

Have well defined goals.

 

Communicating the objectives will create new outcomes, so the manager will make any

 

adjustments.

 

Pinpoint important strategies.

 

WHAT? WHERE? Questions offer a good feedback to evaluate the program.

 

Integrate a suitable feedback loop.

 

Measure results and applicable adjustments to improve communication. (pepperdine univ.)

 

3. Discuss the use of at least two analytical tools in performing a situational analysis.

 


 

Chapter one discusses the three tests of a winning strategy (Fit Test, Competitive Advantage

 

Test, and Strong Performance Test)

 

A3. Analytical Tools

 

logical discussion with details of the use of those tools in performing a situational analysis

 


 

How tough is the competition?

 

What are the industry trending traits, and the effect in profitability?

 

How strongly positioned is the competition?

 

What tactical changes are competitors expected to follow?

 

What are the commerce?s crucial accomplishment factors?

 

Is the business position favorable to great profitability?

 

Companies function in a general ?big-setting? that contains six main elements:

 

political influences, economic circumstances, sociocultural powers, technological features,

 

environmental causes, and regulatory laws. These elements will affect the organization's industry

 

and rivalry situations, some influence more than others. PESTEL analysis, an acronym that

 

helps remember the six elements. (Thompson 46)

 

1-For each aspect, identify the participating entities, and competitive pressures.

 

2- Evaluate how tough the pressures are.

 

3- Determine the strength of the competitive forces. Can they help generate profits.

 


 

SWOT Analysis

 

? Is a great tool for measuring a business?:

 

Internal strengths

 

Internal weaknesses

 

Market opportunities

 

External threats

 


 

INTERNAL STRENGTHS

 

A Capability

 

? A skill that a firm performs succesfully.

 

An Essential Capability

 

? Is a skillfully executed internal process that is important piece of the strategy.

 

An Unique Capability

 

? Is a crucial action that a business executes better than the rivals.

 

FIRM?S WEAKNESSES

 

Weakness (Insufficiency)

 

? a business lacks the competitive knowledge to surpass the competition.

 

Classes of Weaknesses:

 

? Mediocre skills, and knowledge.

 

? Insufficiencies in organizational assets.

 

? inferior capabilities in crucial fields.

 

MARKET OPPORTUNITIES

 

Features of Market Opportunities:

 

?

 


 

A target market

 

Exemplifies potential.

 


 

?

 


 

A slightly motivating market

 

Offers risky and uncertain profitability.

 


 

?

 


 

An unfitting\incompatible market

 

Avoided when strengths do not match the market factors.

 


 

THREATS

 

How To solve Issues:

 

HOW TO:

 

?

 


 

solve trials of starting competitors.

 


 

?

 


 

fight price wars.

 


 

?

 


 

decrease costs and lower prices.

 


 

?

 


 

sustain growth during low demand.

 


 

?

 


 

adaptability to different market demographics.

 


 

Strategic actions:

 

?

 


 

Develop quickly and carefully into distant markets.

 


 

?

 


 

Move the firm to suitable strategic group.

 


 

?

 


 

Identify buyer interest in rivalry products.

 


 

?

 


 

Develop a new product line.

 


 

?

 


 

Acquire a company that offers needed strengths.

 


 

PESTEL Analysis

 

PESTEL analysis is a system used to study the technological, economic, political, social and

 

setting.

 


 

The significance of PESTEL analysis in shaping an effective strategy

 

Fluctuations in the industrial environment generate ventures and difficulties. PESTEL analysis is

 

used in the shaping of an effective strategy.

 

?

 


 

It identifies commercial ventures and can identify threats.

 


 

?

 


 

It helps plan changes within a business environment. Checking what the firm is doing, allows

 

the business adjust to changing industry trends.

 


 

?

 


 

It can anticipate failing projects.

 


 

?

 


 

It avoids making assumptions and cultivates an objective interpretation of the industry.

 


 

SWOT ANALYSIS

 

SWOT analysis is a procedure of assessing a firm?s weaknesses, possible complications,

 

strengths, opportunities to deliver unbeatable insight into matters that influence the

 

effectiveness of the firm. The SWOT analysis identifies and allocates important elements that

 

positively or negatively influence achievement, offering a close view at the firm.

 


 

Significance of SWOT analysis in producing an effective strategy

 

SWOT analysis develops and qualifies business goals. The study of the 4 categories offer

 

precise views used to promote an effective strategy.

 


 

4. Discuss the importance of having the appropriate alignment between strategy,

 

people, and corporate culture.

 

a. Discuss the role that this alignment plays in determining the success or failure of

 

the business strategy.

 


 

A4. Alignment Between Strategy, People, and Corporate Culture

 

clear discussion with details of the importance of alignment

 

Effective strategy implementation demands team work. Supervisors have an obligation in their

 

departments, and everybody contributes to the strategy.

 

Implementing the strategy involves creating the specific activities needed to accomplished and

 

deliver good results. The organization's action plan has to be adapted to fit the firm's condition.

 

Applying a new strategy for a company in an economic crisis is specific from a strategy execution in

 

a successful company. Managers use different styles in attaining the desired organizational

 

modifications. There's no just one successful strategy implementation for all company situations and

 

categories of strategies. There is a guide of steps required to execute a strategy that establishes

 

management's program. how to plan according to the circumstances. (Thompson 288)

 

The Main elements of the Strategy Implementation Process

 

Regardless of the necessity to shape a business's strategy-executing tactics to the specifics of its

 

condition, some decision-making principals are always included. Ten basic steps:

 


 

1. Hire talented managers and employees with strategy implementation skills.

 

2. Provide organizational resources necessary for effective strategy execution.

 

3. Implement an organizational structure to support the strategy.

 

4. Assign resources accordingly to support the strategy execution.

 

5. Introduce rules and procedures that enable strategy implementation.

 

6. Implement methods and business guidelines that improve strategy execution

 

accomplishments.

 

7. Install data and operative methods that help employees to execute their jobs effectively.

 

8. Provide rewards when achieving strategic and financial targets.

 

9. Inculcate a culture that stimulates effective strategy implementation.

 

10. Apply the internal direction necessary to drive strategy implementation forward.

 

The result of the strategy accomplishment work depends on how well leaders execute these

 

steps. Strategies are unsuccessful because of meager implementation.

 

Planning starts with a valuation of the organizational changes needed to carry out the

 

strategy effectively. Each manager finds what requirements exist in the department to

 

execute the business's strategy and the steps to accomplish it. It is mandatory to define how

 

to create those essential changes. Successful strategy leaders are good in encouraging

 

efficient conducts on employees and the schedule is followed.

 

Big corporations depend on local managers to oversee strategy execution who can

 

encourage required changes at all department levels and deliver results. Strategy application

 

involves changes and needs a leadership with the knowledge of how to do it. (Thompson

 

290)

 

Two managerial steps that provide good strategy execution:

 

1-Creating a strategy that supports corporate culture.

 

2-Providing the internal leadership to drive the implementation of strategic initiatives forward.

 


 

Corporate culture: values, attitudes, fundamental principles and company history that

 

define work and business practices.

 

Every business creates corporate culture and is important in strategy execution and business

 

performance.

 

Walmart's culture is dedicated to of low operating cost, work ethic, company executives'

 

visiting stores, listening to customers, and employees. General Electric's culture is harddriving, result focused; sharing ideas, and global operations.

 

Recognizing Fundamental Structures of Corporate Culture

 

A company's corporate culture is the work environment and the workplace:

 


 


 

The values, ideologies, and standards that the organization addresses and applies.

 


 


 


 

The management way of communicating policies, and procedures to employees.

 


 


 


 

The spirit that exists at work, fun or methodical.

 


 


 


 

Managers and employees? teamwork interaction and communication.

 


 


 


 

The strength to conform to expected norms.

 


 


 


 

The actions encouraged and rewarded by management.

 


 


 


 

The traditions and stories that support corporate culture.

 


 


 


 

The way the business deals with the pledge to environmental sustainability.

 

The founder produces the business principles, policies, operating methods. The managers

 

and employees assimilate the culture created by top management. (Thompson 343-346)

 

An effective culture inspires conducts, and job practices that align and support the strategy.

 

An effective culture supports the strategy in three ways:

 


 

1. A culture that supports strategy and its execution relies on employees and guides their

 

performance minimizing direct supervision.

 

2. Strong culture with shared values, can eliminate peer pressure and support the strategy

 

implementation effort. Good culture can influence employee conduct more effectively than

 

money incentives.

 


 

3. A culture that supports a good strategy execution can motivate employees to execute the

 

strategy effectively, and improve productivity. Employees will attach mentally to the company

 

and its goals. The employees will demonstrate passion for their jobs and execute the

 

strategy and performance targets. (Thompson 350)

 


 

A4a. Success or Failure

 

discussion of the role alignment plays in the success or failure of the business strategy

 

Healthy Cultures that Aid Good Strategy Execution

 

A strong culture, that aligns with the strategy and supports behaviors, and job procedures is an

 

effective culture. There are two types of cultures (High-performance and adaptive cultures) that

 

support a good strategy implementation:

 

High-Performance Cultures

 

Some businesses have high-performance cultures a ?willing? spirit, doing things right, no-excuses,

 

work ethic. There's a sense of being part of the company and an individual initiative. Problems are

 

quickly fixed. Senior executives and employees, will perform with a passion for success. The

 

essence of accomplishment and responsibility to meet goals is important to good strategy execution.

 

Creating high-performance culture inspires allegiance and commitment on employees. They put their

 

best efforts. Managers reinforce productive performance rewarding high scores enforcing high

 

productivity and good results. The managers learn the strengths and weaknesses of the employees,

 

to align talent with task. There is a methodical approach to manage the business.

 

Adaptive Cultures

 

The highlight of adaptive corporate cultures is management disposition to change and the task of

 

planning and executing innovative strategies. Business employees have a sense of assurance that

 

the business can confront threats and opportunities; they accept to take the risk of experimentation,

 

and changing strategies. The work environment supports managers and employees that initiate

 

change. It is encouraged and rewarded. Management supports employees with initiative to find

 

improvement. The company has a hands-on attitude in recognizing issues, evaluating options,

 

applying solutions. Strategies and practices are adjusted to take advantage changes in the business

 

field.

 


 

As the strategy changes, a flexible culture helps implementing the strategy.

 

Why is culture adaptable to strategy changes in, operational methods, and strategy implementation?

 

There are two leading qualities of a flexible culture:

 

(1) modifications in methods and actions cannot forget core values and business principles.

 

(2) the changes should fulfil the interests of stakeholders and the local law. the employees recognize

 

the changes that management is introducing as reasonable, and beneficial.

 

Facebook, Google, and Intel react quickly to innovation, and to create new products. They hire

 

people, who support change, adapt well to new situations.

 

In fast pace business situations, a flexible corporate culture is important. Flexible cultures are an

 

advantage to all types of companies. All markets experience changes requiring management action.

 

The factor that differentiates effective culture-change work from failed attempts is capable

 

management.

 

Good control is necessary to exert cultural change and eliminate resistance. Good influential power

 

is possessed by senior executives, and the CEO. The support for a new culture introduction and

 

desired cultural conducts must come from middle managers and team supervisors. They implement

 

new work practices, facilitating acceptance and support for changes, and introducing the desired

 

behavioral guidelines.

 


 

1-Fixing a problem culture requires management to detect elements of the culture that prevent

 

completion of new strategic applications and meeting goals.

 

2-Managers should describe new actions and attributes of the culture.

 

3- Managers teach employees why the existing culture causes problems and why new changes will

 

improve business performance.

 

4- Transforming the current culture requires visible activities to stimulate the anticipated new

 

conducts and work activities. (Thompson 354-355)

 

Justifying a major transformation of the corporate culture is by persuading employees to acquire

 

new-style behaviors and work practices. Employees should enthusiastically do it by:

 


 


 


 

Explaining why the current culture carries impediments to effective strategy execution.

 


 


 


 

Explaining how new culture will produce better results. Great leaders tell stories to define the

 

new cultural guidelines and attach them to everyday chores.

 


 


 


 

Mentioning motives why the new changes are applied. Strategy may cause that cultural

 

change. Explaining why the new strategic advantages will strengthen the business's

 

competitiveness and performance. (Thompson 355-356)

 


 

Company culture is a set of principles and conducts that govern employees and management, also

 

the handling of external business dealings. Frequently, corporate culture is implicit.

 

Characteristics of Successful Corporate Cultures

 

A company?s vision is an effective instrument. For example, a slogan: ?Do good? is a persuasive

 

corporate vision. "values," represent the attitudes and standpoints required to accomplish a

 

company?s vision. (Investopedia)

 

CONNECTING STRATEGY VISION AND MISSION

 

Management communicates the strategy implementation works towards their vision and mission of

 

the business. Employees and managers will see their work connect and every part of the strategy is

 

part of the whole vision.

 

EMPLOYEE COMMITMENT

 

Express the strategy in methods that relate to every department in the business. It will make them

 

create their own feelings of ownership. The employees will appreciate the strategy process and

 

create a significant relation of their jobs and the strategy.

 

HISTORICAL EXAMPLES USED TO INFLUENCE EMPLOYEES

 

Humans might not remember everyday life but eventful situations create impressions. Use examples

 

to present the significance of the strategy including mistakes and successful events.

 

These stories are a strong inspiration on culture-building performance to reach strategic objectives.

 

SOCIAL MEDIA IS A DEVICE TO CONNECT WITH EMPLOYEES

 


 

People communicate electronically. Social media, cellphone apps are used to engaged with the

 

employees. A strategy to be effective needs a reliable feedback by using emails or internal blogs.

 

BE AN EXAMPLE

 

Management motivate workers by showing they care when executing the strategy and the resources

 

are available. The team leaders have a specific role for them to inspire their team and management.

 

They reward teams that bring clever solutions and constructive transformation.

 

CREATE COOPERATION BETWEEN THE DEPARTMENTS

 

Firms might fail when executing a strategy if they don?t work closely with the supervisors. Strategy

 

implementation needs a master plan, not separate projects performed throughout the organization.

 

Have a strategy team that includes workers from all departments (Marketing, Finance...

 

Paper#9210792 | Written in 27-Jul-2016

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