"An innovation strategy must cope with an external environment that is complex and ever-changing, with considerable uncertainties about present and future developments in technology, competitive threats and market (and non-market) demands" (Tidd, J. et al, 2005). A strategy is considered to be a plan of action that is assigned to achieve a long-term or a general aim; so it is concerned with how to achieve your aim and not what these aims are. So simply strategy is defined as a firm's realized position in its competitive market (Mintzberg, 1987; Porter, 1980). The strategic strategy of each firm is supported by its resources and capabilities which assure that resources and positions are the same. Also R. Adner et al , 2003 investigated the effect of strategic decisions of companies on business gainfulness over time in their study .
Over the past two decades we have witnessed unprecedented change sweeping the workplaces of the western world. We now live in an age of chronic uncertainty where chaos abounds and where the pace of change continues to accelerate. Some of the key challenges in managing today’s workforce include the following: • The ‘demographic crunch’ of an aging workforce with a shortage of talent and an excess of labor; • A more diversified and mobile workforce in terms of age, ethnicity and preferences; • The growth of the contingent workforce (to minimize risk and maximize flexibility); • The need for workforce reconfiguration with a changing skills mix (particularly with the interruption to traditional business models due to the
When organisations cannot identify there business activities, it becomes a difficult task to align IT plans to business strategy. Value-chain-analysis helps by separating primary activities such as inbound logistics, operations, marketing and sales, outbound logistics from support activities such as HCM (Human resources management), Technology, procurement and infrastructure. Whilst critical success factors analysis “are the critical factors or activities required for ensuring the success your business. The term was initially used in the world of data analysis, and business analysis.” RapidBI. (2018).
Resources can be defined as assets transformed to create benefit that can either be consumed or become unavailable during this transformation process (https://en.wikipedia.org). Examples of resources can be; knowledge, materials, services, staff and energy. The purpose of resource utilization is to generate advantages such as increased wealth, meeting needs or wants, proper functioning of a system, or enhanced well being. Therefore, from an organizational perspective resources is anything used from the business environment to enhance the proper functioning of the organization system and its well being. Resources has three main characteristics; utility, scarcity, and possible depletion or consumption (https://en.wikipedia.org).
Tidd et al. (2001) have stated that incremental innovation (“more of the same”) requires a different approach to organization and management compared to radical innovation, an argument generally found in organizational ambidexterity studies (O'Reilly & Tushman, 2013; O'Reilly & Tushman, 2004). It is understood that the similarity between incremental designs in an organization allows the use of models, such as those of Pugh (1991), Cooper (1993), Rozenfeld et al. (2006) or Thomas (1993), that detail the operational phases of development to a greater extent. An analogy with the resource specialization in manufacturing operations might be made: efficient production of high volume of similar products allows more rigid and dedicated processes (in terms of sequence adopted, tools and machinery), a more mechanistic work structure and more routinized and predictable activities - so would be the "production" of high volume of similar projects.
Article 1: Operations strategy: a firm boundary-based perspective Operations strategy is concerned less with individual processes and more with the total transformation process that is the whole business. It is concerned with how the competitive environment is changing and what the operation has to do in order to meet current and future challenges. It is also concerned with the long-term development of its operations resources and processes so that they can provide the basis for a sustainable advantage (Slack & Lewis, 2011). If a business does not fully appreciate the strategic impact that effective operations and process management can have it is missing an opportunity. Perhaps more significantly, many of the businesses that seem to be
architecture, interface specifications, as well as the need to develop expertise in the technical and business interaction processes with the platform ecosystem imposes high costs on the complementor. Additionally, investments in relation-specific knowledge might be necessary for the complementor’s developers to properly use the resources provided by the platform owner. The more specific an asset is that the complementor develops the stronger is the lock-in effect and consequently the higher the switching costs are when considering multi-homing. Hence asset specificity will negatively impact the complementor’s propensity to join the
Overcome organization’s threats. It helps in identifying core competencies of the firm. It helps in setting of objectives for strategic planning. It helps in knowing past, present and future so that by using past and current data, future plans can be reshaped. Shortcomings of SWOT Analysis in strategic planning process:- There are certain limitations of SWOT Analysis which are not in control of management.
Nonetheless, there is still a need for a more suitable understanding of the complexities in M&A integration for practical business. In that perspective, the findings of this study could apply to any firm that undertakes an effort to better understand the M&A integration process. The understanding that management of M&A integration is a capability that needs to be deliberately developed and maintained is fundamental. Learning by doing will not unlock the full performance potential of this capability. Due to the abstract nature of a capability, it needs an efficient framework to keep it relevant and useful.
Chapter 1 - Introduction 1.1 Introduction Multi-Criteria Decision Making (MCDM) is concerned with the structuring and solving decision and planning problems involving multiple criteria. The intention is to support decision-makers dealings with such problems. Typically, there does not exist a unique optimal solution to such problems and it is necessary to use decision-maker’s preferences to differentiate between solutions. The appropriate structuring of complex problems and well consideration of multiple criteria explicitly leads to more informed and better decisions. In complex decision making processes, especially when it affects the finance and working style of the company, a detailed evaluation of the situation is often needed.