chapter10: buuilding an organization capable of good strategy execution

Asslamualaikum..
last but not least, i'll write about the 10th chapter: BUILDING AN ORGANIZATION CAPABLE OF GOOD STRATEGY EXECUTION: PEOPLE, CAPABILITIES, AND STRUCTURE

why must manager execute strategy succesfully ? there are10 basic task of strategy execution

hiring, training and retaining a right people constitute keys component and will help the company to execute strategy successfully.

We need to understand that good strategy execution requires continuously building and upgrading the organization’s resources and capabilities. We also need to Recognize what issues to consider in establishing a strategy-supportive organizational structure and organizing the work effort. We need to become aware of the pros and cons of centralized and decentralized decision making in implementing the chosen strategy.

chapter 9: corporate culture and leadership

These week is a hectic and miserable..alot of things that happened & and I didn't feel very..in this late night, I couldn't sleep because of stomach ache for three days..I dont think could hold this pain for a long time. and now, even it is late, i will still update this blog.
and now I'll write about corporate culture and leadership

corporate culture is the meshing of shared values, beliefs, business principles and tradition that imbues a firm's operating styles, behavioral norms, ingrained attitudes and work atmosphere.





the key features are:

This key features would help the corporate culture of the company. ^^

chapter 8: corporate strategy

Assalamualaikum and good night!!! hehehe
now, I would write about corporate strategy

the core concept about it is a Creating added value for shareholders via diversification requires building a multibusiness company where the whole is greater than the sum of its parts—an outcome known as synergy.

by doing diversifying, it will perform better financially as part of the company than they could have performed as independent enterprise and it boost shareholder value.

The company also should know when the diversification into unrelated business.

Last but not least, we need to understand the option diversified firm's four main corporate strategy option.

Chapter 7: strategies for competing in international market

Assalamualaikum and good evening again!! ^^
Now, i would write about strategies for competing in international market. Why should a company compete in international market ????

there are 5 reason which are :

During lecture class, Miss Ummi show us a video about McDonald. It show to us on how they commercialize their product to Taiwanese by using several actors such as Wang Lee Hom.

http://www.youtube.com/watch?v=cKxeeKicz-Q

Chapter 6: Strengthening a Company's Competitive Position

Hi! now, this chapter about blue ocean strategy. hmmm....what is blue ocean strategy ?

This picture shows about blue ocean strategy. In order to strengthening company competitive strategy, the company needs to make a lot of effort such as using blue ocean strategy. 

As we can see from the picture, blue ocean strategy is a good effort and give a lot of benefits since battling head on would gives nothing but a bloody “red ocean” of rivals fighting over a shrinking profit pool. So, any company should think out of the box to success. ^^

chapter 5: The Five Generic Competitive Strategies

Assalamualaikum and good evening. ^^
Now, in this entry, I would write about 5 generic strategies.

A successful cost leadership strategy usually permeates the entire firms as evidence by high efficiency, low overhead, limited perks, intolerance of waste, intensive screening of budget request.

Differentiation involves making our products or services different from and more attractive those of our competitors. To make a success of a differentiation strategy, organizations need:

• Good research, development and innovation.
• The ability to deliver high-quality products or services.
• Effective sales and marketing, so that the market understands the benefits offered by the differentiated offerings.

Companies that use Focus strategies concentrate on particular niche markets and, by understanding the dynamics of that market and the unique needs of customers within it, develop uniquely low cost or well-specified products for the market. Because they serve customers in their market uniquely well, they tend to build strong brand loyalty amongst their customers. 

Chapter 4: Evaluating a Company's Resources, Capabilities, and Competitiveness

Assalamualaikum and a very good morning. Today, i will write about:
Evaluating a Company's Resources, Capabilities, and Competitiveness

In this chapter mostly, we will be using a tool named SWOT analysis. SWOT analysis is a simple but powerful tool for sizing up a company’s strengths and weaknesses, its market opportunities, and the external threats to its future well-being

It is a powerful tool for sizing up a firm’s:

1. Internal strengths (the basis for strategy)
2. Internal weaknesses (deficient capabilities)
3. Market opportunities (strategic objectives)
4. External threats (strategic defenses)

Strengths:

What advantages does your organization have?

What do you do better than anyone else?

What unique or lowest-cost resources can you draw upon that others can't?

What do people in your market see as your strengths?

What factors mean that you "get the sale"?

What is your organization's Unique Selling Proposition   (USP)?

Weaknesses:

What could you improve?

What should you avoid?

What are people in your market likely to see as weaknesses?

What factors lose you sales?

Opportunities:

What good opportunities can you spot?

What interesting trends are you aware of?

Threats

What obstacles do you face?

What are your competitors doing?

Are quality standards or specifications for your job, products or services changing?

Is changing technology threatening your position?

Do you have bad debt or cash-flow problems?

Could any of your weaknesses seriously threaten your business?

Chapter 3 : Evaluating a Company's External Environment

Now, I will be speeding up my update about Strategic Management..because this semester gonna end in 3 weeks..
The third chapter is about :  Evaluating a Company's External Environment

Now, you have seen the factors of external environment. It gives alot of impact to the environment of a company. Then, I'll gonna show five porter forces. It have five important party which seriously hold the competitive pressures on companies within an industry.

These are three steps need to be done before doing 5 porter analysis

1. identify what the driving forces are
2. assess whether the drivers of change are, on the whole, acting to make the industry more or less attractive 
3. determine what strategy  changes are needed to prepare for the impacts of the driving forces.

Chapter 2 : The business vision and mision

In this chapter we learnt about the importance of making vision, mission and objectives of a company. A vision statement should answer the basic question, “What do we want to become?”
Mission statement is :

• a declaration of an organization’s “reason for being.” 
• answers the pivotal question “What is our business?” 
• essential for effectively establishing objectives and formulating strategies
• reveals what an organization wants to be and whom it wants to serve
• Also called a creed statement, a statement of purpose, a statement of philosophy, a statement of beliefs, and a statement of business principles

The Importance of Vision and Mission Statements:

• To ensure unanimity of purpose within the organization
• To provide a basis, or standard, for allocating organizational resources
• To establish a general tone or organizational climate
• To serve as a focal point for individuals to identify with the organization’s purpose and direction
• To facilitate the translation of objectives into a work structure
• To specify organizational purposes

Mission Statement Components

• Customers
• Products or services
• Markets
• Technology
• Concern for survival, growth, and profitability
• Philosophy
• Self-concept
• Concern for public image
• Concern for employees

 

The first entry for Strategic Management

Assalamualaikum and a very good evening. Now, I would have to make a topic about strategic management. Why ? Because it is part of my assessment in USIM and my hobby which to share something that are valuable for human mankind which is the most important thing that is KNOWLEDGE.

First chapter : The Nature of Strategic Management.

Definition : What is strategic management ?
answer : the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives.

There are 3 stages is strategic management.

1. Strategy formulation
2. Strategy implementation
3. Strategy evaluation 

There are several key terms that need to be pondered

1. competitive advantage
2. strategist
3. vision statement
4. mission statement
5. external opportunities
6. external threats
7. internal strength
8. internal weakness
9. objectives
10. strategies
11. annual objectives
12. policies

Benefits of Strategic Management

• enhanced communication
• deeper/improved understanding
• greater commitment
• lastly, wait the result