Chapter 1: How does strategic management typically evolve in a corporation?
Management strategy is linked closely to answer the following three key questions:
Ø What is the goal of the company’s business?
Ø What are the most effective way to achieve that goal?
Ø What resources will be needed during the implementation of business tasks?
The first question you ask in thinking seriously about the ultimate goals for your company. What are you trying to achieve that goal? You’re trying to optimize or fix something? What are the most reasonable results that your company can expect?
What is a learning organization?
By definition of sociology. Organizational learning is purposeful action, with coordination and planning of man to a common purpose. This common goals can be visible or not visible. The purpose is done by members of the organization and is defined by the rules of the organization.
Is this approach to strategic management better than the more traditional top-down approach?
Companies need to learn more than ever as they face growing challenges. Each company must become a learning organization. This concept is no longer a new concept. It was developed in the 90s of last century, and was initiated from the book “Principles of Thursday” (the fifth discipline) of the author Peter M. Senge, as is mentioned in numerous publications, seminars and other online sites.
When is the planning mode of strategic decision making superior to the entrepreneurial and adaptive modes?
When the plan has been studied very carefully about the real situation in the target company and the company’s development in the future.
Chapter 2: What is the relationship between corporate governance and social responsibility?
In the context of globalization, businesses are always interested in the social environment at work producing their own business. Today, the worldwide trend is that people more and more attention to these factors encourage enterprises shall treat, especially the responsibility of improving the social, environmental and ethical and cultural of the enterprise. Foreign investors (purchasers) are usually interested in the fundamentals such as macroeconomic, governance and the country’s prestige on the enterprise market with their high standards. Since then, the implementation of social responsibility of enterprises with market dynamics on the basis of improving labor standards can bring economic benefits, the harmonious balance between economic objectives and social and as It will improve your brand. As for the vendor (seller) benefits in the implementation of social responsibility is to maintain contracts or attract more new contracts.
However, important issues raised in this paper need to correctly understand and agree how the social responsibility of business. For our country, this is a relatively new concept and in practice it is very easy to misunderstand the concept of social responsibility in terms of “tradition.” Ie enterprises to implement social responsibility as an active participate in solving social problems humanitarian and charity.
Chapter 3: According to Porter, what factors determine the level of competitive intensity in an industry?
The assessment of economic competitiveness is according to the indicators of the level of industry concentration, and the rate of concentration (Concentration ration – CR) is one of the indicators must be mentioned first. This index is said by 4 percent market share in its largest holding. There is also a CR index of market rates by 8, 25 and 50 leading companies control. The higher index indicates the level of concentration of market share in the largest firms of larger, means that industry has a high level of concentration. If only some firms hold the majority market share, the sector will be less competitive (closer to the exclusive right to sell). Low concentration ratio shows that there are many industry competitors, including competitors don’t have significant market share. The market consists of many “puzzle pieces” are being competitive. However, the concentration ratio is not only unique, because the definition of industry trends is far more informative than the distribution of market share.
If the level of competition between firms in an industry low, then that sector is considered to be “disciplined.” This discipline may result from competition in history, the role of its head, or the compliance with common ethical standards. The collusion between companies is generally illegal. In industries with low levels of competition, the competitive dynamics certainly a limited unofficially. However, a company agrees to comply with laws that seek competitive advantage can undermine the market “disciplined” them.
Chapter 4: How can value chain analysis help identify a company’s strengths and weaknesses?
There are many things to consider in the analysis of the elements inside. This chapter will address three of the areas most important to a company’s assessment: the core competence, financial condition, management and culture, and also presents an evaluation method that you can use. The most important of which are core competencies.
Core competence is the foundation for any new strategy or strategic adjustment. The term core competence only to the professional expertise or skills in the company’s main areas directly provide high performance. For example, one of Sony’s core competence have the ability to combine microelectronics with innovative designs in a variety of useful consumer products. For many years, Corning has created successful product line, from disk Pyrex heat oven to use in the television lights or fiber optics from the core competencies related to the material glass and ceramics … One of Bechtel’s core competency is projecting management skills scale. Whether it is a project to build a new airport for the capital of Peru, or a petrochemical complex in the province of Jiang Dong, China, Bechtel knows how to make it complete.
In what ways may a corporation’s structure and culture be internal strengths or weaknesses?
Corporate culture is very important role in the operation of the company. It always creates confidence for each person working in that environment. It is the rope linking the people in the same company, creating common ground among members, and to improve competitiveness for the company. Moreover, It’s building corporate culture appropriate to the characteristics of the business, the management culture is used to create certain people. Corporate culture is an important mechanism in human resource management. Only when corporate culture actually dissolved into the value of each new employee they can be considered the goal of business is to strive for their goals. So by management culture that recognizes employees can create incentives for long-term development of the company.
Chapter 5 What are the advantages and disadvantages of being the first mover in an industry? Give two examples of first mover and late mover firms. Were they successful?
When a company achieve competitive advantage through an innovative company that can sustain it through only by continuous improvement. Almost any advantage which can also be simulated. The Korean company has captured the ability of Japanese rivals in the mass production of color televisions and video cameras standard; the Brazilian company has assembly and design technology is the ability to compare with the competitor of Italian shoes in normal skin.
The final competition will definitely catch up and overcome any company that continuously improve and innovate. Sometimes the advantages of their predecessors are customer relationships, economic efficiency and increase the size of the existing technology, or loyalty to the distribution channel is sufficient to allow a Companies can keep the stagnation inherent in his position for years or even decades. But sooner or later, more dynamic rivals will find a way to innovate around these advantages or create a cheaper way of production or better. The furniture manufacturers from Italy, which has successfully competing on the basis of cost in selling the supplies are short and medium scale through large retail chains, It has been a long stay on this initial advantage. Through the development of differentiated products, and creating the franchise stores strong, the competitiveness of German companies have begun to create advantages.
Chapter 6: How does horizontal growth differ from vertical growth as a corporate strategy? From concentric diversification?
Any company that wishes to grow, but how it grows? way? need a strategy like? Recently, at a seminar on Business Strategy by club brands in Vietnam led organizations, the business strategy was set out and the subject attracted the attention of many entrepreneurs.
First, companies can choose strategic vertical line of products developed, or developing open source distribution. Second, they can select the horizontal development and expansion of commodity production. Or even, It can open entirely new occupations that do not relate much to the original business. So what is the answer for businesses?
Focus – The Future of Your Company depends on It, by Al Ries book titled Vietnamese is different, but specifically to Alpha Books and Publishing House of Labor – Society has just published, may bring an answer companies are struggling with this question.
In his book, Al Ries pointed out that development and expansion are not always promise good things. Development and expansion also contains many risks and pitfalls as companies lack the focus, gradually leaving the business early. The expansion and diversification of commodity products that customers are often confused … The merger or acquisition of the company / brand that many famous brand names were scattered over leading to instability.
Chapter 7: When should a corporation or business unit outsource a function or activity?
When that company is a member of a consortium.
How does mass customization support a business unit’s competitive strategy?
A commonly used technique is to develop analytical systems, including the following:
* Analysis of industry – scope and nature
* Identify the customer and the benefits they expect to receive
* Identify key success factors in
* For critical points by these factors for each factor score – total score of these factors add up to enough to figure 1
* Evaluate each competitor based on the successful elements
* The number of each cell in the matrix together
Why we need to define very simple opponents. Source of knowledge superior opponents created a huge competitive advantage and does not violate the law. Competitive advantage to help create customer value advantage over competitors in the Vietnamese market. Final properties of the value of customer value proposition. Customer value is based on values relative to competitors’ offers, which makes knowledge of competitors to become a vital component in the strategy. Fixation opponents support the strategic objectives in three ways. The first is to identify weaknesses of the opponent to attack. Monday is forecast to be allowed to walk and response strategy of the opponent in front of their strategy, the strategy of other competitors, and changes of business environment. Tuesday was created for strategic flexibility of the organization. The offensive strategy can be deployed quickly to exploit opportunities and strengths. Similarly, the defense strategy was also implemented a clever way to deal with threats from opponents when they attack their weaknesses.
Chapter 8: Is reengineering just another management fad or does it offer something of lasting value?
Businesses through the process of re-established or successfully restructured the company is approved for pain medication and surgery. More pain when they occur in the process of examination and diagnosis. They have the disease but when it comes up, business owners also own or evasion, do not want to hear. Consultants often call it “sick of the boss, boss,” “disease of the family dynasty” … Therefore, no one else, first of all, the business owner must be a bear “thinking back “to recognize the right and take” pills “and persevere with the process of” treatment.
How is the cellular organization different from the network structure?
The network structure is really a sort of non-structure by its virtual elimination of in-house business activities. Long-term contracts with suppliers and other strategic alliances replace the services the company could provide for itself.
Chapter 9: What skills should a person have for managing a business unit using a differentiation strategy? Why? What should a company do if no one having these skills is available internally and the company has a policy of promotion only from within?
This is a few ways that can help you become a strategic thinker:
Stay focused and ready for those unexpected situations. One potential trap could happen to those who direct and manage the intermediate trend is “myopic.” The intranet manager are more likely to be drawn into the daily activities related to their system so there is little basic knowledge about other areas of the company.
Please see the efforts of groups you can contribute anything to the company. Get rid of daily work of the group, consider the requirements and advantages of the company is changing how. If the company is in the process grows, you should take care to ensure that your team plays an important role in meeting the technological requirements of the company? If the company is weak, how you can help groups avoid that?
Understand the advantages and the supremacy of the world brooch upper management. Time is all you need to have one of your properties. Ask yourself what is important for your company, upper management who look remotely like any of the advantages of the company, and more specifically, is your team? and dominant at that time or what goals have the best chance to be seen in a positive way?
What are some ways to implement a retrenchment strategy without creating a lot of resentment and conflict with labor unions?
1. Should be used for temporary leave as a last resort when your company is in the tradition of treating people well.
2. If you feel forced to do for a temporary leave for workers, be associated with the implementation of more complex work related and labor productivity will be restored soon.
Chapter 10: What are some examples of behavior controls? Output controls? Input controls?
For example, a given drug is, it is very precious, and another despised it.
From the above can deduce a number of measures to promote health behavior from an economic perspective:
– Compensation costs by reducing taxes or finance a production unit or the provision of health services to reduce costs to boost people’s consumption.
For example, government could reduce taxes for companies that produce milk for them to reduce costs and regulatory funding from other sources through the provision of compensation to the department of health services to reduce prices or provide free services service charges.
– More incentive gift to partially offset the cost in material or spiritual.
Note: The opportunity cost is the value that should have been done without a certain activity.
Example: The patient to the hospital to receive the free medicine, they’ve actually lost some money that was supposed to during that time they can earn. Thus the concept should be extended free of charge, including the value of public subsidies for the opportunity cost. As compensation for money or gifts to the station leading to the drug.
– Health education to help people realize the benefits of behavioral or health products and instructions for ways to reduce costs
For example, internal medicine or other health care facilities self-made, low cost).
Chapter 11 What is technology research and how does it differ from market research?
Technology research is the current state of our knowledge in combining resources to produce the desired product (and our knowledge about how the production). Thus we can see the technology changes as technical knowledge of our increase.
The difference between research and technology market research:
Market research is an extremely important service, if market research is done well, it provides sufficient accurate information to help marketing people to make an appropriate strategy and thus bring efficiency. Conversely, if market research about the information collected inaccurate, It do not reflect the actual market situation, and therefore not based on solid information, so the decision was not made close to reality, marketing activities will lead to inefficiency and waste of material resources.
Chapter 11 What is technology research and how does it differ from market research?
Product is first able to satisfy customers’ desire, dedication to their interests and can make offers on the market with the ability to attract the attention of shopping and consumption. Accordingly, a product is made and formed from the two following basic elements:
* Element material.
* Non-material factors.
Research and development (R & D) are the investment, conduct and / or sale of research, new technologies specific to the survival and development of business nghiep.R & D and technological innovation, the process technology is always a goal and an important function of the company advanced, multi-national company pioneering, big world. “To become the company has always led the market of no other is always one step ahead of competitors in developing products and technologies to meet the maximum demand customers with affordable and cost optimal.
What is technology research and how does it differ from market research?
Building business culture is not merely a combination of business and culture that is higher, it is the body’s entry into the work culture and business. That means the owner can – people do business – should actually be the cultural entrepreneur. To evaluate an entrepreneur has to be a cultural entrepreneur or not, as we need to look at the six factors, the following conditions:
Who have good ethics, is “interested” under the standard of living, national culture.
There is honesty and the word “credit.”
Respect and comply with the law.
There are education and foreign languages.
Sustainable development, innovation, and national interests.
Social activities – charity.
In the six criteria, standards were rated as the 6th standard corollary of the five criteria before it. They are any type of business and should have responsibility towards society and itself become an important factor leading business culture.
Chapter 12: How should a small company engage in environmental scanning? To what aspects of the environment should management pay most attention?
Superior scanning also provides companies with a competitive advantage in the marketplace. As an example, Frederick Smith’s recognition of the changing nature of U.S. business operations allowed Federal Express to “create,” nurture, and expand the market for fast delivery of smaller packages by air transportation; Fed Ex is still the acknowledged leader of this market. For the purposes of this article, environmental scanning will refer to “…gathering and interpreting pertinent information and introducing the results into the organizational decision process.”
LeMay pointed out that the advent of deregulation found many motor carriers lacking the skills necessary to collect environmental information vital in the formulation of corporate strategy.Indeed, contemporary motor carrier research has discovered significant relationships between corporate strategy and corporate performance. For example, Smith et al. showed that LTL carders with well-defined strategies outperformed those with ill-defined and nebulous strategies. Similarly, Murphy and Corsi uncovered relationships between the sales force management strategies and sales force productivity of LTL carriers.
How does being family-owned (as compared to being publicly-owned) affect a firm’s strategic management?
A key issue facing managers of family businesses is maintaining an appropriate balance in responsibility to the family and to the business (Frieswick, 1996; Gersick, Davis, McCollom Hampton, & Lansberg, 1997). Family business founders appear to play an important role in whether or not that balance is achieved (Chrisman, Chua & Sharma, 1996). From a strategic management perspective, the founder is likely to be particularly influential on manager mindsets, motives, values, goals, and attitudes that are central to the organization. Similarly, a founder may shape the family firm’s strategic behavior and its interactions with the external environment.
Chapter 13 What are the pros and cons of mergers and strategic alliances? Should not-for-profits engage in alliances with business firms?
Two heads are better than one: Please link forces with other enterprises and track your business development.
Mitchell Lee Marks, co-author of a book “link force” for that: There is a coalition of small businesses. Up to 90% of small business growth has established alliances.
Small businesses want to grow like the coalition because they can facilitate access to technology, skills, marketing, production, distribution and other capabilities quickly and inexpensively. The study showed that the alliance business to grow faster, faster productivity growth and higher sales of businesses only operate independently.
The alliance is the testing of plans before the merger entirely. Marks noted that the absence of a change in ownership, so the easy retreat. Another advantage of the alliance than a merger or acquisition is that you can simultaneously participate in several coalitions.
Synergies are the advantages that most alliances pursued. If you have a product but lack distribution channels, you can search for synergy by linking with a company that has good distribution channels and not have to compete with your product. The company owns the technology can be combined with your company’s technology to create a perfect product as well as potential allies. In the international coalition, this company can provide the skills the local market while other companies offer products or technology import. The allies also benefit from collective buying, affiliate marketing, combining research, development, co-sponsored training activities or establish uniform standards in a new technology.