Business Policy and Strategy

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KEY TO IMPLEMENTATION AT ENTERPRISE:
1. STAFFING
* hiring and promoting a certain kind of person
* selection and use of employees
* issues:
* hiring new employees with new skills
* terminating employees with inappropriate or substandard skills * training existing employees to learn new skills
2. LEADING
* Specifying clear performance objectives and promoting a team-oriented corporate culture * Use of programs to better align employee interests and attitudes with a new strategy SUCCESSFUL INTEGRATION MANAGER:

* Deep knowledge of the acquiring company
* A flexible management style
* Ability to work in cross-functional project teams
* Willingness to work independently
* Sufficient emotional and cultural intelligence to work
* well with people from all background
A. STAFFING FOLLOWS STRATEGY
1. Hiring and Training Requirements Change
* Training and development
* reduction in scrap
* overall cost savings
2. Matching the Manager to the Strategy
EXECUTIVE TYPE
* Executives with a particular mix of skills and experiences and paired with a specific corporate strategy a) DYNAMIC INDUSTRY EXPERT
* an aggressive new chief executive with a great deal of experience in a particular industry b) ANALYTICAL PORTFOLIO MANAGER
* Someone with an analytical mind who is highly knowledgeable in other industries and can manage diverse product lines c) CAUTIOUS PROFIT PLANNER
* a person with a conservative style, a production or engineering background and experience with controlling budgets, capital expenditures, inventories and standardization procedures d) TURNAROUND SPECIALIST

* Challenge-oriented executive type
e) PROFESSIONAL LIQUIDATOR
* Called on by a bankruptcy court to close the firm and liquidate its assets

B. SELECTION AND MANAGEMENT DEVELOPMENT
1. Executive succession: insiders versus outsiders
Executive Succession
* It is the process of replacing a key top manager.
2. Identifying abilities and potential
Performance Appraisal System
* It is use to identify good performers with promotion potential. Assessment Center
* Use to evaluate a person’s suitability for advanced position. Job Rotation
* Moving people from one job to another.
SIX BROAD COMPETENCIES THAT A COMPANY BELIEVES ARE NECESSARY: * Practice the HP way
* Lead change and learning
* Know the internal and external environments
* Lead strategy setting
* Align the organization
* Achieve results
*
C. PROBLEMS IN RETRENCHMENT
DOWNSIZING
* Sometimes called “rightsizing”.
* The planned elimination of positions or jobs.
* Used to implement retrenchment strategies.

GUIDELINES FOR SUCCESSFUL DOWNSIZING:
1. Eliminate unnecessary work instead of making across-the-board cuts. 2. Contract out work that others can do cheaper.
3. Plan for long-run efficiencies.
4. Communicate the reasons for actions.
5. Invest in the remaining employees.
6. Develop value-added jobs to balance out job elimination.

D. INTERNATIONAL ISSUES IN STAFFING
* When making international assignments, they focus on transferring knowledge and developing global leadership. * They make foreign assignments to people whose technical skills are matched or exceeded by their cross-cultural abilities. * They end foreign assignments with a deliberate repatriation process with career guidance and jobs where the employees can apply what they learned in their assignments.

II. LEADING
* Use abilities and skills most effectively and efficiently to achieve organizational objectives. * Without direction, people tend to do their work according to their personal view of what tasks should be done, how, and in what order.

A. MANAGING CORPORATE CULTURE
* Can exert a powerful influence in the behaviour of all employees, it can strongly affect a company’s...
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