Balanced Scorecard Organizations and upper-management often use a Strengths, Weaknesses, Opportunities, Threats, and Trends (SWOTT) analysis model to concentrate on the company’s competitive advantages, their possibilities, evaluate how to improve susceptibilities, and avoid coercion. Organizations depend on SWOTT analysis to remain successful in their industries. For a business to be successful and sustain their performance, the entity is obligated by their external environment to generate strategic objectives and constantly evaluate its vision and mission. Organizations must reflect on their mission and vision frequently to assess each for validity, consistency, and making sure the objectives are components useful to the desired vision. Businesses require a tool to measure the execution of objectives.
Affecting Change Paper Jenea M. Smith LDR 531 March 21, 2011 John Thompson Affecting Change Paper Leadership can be defined as the ability to encourage and persuade others to work towards achieving a goal. Leaders are individuals who are concerned with doing the right thing, and managers are individuals who are concerned with doing things right. Leaders of companies and organizations are often faced with challenges of motivating employees to adjust to cultural changes and organizational structural. In large companies or organizations, the efficiency of managers depends on the influence they have over their subordinates, as well as their peers and superiors. Smith and Falmouth is a mid-size tele-shopping and mail order network
If the company engages an operational product planning tactic interconnected with a vast quality progression that focuses on market needs and customer needs, the company will succeed with new products in the current market. A further quality procedure for BJB Manufacturing Company would be to make sure successful product proposals are generated through consultations through corporate management, and manufacturing groups. This is done because groups will have important product information that can help other group’s complete individual sections of the business plan. It is vital that each section of BJB Manufacturing Company comprehend the company intentions and product course so that the company can design product plans, merge quality procedures, and adhere to planned practices.
Management is required to set realistic goals for the company along with objectives. A plan of action will be set and requiring management to let others be aware of the policies that need to be followed. Is helps keep the companies managers aware of the finances and the future of the company’s finances to make the right decisions. Controlling is when the company must follow the original plans that have been set from the beginning. Organizing and directing is thinking of ideas and putting into effect.
The strategic plan will help provide better, more targeted service to its clients and will be more specific on how the company will go about achieving company goals. The strategic plan will help Riordan’s executives understand the company’s direction by reviewing past progress and making changes to improve and grow. The strategic plan is an organizational tool that will help keep Riordan on track to meet growth and financial objectives. Need for a Strategic Plan Successful businesses are effective at identifying opportunities for growth and ensuring every manager has the same goals. For Riordan to further strengthen their strategic plan, they can develop a financial model based on their income and cost assumptions they would anticipate under the plan (Mikrut, 2010).
Organizational cultures also can be created and maintained by the organizations managers, leaders or supervisors. Organizational culture is a common understanding shared among a group of individuals, and a certain type of behavioral patters within the organization that causes employees to interact in a certain manner with one another. Citigroup’s organizational culture has an effect on employee’s performance level, productivity, customer services, and behavior. The current organizational culture of Citigroup mainly has been determined by what has been working in the past for the organization to remain successful. With Citigroup’s organizational culture it has guided employees toward the behaviors and attitudes that have put the company at risk.
What roles do managers and leaders play in today’s environment? There is a direct connection between the way people view their managers and the way they perform. Strong leadership is imperative for shaping an organization into a force that serves as a sustainable business advantage (Kumle, 2006). On the other hand, management is the process of working with people and resources to accomplish organizational goals. Great managers do those thing both effectively and efficiently (Bateman and Snell, 2009).
Building an organization by grouping jobs into work units and allocating resources C. Identifying business functions and mobilizing leaders D. Being flexible and responsive towards customer needs and the competitive environment Correct! The correct answer is: D. A dynamic organization is, “flexible and adaptive, particularly in response to competitive threats and customer needs” (Bateman & Snell, 2011, p.16). 15. For today’s managers, the organizing function requires a higher focus on which of the following? A.
Human Resource Management Week 1 Assignment 1. Why do you think is it important for HR to be a strategic partner to the business? HR is an important strategic partner to any business, because it identifies the needs and future needs of the organizations that they are representing. HR is a direct connection to the employee, management and the organization ultimate goals. These ultimate goals are met by the basic functions of HR which are planning, organizing, leading, and controlling.
Why supervision and management of strategic plans is essential? Who should be in charge for supervising and managing strategic plans? Why? What are the drawbacks faced if fall short of supervising and managing the strategic plans? As an employee describe your role in the strategic planning process of an organization.