Strategic Management Case
Over the last 20 years, the Balance Scorecard has been used as an approach by corporations to improve their competitiveness and ability to adapt to changes inside the industry. This is based on several fundamental principles to include: financial, the internal business process, learning / growth and the customer. Financial is when the firm is looking at tactics that will measure the monetary impact of the strategy on the organization. The basic idea is to be able to understand shareholders views of management and the company. The internal business process is when executives are examining various strategies inside the firm that will help them to become better in delivering products to customers and achieving the goals of shareholders. Learning & growth is when there is a focus on improving and creating value for different stakeholders. The customer is when management is concentrating on consumer perceptions and how they are impacting the organization. These elements are important, because the combination of them is providing a basic foundation for helping to identify problems and quickly adapt to transformations. ("Balance Scorecard Basics," 2011)
In the case of Porsche, they used this strategy to allow the company to redefine itself and the way it reaches out to customers. To fully understand what is happening requires examining the current strategy of the firm and possible alternatives for dealing with any issues. This is when we can offer specific insights about how the Balanced Scorecard approach can help a business to address the various challenges they are facing. (Carpenter, 2009, pp. 761 -- 767)
The Current Situation at Porsche
Porsche had tremendous success during the 1980's. This is from their unique designs and the experience for most customers using their products. The problem was that the company started to see a loss of influence among their core demographic of consumers (the affluent). This is from other companies introducing SUV's, sedans and sport cars. The fear at Porsche was that the company needed to adapt to these changes to remain competitive. Otherwise, the brand name and image would suffer. To prevent this from happening, executives decided to use the Balance Scorecard approach. (Carpenter, 2009,...
"Our growth strategy is to increase the number of customers benefiting from repeatable supply chain solutions, particularly in the healthcare, high tech and retail sectors, and to increase the amount of small package transportation from these customers. We intend to leverage our small package and freight customers through cross-selling the full complement of UPS services" (UPS 2008 Annual Report). Focus on environmentally friendly operations -- UPS has already declared a
As the combination of the different pieces, would allow three out of the four business segments to be able to see earning growth between 2007 and 2008, when the economy was severely contracting. (Exhibits 2009) Using appropriate theoretical frameworks evaluate alternative options to create growth? An alternative option that company could use to achieve growth would be: to acquire a weaker competitor. One way to do this is: to evaluate the
The main advantage is that the stories are well documented and written in an objective manner. 2008, GSK Outlines Plans to Become More 'Biotech-like', Fierce Biotech, http://www.fiercebiotech.com/story/gsk-outlines-plans-become-more-biotech/2008-06-10 last accessed on June 3, 2009 2009, GlaxoSmithKline Plc., Hoovers, last accessed on June 3, 2009 -- Hoovers is a centralized database that reveals information on multiple organizations. The benefit is that the data offered is extensive and comprises features such as industry forecasts,
However the lack of stability in these partnerships is a major weakness for the company today. In 2008, Apple released the following graphic illustrating just how pervasive they believed video-based devices would be, which clearly makes the value of digital content providers critical to their future business model. Market Assessment of Video-Capable iPods source: (Apple Investor Relations, 2008). Implementation: Apple will need to work closely with their research and development team to
S. economy is down, Target profits are likely to go down in response. Problem The main strategic problem is low employee wages, which has altered public perceptions. The retail industry is very unstable and some of the competition Target faces ebbs and flows quickly. The main competitors Target faces are Wal-Mart, K-Mart and Sears. Most cities have other smaller stores and department stores, which all compete with Target for the same customers.
Strategic Planning & Strategy Formulation Case: Strategic Planning & Strategy Formulation Case Assignment -- Comcast Comcast's Current Strategy Current Event Blog Discussion Question: Strategy Planning and Formulation Case Strategy Implementation & Evaluation Current Event Blog 4 -- Strategy Implementation & Evaluation Discussion Question: Strategy Implementation and Evaluation Reflective Discussion Case: Strategic Planning & Strategy Formulation Case Assignment -- Comcast Comcast's Current Strategy Comcast has developed a current business strategy that is completely focused on the customer. The company has positioned itself at the "intersection
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now