Strategic Management- Homework 4 (Raymond Rolle)

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Feb 20, 2024

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1 Name: Raymond Rolle Course: Strategic Management & Policy (BUS-4795-01) Professor: Dr. Thrash Title: Homework 4 Date: February 6 th , 2023 Due Date: February 11 th , 2023

2 Question 1.In what ways can having a celebrity CEO and a strong entrepreneurial orientation help or harm an organization? Answer: Having a celebrity CEO and a strong entrepreneurial orientation can bring many benefits to an organization, such as increased visibility, brand recognition, and a sense of excitement and innovation. However, it can also lead to harm if the celebrity CEO is not able to effectively manage the organization or if the entrepreneurial orientation leads to a lack of structure or stability. A celebrity CEO is someone who is already famous or well-known in society, often due to their success in another field such as entertainment or sports. Having a celebrity. People are more likely to recognize and trust a brand if it is associated with a celebrity, and this can lead to increased sales and profits. Additionally, a celebrity CEO can bring a sense of glamour and prestige to the organization, which can attract top talent and investors. 2. Explain each of the dimensions of the balanced scorecard framework. Answer: The dimensions of the balanced scorecard framework are financial, customer, internal business processes, and learning and growth. The balanced scorecard framework is a method for measuring and managing performance that is used by organizations to monitor their progress toward strategic objectives. It is based on the idea that organizations should focus on more than just financial performance, but also on customer satisfaction, employee satisfaction, and other intangible factors that can lead to long-term success. The financial dimension of the balanced scorecard focuses on financial performance, such as revenue, profits, and cash flow. This

3 dimension is important because it provides organizations with a way to measure their financial success and ensure that they can meet their financial obligations. The customer dimension of the balanced scorecard focuses on customer satisfaction and loyalty. This dimension is important because it helps organizations to understand their customers' needs and to ensure that they are meeting those needs. Additionally, customer satisfaction can lead to increased sales and profits, as well as improved customer loyalty. The internal business processes dimension of the balanced scorecard focuses on improving the internal operations of the organization. This dimension is important because it helps organizations identify and eliminate inefficiencies, streamline processes, and improve quality. The learning and growth dimension of the balanced scorecard focuses on employee development and innovation. This dimension is important because it helps organizations create a culture of continuous learning and improvement, which can lead to increased employee satisfaction and productivity. 3. Illustrate what is meant by a “triple bottom line. Answer: The "triple bottom line" (TBL) is a sustainability-related framework that advocates for companies to consider not only their financial performance but also their impact on the environment and society. The triple bottom lines focus on people, the planet, and profit. The Triple Bottom Line (TBL) phrase was first used by British management consultant and sustainability expert John Elkington in the early 1990s. 4. What does birth order have to do with CEO leadership? Answer: Birth order, refers to the sequence of birth of children in a family, can have a significant impact on CEO leadership. Such as hierarchy and structure, birth order often determines the hierarchy and structure within a family. The eldest child is often considered the

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4 leader or the one who sets the rules, while the younger children look up to the eldest for guidance. This hierarchy can carry over into the CEO role, where the CEO may naturally assume a leadership position and establish rules and procedures within the organization. Moreover, birth order can influence personality traits, such as confidence, assertiveness, and competitiveness. For example, firstborn children are often considered more responsible, competitive, and confident. These traits can translate into leadership qualities in the CEO role, where a strong sense of responsibility and confidence can be valuable attributes.

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