Risk Mitigation Strategies

Strategic planning gives a clear framework with criteria for us to make day-to-day decisions. It also helps to identify fragmentary and unaligned choices and personal value judgments. This strategic planning encourages the commitment of the entire HO in order to achieve the planned results and this is why it is an important element in institutional cohesion. An organization that has better strategic planning and applies it consistently can help to raise up corporate reputation. A strategic plan is the systematic way that describes how your company applies the chosen strategy.

An organization often is founded on a core set of values that they find pertinent to the success of the business. Typically to focus these values a little more so than usual is develop a mission statement. With this the organization develops an encompassing statement, or statements, that shows why a company is the way it is. It shows the importance of guests and consumers, and it shows the professionalism exuded by the organization. “A mission statement is a concise statement of a company 's reason for being, what it actually does, and for whom.

A variety of strategic planning tools (described in the section below) may be completed as part of strategic planning activities (Bradford and Duncan, 2000). The organization's leaders may have a series of questions they want answered in formulating the strategy and gathering inputs, such as What is the organization's business or interest?, What is considered "value" to the customer or constituency?, Which products and services should be included or excluded from the portfolio of offerings?, What is the geographic scope of the organization?, What differentiates the organization from its competitors in the eyes of customers and other stakeholders? and Which skills and resources should be developed within the

Management is about: Order & consistency, protecting the existing structure, systems, traditions and the status quo, the belief that past success gives insight into the way forward and relying on accumulated facts. Vs. Leadership, which is about: creating change, vision, direction, organisation, values and destruction of the way we have always done it. A managerial culture emphasizes rationality and control; weather the manager’s energies are directed towards goals, resources, and structure or people a manager is a problem solver. From this perspective, leadership is simply a practical effort to direct affairs and to fulfill the task.

The Balanced Scorecard can be implemented in line with organizational culture and helps the firm to differentiate itself from competition. To successfully implement and sustain the scorecard, the firm should have a guiding rationale for the implementation. There should be executive ownership and buy-in of the scorecard. Since the scorecard is an agent of change, proper communication and training ensure staff understanding and keen interest for adoption. The firm should define its core purpose (mission), values, vision and strategy.

He did not make it a piece of paper without a guidance to form all the key decisions. He determined and communicated the organization strategic direction. Dr. kibirige make decision and guides employees to help him shape the strategic vision. He do describe it in a clear, engaging and exciting way for all the stakeholders. Al the employees in the company understand how the direction affects their job, and daily responsibilities.

They have achieved such a success based on the way they have organized their operations. Competencies are very important for an organization to build up on their own. Competencies can be of two aspects namely core competencies and threshold competencies. A core competence can be identified as a unique set of skills or production techniques that deliver a particular value to the customer. A threshold competence can be identified as a quality that need to maintain by the organization in order to remain competitive in the market (Rohwedder & Johnson,

Q3. Describe the policies used for ensuring professional development and training programs. People are those assets in any working organization which makes an integral part for the growth and development of employees in any organization. Hence there is a constant requirement for professional training and development program for both permanent and new employees within an organization and benefits are no doubt a great ongoing facilitation for all the employees. Objective of HR policies used for professional development and training programs in Maxtel: To ensure that the organisation has people with all the appropriate skills, knowledge and behaviours required to meet its business goals and objectives on both the short and longer term and to

Team development is an important issue in most organizations as it has a direct influence on its performance. Team development involves various stages that must be managed effectively by the team leaders so as to create an effective team. The paper herein gives a description of the team development process and the team management techniques to reduce the chances of fallout. The paper starts with an introduction to the case which involves two departments in an organization and finally describes the specific team development stages, Team Development Introduction The business environment is an ever-evolving beast, Change is a common phenomenon at every workplace, and it is beneficial to the business, the employees and other stakeholders in the

Discussion Nestlé’s Corporate Social Responsibility consists of looking further then the own company needs or profits and pay more attention to other stakeholders. Everyone concerned or connected to the company business will get a closer look on their situation and will be treated right. They divide the stakeholders in two categories; the first being the internal stakeholders such as employees and shareholders. The second category is external stakeholders where we find the suppliers, customers, environment and so on. A multinational as big as Nestlé plans on the long term, which is why they put a great deal of research into finding out how a business is successful.