Reference no: EM132188071
This assignment will cover chapter 10, 11, and 12. Chapter 10 examines the process of executing an organizational strategy. It has an emphasis on the conversion of a strategy into actions and good results for organizations.
The chapter explores how executing strategy is an operations-driven activity that revolves around the management of people and business processes.
It denotes that successfully executing a strategy depends on doing a good job of working with and through others, building and strengthening competitive capabilities, motivating and rewarding people in a strategy-supportive manner, and instilling a discipline of getting things done.
Chapter Ten defines executing the strategy as an action-oriented, make-things-happen task that tests a manager's ability to direct organizational change, achieve continuous improvement in operations and business practices, create and nurture a strategy-supportive culture, and consistently meet or beat performance targets.
Chapter 11 discusses five additional managerial actions that facilitate the success of a company's strategy execution efforts.
These include
(1) allocating to the drive for good strategy execution,
(2) instituting policies and procedures that facilitate strategy execution,
(3) using process management tools to drive continuous improvement in how value chain activities are performed,
(4) installing information and operating systems that enable company personnel to carry out their strategic roles proficiently, and
(5) using rewards and incentives to promote better strategy execution and the achievement of strategic and financial targets.
Chapter 12 explores the two remaining managerial tasks that shape the outcome of efforts to execute a company's strategy: creating a strategy-supportive corporate culture and exerting the internal leadership needed to drive the implementation of strategic initiatives forward and achieve higher plateaus of operating excellence.
Based on the content of those chapters, analyze how your company is prepared to execute strategies. The following questions will support you in achieving the objective of the assignment. Answer question by question then prepares an executive report of about 1,000 - 2,000 words (3-6 pages) describing all your rationale on the topic analyzed by you.
1. What impresses you about your company? Is it well-managed-why or why not? Does the management style at your company match what we in the business school have taught you about "how to manage?"
2. How would you characterize the competitive strategy of your case just in case it exists?
3. What are the key approaches your company has taken to promote successful implementation and execution of the strategy the company follows? How has it gone about building a capable organization? How have rewards and incentives been linked to key strategic targets?
4. Describe the culture at your company. What are the underlying values that shape its culture? Would you characterize your company's culture as healthy and largely supportive of good strategy execution? Explain.
5. How does the company instill and perpetuate its culture? Explain the role of the incentives in building the culture and facilitating strategy execution. Do these practices affect your company's ability to staff the organization with managers and employees capable of executing the strategy?
6. How do the company's structure and culture reflect their view of leadership?
7. As markets become more global, what challenges will the company face? Will you need to change its team processes? Its culture? Explain.
On a separate paper:
Best Buy is the largest consumer electronics retailer in the United States, with 2015 sales of over $50 billion.
The company competes aggressively on price with such rivals as Costco, Sam's Club, Walmart, and Target, but it is also known by consumers for its first-rate customer service.
Best Buy customers have commented that the retailer's sales staff is exceptionally knowledgeable about the company's products and can direct them to the exact location of difficult-to-find items.
Best Buy customers also appreciate that demonstration models of PC monitors, digital media players, and other electronics are fully powered and ready for in-store use.
Best Buy's Geek Squad tech support and installation services are additional customer service features that are valued by many customers.
How would you characterize Best Buy's competitive strategy? Should it be classified as a low-cost provider strategy? a differentiation strategy? a best-cost strategy? Explain your answer.