The main responsibility of the management is to ensure smooth operations of a firm. In addition, the management must ensure that the goals being pursued by the organization are attained. Essentially, the goals of the organization can only be reached when the inputs are transformed into the final products and services. In other words, the major function of the management is to ensure that they put in place strategies that will ensure effective transformation of the organization’s inputs into the desired outputs. In addition, the management must also be efficient in all other operations related to the company’s functioning. However, managing the organization effectively has remained a challenge for the most of managers. Understanding the dynamics occurring within the organization including the group and individual behaviors, changing processes as well as the relationships that exist between the processes is complex . Despite the complexity of these processes, the changes occurring Continue reading
Strategic Management Concepts
Advantages and Limitations of Prosci ADKAR Model
There are a number of models in management that aim to reduce resistance to change and control most organizational change processes. The Prosci ADKAR model is one of the best approaches introduced several years ago to support change in companies through the prism of its five major elements, namely awareness, desire, knowledge, ability, and reinforcement. The progress of the ADKAR model is evident today due to its evident advantages and the possibility to facilitate working processes. This model is developed from a study of 900 organizations across 59 countries over a 14-year period, carried out by the American research organization, Prosci. This model, developed by Jeff Hiatt, and first published in 2003, focuses on participatory approach of dealing with change. The model is simple to learn, makes sense, and focuses on the actions and outcomes required for change. ADKAR, in contrast to most other change management models, focuses on the human aspect Continue reading
4 Important Perspectives on Strategy
There are four perspectives or views on strategy, the classical approach to strategy, evolutionary perspective on strategy, processual approach to strategy and systematic perspective on strategy. Their features are described below. 1. Classical Perspective on Strategy In the classical approach to strategy perspective, profit is seen as the ultimate objective of the firm and profit targets can only be attainable through rational planning by the firm’s management. This perspective was designed by a businessman and historian Alfred Chandler, a theorist Igor Ansoff and a businessman Alfred Sloan. The perspective is based on three assumptions and they include; rational analysis, distinguishing conception from execution and the commitment of firms to maximize their profits. The major question is to position a business in markets where profits are likely to be maximized. The aim of the perspective is to ensure that there are returns on capital, and in this case, a focus on the Continue reading
The ADKAR Model of Change Management
Change management can be characterized as the procedure of altering or changing one or more angles of an association utilizing a planned system. Change management includes the implementation of one or more techniques, which organizations use to increment effectiveness and acquire their objectives. Theorists have provided different concepts of change management simply to understand the framework according to which organizations manage and lead change. The Prosci ADKAR model is one of the best approaches introduced several years ago to support change in companies through the prism of its five major elements, namely awareness, desire, knowledge, ability, and reinforcement. The progress of the ADKAR model is evident today due to its evident advantages and the possibility to facilitate working processes. Prosci’s ADKAR Model of Change Management Prosci’s ADKAR Model is a goal-oriented change management model that guides individual and organizational change. Created by Prosci founder Jeff Hiatt, ADKAR is an acronym Continue reading
Strategy Development and Leveraging Core Competencies
Strategy allows an organisation to deliver its vision. To develop a deliberate strategy which could potentially increase the sustainability of an organisation clearly requires the identification of core competencies but often a single strategy is not the answer. Organisations require a headline strategy to fit a brief which resonates the vision but several strategies are required over many departments such as research and development, production and marketing to deliver the main strategy. The process of strategy development is complex and methodology depends on several factors including the availability of resources and the external environment. The second step in strategy development following identification of core competencies, which is the process of leveraging resources so they can be exploited for maximum benefit. An organisation’s resources can be tangible, intangible or human and that these can be matched to its capabilities to eventually provide competitive advantage. This process of exploiting the unique combination Continue reading
Transferring Core Competencies for Organization Success
Development and expansion organizations’ core competency is one of the main success factors of many organizations. However, if organizations do not apply correct measures when transferring core competencies for one business to another, the likelihood of failure is high. Transfer of core competencies is one of the most important business diversification strategies of ensuring organizations reduce costs of starting over again in new business ventures. Transferring core competencies and resource strengths from one country market to another is a good way for companies to develop broader or deeper competencies and competitive capabilities that can become a strong basis for sustainable competitive advantage. It mostly works via capitalizing on operational relatedness, primarily applying the constrained multi-product strategy. This strategy offers organizations a chance of realizing and exploiting economies of scope, a crucial pathway for gaining a competitive advantage over other businesses. In addition, it guarantees organizations opportunities for utilizing existing expertise Continue reading