Management

Basic Concepts of Strategic Management 41 For example, the interconnected nature of the global financial community meant that the mortgage lending problems of U.S. banks led to a global financial crisis that started in 2008 and impacted economies for years. The worldwide availability of the Internet and supply-chain logistical improvements, such as containerized shipping, mean […]

Introduction to Strategic Management and Business Policy Similarly, for a very long time, many established companies viewed innovation as the domain of the new entrant. The efficiencies that came with size were considered to be the core competitive advantage of the large organization. That view has proven to be a recipe for failure. The ability

Introduction to Strategic Management and Business Policy At the time, the former king of Thailand, Bhumibol Adulyadej, showed concern for the issues of possible unemployment and granted a purchase order to TMT to produce a Toyota Soluna (Vios) and prolong the working period of Thai workers. Instead of selling the vehicle, TMT presented it to

Explain strategic decision-making modes 1-8. Use the strategic audit as a method At the heart of the Toyota Way are two pillars—continuous improvement and respect for people. These are supported by five values: challenge, continuous improvement (kaizen), seeing for yourself (genchi genbutsu), respect, and teamwork. In 1997, Thailand, a regional hub of Toyota’s auto manufacturing

Describe the basic model of strategic man- agement and its components 1-6. Identify some common triggering events that act as stimuli for strategic change 1-7. Explain strategic decision-making modes 1-8. Use the strategic audit as a method of analyzing corporate functions and activities 1-1. Discuss the benefits of strategic management 1-2. Explain how globalization, innovation,

Why is it necessary for an organization to align its managers with the corporate strategy to ensure better organizational performance? 4Staffing decisions are considered an important component of strategic planning and the man- agement process. Why? How is strategy imple- mentation process connected to the decisions resulting from a staffing strategy? 10-4. Why is it

Structure for an MNC Board of Directors President Operating Companies U.S. Operating Companies Europe* Operating Companies Latin America Operating Companies Africa Operating Companies Asia* Product Group B Product Group D Corporate Sta� Product Group A Product Group B Product Group C R&D *NOTE: Because of space limitations, product groups for only Europe and Asia are

Strategy Implementation and Control Simultaneous pressures for decentralization to be locally responsive and central- ization to be maximally efficient are causing interesting structural adjustments in most large corporations. This is what is meant by the phrase “think globally, act locally.” Companies are attempting to decentralize those operations that are culturally oriented and closest to the

Scanning the Environment MyManagementLab® Go to mymanagementlab.com to complete the problems marked with this icon . End of Chapter SUMMARY Every day, about 17 truckloads of used diesel engines and other parts are dumped at a receiving facility at Caterpillar’s remanufacturing plant in Corinth, Mississippi. The filthy iron engines are then broken down by two

CORE AND DISTINCTIVE COMPETENCIES Resources are an organization’s assets and are thus the basic building blocks of the organization. They include tangible assets (such as its plant, equipment, finances, and location), human assets (the number of employees, their skills, and motivation), and intangible assets (such as its technology [patents and copyrights], culture, and reputa- tion).1