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Importance of Work-Life Flexibility

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Work Life Balance and Wellness in Organizations

Human Resource Management

What is Work Life Flexibility?

Modern Management Concepts

The Relevance of Stakeholder Management in International Business Context

International Business

Strategic Issues in Managing Technology

Due to increased competition and accelerated product development cycles, innovation and the management of technology is becoming crucial to corporate success. The importance of technology and innovation must be emphasized by people at the very top and reinforced by people throughout the corporation. Management has an obligation to not only encourage new product development, but also to develop a system to ensure that technology is being used most effectively with the consumer in mind. External Scanning: Corporations need to continually scan their external societal and task environments for new developments in technology that may have some application to their current or potential products, Stakeholders, especially customers, can be important participant in the new product development process. Technological Developments: Focusing one’s scanning efforts too closely on one’s own industry is dangerous.   Most new developments that threaten existing business practices and technologies do not come from existing competitors or even from Continue reading

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Strategic issues in Not-for-Profit (NFP) organizations

Not-for-Profit (NFP): An organization that provides some service or good with no intention of earning a profit. NFP includes Private nonprofit corporations (such as hospitals, institutes, private colleges, and organized charities) as well as Public governmental units/agencies (such as welfare departments, prisons, and state universities) Types of Not-for-Profit Organizations Importance of Revenue Source: NFPs are dependant on dues, assessments, or donations for their revenue sources. In NFP organizations there is likely to be a very different sort of relationship between the organizations providing and the person receiving the service. Because the recipient of the service typically does not pay the entire cost of the service, outside sponsors are required. The pattern of Influence on Strategic Decision Making: Pattern of influence is derived from its source of revenues. Those who fund the NFP are likely to have a significant influence on its operations The usefulness of Strategic Management and Techniques: some Continue reading

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Corporate Entrepreneurship

Corporate entrepreneurship (also called intrapreneurship) is defined by Guth and Ginsburg as “the birth of new business within existing organizations, that is, internal innovation or venturing; and the transformation of organizations through renewal of the key ideas on which they are built, that is, strategic renewal. A large corporation that wants to encourage innovation and creativity within its firm must choose a structure that will give the new business unit an appropriate amount of freedom while maintaining some degree of control at headquarters. Burgelman proposes that the use of particular organizational design should be determined by (1) the strategic importance of the new business to the corporation and (2) the relatedness of the unit’s operations to those of the corporation.   The combination of these two factors results in nine organizational designs for corporate entrepreneurship. Designs for Corporate Entrepreneurship Direct Integration: A new business with a great deal of strategic Continue reading

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Different Challenges Faced by the Multinational Companies (MNC’s)

A multinational company  (MNC) is an enterprise that manages production or delivers services in more than one country. There are some challenges faced by MNC’s that transact business in international markets which can hinder its competitiveness hence its controversies and these are as follows; Market Imperfections It may seem strange that a corporation has decided to do business in a different country, where it doesn’t know the laws, local customs or business practices of such a country is likely to face some challenges that can reduce the manager’s ability to forecast business conditions. The additional costs caused by the entrance in foreign markets are of less interest for the local enterprise. Firms can also in their own market be isolated from competition by transportation costs and other tariff and non-tariff barriers which can force them to competition and will reduce their profits. The firms can maximize their joint income by Continue reading

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Strategic Control Process

Strategic Control “ It is the process by which managers monitor the ongoing activities of an organization and its members to evaluate whether activities are being performed efficiently and effectively and to take corrective action to improve performance if they are not” -Sam Walton Managers exercise strategic control when they work with the part of the organisation they  have influence over to ensure that it achieves the strategic aims that have been set for it. To do this effectively, the managers need some decision making freedom: either to decide what needs to be achieved or how best to go about achieving the strategic aims. Such decision making freedom is one of the characteristics that differentiate strategic control from other forms of control exercised by managers (e.g. Operational control – the management of operational processes). Strategic controls take into account the changing assumptions that determine a strategy, continually evaluate the strategy Continue reading

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Strategic Control and Operational Control

Strategic Control Strategic control focuses on the dual questions of whether: (1) the strategy is being implemented as planned; and (2) the results produced by the strategy are those intended.” Strategic control is “the critical evaluation of plans, activities, and results, thereby providing information for the future action”. There are four types of strategic control: premise control, implementation control, strategic surveillance, and special alert control Premise Control: Planning premises/assumptions are established early on in the strategic planning process and act as a basis for formulating strategies. Premise control has been designed to check systematically and continuously whether or not the premises set during the planning and implementation processes are still valid. It involves the checking of environmental conditions. Premises are primarily concerned with two types of factors: Environmental factors (for example, inflation, technology, interest rates, regulation, and demographic/social changes). Industry factors (for example, competitors, suppliers, substitutes, and barriers to entry). Continue reading

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