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Discussion Reflection
1. I think the concepts that were most interesting to me in this class were more the high level concepts like the Five Forces. These are the sorts of tools that I think can be relevant in any industry. They force you to think not just about what the company does, but how the business works. For example, you can be good at some aspect of the business, but a tool like Five Forces will help you to consider whether what you\\'re good at is what you actually need to be good at in order to succeed. As the literature on that tool in particular notes, it helps you to formulate strategy by giving you one of the most important starting points – knowing where profit comes from in your industry (MindTools, 2018). So things like that, and SWOT, may seem really simple but if you take the time to do the research and really think deeply about the company and its industry, you\\'ll get a lot of great insight by applying those tools.
One of the things I like about these basic tools is that they are essentially timeless. There have been studies that attempt to suggest that something in the environment changes...
To me, that\\'s failing to understand just how adaptable these frameworks actually are. Business is still about doing what you do better than other companies, and then earning profit from such activity. That has not really changed, which is why these models are powerful to me.
2. Most useful to me is just the idea of taking all these different pieces of information, and putting them together. The larger a company is, the more complex it is. It can be quite easy to become overwhelmed by this complexity. But becoming overwhelmed by complexity is a sure-fire way to end up with bad strategy. Neill and Rose (2006) make the case that complexity can create difficulties with execution throughout the organization. This is why I actually like the tools that simplify this complexity. You take in a lot of information if you want to do a SWOT or Five Forces properly, but at the end you actually have insights that can help guide both high-level strategy and the sort of lower-level implementation pieces at the same time. To me, that\\'s very useful as a…
As the combination of the different pieces, would allow three out of the four business segments to be able to see earning growth between 2007 and 2008, when the economy was severely contracting. (Exhibits 2009) Using appropriate theoretical frameworks evaluate alternative options to create growth? An alternative option that company could use to achieve growth would be: to acquire a weaker competitor. One way to do this is: to evaluate the
Management Course The field of management is one that has evolved over centuries and continues to transform to meet the needs of the ever-changing globalized world of business. I have long been interested in this arena of business and its powerful influence and strong importance to virtually every sector and industry. I hope to one day occupy a managerial position and use my knowledge and skills to improve the efficiency,
The SMCO site would serve as a portal bookmark and I might return to it if I needed to research a topic and needed to know at once a list of all the major business trade magazines, or if I needed to find multiple ways of checking company data on sources like ZDNet and Bloomberg Financial Market reports. I can see how the SMCO would be a helpful place to
Management There are a number of different definitions of management. The dictionary definition from Google is "the process of dealing with or controlling things or people." The Merriam-Webster definition adds that the process must be done "with a degree of skill." Management, therefore, is a professional discipline, one that can be studied, theorized about, and for which techniques can be developed and studied. Management literature generally agrees with this core, but elaborates.
Critically assess any additional logistics strategy approaches that could have been used to develop existing logistics capabilities. The company initially failed to adopt flexible strategic approaches to its logistical needs in its international operations based on longstanding corporate practices and an ingrained organizational culture. According to Canals, "Marks & Spencer's growth was based upon the values and policies that had served it so well for so many years. Its achievements were
This also includes making sure that bias is not an influence in the decision making process. Conclusion Change is often brought about by internal and external factors. The desired change in any organization cannot be brought about without implementing organizational change strategies. The entire process requires assessing, planning, implementing, benchmarking and keeping an eye on the goals and objectives of the organization. To bring about the preferred changes a strong, secure