The document discusses strategy implementation, focusing on staffing and directing. It defines staffing and directing, and distinguishes between the two. Staffing focuses on selecting and using employees, including hiring, firing, and training. Directing focuses on instructing, motivating, and leading employees. The success of implementing strategies depends on key components like people, resources, structure, systems, and culture. Staffing and directing employees appropriately is essential for successfully implementing strategies and achieving organizational goals.
1. Theoretical Assignment
Q#1. Strategy implementation : staffing and directing
Answer Strategy implementation is the process of turning plans into
action to reach a desired outcome. Essentially, it's the art of getting
stuff done. The success of every organization rests on its capacity to
implement decisions and execute key processes efficiently, effectively,
and consistently. Strategy Implementation refers to the execution of the
plans and strategies, so as to accomplish the long-term goals of the
organization. It converts the opted strategy into the moves and actions of
the organization to achieve the objectives. For example, strategic
implementation within a business context might involve developing and
then executing a new marketing plan to help increase sales of the
company's products to consumers. Implementation strategies can be
a single strategy (e.g. training), or a bundle of strategies to address
multiple implementation barriers (e.g. the use of both reminders and role
revisions), or blended strategies that are multiple strategies packaged and
branded for use (e.g. the Leadership and Organizational Change.
The five key components necessary to support implementation: people,
resources, structure, systems, and culture. All components must be in
place in order to move from creating the plan to activating the plan.
Strategic Implementation is needed for a company to successfully form and
execute the company business strategy. Strategic Implementation helps the
company thrive and bring in the necessary revenue to keep customers and bring
in new customers.
Staffing & Directing Staffing – 1. Hiring new people with new skills
2. Firing people w/ inappropriate skills
3. Training existing employees to learn new skills.
Recruit – Select – Train – Assess
Staffing is the process of filling job vacancies and retaining the recruited
employees. Directing is the process of instructing, motivating, guiding and
leading people to work to the best of their capabilities in order to achieve the
predetermined goals and objectives.
Distinguish Between the Following: Staffing and Directing
2. 2 Staffing Staffing focuses on the selection and use of employees. Staffing
focuses on the selection and use of employees. Implementation of new
strategies often call for new human resource management priorities and a
different use of personnel. Implementation of new strategies often call for new
human resource management priorities and a different use of personnel. Some
staffing issues include: Some staffing issues include: –Hiring new people with
new skills –Firing people with inappropriate or substandard skills –Training
existing employees to learn new skills
3 If growth strategy implemented :If growth strategy implemented: –New
people need to be hired and trained –Experienced people with necessary skills
need to be found for newly created managerial positions –If growth strategy
thru acquisition, may need to replace several managers in the acquired company
–May need to appoint an integration manager to shepherd the company through
the acquisition or merger so as to avoid losing highly skilled people who are
difficult to replace in the process 3
4 If retrenchment strategy implemented: If retrenchment strategy implemented:
–Large number of people may need to be laid off –Management needs to
specify the criteria to be used in making these personnel decisions – Sometimes
corporations find it easier to close or sell off an entire division than to choose
which individuals to fire
Changing Hiring and Training Requirements Having formulated new strategy, a
corporation may find it needs to hire different people or train current employees
to implement new strategy. Having formulated new strategy, a corporation may
find it needs to hire different people or train current employees to implement
new strategy. One way to implement a company’s business strategy such as
overall low cost or for a differentiation strategy emphasizing quality or
customer service One way to implement a company’s business strategy such as
overall low cost or for a differentiation strategy emphasizing quality or
customer service Training also important during retrenchment strategy –
successful downsizing means that company has to invest in its remaining
employees.Training also important during retrenchment strategy – successful
downsizing means that company has to invest in its remaining employees.
Q#2 Globalization of business, International environment,
international entry strategies
3. Answer: The official definition of “globalization” is the process by which
businesses or other organizations develop international influence or start
operating on an international scale. More simply, globalization refers to an
open flow of information, technology, and goods among countries and
consumers. Globalization has enabled firms to specialize – and to increase the
intensity of R&D, innovation and capital in their output. Globalization has made
it easier for new companies to start competing with old incumbents. The trade
sector has increased the number of people that it employs, both through exports
and imports. Globalization is the increase in the flow of goods, services,
capital, people, and ideas across international boundaries, according to the
online course Global Business.
Advantages of Globalization:-
Economic Growth. It's widely believed that increased globalization leads
to greater economic growth for all parties.
Increased Global Cooperation.
Increased Cross-Border Investment.
Increased Competition. ...
Disproportionate Growth.
Environmental Concerns.
Managing a business in a foreign country requires managers to deal with a large
variety of cultural and environmental differences. ... As a result, international
managers must continually monitor the political, legal, sociocultural, economic,
and technological environments. The International business environment
includes various factors like social, political, regulatory, cultural, legal and
technologicalfactorsthat surround a business entity in various sovereign
nations. There are exogenous factors relative to the home environment of the
organization in the international environment. International business
environment has many positive aspects in spite of various issues, such as it
contributes new technology, infrastructure development, managerial skills,
creating jobs, providing better services, and bringing in investment capital from
other countries by exporting products. Itunites the country making the world a
big global village. It increases employment opportunity as it results in the
exchange of ideas, information, service, and capital across borders. There is
equal growth in terms of wealth, price stability, availabilities of goods and
services to each and every one. Human and environmental impacts of the
problems transcend the borders of any one country. Impacts of such problems
as acid precipitation, ozone depletion and air pollution are not felt at only
4. within countries where the problems are often created. The international
environment is the interaction between (1) the domestic environmental forces
and the foreign environmental forces and (2) the foreign environmental forces
of one country and those of another country.
Types of International Business Environment
Imports and Exports.
Licensing: Franchising.
Outsourcing and Offshoring.
Joint Ventures and Strategic Partnerships.
Multinational Companies.
Foreign Direct Investment.
Market entry strategy is a planned distribution and delivery method of goods
or services to a new target market. In the import and export of services, it
refers to the creation, establishment, and management of contracts in a foreign
country.
There are several market entry methods that can be used.
Exporting. Exporting is the direct sale of goods and / or services in
another country
Licensing. Licensing allows another company in your target country to
use your property.
Franchising.
Joint venture.
Foreign direct investment.
Wholly owned subsidiary.
Piggybacking.
Q#3 . Discuss total quality management, Balanced scorecard and
kaizen and explain their strategic implication
Answer: Total quality management (TQM) is the continual process of
detecting and reducing or eliminating errors in manufacturing,
streamlining supply chain management, improving the customer experience,
and ensuring that employees are up to speed with training. TQM Example: One
of the most famous examples of total quality management is Toyota. Toyota
implemented Kanban System to make its assembly line more efficient. The
company decided to keep just enough inventories to fulfill customer orders as
they were generated. TQM provides the quality assurance thatcustomers will
get what they expect, as well as a process for managing unsatisfied customers,
make needed corrections and prevent similar reoccurrences. If your business
5. doesn't have a clear path to creating satisfied customers, then it can benefit from
TQM.
Main principles of TQM are as follows:
(i) Quality can and must be managed.
(ii) Everyone has a customer and is a supplier.
(iii) Processes, notpeople are the problem. (iv) Every employee is responsible
for quality.
Steps to Implementing a Total Quality Management System
1. Clarify Vision, Mission, and Values.
2. Identify Critical Success Factors (CSF) .
3. Develop Measures and Metrics to Track CSF Data.
4. Identify Key Customer Groups.
5. Solicit Customer Feedback.
6. Develop A Survey Tool.
7. Survey Each Customer Group.
8. Develop An Improvement Plan.
A balanced scorecard is a strategic management performance metric that
helps companies identify and improve their internal operations to help
their external outcomes. It measures past performance data and provides
organizations with feedback on how to make better decisions in the future.
The heart of the balanced scorecard is a framework of four major categories or
perspectives for strategy implementation – financial, customer, internal
business, and innovation and learning: The scorecard focuses on customer
concerns primarily in four categories: time, quality, performance and service,
and cost. The BSC is a tool that links strategies to organization goals.
According to Ali-Rahimi (2013), balanced scorecard provides a mechanism to
align the activities and processesofdifferent groups with long term goals of
the organization. He combined the EFQM and BSC models to improve the
performance of the organization. The balanced scorecard has evolved from its
early use as a simple performance measurement framework to a full strategic
planning and management system. ... It provides feedback around both the
internal business processes and external outcomes in order to continuously
improve strategic performance and results. Therefore, an example of Balanced
Scorecard description can be defined as follows: A tool for monitoring the
strategic decisions taken by the company based on indicators previously
established and that should permeate through at least four aspects – financial,
6. customer, internal processes and learning & growth. Balanced scorecard model
is a method to evaluate and control programs with adequate consistency.
According to it, a certain organization is evaluated and controlled in terms of
financial aspect, together with growth and learning, internal business processes
and customer aspects. This research is practical in purpose and a descriptive
inferential method has been used to collect data in addition to utilizing five-
scale Likert questionnaire. In order to increase the accuracy of the study, all 320
employees of post company have been under evaluation. A one-sample t-test
has been used to analyze the questions of the study. Furthermore, Friedman test
has been used to investigate the differences among groups. The results of testing
the hypotheses indicate the effect of growth and learning of the employees of
post company, as well as internal business processes, customer and financial
aspects on the performance of the post company. Moreover, Friedman test
probing the differences among groups shows that internal business processes
and customer variables have the most significant impact upon the performance
of the post company, while growth and learning and financial aspects have the
least significant effect on the performance of the post company.
Q#4 . Mission and vision: what do we want to become and what is
our business
A Mission Statement defines the company's business, its objectives and its
approach to reach those objectives. A Vision Statement describes the
desired future position of the company. Elements of Mission and Vision
Statements are often combined to provide a statement of the company's
purposes, goals and values. The first is a statement of vision. It provides a
destination for the organization. Next is a statement of mission. ... These are
critical statements for the organization and the individuals who run the
organization. Mission: We strive to offer our customers the lowest
possible prices, the best available selection, and the utmost convenience.
Vision: To be Earth's most customer-centric company, where customers can
find and discover anything they might want to buy online.
Definition of vision and mission: A vision statement focuses on
tomorrow and what an organization wants to ultimately become. A
mission statement focuses on today and what an organization does to
achieve it. Both are vital in directing goals. The vision statement focuses
on tomorrow and what the organization wants to become. The mission
statement focuses on today and what the organization does. While
7. companies commonly use mission and vision statements interchangeably,
it’s important to have both. One doesn’t work without the other, because
having purpose and meaning are critical for any business. Your mission
statement drives the company. It is what you do/the core of the business,
and from it come the objectives and finally, what it takes to reach those
objectives. It also shapes your company’s culture.
Mission statement questions look like:
What do we do?
Whom do we serve?
How do we serve them?
Your vision statement gives the company direction. It is the future of
the business, which then provides the purpose.
The vision statement is about what you want to become. It’s aspirational.
Vision statement questions look like:
What are our hopes and dreams?
What problem are we solving for the greater good?
Who and what are we inspiring to change?
The vision statement promotes growth, both internally and externally. A strong
vision helps teams focus on what matters the most for their company. It also
invites innovation. A purpose-driven company envisions success as a whole,
because they know what success means for their company.
A mission statement is a concise explanation of the organization's reason
for existence. It describes the organization's purpose and its overall intention.
The mission statement supports the vision and serves to communicate purpose
and direction to employees, customers, vendors and other stakeholders. See
SHRM's Company Mission Statement Examples for a variety of samples.
Questions to consider when drafting mission statements could include:
What is our organization's purpose?
Why does our organization exist?
A vision statement looks forward and creates a mental image of the ideal
state that the organization wishes to achieve. It is inspirational and aspirational
and should challenge employees. Questions to consider when drafting vision
statements might include:
What problem are we seeking to solve?
Where are we headed?
8. If we achieved all strategic goals, what would we look like 10 years from
now?
List the process of developing vision and mission statements
7 Steps to Writing a Vision and Mission
Gather Board Level Leadership. If you don't have a formal board, pull together
an advisory team.
Identify an Objective Facilitator.
Dream As a Group.
Share Ideas.
Examine the Statement.
Clarify the Mission.