Illustrate the importance of utilizing value chain analysis in strategic decision-making, clearly justifying why an understanding of the value chain’s core elements is so important in management costs and gaining or sustaining competitive advantage. All organizations consist of activities and functions that are link together to deliver value of its customers. A firm value chain shows links between it functions, activities and business process. A firm’s value chain consist of two elements of activities Primary activities where the most of the value is created for the customers and Support activities where support is given to help the primary activities to be effective and efficiently executed. The value chain key factor is to manage cost; this can be achieved through an analysis of a strategic cost analysis.
SWOT Analysis SWOT analysis is a tool for marketers use to assess an organization’s strengths (S), weaknesses (W), opportunities (O), and threats (T). Strengths and weaknesses are internal factors that can influence an organization’s ability to satisfy its target markets. Opportunities and threats are external factors that presented by the external environment to the organization. When an organization matches internal strengths to external opportunities, it creates competitive advantages in meeting the needs of its customers. In addition, companies should also act to convert internal weaknesses into strengths and external threats into opportunities.
Power: The Structure of Conflict Chapter 4 of Wilmot and Hocker’s Interpersonal Conflict examines the role of power in conflict by addressing common perceptions about it, how it develops, and ultimately how to balance and use it constructively to solve problems. In regards to how we generally see power, it is something that we require to influence the way we lead our lives. We need power to speak for ourselves, to control what influences us, and also to protect ourselves from perceived harm. Differing views of power are both negative and positive, and are subject to the difference in one’s orientation towards it from another’s. Power is a fundamental concept in conflict theory that attributes three perceptions of power.
Power and Politics Question and Answer How does power and politics in organizations compare? Power and politics have several similarities. The largest similarity is found in their desire to sway others. Power is recognized as the ability to influence others to do what is needed, or to accomplish something in a particular way. This is typically accomplished through a combination of control and influence.
Hermes Fund Management Is it the role of institutional investors to influence the strategy of companies in which they invest? Institutional investors like mutual funds act in the interest of many smaller investors who are seeking low-risk investment. They have the right to influence strategy and to threaten to take their business elsewhere if they are not satisfied. Hermes is Britain’s most influential fund Manager’s company and has a critical and proactive role to play in the governance of companies. Hermes believed in successful stewardship involving using its vote in approving the board of directors.
This essay will focus on the concept of relationship marketing as the crucial aspect of Integrated Marketing Communications, and how today’s economic environment requires an exceptional connection between a brand and its consumer. Nike’s goals and methods provide a good example of how IMC works well when plans and preparations are executed in a consistent manner. The marketing concept is mainly about effectively managing markets in a complex economic environment. Marketing is used to gain a competitive advantage and engage in brand differentiation, those brands that are able to identify both the needs and wants of consumers as well as the evolving consumer environment, and then transfer this knowledge and provide value to the consumer in the best way will lead their brand to sales and success. The most important aspect of marketing is precisely the communication of value, which should describe clearly the difference between the value the customer gains from owing and using a product or service as well as the cost of obtaining it.
Introduction In an incorporated company, the interests of shareholders are often at odds with the interests of other stakeholders. When making a decision under such circumstances, I will show that the business should balance each group’s interests equitably in order to determine how to act, as a result of a duty owed to each group for their contributions to the company. I will also critique some popular arguments in favour of the commonly held belief that a business should act primarily in its shareholders’ interests. The two competing models The debate about whose interests businesses should act in is dominated by two theories: Shareholder Primacy, and the Stakeholder Model. Under the Stakeholder Model, to answer the question of whose interests
The OD practitioner needs both knowledge and skill in the arena of organisational power and politics. Warner Burke states “Organisation development signifies change, and for change to occur in an organisation, power must be exercised.” Organisations are made up of many different power elements; different interest groups, divisions with functional agendas, coalitions of special interests, the exercise of managerial power and various aspects of political behaviour exercised by individuals, teams and groups. OD examines power and politics from the perspectives of strategy of change, technology, values interventions and the role of the OD practitioner. With power so inherent in the make-up of an organisation it is important that the OD practitioner who is embarking on an OD programme understands what power exists, who holds the power and also the way in which power is used to influence the workings of the organisation. Power can be defined as the capacity to affect organisational outcomes.
Usually, the strategic decision will made by the firm's Masters and senior leaders from the perspective of the firm's business, the firms are facing internal and external conditions to determine the production. There are several elements of managerial decision-making such as decision-making body “it can be individual or Group”, market information, supply and demand conditions, decision-making theory and method, technology, government, international factors, and expectations about the results. Basically, managerial economic is about decision-making. It is what managers decide on the matters that make the atmosphere critical for the success of firms. In this light, it is important to stress that economic conditions truly affect the disadvantage that most firms may encounter as they carry on with the principles of economics and business.
Mediation also instills empowerment to the parties (Huerta, 2004). With this empowerment parties can decide the solution to the dispute and decide on the final agreement of the negotiation. Parties who can still determine the negotiations outcome with the intervention of a third party develop self-determination. This self-determination characteristic of empowerment often corresponds to higher desires of how individuals and businesses want to conduct business normally (Huerta, 2004). In order for mediation to be successful, the timing of the mediation must be