Term Paper on "Business Management and Business Policy"
Term Paper 6 pages (1740 words) Sources: 3 Style: APA
[EXCERPT] . . . .
Business Management and Business Policy1. Consider and discuss the role of strategy implementation. In your own
words, explain why the textbook authors referred to strategy
implementation as the point where "the rubber hits the road."
In every company there is an ongoing debate of which strategy to pursue in
each specific market of interest, including the execution of each strategy
components. Often there are many options on just which strategy is the
best possible one to move a company forward to its goals. The essence of
strategy implementation is in synchronizing the many departments and their
processes together to achieve a common objective. As simple as this
sounds, the extensive collaboration and coordination between departments
can be time-consuming and often requires intensive project management
skills. Many companies are particularly proud of their ability to execute
strategies and gain results, including the ability to define steps for
successful strategy implementation. The ability of a company to fulfill
their claims of strategy execution and implementation along with achieving
intended results is what the authors call "where the rubber hits the road".
The most challenging aspects of strategy implementation however are
reconciling potentially conflicting and even disconnected goals of
departments to achieve a common aim. Synchronizing all available
resources, departments, processes, products and people to achieve a common
objective is what best practices in
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From this standpoint you can see what the authors mean when they mention
that "the rubber meets the road" is where strategy and the many efforts to
synchronize and coordinate implementation meet.
2. Japanese corporations typically involve many more organizational levels
and people in development of implementation plans than do United States
corporations. Discuss how this affects the implementation process. Do
you consider this an advantage or a detriment to the success of the
implementation of strategy? Justify your answer.
Japanese corporations are by nature highly driven for the need for
consensus in all decision-making activities. This originates form their
cultural and social values, and it permeates Japanese corporations'
approach to decision-making. There is a familiar saying in Japan of "the
nail that sticks out gets nailed down" stressing the high level of
conformity that pervades that culture. The work of
Geert Hofstede (2006) illustrates this aspect of the Japanese culture
through his analysis of cultural dimensions. Visiting Hofstede's website
graphically illustrates the differences between the Japanese and U.S.
cultures for example. By western standards this seems extreme and often
time-consuming, adding days or weeks to the decision making process and the
implementation of strategies. Yet from within Japanese corporations, this
approach to consensus-building actually ensures a higher level of
synchronization and collaboration between and among departments. While the
implementation process is slower, when the actual strategies are
impelemtned they are done so with a much higher level of coordination than
would have been possible without the high amount of consensus building that
goes on. For strategic, long-range and fundamental decisions regarding
the direction of a company, this approach to consensus building is
exceptionally strong in ensuring collaboration and coordination across a
company. Where this practice becomes a detriment when decisions need to be
made quickly and agility needs to be achieved. In this instance the
consensus-building approach can be a liability. To generalize the value of
consensus-building across organizational departments and across levels,
it's clear that there is much value in collaboration and coordination.
Optimally there needs to be a balance however to ensure the strategic
issues get the depth of analysis and coordination at implementation
required while the shorter-term decisions get implemented quickly enough to
be relevant in rapidly changing markets.
3. One of the current managers of an SBU is capable, but does not appear to
have the skills and experiences necessary to implement a strategy that
is vital to the success of the firm. As CEO, discuss the options
available to you that could improve this manager-strategy fit. Which
option do you see as the most difficult to accomplish? Why?
In the instance where a manager of an SBU has excellent skills at managing
the business unit but lacks the specific skills to accomplish a specific
strategy, there are many approaches to resolving this problem. By far the
best approach is to recommend to the manager experts in the specific area
of strategy being implemented and offer to bring on a consultant or expert
as part of the persons' staff. It is critical to not replace the manager,
but provide them with expert-level resources to assist them in
accomplishing the strategy. In general when a manager doesn't have the
skill to implement a strategy the best approach is to surround them with
experts in their field. Another strategy is to create a cross-functional
team to complete the strategy implementation, as the tasks of
implementation may be bigger than a single manager should be tasked with.
The last and most difficult option is to replace the manager with someone
who can implement the strategy. Often this is the most rash and causes the
manager to eventually leave the company, as it is in effect a demotion.
Instead, when a manager is struggling to implement a strategy it is best to
surround them with experts and provide exceptionally high levels of support
to increase their chances of succeeding.
4. The text pointed out the importance of assessing the strategy-culture
compatibility, when implementing a new strategy. Do you feel that
culture follows strategy or does strategy follow culture? Justify your
answer.
The bottom line is that over time, they influence one another. In the
short-term, culture has a major impact on strategy and often acts as a
"filter" applied to any potential strategy. Included in the cultural
"filter" so to speak that is used within company cultures to evaluate
strategies include the time required to complete the implementation, the
extent of collaboration or coordination required, the relative level of
spending relative to other priorities, and the measurement of results.
Often cultures dictate the scope of strategies at their beginning, the
expectations of their performance while in progress, and the evaluation of
the results of strategies at the end. Schein (1983) has defined culture as
follows:
For an organizational culture to exist there must be a definable
organization in the sense of a number of people interacting with each other
for the purpose of accomplishing some goal in their defined environment.
The founder of an organization simultaneously creates such a group and, by
force of his or her personality, begins to shape the culture of that group.
But the culture of that new group is not there until the group has had its
own history of overcoming various crises of growth and survival, and has
worked out solutions for how to cope with its external problems of
adaptation and its internal problems of creating a workable set of
relationship rules.
As Schein (1983) notes, culture has a significant short-term impact on
strategies, in fact all activity in a organization. Over time, leadership
can change culture through more aggressive use of strategies, more
accountability over results, and a stronger focus on aligning strategies to
customer needs. To change culture however takes much time, much effort,
and much intensity on the part of a leader. Both the formal and informal
organization structures need to change to make culture significantly shift
over time. There are many examples of leaders changing the culture of a
company to make it more effective at executing its strategies. GE's Jack
Welch is a classic example of how a leader, working over time to create a
strong management team and culture focused on excellence of execution, can
significantly change a company's culture.
The bottom line is that in the short-run a culture will have a stronger
influence on strategy, yet in the long-run, strategy has a greater
potential to influence culture. This is especially the case with leaders
who bring their own priorities and in many cases, urgency for change to
occur.
5. Explain why goal displacement and short-run orientation are likely side
effects of the monitoring of performance. As CEO of a corporation, what
measures could you take to avoid these side effects? Is there a measure
that can totally eliminate either side effect? Why or why not?
There is a definite correlation between goal displacement and the
development of short-run orientations towards performance in many
companies. The tendency to do only the tasks that will have the greatest
possible impact on short-term performance begin to dominate much of the
strategies, tactics and decisions of companies that reward short-term
gains. There doesn't need to be a mutual exclusivity to the development of
short-term strategies at the expense of long-term gains; in fact many
companies attempt to combine each of them to attain higher levels of
efficiency and performance. The majority of companies however focus purely
on short-run results, often at the expense of patiently creating the
foundation for future long-term gains. The challenge for any CEO is to
create short-run objectives that over time contribute to long-term gains,
and in… READ MORE
Quoted Instructions for "Business Management and Business Policy" Assignment:
Your answer to each essay question should be complete and between 200 and 300 words.
1. Consider and discuss the role of strategy implementation. In your own words, explain why the textbook authors referred to strategy implementation as the point where "the rubber hits the road."
2. Japanese corporations typically involve many more organizational levels and people in development of implementation plans than do United States corporations. Discuss how this affects the implementation process. Do you consider this an advantage or a detriment to the success of the implementation of strategy? Justify your answer.
3. One of the current managers of an SBU is capable, but does not appear to have the skills and experiences necessary to implement a strategy that is vital to the success of the firm. As CEO, discuss the options available to you that could improve this manager-strategy fit. Which option do you see as the most difficult to accomplish? Why?
4. The text pointed out the importance of assessing the strategy-culture compatibility, when implementing a new strategy. Do you feel that culture follows strategy or does strategy follow culture? Justify your answer.
5. Explain why goal displacement and short-run orientation are likely side effects of the monitoring of performance. As CEO of a corporation, what measures could you take to avoid these side effects? Is there a measure that can totally eliminate either side effect? Why or why not?
6. It was pointed out, earlier in the text that technology within a given field or industry eventually reaches a point of diminishing returns, where increased efforts or expenditures result in only moderate improvements in product performance. As a member of management, analyze how your knowledge of technological discontinuity might help improve the performance of your corporation. Suggest steps that you might take to make significant product improvements.
7. As top management gears up to evaluate the corporation and its SBUs, offer substantive reasons for bothering with shareholder values or a stakeholder scorecard. Analyze why management would opt to use stakeholder core card or EVA, when it would be simpler to evaluate, using standard measures, such as ROI or earnings per share.
8. Offer justification that explains why the not-for-profit sector of the economy is important. Speculate how the "complexion" of this nation might change without not-for-profits
9. Client influence upon the actions of any organization is dependent upon the percentage of revenue contributed by the client. Do you believe that client influence is always weak in the not-for-profit organizations? Why or why not? Suggest creative ways clients might influence the actions of not-for-profits.
10. Speculate why the employment of a large number of people who consider themselves to be professionals can complicate the strategic management process in not-for-profit organizations. Explain how this can also occur in profit-making firms.
How to Reference "Business Management and Business Policy" Term Paper in a Bibliography
“Business Management and Business Policy.” A1-TermPaper.com, 2007, https://www.a1-termpaper.com/topics/essay/business-management-policy/8165145. Accessed 5 Oct 2024.
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