4. Analysis of strategic capacities of Nikon Corporation This section analyzes the strategic capability Nikon. It starts with a value chain analysis, followed by a VRIN evaluation to determine whether there is any capacity can be sustained competitive advantage. 4.1 Value chain analysis Porter developed the value chain to help determine the internal activities for a competitive advantage, and which are not.
Wade 1 Control is any process that directs the activities of individuals toward the achievement of organizational goals (Bates). Sandwich Biltz is planning on expanding and has a situation at hand with the reporting of hours not work. I strongly suggest the four step of the control system should implemented in Sandwich Biltz Inc., before going forward. This control system has four critical steps namely; setting performance standard, measuring performance standard, comparing against the standard and determining deviation and taking action to correct problems and reinforce success. First step, Lei should set up a performance standard to achieve the organization goals.
WalMart was used in this paper to illustrate the importance and effectiveness of establishing a BSC. The desired effect of a BSC is to improve the organizational performance and productivity of a company by setting targets and implementing strategic initiatives to accomplish desired results. This ultimately leads to an improvement of the four perspectives of the BSC which are the financial perspective, customer perspective, internal perspective, and the learning perspective. When a company implements the proposed methods contained within the BSC, the company will increase the customer satisfaction as well as increase customer retention. This also allows the company to improve its learning and growth perspective by decreasing employee turnover rate, improving the company?s ability to attract and retain new employees, and it will increase employee satisfaction.
(P1.3) Once the business strategy is formed, there are different techniques in developing the strategic plans of the business using various tools by the organization. These techniques show the strengths and weaknesses of the organization and as well as their opportunities and threats that are possible to the business in order to form an effective developed strategic plan during the process of operation. In this case, Nordstrom uses these types of tool in developing their strategic plans which are the BCG matrix and SOAR analysis. BCG matrix is the matrix which determines the level industry relative share of the industry and the business with the help of four dimensions. Strategic business plans are set by considering the growth rate of the industry and current situation of the business.
“Decision making is a process to choose the best solution among many alternatives.” To see if a decision is acceptable or good depends on the objectives or the goals of the management. The objective of Crowair Plc is to provide basic services that aims in lowering the cost of the company. To achieve the objective of the company, the management has to go through the process of decision making which is a collaboration between planning and controlling. Planning involves carefully examining the objectives or the goals of an organization and formulating realistic, clear and detailed plan on how to achieve these goals.
It is most efficient to address stress at its origin before the problem advances too much; thus, assessments such as these aim to address the stress levels early (Houdmont and Stravroula 80). After individuals are aware of problems talking more openly and confronting the aspects of mental and emotional health will decrease the progression of work-related stress (Armson 5). A few ways to reduce work place stress include making the most of workday breaks and setting reasonable standards. Even a small amount of personal time for a snack, walk, or a chat can improve mood in the workplace ("Mind/body Health: Job Stress"). In order to produce a real change specific resolution need to be focused
She eventually attempts to correct the mistake through seeking help from a higher authority attempting to control and respect her authority over her assigned project. She also attempts to suppress the anger and deterrence by the accounts department through talking to the senior department. This helps her make time to enable her to go through files and documents and refers to the internet on how she can eventually improve on accounting systems in the reduction of the twenty percent. The improvement and delivery of the completed project was dependent on how each department would cooperate to make sure the project was delivered on time. References:Lester, D., & Parnell, J. (2006).
This movement in fact what is called ERM ( enterprise risk management ), and many companies started to use this approach either because the rating agencies or stock exchanges require it or because it simply makes tremendous sense , however, in some cases because of government regulations. Nevertheless, says James Lam, who has written several books on the subject and is president of the eponymous ERM consultancy, James Lam & Associates in Wellesley, MA, a solid ERM framework should have four key components: governance structure and policies, risk analytics, risk management strategies, and dashboard reporting and monitoring. Every organization, no matter its size or industry sector, will need to take these components into account in putting forth their ERM strategy, Lam says.