Category: Business Management

Strategy Formulation

Strategy Formulation

Strategy Formulation

PART 1 ATTACHED

Purpose of Assignment
The Week 4 individual assignment is the second part of a three part strategic management plan for the company selected by the student in Week 3. The purpose of the
assignment is for students to establish long-term goals and objectives; indicate, specify and discuss strategies; and investigate, consider and describe specific
business strategies including vertical integration and strategic alliances, to achieve competitive advantage in the industry. The student also generates an appropriate
organizational chart in alignment with the stated strategies.
Weeks 3, 4, and 5 Individual Assignments are integrated to generate a Strategic Management Plan. This is Part 2 of the three part Strategic Management Plan.
Assignment Steps
Write a 1,050-word report on the company you selected in Week 3, following up on the Individual Assignment of Week 3 (Environmental Scanning), and address the
following:
Establish Long-term Goals and Objectives
Strategy Formulation.
Indicate the markets that the company will pursue.
Specify the unique value the company will offer in the selected markets.
Discuss the resources and capabilities that are required.
Analyze how the company will capture value and sustain competitive advantage over time.
Business Management Strategy
Consider Cost and Differentiation Advantages.
Describe the Corporate Strategy.
Investigate Vertical Integration.
Describe Strategic Alliances.
Detail the Company Competitive Advantage.
Generate an Organizational Chart of the company you selected.
Cite at least 3 scholarly references.
Format your paper consistent with APA guidelines.

Strategic Management Plan
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MGT 498
March 12, 2017
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Strategic Management Plan
An environmental scan is a process that systematically surveys and interprets data to identify opportunities and threats. It enables an organization to gather
information about self, its competitors, and the external world. The organizations then alter its strategies and plans if the need arises. Coca-Cola Company is
familiar since it has been operational for a long while, the nineteenth century. Environmental scanning is conducted in several steps. First, information about the
world where in this case, coca cola operates, is gathered. For instance, the economy, the government, political and demographic factors. Then, the organization should
focus on its competitors, the current trends, opportunities, and threats. The last step is internally scanning the organization; its strengths and weakness (Hill &
Jones, 2010).
Coca-Cola is a company established in many nations across the world. It, therefore, earns income in many foreign countries which have different income and cooperation
tax. An increase in such taxes affects the company’s finances negatively since the income would be lower. Also, fluctuating exchange rates could result in losses when
trading in foreign countries. With the current population, people are getting to embrace and practice healthy lifestyles due to the increased knowledge of nutrition.
Thus, people prefer snacks with less sugar and fat content. With coca cola being a beverage company, its products, therefore, have to be in line with the customers’
preferences.
Environmentally, coca cola has challenges with its packaging of using more sustainable and environmentally friendly products. Coca cola’s cans and bottles always state
if they are recyclable and how they should be disposed of correctly. The world is becoming digital with all the technological advancements. Therefore, coca cola should
try and tap into this field, or rather, embrace it and use it to their advantage. Coca-Cola has tried and managed to come up with an app that enables the user to
create a can with a message on it and send it. This is an exciting way of communicating with friends through the brand. Hence, it also promotes the brand.
Coca-Cola invests a lot on their customers by promoting their brand since they believe that sustainable growth of the company can only be achieved through a
relationship with the customers which later translate to sales (Ireland, Hoskisson, & Hitt, 2008). The company also has strong ethics. They help its employees develop
skills and move them further into their career goals. Its suppliers should prove to be sound, ethical and sustainable to ensure that the products don’t run short and
the customers can access what they want and whenever. Coca-Cola is assumed to be monopolistic. However, it faces competition from Pepsi which has their brand all over
the world and has also witnessed a growth net in their revenue.
Coca-Cola has been the leading soft drink company since the nineteenth century up to date. Customers, therefore, trust the brand. Their competitive advantage can be
attributed to their secret recipe which arguably tastes better and the company’s ability to come up with new products and enhance the old ones. Currently, coca cola
offers over four hundred brands hence enabling the consumer to choose one that’s suitable for him in regards to health and preference. Coca-Cola has one of the most
comprehensive distribution system, which has made its products accessible to billions of people worldwide. Also, incorporation of technological advancements to their
production has cut the production cost by a huge percentage hence resulting in high-profit margins.
As stated earlier, coca cola stays vigilant with the updated technology since it translates to automation which cuts down on human labor hence saving costs that
could’ve been incurred (Labitan, 2012). Technology also reduces the production costs which in turn increases the profit margin. Another strategy of gaining a
competitive edge, coca cola aims at producing different drinks by modifying its ingredients slightly. They can also increase the quality of their products and charge
slightly higher prices to cover additional costs of production due to the changes. This increases the company’s chance of winning customers confidence.
The company also aims at rebranding their products, its cans, bottles and their labels. This is set to realize more sales. Also, consumers with special needs such as
the obese and the diabetic people, the company aims at innovating products that satisfy their needs, such as low sugar and fat content. Another strategy is reducing
the price of its products. This can be achieved by minimizing production costs. Hence, the products can be sold at a low price which is equal or close to the market
price. Moreover, coca cola aims at investing resources in promoting its brand and products through advertising, sales promotions and public relations. This is done
through the media such as the televisions, radios, and billboards, not also forgetting the social media. It is done to urge the customers to try a new product or buy
more of an old product.
To examine the effectiveness of the above strategies, measurement guidelines are set so as to have a performance scorecard. One of the guideline set is measuring the
ratio of input to output. This determines productivity and cost effectiveness. It is known as efficiency measures, and an example is comparing the cost of a batch of
resources used to produce a soft drink and the returns of that specific batch. With strategies in place, goals are set, for instance, having a certain amount of
turnover annually. Outcome measures see to it that these goals are achieved. Coca-Cola also aims at producing quality products. Quality measures show improvement in
compliance, accuracy, and competence. An example includes an audit conducted that are within a range of accuracy.
Project measures are used to measure any progress in an initiative that has a terminus. For instance, if coca cola has launched a new product and to gauge the
consumer’s response, they only produce and sell a particular amount of the product. To determine the customers’ response to the product, the percentage of the already
sold product is used in comparison with the time it sold. Also, the addition of new customers is a measure of the company’s effectiveness. This could be evident with
an increase in the number of suppliers or increased demand in department stores and shops.
The efficiency measures enable the company to note any variations that may occur within the production of the product and its sales. As a result, the company can
combat these changes before they cause adverse effects in the company. Its findings are recorded and are later analyzed. These data can be used in the future in making
informed decisions or formulating strategies. The ratio of output to input enables the company to gauge its efficiency and its financial status. This is because, if
the input cost is more than the output, then the company is running losses. However, if the output is more than the input, then the company is incurring profits, and
hence, the company should aim at sustaining it that way.
Furthermore, the progressive measures keep the company’s activities in check so that its strengths and weaknesses are noted. The information obtained helps the company
in innovating ways of combating the weaknesses and maintaining its strengths. Outcome measures findings gauge if the implementation of the strategies has enabled the
company to achieve its goals. In case some goals are not achieved, then the management has to formulate other strategies and plans that would help the organization
achieve its goals. Therefore, the measurement guidelines aids in determining the progress of the organization and any faults which need to be altered. In conclusion,
strategic management plan is an effective way of managing an organization since it pinpoints the organization’s faults which need to be corrected and any possible
opportunities that the organization can venture.

References
Hill, C. & Jones, G. (2010). Strategic management theory: an integrated approach. Boston, MA: Houghton Mifflin.
Ireland, R., Hoskisson, R. & Hitt, M. (2008). Understanding business strategy: concepts and cases. Mason, OH: South-Western Cengage Learning.
Labitan, B. (2012). Moats: the competitive advantages of Buffett & Munger businesses. United States: Lulu.com.

Describe situations and organizational variables that impact employee morale.

Describe situations and organizational variables that impact employee morale.

5?7 slides with speaker notes of 200?250 words per slide (excluding Title and Reference slides)

Employee morale is an essential component of a high-performing organization. Employees who are not happy with the work environment become, at best, distracted and, at worst, destructive to productivity.
Prepare a PowerPoint presentation that addresses the following elements surrounding employee morale and its effects on the workplace:
Describe situations and organizational variables that impact employee morale.
Explain, using examples, the impact of individual perception on morale.
Discuss how employee empowerment and decision-making autonomy impact morale.
Develop recommendations for initiative that organizations can implement to positively affect employee morale.

Sample Paper

Employee morale can be defined as the individual and group attitude or mental condition determining the willingness to work and co-operate to achieve the objectives of particular organization (Martinez, 2020) .Good employee morale is marked by enthusiasm while poor employee morale is marked by insubordination, discouragement and surliness. According to research, morale has a positive correlation with productivity in that, an enthusiast team or individual will achieve higher performance standards (Martinez, 2020). Conversely, employee morale may be affected by various situations and organizational variables which affect productivity and performance.

First, employee morale is affected by the organization’s public reputation which influences the attitudes of employees towards their jobs. Furthermore, the nature of work also affects employee morale (Martinez, 2020). Worker’s expected to perform specialized and routine-based jobs may feel bored due to repetition of the same tasks. Large Impersonal organizational structure also affects employee morale in that, employees may not feel special or appreciated enough hence a low morale (Martinez, 2020). A lack of understanding towards organizational goals and assembly line operations which move at a constant speed affect employee morale. The level of supervision influences employee morale in that, some amount of freedom and effective leadership skills boosts employee morale and vice versa. Another important factor affecting employee morale is the level of satisfaction derived from a job (Martinez, 2020). High employee morale is as a result of job factors such as promotions, steady employment, job security, learning opportunities, salaries and compensation, recognition and co-worker relationships and cooperation.

Secondly, individual perception towards themselves and the reward system influences the level of morale. The concept of self-awareness influences the attitude of employees towards the organization’s environment and structure (Martinez, 2020). Employees with high self-confidence and good mental health tend to have a higher morale compared to employees with self- esteem issues (low self-esteem). Also, the perception of employees towards future opportunities and past rewards has a great impact on morale. For instance, employees tend to have a higher morale if they regard their rewards as satisfactory and fair. Moreover, if employees perceive future rewards as promising, attainable and satisfactory they will have a higher morale.

Thirdly, employee empowerment and decision making autonomy enables employees to carry out tasks in their own ways and encourages them to create their own methodologies in carrying out tasks. According to research, employee empowerment motivates employees hence boosting their morale (Martinez, 2020). When employees are trusted and empowered in creating systems helpful in problem solving, they become more motivated unlike when they are forced to follow stringent procedures. When organizations trust their employees, the employees are able to identify problems and find solutions thus solving the problems before they can even occur. When leaders empower employees in an organization, decision making becomes decentralized since it begins with the employees (Martinez, 2020). Thus employees are encouraged and offered the support they need. Also, employees’ accomplishments and successes are recognized and celebrated hence motivating teams and individuals.

Employee morale can be positively affected using various strategies and initiatives. First, to boost employee morale, organizations should provide supportive and reasonable management and leadership teams who will give fair and equal treatment to employees (Susan, 2019). Secondly, organizations should recognize employee accomplishments and celebrate them. This can be done through using social media platforms to praise employees who have performed exemplarily or excellently (Susan, 2019). Also, organizations should implement and incorporate effective communication skills into the work environment. There should be open and regular communication regarding issues important to employee welfare (Susan, 2019). Lastly, organizations should offer above industry compensation and benefits and give their employees the opportunities to develop their professional skills.
 
References
Martinez, P. (2020). Impact of Employee Morale and the Organizational Culture (Doctoral dissertation, Carlifornia State University, Northridge)
Susan, M. Heathfield. ( 2019).You can Boost Employee Morale. Retrived online at https://www.thebalancecareers.com/you-can-boost-employee-morale-1918107

Based on your readings and research of the above stated materials

Based on your readings and research of the above stated materials

Question
Enterprise Risk Management (ERM) is a relatively new concept. Chapters 3 and 4 include related discussion on the subject ERM.

Based on your readings and research of the above stated materials, and from a practical/pragmatic point of view, in your opinion;

1)Should the internal auditor assess operational and financial risk and/or be an integral part of the decision making process?

2)COSO ERM Cube stated; a) Risk assessment, and b) risk response. Elaborate on both subjects and identify the internal auditor’s role. What is/are the step(s) that the internal auditor must take to assess risk? Risk of what that the internal auditor should focus on first? Is it possible to predict and size/measure risk?

3)Should the business and the internal auditors focus be on preventing risk of financial and operational crises?

4)Is it possible for the internal auditor to detect risk at an early stage, and how?

Given the above stated questions you are required to search for the most appropriate/correct answersaddressing each point and express your own opinion. You must show adequate support of your research. Please note that your grade will be based on the depth of your research and the adequacy of the pros and cons that you will state in your input.

management essay

management essay

Unit VI Case Study

For this assignment, read the case study, “The 1920 Farrow’s Bank Failure: A Case of Managerial Hubris.”

Hollow, M. (2014). The 1920 Farrow’s bank failure: A case of managerial hubris? Journal of Management History, 20(2), 164-178.

Regulators evaluated Thomas Farrow as being inflicted by managerial hubris at the time of the bank’s collapse in 1920. With this scenario in mind, address the following questions, with thorough explanations and well-supported rationale.

1. How did corporate culture, leadership, power, and motivation affect Thomas’ level of managerial hubris?

2. Relate managerial hubris to ethical decision making and the overall impact on the business environment.

3. Explain the pressures associated with ethical decision making at Farrow’s Bank.
4. Do you think that if Farrow’s Bank had a truly ethical business culture, the level of managerial hubris would have been decreased? Could this have affected the final outcome of Farrow’s Bank? Explain your position.

Your response must be a minimum of three double-spaced pages. You are required to use at least one scholarly source in your response. All sources used must be referenced; paraphrased and quoted material must have accompanying in-text citations, and be cited per APA guidelines.

Hollow, M. (2014). The 1920 farrow’s bank failure: A case of managerial hubris? Journal of Management History, 20(2), 164-178. doi:http://dx.doi.org.libraryresources.columbiasouthern.edu/10.1108/JMH-11-2012-0071