Strategic Management – Page 2 – Business Frontiers

Once A Leader, Always A Leader

The automotive industry has undergone many profound changes yet when you will see its basic structure is still the same as it was hundreds of years ago. The automakers are the main players and have the most power in the automotive industry’s production chain. Companies are trying to come out as a market leader through technologies and new development models. But now these factors are getting outdated to determine who will be a leader because if you will see a normal car it contains around 2500 to 3000 normal hardware and millions of programs.

On and Off the Ramp

In 2008 5 million jobs in Canada requiring post secondary education went unfilled. This show there is a strong business case for ramping up placement efforts to get more women back into the workforce. A 2016 survey of RIT found that 27% of women and 38% of those already married, plan to interrupt their career to care for family. We need to examine why women today are finding it hard to re-enter the workforce and on ramp.

Pace of Change: Productivity Paradox

Productivity has often been cited as a key factor in industrial performance and actions to increase it are said to improve profitability and the wage earning capacity of employees. But the mode we are choosing to perform our job is not working anymore. Productivity paradox refers to slowdown in productivity in the US in 1970s and 1980s despite rapid development in information technology. A 2010 survey at St. Petersburg, of approx 50000 employees, found that only 19% felt fully motivated at work and approx 53% field is disconnected. And this has a negative implication of productivity. Company with a high number of employees engagement shows 30% higher productivity than those with less motivated employees.

Desperation is good, but not always in business

During the season end sale, the company offers gift cards to their customers who make any purchase from its shops and play simple quizzes. Customer who didn’t make the first attempt was ready to pay 53% more to win a card from the customer who had not. However only 20% of customers failed to keep the card instead of selling it. Customers who were not denied to play, 60% of customers kept willing to keep it. This study shows more you obstruct customers from having access in something there is a high chance that they will not keep it later.

How Would You Measure Success?

Ever thought why CEOs are so much concerned about the stock market and its value. It is because they are evaluated and judged on the basis of stock price. CEO’s pay scale and their compensation plan depends on their five years successful strategy. It has been assumed that incentives alone in the form of money motivates than. They can even get motivated through recognition and praise. Then why are they judged on the basis of stock value? CEOs have enough money they need. CEO’s are more concerned about stock value because this is how we measure them.

Lead a Startup to Success

INTRODUCTION

On the road to success there is absolutely no room for criticism of self or others. Finding faults in others wastes time as we attempt to remove potholes from other people’s path. Being a kid of a medical family it is a dream to work with high profile people in multinational companies. Several ignominious factors like feeling less worthy of yourself, doubting yourself, desire to become, better version of yourself and focus on hard work is something worth saving for victory.

Dispute Mitigation in Companies

To manage new growth, companies always look for new innovation teams. What does this innovation team do? Do they perform brainstorming? Or do they perform creative thinking the whole day? Most of the boards of directors feel the need of a separate and highly isolated team to perform high thinking skills activity. They are like a search engine of the company i.e., unit responsible for long term and sustainable growth in the company. Most of the innovation is practiced over a company’s existing resources whether it is custom, experts or manufacturing unit. So it is a highly futile concept that the innovation team works in isolation. Isolation will create only baseless use of resources and travel processes.

How Top Level Executives Implement Strategy Execution?

Johnson & Johnson servants its company to get insight about the strategy and execution plan of the company from its employees. The top 4 survey findings are:

1. The biggest challenge was to make strategy meaningful to staff.

2. Many employees are even aware of their firm’s strategy.

3. Strategy development is still mostly a top-down process.

4. People who are involved in developing the strategy are more likely to be bought in.

Adopting the Right Methodology for Job Execution

While performing any process, standard skills and resources are required. It might be possible that whatever you need, you may not get inside your firm. And this is the time when firms turn towards M&A alliance and licensing agreements. However, from the last 20 year study has shown that out of 162 multimedia companies only 49 are actively using the resources that are available, rest are relying on developing resources in house. When they were asked why they do so? Their simple answer was that they find fault in their strategy or lack skilled manpower. Instead of looking into new opportunities, blaming your strategy leaves a lot of scope to grow. According to Bloomberg limited only 26% companies forces on M&A and 36% on alliance and 12% still stick to their in-house preparation. While deciding whether to develop a new contract or going with existing internal resources one can ask 3 portions to themselves.

Leveraging the Degree of Business Management

H Byrkjeflotin his June 2008 edition wrote that any occupation earns professionalism when it is imbibe with some ideologies like being good counsellor, performing greater deeds, and doing no harm. Jonathan Gosling further stated his point arguing that there is a misunderstanding in between management and other professions like medicines and law. According to Jonathan, management is more about integrated skills, there is no specific curriculum that needs to be adhered to. Learning management means broader experience and replicating it through several projects. Also management doesn’t have a clear code of ethics like other professions and ethics vary from country to country and even from one organisation to another.