Strategic Control Essay
1. Why is strategic control important in the strategy implementation process? What are the four major types of strategic control? What are the pros and cons of each? 2. The balanced scoreboard approach has gained popularity in recent years. What is this approach and how does it integrate strategic and operational control? 3. Total quality management involves a continuous improvement approach. How is continuous improvement related to innovation? What is breakthrough innovation? What are the risks and rewards associated with innovation? 4. What is an entrepreneur? How is the entrepreneur different from the inventor, promoter, and administrator? What is intrapreneurship? How can it be enabled in an organization?
Expatriates & Working Overseas
Discussion Questions. Please post in Discussion Forum by Wednesday 12:00 am (PST) 1. Many expatriates face culture shock when assigned to foreign lands. What is culture shock? What would you recommend to minimize the impact of culture shock on global managers? 2. Describe how global firms can help expatriates and their spouses adapt to a new country and create a meaningful life abroad.
Paper: Women Expatriates
Write a 10-page paper concerning whether or not women should be solicited for overseas assignment, how can companies attract highly competent women, and how can they ensure that women will be successful? Detail the elements of a training plan for potential female expatriates. Post your final draft and response to Drop Box by Sunday 12:00 am (PST).
1. Why is strategic control important in the strategy implementation process? What are the four major types of strategic control? What are the pros and cons of each?
Strategic control is important, because it is involved with tracking a strategy as it is being implemented, detecting problems or changesin its underlying premises, and making necessary adjustments. Additionally, it is also involved with guiding action on behalf of the strategyas that action is taking place and when the end result is still several years off. The four major types of strategic control are:
1. PREMISE CONTROL
Strategies are based on certain planning hypothesis. Premise control is created to examin methodically and constantly whether the hypothesis, or also called premises, on which a strategy is grounded on are still vaild. In case premises are no longer valid, the strategy may have to be changed. It is important to recongnize and reject the invalid premise as soon as possible, because the strategy can be adjusted to reflect the reality.
2. STRATEGIC SURVEILLANCE
This strategy is formed to observe a broad range of events inside and outside of the organization which can influence the track of its strategy over time. One can uncover important yet unanticipated information by observing multiple information sources (trade magazines, journals). Such a strategy must be kept as unfocused as possible.
3. SPECIAL ALERT CONTROL
A special alert control is the thorough and fast reassessment of the company’s strategy, because of an unexpected and immediate event. An example of such an event is the an outside firm’s sudden acquisition of a leading competitor. This kind of an event will provoke an immediate and intense reassessment of the company’s strategy. Usually crisis teams handle the company’s initial response to the unforeseen events that might have an immediate effect on its strategy.
4. IMPLEMENTATION CONTROL
Strategy implementation takes place as a series of steps, activities, investments and acts that happen over a lengthly period of time. Managers mobilize resources, carry out special projects and employ or reassign staff. This kind of strategic control must be carried out as events unfold.. Strategic thrusts and milestone reviews are two types of implementation control. First one provides information that help determine whether the overall strategy is shaping up as planned, and the second one helps with monitoring the progress of the strategy at various intervals or milestones.
2. The balanced scoreboard approach has gained popularity in recent years. What is this approach and how does it integrate strategic and operational control?
The balanced scoreboard approach is a management control system that enables companies to clarify their strategies, translate them into action, and provide quantitative feedback as to whether the strategy is creating value, leveraging core competencies, satisfying the company’s customers, and generating a financial reward to its shareholders.
Just like startegic controls and comprehensive control programs, the balances scoreboard approach bring the entire management task into focus. Organizational leaders can adjust or completely change their company’s strategy based on feedback from a balanced scoreboard approach as well as other strategic controls.
3. Total quality management involves a continuous improvement approach. How is continuous improvement related to innovation? What is breakthrough innovation? What are the risks and rewards associated with innovation?
Continous improvement is the process of relentlessly trying to find ways to improve and enhance company’s products and proccesses from design through assembly, sales, and service. This process seeks to always find slight improvements in every aspect of what a company does so that it will result in lower coast, higher quality and speed, or faster response to one’s needs.
Breakthrough innovation is an innovation in a product, process, technology, or the cost associated with it that represents a quantum leap forward in one or more of these ways.
Breakthrough innovation involves a lot of risk yet brings high reward when successful. Companies with this approach need a complete commitment and are often going against mainstream markets in the process. .xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Innovation is the process of taking ideas and commercializing them into profitable products. Innovative products and services enjoy rapid growth and huge profit potential. In many cases these are disruptive technologies which change the face of how industries operate and monetize (e.g. Uber ridesharing is disruptive to the Taxi industry).
There are many risks associated with the uncertainty linked to innovation. Two major risks include Market and Technology risks. Market risks are related to market size, expected growth rate, and adoption rate. Technology risks include the new standards and technologies that will evolve within the industry. Companies want to avoid products/services that have small markets, low adoption rates, and outdated or non-standardized technology platforms.
4. What is an entrepreneur? How is the entrepreneur different from the inventor, promoter, and administrator? What is intrapreneurship? How can it be enabled in an organization?
Intrepreneur is an individual who brings together the innovative and creative ideas, and actions. He also poses solid management skills and business know-how. Inventor is exceptional for his technical talents, insights, and creativity, but their creations and inventions often are unsuccessful in becoming commercial realities. Promotor is in just the opposite from inventor – clever at devising schemes to push a product or service. Administrator is good at creating and maintaining efficient routines and organization. Entrepreneur has an unusual combination of talent: strenght in both creativity and management.
He is able to conceive and launch a new business as well as make it grow and succeed. Intrapreneurship is entrepreneurship in large organizations. Many companies now claim that they seek to encourage intrapreneurship. For intrapreneurship to work, individual intrapreneurs need freedom (self-selection, no hand-offs,the doer decides, corporate ”slack”, ”home run”, tolerance of risk, failure and mistakes, patient money, freedom from turfness, cross-functional teams, multiple options) and support to pursue perceived opportunities, be allowed to fail, and do more of the same more easily if they succeed.
1. Many expatriates face culture shock when assigned to foreign lands. What is culture shock? What would you recommend to minimize the impact of culture shock on global managers? Cultural shock is a natural response (stress) to a new, unpredictable, and uncertain environment. It results from a breakdown in an expatriate’s selective perception and effective interpretation systems. Suprisingly, the most effective global managers often suffer the most severe culture shock. Upon entering the foreign country, they lack an interpretation system based on the local culture and are therefore forced to inappropriately and ineffectively use their home cultures’ interpretative systems. This results as a realization that other people’s behavior doesn’t seem to make sense and that their own behavior doesn’t produce expected results.
In order to minimize the impact of culture shock, I would recommend that each global learns as much as possible about the country’s culture where they are going to work. It is important to understand and be aware of cultural differences, traditions, history, working techniques, and general information about the country. If the Manager is moving to a country where locals speak another language, my suggestion is to take a language course as soon as possible.
Knowing the language and being able to communicate with locals will take a big amount of stress off one’s shoulders. However completely avoiding cultural shock is almost impossible. Managers should take this fact into consideration and understand that this is a normal phase to slowly adjust and assimilate to a new living and working environment. For these types of work opportunities, Managers can benefit from this new life experience and exposure to foreign environments.