BADM 638 Reflection Week 4 - Strategic Decision Making - Rupesh Ghosh

docx

School

University of the Cumberlands *

*We aren’t endorsed by this school

Course

638

Subject

Business

Date

Jun 1, 2024

Type

docx

Pages

Uploaded by PresidentWorldPony29

BADM 638: Reflection Week 4 - Rupesh Ghosh Strategic Decision Making Chapter 7. Implementing Strategies: Management and Marketing Issues Chapter 7 explains that changes in a company's strategic direction require the regular implementation of policies to ensure the strategy's success. These policies serve as actionable steps that bridge the gap between strategic goals and day-to-day operations. To achieve desired outcomes, all firms utilize at least four types of resources: financial, physical, human, and technological. Resource allocation involves distributing a firm's assets across products, locations, and segments according to the priorities set by the annual objectives. This allocation must be dynamic and responsive to changes in market conditions, competitive pressures, and internal capabilities. Chapter 7 outlines the transition from strategy formation to implementation, emphasizing the importance of resource allocation as firms expand in number and type of resources, and highlighting the need for a systematic approach to managing resources efficiently and effectively to drive strategic initiatives forward. Effective strategy implementation hinges on managers' ability to foster an environment conducive to change. Managers must communicate the vision clearly, align incentives with strategic objectives, and cultivate a culture that embraces innovation and continuous improvement. Human resource factors are crucial, as a company's strength lies in its employees. Recruitment, training, and retention strategies must align with overall strategic goals to ensure the organization has the necessary skills and capabilities. The matrix structure, commonly used in industries such as construction, healthcare, research, and defense, exemplifies an organizational design that supports strategy implementation by facilitating flexibility and cross-

functional collaboration. This structure enables organizations to respond quickly to changes and leverage diverse expertise from different parts of the organization. In the corporate landscape of the US and Europe, reengineering and restructuring are becoming more prevalent. Reengineering involves fundamentally rethinking and redesigning business processes to achieve dramatic improvements in performance measures such as cost, quality, service, and speed. It prioritizes the welfare of employees and customers over shareholder welfare, reflecting a holistic approach to business success. However, resistance to change remains a significant obstacle to successful strategy implementation. Overcoming this resistance requires effective change management practices, including stakeholder engagement, transparent communication, and phased implementation to ease the transition. Corporate wellness has become a major strategic issue in organizations, recognizing that employee health and well-being directly impact productivity and overall performance. Wellness programs are increasingly seen as essential components of a comprehensive human resource strategy, contributing to reduced absenteeism, increased employee engagement, and enhanced corporate reputation. Various marketing variables influence the success or failure of strategy implementation efforts, including brand positioning, customer engagement, and competitive differentiation. An organization achieves optimal effectiveness when its workforce reflects the diversity of its customers, promoting innovation, creativity, and better decision-making by bringing diverse perspectives to the table. Many companies examine prospective employees' social media activities, which they have the legal right to do, although this practice has both advantages and disadvantages. It can provide

insights into a candidate's personality, values, and potential cultural fit, but also raises concerns about privacy and potential bias. Companies must balance these considerations carefully, ensuring their hiring practices are fair, transparent, and consistent with their values and legal obligations. In conclusion, effective strategy implementation is a multifaceted process involving resource alignment, supportive organizational culture, change management, and addressing various external and internal factors. By focusing on these areas, organizations can enhance their ability to achieve strategic objectives and maintain a competitive edge in a rapidly changing business environment. What policy do you recommend for companies regarding employees spending time on their personal Facebook and other social media accounts? Could your policy be enforced? How? Why? A social media policy is crucial to ensure that staff use social media appropriately. Given that most employees use at least one social media platform, anything they post could potentially put the company at risk if they share sensitive information. Additionally, using social media during work hours can interfere with concentration and productivity. A social media policy can set limits on when staff can use social media at work, provide guidance on using corporate accounts, ensure staff are aware of what not to post (such as confidential information), and outline when to take disciplinary action for posts that harm the company's reputation. A comprehensive social media policy should include several key elements: guidelines on the type of content employees are permitted to share on social media, rules to prevent social media abuse, and penalties for inappropriate use of social media sites. Once approved by the board or

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

organization, the policy can be enforced. If properly implemented and approved by the HR department, it should be included in the orientation guidelines that new hires receive before starting work at the company. These components ensure a well-rounded social media policy that protects the company while providing clear expectations for employees. References David, F. R., David, F. R., & David, M. E. (2019). Strategic Management (17th ed.). Pearson Education (US). https://reader2.yuzu.com/books/9780135203736

Related Documents

Himachal Case Part 3.docx

Task sheet.pdf

BADM 638 Reflection Week 3 - Response 1.docx

BSBTWK401 TASK 1.docx

BUS4063_U04A1.docx

Moison_2019.pdf

BSBOPS502 Project Portfolio Student.v1.0.docx

Practice Exam 2 Spring 2024 Key.docx

puntos extra elaboracion semana 1.pdf

AYB 250 Personal Financial Planning.docx

Puntos extra 3: programas por competencias .pdf

puntos extra diseño semana 1.pdf

Recommended textbooks for you

Management, Loose-Leaf Version

Management

ISBN:9781305969308

Author:Richard L. Daft

Publisher:South-Western College Pub

MARKETING 2018

Marketing

ISBN:9780357033753

Author:Pride

Publisher:CENGAGE L

Understanding Management (MindTap Course List)

Management

ISBN:9781305502215

Author:Richard L. Daft, Dorothy Marcic

Publisher:Cengage Learning

Principles of Management

Management

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax College

Contemporary Marketing

Marketing

ISBN:9780357033777

Author:Louis E. Boone, David L. Kurtz

Publisher:Cengage Learning

SEE MORE TEXTBOOKS

Recommended textbooks for you

Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
MARKETING 2018
Marketing
ISBN:9780357033753
Author:Pride
Publisher:CENGAGE L
Understanding Management (MindTap Course List)
Management
ISBN:9781305502215
Author:Richard L. Daft, Dorothy Marcic
Publisher:Cengage Learning
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning