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JHT2 Strategic Management

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Jim McCleskey

on 7 June 2016

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Transcript of JHT2 Strategic Management

62
ECG
bpm
Thank You!
Agenda
Task 3 Task Overview
Description
Major Topics
Learning Resources
General Advice
Heads Up on Prompts
Major Topics
Environmental Evaluation
Dominant Economic Features
Competitive Characteristics
Strategic Group Mapping
Vision, Mission, Objectives
Motivational Theories
Organizational Considerations
Corrective Adjustments
Task 3 Description
Assume that you are employed in a company providing service in a healthcare, lodging, or retail trade industry.

The president of your company has expressed concern about the company’s ability to remain competitive and has asked you to develop a program to improve the strategic management activities within the company. The president feels that the planning must be more sophisticated and should utilize the most current planning concepts. The entire organization must be more closely aligned to the company’s mission, and execution of the plan must be more effective.

30-35 Pages
21 Prompts
Covers all or part of 11 chapters in 2 text books

Your Learning Resources
Tip Sheet
Power Point Presentation
Video
Textbook Chapters
General Advice
Always be specific, provide detail, use "real-fake" numbers

Example:
"This decision will impact the company's profitability"
"This decision should result in an increase of 12% profit over the prior year."
Task 3 Overview
Dr. Mack
JHT2 Strategic Management Task 3
More Tips and Hints

Called the toughest assessment in the WGU MBA (or at least the longest)
Heads Up on Specific Prompts
B1 and B2 Vision and Mission

Include the statements but also include a sentence or two about their development and appropriateness

Articulate a vivid and compelling case for where the company is headed. A vision is focused on the future strategic course or the direction the company is headed.

Mission
Our mission is to (do something), for (a specific constituency), by (accomplishing?, providing ?, improving?).
Heads Up on Specific Prompts


Prompt B6 and B7:
These are objectives (read goals) one financial and one functional
Goals (like these) should be SMART
Specific, Measurable, Achievable, Results-Oriented, and Time bound

You have to talk about how you'll measure them

Heads Up on Specific Prompts
C1 - C3, Execute your strategy

C1: 10 managerial components (Strategy Chapter 10-12)

C2: Align with the mission (Org Behavior Chapter 8-9)
process of setting and aligning goals (objectives), promoting goal commitment, providing feedback and support, adjusting the strategy when needed to stay on mission, and rewarding performance that contributes to mission success...a discussion of
management by objectives (MBO) is appropriate in this response

C3: Analyze 2 motivation theories (Org Behavior Chapter 8-9)

Don't forget your...


Tip Sheet
Final Thoughts
JHT2 Task 3 is a bear but it can be tamed

Take your time and break the Task up into sections

Be specific with your answers and provide detail

Read the prompts carefully to make sure you know what you are being asked

Use your resources

Don't let fatigue set in with the later prompts

Reverse edit for quality
...good luck.
Use Your Tip Sheet
Any Questions?
Heads Up on Specific Prompts
C4 Org Considerations from Strategy Text Chapter 10

1. deciding which value chain activities to perform internally and which to outsource
2. making internally-performed, strategy-critical activities the main building blocks in the organizational structure
3. deciding how much authority to centralize and to decentralize
4. providing for cross-unit coordination
5. providing for collaboration with suppliers and strategic allies

Heads Up on Specific Prompts
C5 Org Characteristics

What kind of organization will you have, collaborative, empowered workforce, what is the communication process? Explain if you will have a learning organization with training and methods to improve. How will you create competencies? What kind of IT will you have?
Emerging characteristics include extensive use of Internet technology, e-commerce business practices, reduction of organizational barriers within the company and with outside entities, rapid dissemination of information and rapid learning, more widespread collaboration to create competencies, and utilizing much larger work teams. Existing characteristics include increased empowerment of managers and workers who are closer to the action, redesigning work processes to achieve greater streamlining and tighter cohesion, networking with outsiders to improve capabilities or create new ones, and making organizational structures flatter.
Heads Up on Specific Prompts
C6 Corrective Adjustments
Strategy Text Chapter 12

How do they make corrective adjustments?

Feedback
Data gathering and analysis
How do they adopt an agreed on decision?Promote the decision
Heads Up on Specific Tasks
A3 and A3a Competitive Characteristics and Group Mapping

To determine the two differentiating characteristics it is important to understand the competitive strength of the industry. What competitive forces are at work and how strong are they.

There are many benefits that consumer value and look for when purchasing a product. Below are the most common ways to create differentiation:

Product Features
Manufacturing or Service Process
Performance

Watch the video and see the example diagram
Anadarko's mission is to deliver a competitive and sustainable rate of return to shareholders by developing, acquiring and exploring for oil and gas resources vital to the world's health and welfare.
A business-level financial objective for Costco would be to increase the revenues from non-US and non-Canadian operations by 10% each year.
Example Motivational Theories from Chapter 8-9 (Org Behavior)

Maslow's Need Hierarchy
Alderfer's ERG Theory
McClelland's Need Theory
Herzberg's Motivator-Hygiene Theory
Adam's Equity Theory
Vroom's Expectancy Theory
Goal Setting Theory
Job Design as Motivation
Goal Setting
Feedback
Reward Systems
Positive Reinforcement

Heads Up on Specific Prompts
B4: Market Opportunity

Current unmet need in the marketplace

Could be unserved customers in geographic or demographic terms

A new product or service

A new distribution method

Bundling or unbundling of existing offering
Full transcript