Wednesday, December 25, 2019
Managing A Diverse Workforce - 1716 Words
The topic that Iââ¬â¢m choosing is Chapter 17, ââ¬Å"Managing a Diverse Workforce.â⬠Although there is an improvement in the diversity in the workforce, there is still room for change. Businesses have made many changes to help enforce the laws that were passed regarding diversity in the workforce. Women have been integrated into the workforce and there also have been many immigrants from other countries that have been given a new start to the workforce in the United States. Laws of equal opportunity have been made to help increase the workforce diversity. The goal for full equality of women and persons of color in the workplace has not been fully met; however, the United Statesââ¬â¢ workforce has made a lot of progress. Diversity is when a person isâ⬠¦show more contentâ⬠¦There has also been a demand to increase women in the workforce because of more ââ¬Å"women-likeâ⬠jobs. Another problem that arose is the pay gap, which is when women and people of color are being paid less than white men. ââ¬Å"The percentage of female earnings has never exceeded 74% of male wages annually.â⬠Between 1978 and 1999 the weekly earnings of women full-time workers increased from 61 percent to 76.5 percent of men s earnings. However, the ratio appears to have plateaued in the mid-1990s. There are any differences in the treatment of men and women. They arise from average differences between the two groups in the expected value of productivity. Sometimes women leave jobs to start a family so companies do not want to waste their resources training women who may eventually leave. They do not want the responsibility of having to pay someone for a medical leave if a woman gets pregnant. They also will realize that eventually she will need to start working less or taking more days off because of her child or children. Which is completely normal, however, people do not see it as so. The glass ceiling is responsible for women and minorities not being able to achieve what they are capable of. A glass ceiling is an invisible barrier. For many of the years, women were not put in jobs that require top executives such as management and that is why many of them have not accumulated theShow MoreRelatedManaging diverse workforce1842 Words à |à 8 Pagesï » ¿ Modern Management MGT500- 2012 Managing Diverse Workforce Workforce diversity includes the obvious differences we see when we look around: race, gender, national origin, sexual orientation, age, religion and ethnicity. But itââ¬â¢s also the less obvious traits, the subtle differences that often register with us unconsciously, such as socioeconomic status, marital status, educational background, language, accent and appearance. We all have something that makes us unique, some specialRead MoreManaging A Diverse Workforce Assists1858 Words à |à 8 PagesManaging a diverse workforce assists in creating a vivacious and assorted business team with opportunities and challenges for people of all aptitudes and experiences, besides host country nationals. In addition, by managing a diverse workforce assists in the facilitation of change in a countryââ¬â¢s normal operating business practices. According to Hofstedeââ¬â¢s dimensions of culture model, one could better understand the challenges faced by multinational managers in regards to hu man resource managementRead MoreRole Of Managing Diverse Workforce In Organizations3690 Words à |à 15 Pages14 Managing Diverse Workforce in Organizations In the current age of globalization that is characterized by the intense competition among world corporations, strategic Human Resource Management (HRM) has become vital for the success of organizations. As a growing number of corporations around the world are turning into being multinational in nature, the workforce in such multinational corporations (MNCs) are increasingly becoming diverse, in regard to its cultural, economic, social, and personalRead MoreManaging A Diverse Workforce, Sexual Harassment, And Human Resource Management1502 Words à |à 7 Pagesimpact on the organizations success. Three Concepts. Group 4 concluded the three concepts that are most important concepts from chapter 7 to an organization are the challenges of managing a diverse workforce, sexual harassment, and human resource training and development. Managing a Diverse Workforce. Managing workplace diversity is an important requirement for managers and the organization. Issues regarding workplace diversity should be addressed openly along with policies designed to protectRead MoreWeek 6 Assignment 2: the Hiring Process and Managing a Diverse Workforce1110 Words à |à 5 PagesWeek 6 Assignment 2: The Hiring Process and Managing a Diverse Workforce To purchase this visit here: http://mindsblow.us/question_des/Week6Assignment2TheHiringProcessandManagingaDiverseWorkforce/2781 Contact us at: help@mindblows.us HRM 510 Week 6 Assignment 2: The Hiring Process and Managing a Diverse Workforce Due Week 6 and worth 400 points Imagine that you are the HR Director at your current organization or an organization with which you are familiar. As the HR Director, you must useRead MoreWorkforce Diversity1507 Words à |à 7 PagesI. INTRODUCTION Workforce diversity addresses differences among people within an organization. Workforce diversity means that organizations are becoming a more heterogeneous mix of people from different categories. Diversity refers to the co-existence of employees from various socio-cultural backgrounds within the company. Diversity includes cultural factors such as race, gender, age, colour, physical ability, ethnicity, education, language, lifestyle, beliefs, economic status, etc. Diversity requiresRead MoreDiversity in Workplace1483 Words à |à 6 PagesDIVERSITY: GROWTH AND IMPORTANCE OF MANAGING Harpreet Singh City University ABSTRACT: As companies are becoming more and more diverse it s becoming more and more important for companies to understand and manage it. The people of different background, races, religion creates diverse workforce. There is an importance of having diverse workforce to provide better performance. There are perspectives of managing the diverse workforce, which require organization leaders and managersRead MoreEssay about Managing Diversity in the Workplace1449 Words à |à 6 PagesIntroduction The worlds increasing globalization requires more interaction among people from diverse cultures, beliefs, and backgrounds than ever before. People no longer live and work in an insular marketplace; they are now part of a worldwide economy with competition coming from nearly every continent. For this reason, profit and non-profit organizations need diversity to become more creative and open to change. Maximizing and capitalizing on workplace diversity has become an important issueRead MoreManaging Diversity Within An Organization1674 Words à |à 7 PagesManaging Diversity is often defined as a ââ¬Å"management philosophy of recognising and valuing heterogeneity in organisations with a view to improve organisational performanceâ⬠(Ozbilgin and Tatli, 2011). Hence recognising the wide variety of qualities possessed by people within an organisation and creating an environment that understands, values and utilises the differences within people. Due to the rapidly growing trends o f a more diverse workforce, diverse market and globalisations of businesses,Read MoreManagement Analyst720 Words à |à 3 Pagesapproach to managing diversity, recruitment and retention are a critical component of diversity management. Summarize the issues involved in recruiting and retaining a culturally diverse workforce. Regarding diverse employees and diverse employees and diverse markets, Canas and Sondak argue that better-performing companies may simply attract the best talent among all groups of workers. Explain the meaning, and discuss whether you agree disagree. Recruiting and retaining a culturally diverse workforce
Tuesday, December 17, 2019
Daniel Shays As An American Officer - 1730 Words
Daniel Shays Daniel Shays served role as an American officer in the American Revolution from 1775 to 1780 and also became known as one of the leaders of Shays Rebellion, which lasted from 1786 to 1787. In 1780 he resigned from the army, and settled in Pelham, Massachusetts, where he held numerous town offices. Soon after, wealth reigned in America at the signing of the peace treaty in 1783, but was quickly transformed into a severe economic depression. He began his rebellion when property holders, including himself, began losing their belongings through confiscations for unpaid debts and taxes and became subject to debtorââ¬â¢s imprisonment. Protests then followed, with threats of violence against the courts conducting the enforcements and arraignments. This is when Shays arose as one of the several leaders of what came to be known as Shays Rebellion. After the Rebellion was over, he and approximately a dozen others were sentenced to death by the Supreme Court of Massachusetts. However, towards the end of the rebellion, Shays had escaped to Vermont, soon afterwards he moved to Schoharie county, New York, and then a few years later moved further west to Sparta, New York. Shays, in his old age, was granted a retirement pension by the federal government for the five years he served in the Continental Army without pay. He lived the last couple years of his life in poverty, as a heavy drinker and supported himself on his pension by working a small piece of land. He laterShow MoreRelatedDaniel Shays Would you work for a government that expected you to put your life in jeopardy, did1000 Words à |à 4 PagesDaniel Shays Would you work for a government that expected you to put your life in jeopardy, did not pay you for your service and then try to seize your house and property to settle your debts? This is exactly what Daniel Shaysââ¬â¢ government tried to do to him after returning home injured during the Revolutionary War. So why did he choose the path and become a member of the military? He didnââ¬â¢t, he had little choice due to financial debts! He was like many other young Americans at the time; withoutRead MoreEssay on Shays Rebellion1481 Words à |à 6 Pagestaxes that had to be paid in cash. According to historian Leonard Richards, ââ¬Å"Taxes levied by the state [Massachusetts] were now much more oppressiveââ¬âindeed many times more oppressiveââ¬âthan those that had been levied by the British on the eve of the American Revolutionâ⬠(Richards 88).Ninety percent of all taxes collected were for property or poll taxes (Smith). Each family had to pay a tax for every male that was older than sixteen in the household under the poll tax, leaving the farmer who had grownRead MoreThe Articles Of Confederation And The Constitution899 Words à |à 4 PagesThe Constitution remains as relevant today as it did over two hundred years ago. Americans have lived their lives through the law of the Constitution of the United Staes of America for several years. The Constitution has kept our nation together and has kept us strong. ââ¬Å"The Constitution defines the United States of America. This greatest of American documents not only establishes our system of government; it limits the power of that government, specifying our irrevocable rights and privileges asRead MoreThe Articles Of Confederation And The United States994 Words à |à 4 Pagesestablished the functions of the national government of the United States after it declared independence from Great Britain. The Articles provided a system for the Continental Congress to direct the American Revolutionary War, conduct diplomacy with Europe and deal with territorial issues and Native American relations. The articles were supposed to be a legislative body serving as the nationââ¬â¢s executive rather than a parliament. It had full power over foreign affairs and questions of war and peace, itRead MoreExplain The Strengths And Weaknesses Of The Articles Of Confederation857 Words à |à 4 Pageswith the needs of citizens. They also complained that it failed to guarantee individual liberties, so the bill of rights was made, the bill of write was a bill which consisted of the 10-constitutional amendment which guaranteed certain rights to American citizens in all circumstances. This bill was put forth by antifederalists who were afraid of forms of government intervention on personal liberties. These events took place in the second constitutional congress, another event that happened was theRead MoreThe War Of The United States1489 Words à |à 6 Pagesvarying degrees of viability. During the dawn of the United States of America, Congress led the nation in its affairs. The members distinguished themselves into two ideologies that differed in terms of managing the army during the peacetime after the American Revolution. Nationalists wanted to keep a large professional standing army, akin to the British, and to become allies with the British. They believed a standing army would help protect America and impress European powers. Anti-Nationalists wantedRead MoreThe War Was The American Revolution1441 Words à |à 6 PagesAmerican had fought many wars in its long life, but the most impacting war was the American revolution. The American revolution created many revolutions in American society from 1775 to 1800, but to understand why we have to start from the beginning. The American revolution started in 1763 and finished in the year 1783. This revolution consisted of the thirteen colonies uniting under on nation to fight the authority of Great Britain. The American revolution was the effect of political, social, Read MoreThe Articles of Confederation Essay828 Words à |à 4 Pagesprobably achieved its most important success in the handling of west diplomatic and financial concerns. In evaluting post-American Revolutionary War, overall the Articles of Confederation did not provide the United States with an effective government due to the lack of central power. Upon Independence, financial problems troubled the Confederation government. During the American Revolutionary War for independence, Congress and the states had printed good faith paper currency. It became virtuallyRead More The Whiskey Rebellion Essay1436 Words à |à 6 PagesSpain and Britain were wreaking havoc along our borders. British troops, violating the Treaty of Paris, refused to vacate their garrisons along the Great Lakes; Spain, who held New Orleans, closed the Mississippi River to American shipping below Nachez and actively encouraged American settlers to break away from the Union and establish relations with them; Westerners in Kentucky, Tennessee, Virginia and Pennsylvania were subjected to attacks by marauding Indians (often instigated by the Spanish and British)Read MoreAbandoning The Articles Of Confederation For Theu.s. Constitution Essay1432 Words à |à 6 Pages1781. That same year the Articles of Confederation was ratified after four years. Americans needed a functioning government we finally got our independence from Britain with the Treaty of Versailles in 1783. Little success came from the Articles of Confederation it was a weak confederation of the 13 state s and it caused economic problems for the Americans. Although there might be different opinions as to why the Americans abandoned the Articles of Confederation. However I believe that because of a weak
Monday, December 9, 2019
Ethics -Radio Shack Ceo Sacandal free essay sample
Ethics is the consideration of how human actions can improve or deteriorate the environments in which we work and live. In the wake of recent corporate scandals like Enron and WorldCom leading to trials and imprisonment of previously powerful (Chief Executing Officer) CEOââ¬â¢s public trust in CEOââ¬â¢s has diminished. Therefore when the story about the forged academic credentials of Dave Edmondson, CEO of Radio Shack came it re-ignited the mistrust. This paper will provide a brief background of the scandal and detailed analysis of the ethical issues involved and whether the actions taken by RadioShack were ethical or not. Background: Dave Edmondson was on a fast career track and was named CEO of Radio Shack in May 2005. In February, 2006 Radio Shack announced that its CEO, David Edmonson has resigned over questions raised over his resume. The Fort Worth Star- Telegram discovered that he had not earned degrees in theology and psychology from Heartland Baptist College as claimed on his resume. Moreover Edmonson had only finished two semesters at the college and the college did not even offer a psychology major. Edmonson admitted to the errors calling them ââ¬Å"misstatementsâ⬠and resigned in the aftermath of the corporate scandal. Analysis: The main issue about this case is not just forging of the academic credentials but how Radio Shack handled the case that generated criticism from public and turned it into a media circus. The basic hypernorms of honesty and integrity were not met by RadioShack in handling the situation. Edmondson did not display fairness towards Radio Shack by trying to communicate the value of knowledge via false degrees. It was not just the disappointing fact that Edmondson lied on his resume but what was equally troubling was the individual and corporate response to the scandal. Radio Shack supported its CEO and failed to give public any substantial answers. The ethical question then becomes that what is the responsibility of board of directors? Should they oversee the personal ethics of a CEO as long as he is driving the shareholders maximum value and yielding higher profits for he firm or they should step up and take responsibility for their own short comings, take the required action and set an example of driving the company by ethical values and standards not just profits? Radio shack displayed lack of responsibility as a company when it came to take ownership of the issue and failed to address the public with compassion and was unable to provide clarification regarding the r esume issue. From philosophical approach- consequentialism view holds that whether an act is morally right depends only on the consequences of that act. Edmondsonââ¬â¢s decision to lie on his resume turned out to bring good consequences only for him in terms of a career hike. Deontology brings up these questions: Was Edmondsonââ¬â¢s decision legal, fair, just or right? No, it was not and transparency and information sharing regarding the falsified resume might have led to different outcomes both for Edmondson and RadioShack. Considering the virtue ethics, did Edmondson and RadioShackââ¬â¢s decision demonstrate expected virtues? The company had built its image and reputation over many years. This reputation entailed virtues of trustworthiness, compassion, integrity and responsibility. It did not seem that Edmondsonââ¬â¢s decision to not come clean was based on any of these considerations. He bluntly violated the virtue ethics. The stakeholders involved were shareholders, board of directors, employees and common people. He could be cut slack for being an ambitious young individual at the start of his career but how can the ignorance be overseen that in the years of making towards a CEO he never came clean. Infact when the scandal was raised and he was confronted he did not even admit right away. This displays lack of character and credibility. A companyââ¬â¢s leader should be transparent and trustworthy. From a modified moral standards approach I feel that there wasnââ¬â¢t any net benefit to the company from his falsified educational claims. It was also not fair to all the stakeholders involved as there could have been a better candidate who got rejected due to a truthful but less flashy resume. Also the distribution of benefits was enjoyed by the CEO whereas the burdens were shared by him and the company equally in terms of a bad reputation and loss of public trust. Also RadioShack was not consistent with the virtues expected by its employees as they did not bring them and other stakeholders in the loop during the media frenzy which led to a discontented employee atmosphere. This also leads to question the monitoring and compliance at RadioShack. They had a code of conduct and code of ethics in place detailing the responsibilities of the employees but how realistically this was being followed can be easily criticized based on Edmondsonââ¬â¢s case. I believe that companyââ¬â¢s code of ethics should be incorporated in its values and system actions. Corporate risk can be reduced and even mitigated if the organization can align values for ethical motivation and action. Edmondson did take accountability of his unethical actions later and RadioShackââ¬â¢s board of directors also learned the hard way that blind support of a CEO without any solid evidence is unwise and can tarnish the reputation of the company. If they had accepted and reacted to responsibility as soon as the scandal broke the company would have been able to save its reputation and maintained credibility.
Monday, December 2, 2019
Simulation Reflection Essay Example
Simulation Reflection Paper This paper is a reflection on three simulations as each relates to strategic planning. The first simulation, ââ¬Å"Thinking Strategically,â⬠highlights the importance of environmental scanning. The second simulation, ââ¬Å"Developing Grand Strategies,â⬠challenged decisions made for a company which lead to effective strategy formulation and choices. The third simulation, ââ¬Å"Creating a Strategic Road Map,â⬠provided a simulated experience of how to build a strategic roadmap focusing on the importance and effectiveness of formulating action plans and goals. This reflective approach will convey the lessons learned relative to the importance and effectiveness of the key learning points obtained through each simulation. The challenges faced by strategic planners will be discussed from the discoveries of lessons learned in the three simulations. Environmental scanning provides the opportunity for detailed insight for a companyââ¬â¢s current position as well as desired position in the industry. Scanning discoveries provide the company with awareness to warnings signs of external conditions facing competitors and the economy. As shown in the simulation, ââ¬Å"Thinking Strategically,â⬠environmental scanning encourages a company to evaluate and promote an appropriate vision and an improved sense of direction for all stakeholders. The information gathered in an environmental scan, also provides the company with future trends data. This discovery information can warn company officials of the rising or declining of trends on the horizon. The simulation used a SWOT analysis as an effective tool of environmental scanning. We will write a custom essay sample on Simulation Reflection specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Simulation Reflection specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Simulation Reflection specifically for you FOR ONLY $16.38 $13.9/page Hire Writer An analysis of strengths and weaknesses is obtained through internal sources, whereas, opportunities and threats information is obtained externally. All SWOT factors are critical for the companyââ¬â¢s successful strategy. Analyses of each including a matched pair analysis are essential in determining the future prospects of the given industry and developing a specific industry niche. In the simulation, the bike company, BJââ¬â¢s, built a business on baby boomers. BJââ¬â¢s brand image is geared toward male extreme bikers. However, women comprise almost half of the biking industry. BJââ¬â¢s identify key strategy concepts by the use of SWOT analysis to achieve the long-term vision of becoming the top ranking specialty bicycle retailer in terms of revenue in the next five years. The approach to increase marketing efforts towards women, including hiring female consultants, is the most logical in a global environment where womenââ¬â¢s sports and athleticism is gaining in popularity. Scanning oneââ¬â¢s environment creates a clearer global portrait and significantly impacts all decisions necessary for optimal business outcomes. Throughout the simulation, the primary lesson learned was the value of using various sources of information and implications that such can have on outcomes of strategic planning. BJââ¬â¢s and any given company can benefit through using material pertaining to statistical studies in relation to historical data gained from previous years of operation reports. For example, industry, population, age, race, and geographic areas can separate this information and locations to assist with making well-informed decisions. The results of such analysis can provide a clear direction necessary for maximizing strategic plan designs. This evaluation will aid companies in understanding how to best hedge against competing practices by knowing the appropriate target audience and building company opportunities designed richly to attract such consumers, clients and employees. ââ¬Å"The two most prominent sources of competitive advantage can be found in the businesss cost structure and its ability to differentiate the business from competitors,â⬠(Pearce and Robinson, Ch. 7). Without environmental scanning, strategic planners will offer information to businesses blindly. Mere internal information can be beneficial for company cultural concerns, but the external information can prove more beneficial based on industry standards. The expense of the industrial analysis reports may seem extravagant, but when exercised properly are very valuable for companies looking to surpass competition. This simulation implies a one time evaluation suits the company, but as Sam Harrison states in his article about Finding Ideas that Make a Difference, Never stop creating. Never stop exploring. Never stop appreciating, (Journal of Business Strategy, 2008). The second simulation, ââ¬Å"Developing Grand Strategies,â⬠was focused on the development of a grand strategy for a company. A lesson learned has been the ability to apply analytic tools and concepts to aid in the development of strategic planning. The toy company, Oz, was the third largest toy manufacturing company in the country. The company reported $3. 5 billion in revenue. Industry reports viewed at Oz predicted that the sales curves were flattening. Oz decided to take a proactive approach to develop a grand strategy that was suitable to the industry reports. ââ¬Å"Strategies, that involve adoption of new technologies, also have sweet spots. Connecting with the right strategy at the right time supported with the right resources will produce the best possible results,â⬠(Oliver, 2002). Oz needs a proactive strategic response to an industry situation impacted by consolidation among manufacturers. Asian imports that have led to an influx of cheap toys and changes in trends such as the increasing purchase power of consumers. The appropriate Grand strategies need to be selected based on the firmââ¬â¢s quadrant positioning in the Grand strategy cluster. A firmââ¬â¢s quadrant position is identified using its competitive position and the marketââ¬â¢s growth capability. The firmââ¬â¢s competitive position can be identified using a SWOT matrix and industry report. The industry report also can reveal whether the market is a slow growth or rapid growth market. The selected Grand Strategies based on the firmââ¬â¢s quadrant positioning helps in selecting the correct action plan to meeting the firmââ¬â¢s goals. If the strategies are incorrect, the firmââ¬â¢s action plans may not be accurate and may not help the firm meeting its goals. Developing a vision and determining what is critical for the business will aid in making key business decisions. In experiencing the Grand Strategy with Oz, the strategy used is in response to the internal and external conditions of the business systematic processes. As the company builds on strengths and weaknesses, the strategy is to create and sustain a competitive advantage. If a potential opportunity arises, the opportunity should be consistent with what is ââ¬Å"important to the values (and vision) of the business. The key point in a business strategy is figuring out what you are not going to do, not just what you are going to do,â⬠(The Bangkok Post, 2002). The Grand Strategy Cluster is the ideal platform for the selection of appropriate Grand Strategy. In conjunction with the Grand Strategy Cluster, the SWOT Matrix helps to identify a companyââ¬â¢s position. Strengths and Weaknesses in the SWOT matrix show the firmââ¬â¢s internal face. Opportunities and Threats show the firmââ¬â¢s external face. The SWOT matrix is important to identify the firmââ¬â¢s competitive positioning. The Grand strategy cluster is important to select the strategies based on the firmââ¬â¢s competitive position and the marketââ¬â¢s growth capability. Strategic planners can use the grand strategy cluster to plan for appropriate short term and long-term activities relevant to the company. But use of the grand strategy cluster could lead to greater challenges in choosing the right strategy in the real world. If the market is changing too fast, focusing on one tactic can become difficult to identify the ideal strategy. If external threats exist in the middle of executing a strategy, the firm may find it difficult to change quickly to address the threats. Similarly, the firmââ¬â¢s goal of keeping the shareholders happy may conflict with some of the selected strategies. The shareholders and the market may not see some of the strategies as positive. As an example, the firm may like to liquidate a business function considering its Grand strategy cluster quadrant positioning while the shareholders and the market may consider it as an inappropriate strategy. Sometimes, the strategic planners may not have adequate data to make an appropriate decision. Planners may need to make assumptions in the event of unavailability of data and the assumptions may be wrong and may create issues. The above are some of the challenges for strategic planners while selecting the right strategy. In looking at the ââ¬Å"Creating a Strategic Road Mapâ⬠simulation, there were several lessons applied regarding the importance and effectiveness of the formulation of action plans and goals. The basis for the formulation of action plans and goals are geared toward long-term company objectives. From the simulation, ConstructWell is the leading provider in the specialized construction service focusing on commercial and infrastructure segments in North America. The company dominated the largest construction market. Organizational success made the company vulnerable for a takeover by a larger corporation. ConstructWell decides to set long-term objectives that countered the take over bid and made long-term strategic decisions designed to rank the company at the top of the industry. A team was formulated to develop a strategic roadmap to accomplish the objectives that had been set. A strategic roadmap helps to place organizational strategies keeping in mind with the company vision and long-term objectives. Once an organization has identified workable long-term goals, the company can begin work on developing strategies to meet those set goals. Every decision made within the firm must be done in alignment with the ultimate goal of meeting the described long-term objective. Using the SWOT chart is integral in this step. Goals with specific tangible measures of progress assist an organization in measuring progress in a manner consistent with the long-term objectives of the organization by having the knowledge of the desired direction. In conclusion, the first simulation, ââ¬Å"Thinking Strategically,â⬠highlighted the importance of environmental scanning. The second simulation, ââ¬Å"Developing Grand Strategies,â⬠challenged decisions made which lead to effective strategy formulation and choice. The third and final simulation, ââ¬Å"Creating a Strategic Road Map,â⬠provided a simulated experience of how to build a strategic roadmap and the importance and effectiveness of formulating action plans and goals. These are the challenges that currently face strategic planners. To remain competitive, companies traditionally trim balance sheets cut costs, and return to their core competencies. Companies search for alternatives in handling procedures that are essential to their businesses. Many of todayââ¬â¢s companies, like the mentioned in the three simulations, are all challenged to produce an outcome that is beneficial to the bottom line of the business. Globalization, rapid change, outsourcing and other major forces shaping todayââ¬â¢s economic landscape has ushered in multi-business strategic decision making that focus a mixed structure in different countries to become the global leader in the industry. Defining a companyââ¬â¢s strategic initiatives and mapping the strategies from a SWOT analysis in each simulation proved important as a strategic planner. Based on long-term objectives, the manager defines the strategies and the corresponding goals that would enable the business to achieve successful status. References The Bangkok Post. (2003). `Shooting for the stars through strategic planning. Retrieved on April 20, 2008, from ProQuest. Creating a Strategic Roadmap Simulation (2008). University of Phoenix: Retrieved on April 9, 2008, from website, http://mycampus. phoenix. edu. Developing Grand Strategies Simulation (2008). University of Phoenix: Retrieved on April 6, 2008 from website, http://mycampus. phoenix. edu. Harrison, S. (2008). Finding Ideas that Make a Difference. Journal of Business Strategy. Retrieved on April 19, 2008, from http://www. americansentinel. edu/JOBS//ideaspotting. shtml Oliver, R. (2002). The Strategic Sweet Spot. The Journal of Business Strategy. Retrieved on April 19, 2008, from EBSCOhost. Pearce-Robinson (2004). Strategy Implementation Ninth Edition: Retrieved on April 17, 2008, from Strategy Formulation: Formulating Long-Term Objectives and Grand Strategies. Thinking Strategically Simulation (2008). University of Phoenix: Retrieved on March 30, 2008, from website, http://mycampus. phoenix. edu.
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