Reflections on Module 5 Concepts.
Why is it important to understand the factors that impact cash flow?
It is important to understand the factors that impact cash flow because each decision may have an impact on the P&L. Understanding costs of materials, profit margins, operating income, net profit, assets, liabilities, gross profit, revenues and expenses are equally important. Leaders, especially in the launch phase, must have a clear direction on strategic imperatives. A great way to measure daily activity is the development of a balanced scorecard for managers to guide daily activities. These elements are measurable and directly related to the strategic direction of the company. Each action/decision can have a positive or negative affect on the financials. The more informed an organization is on financials the probability of better decision making will occur. The more benchmarks and comparisons that are reviewed, the better managers can navigate to strategic success.
How can the factors vary based on the waves of change?
The scorecard elements may change based on what stage of the business lifecycle they are in. Launch phase business scorecard elements may be focused on growth, advertising and growing market share. Conversely as a product matures, the scorecard may change to retention and new market development activities. Either way, scorecards that analayze and measure progress towards strategis goals are critical for leadership.
Does a leader’s lens perspective impact the benchmarks he or she identifies as critical for his or her organization and/or the analysis of such benchmarks? Explain.
Absolutely. For example, a leader’s perspective may be focused solely on financials in a given company. This is great, but, there are more areas of a scorecard to analyze. Areas such as internal processes, employee training, employee satisfaction, external customer related perspectives such as customer satisfaction and loyalty, and learning initiatives. Each area contributes to the overall success of a company.
Many organizations that use the balanced scorecard approach require different people within different functional areas as well as different levels of the organization to complete a balanced scorecard evaluation. Why would it be important to obtain different evaluations? Would you recommend this approach? Why or why not?
It is important to include as many different levels and perspectives when developing a scorecard. The more ways a company can compare and review benchmarked activities, the more likely performance will be enhanced. Operating without some sort of balanced scorecard would be similar to driving a car blindfolded. A scorecard provides a balanced method for managers and leaders to identify critical strategic success factors and measure activities over time. Benchmarking and milestone planning plays an important role in the success of the organization within the scorecard element.
Sunday, February 4, 2007
Sunday, January 28, 2007
Reflection on Module 4
Reflections on Module 4 Concepts.
How would you go about communicating your desire for a strategic alliance to another organization?
My approach would be for the CEO’s of each company meet, during the meeting each CEO would present and discuss core competencies, culture and desired results of a strategic alliance. Depending on the size of the organization, the respective board of directors may need to provide input for any alliance. If the companies were complementary of each other then an alliance would be possible.
What would you have to do to persuade them to strategically align with your organization?
The general approach to persuade a company to form a strategic alliance would be to show core competencies being a benefit to the other company. Each company must a have a reason to align with an outside party. Increased access to buyers, supply chain, warehousing, access to knowledge, best practices and or systems are several areas to present to answer the ‘why” partner.
How is technology impacting marketing channel operations?
Technology is impacting marketing channel operations in many ways. The first is that marketing channel design impacts virtually every piece of the business. Technology is rapidly changing the speed and efficiency of information and the way consumers shop. For example, if a product or service matures and is mainly purchased online and a company is still marketing to consumers who shop in-store then money is wasted.
Technology assists companies to deliver the right goods at the right price and at the right time. Knowledge management efforts help marketing create the right sales promotions using push and pull strategies to create demand and interest. Technology to share information, gather information, target specific segments and increase speed to market all help create market advantages. Companies that grow competency to be flexible, share information and change rapidly are more likely to succeed.
How does a leader keep well-informed of what is happening in the marketing channels that may have a direct impact on the business activities?
A leader can keep informed the various customer feedback surveys, buying trends and shopping behaviors. All internal elements can be part of the design to advertising. Integrated efforts to generate increased demand may then be communicated to all channels in advance of media spend. The company is then synchronized on what the public message is.
Integrated Marketing Communications (ICM) systems are typically designed for external audiences.
As an effective leader, why would it be important for you to establish an IMC internally within your organization?
ICM efforts internally are important because the process bring together all elements of advertising, sales promotion, personal selling and publicity so that the organization present a consistent message.
How would you go about communicating your desire for a strategic alliance to another organization?
My approach would be for the CEO’s of each company meet, during the meeting each CEO would present and discuss core competencies, culture and desired results of a strategic alliance. Depending on the size of the organization, the respective board of directors may need to provide input for any alliance. If the companies were complementary of each other then an alliance would be possible.
What would you have to do to persuade them to strategically align with your organization?
The general approach to persuade a company to form a strategic alliance would be to show core competencies being a benefit to the other company. Each company must a have a reason to align with an outside party. Increased access to buyers, supply chain, warehousing, access to knowledge, best practices and or systems are several areas to present to answer the ‘why” partner.
How is technology impacting marketing channel operations?
Technology is impacting marketing channel operations in many ways. The first is that marketing channel design impacts virtually every piece of the business. Technology is rapidly changing the speed and efficiency of information and the way consumers shop. For example, if a product or service matures and is mainly purchased online and a company is still marketing to consumers who shop in-store then money is wasted.
Technology assists companies to deliver the right goods at the right price and at the right time. Knowledge management efforts help marketing create the right sales promotions using push and pull strategies to create demand and interest. Technology to share information, gather information, target specific segments and increase speed to market all help create market advantages. Companies that grow competency to be flexible, share information and change rapidly are more likely to succeed.
How does a leader keep well-informed of what is happening in the marketing channels that may have a direct impact on the business activities?
A leader can keep informed the various customer feedback surveys, buying trends and shopping behaviors. All internal elements can be part of the design to advertising. Integrated efforts to generate increased demand may then be communicated to all channels in advance of media spend. The company is then synchronized on what the public message is.
Integrated Marketing Communications (ICM) systems are typically designed for external audiences.
As an effective leader, why would it be important for you to establish an IMC internally within your organization?
ICM efforts internally are important because the process bring together all elements of advertising, sales promotion, personal selling and publicity so that the organization present a consistent message.
Sunday, January 21, 2007
Reflections on Module 3 Concepts
1. Reflections on Module 3 Concepts.
Do policies limit the creative tendencies of leaders? How can an organization establish policies yet still foster creativity and innovation?
Corporate policy often times stems the creativeness within corporations. Many times associates are fearful of violating policy and thus being reprimanded. Leaders can fall prey to being institutionalized in their thinking and thus operate “by the book”
Companies can foster innovation through formalized brainstorming sessions where leadership is present and can immediately approve ideas that bring value to the organization. Associates often have good ideas and are asked to put it in writing. The ideas then fall easily into a Black hole and are never acted upon. If leaders are present and commit then they are more likely to support.
Are policies and procedures viewed in different capacities by leaders of different waves of change?
I believe that policies and procedures are viewed differently by leaders in different waves of change. Informational age leaders may be in a maturity stage of the business and are procedure driven. They do not think outside the box. Perform the same way every time. Whereas, an early stage leader or informational age thinker might be more open to new ways of execution to grow/renew business.
Why is cultural understanding essential in establishing knowledge management within an organization?
Cultures have different ways of thinking, communicating and executing. Standards are different. Regulatory landscape is different. The overall business landscape is different. Understanding cultural impacts on the business process can determine how an organization communicates. For example, how do you cross pollinate an international organization? How do you facilitate information sharing, quality management, methods and procedures? Effective knowledge management (social capital) plays an important role in the in the success of an organization.
Historically speaking, culture has been considered a longtime process. Yet in a society that is characterized by more frequent change and greater levels of uncertainty, how do the more rapidly changing effects impact the culture of organizations? Is it necessary for the culture of an organization to keep pace with the rapid changes?
It is absolutely necessary for an organization to keep pace with the rapid changes in the environment. A company’s culture should be based on founding principles that guide behavior. Take the Lexington case study example. The company did not keep up with the change in the business environment and ultimately suffered. If the company had sound guiding principles that facilitated internal sharing and communication of ideas then Lexington may have had an easier time keeping up with the speed of change
Do policies limit the creative tendencies of leaders? How can an organization establish policies yet still foster creativity and innovation?
Corporate policy often times stems the creativeness within corporations. Many times associates are fearful of violating policy and thus being reprimanded. Leaders can fall prey to being institutionalized in their thinking and thus operate “by the book”
Companies can foster innovation through formalized brainstorming sessions where leadership is present and can immediately approve ideas that bring value to the organization. Associates often have good ideas and are asked to put it in writing. The ideas then fall easily into a Black hole and are never acted upon. If leaders are present and commit then they are more likely to support.
Are policies and procedures viewed in different capacities by leaders of different waves of change?
I believe that policies and procedures are viewed differently by leaders in different waves of change. Informational age leaders may be in a maturity stage of the business and are procedure driven. They do not think outside the box. Perform the same way every time. Whereas, an early stage leader or informational age thinker might be more open to new ways of execution to grow/renew business.
Why is cultural understanding essential in establishing knowledge management within an organization?
Cultures have different ways of thinking, communicating and executing. Standards are different. Regulatory landscape is different. The overall business landscape is different. Understanding cultural impacts on the business process can determine how an organization communicates. For example, how do you cross pollinate an international organization? How do you facilitate information sharing, quality management, methods and procedures? Effective knowledge management (social capital) plays an important role in the in the success of an organization.
Historically speaking, culture has been considered a longtime process. Yet in a society that is characterized by more frequent change and greater levels of uncertainty, how do the more rapidly changing effects impact the culture of organizations? Is it necessary for the culture of an organization to keep pace with the rapid changes?
It is absolutely necessary for an organization to keep pace with the rapid changes in the environment. A company’s culture should be based on founding principles that guide behavior. Take the Lexington case study example. The company did not keep up with the change in the business environment and ultimately suffered. If the company had sound guiding principles that facilitated internal sharing and communication of ideas then Lexington may have had an easier time keeping up with the speed of change
Sunday, January 14, 2007
Reflections of Module 2 posting
Blog entry: Reflections on Module 2 Concepts.
1. Why is it necessary to look through the four lenses when developing an internal communication strategy?
It is necessary to utilize the four lens perspective when developing an internal communication strategy to insure each of the intended audiences are of clear understanding of the intended message. Individuals have different personalities/mental preferences and thus receive information in different manners. The communication should be drafted with intent to reach each quadrant or personality type. A communication walkaround is a good way to check your communication. Questions like, does it look at the big picture? Quad D or Does it use facts? quad A. Does it use details? Quad B and finally, Does it use experiences related to the audience? Quad C
2.How do your personal experiences, prejudices, and expectations impact your ability to objectively select the best candidates for a job or project position?
Sometimes it is difficult to be completely subjective when interviewing. Human resource interviewing guides are a good tool to utilize as a foundation to ask set questions to each candidate. In general, adhering to behavioral type questions will remove most subjectivity. Questions which require responses in the manner of SBA-situation, behavior and actions taken are helpful. Example Tell me about a time when you led a project. What steps did you take?
3. How does the identification of outsourcing opportunities relate to core competencies and competitive advantages? Can this relationship also be connected to the organizational structure? Explain and provide an example.
Situations which reference outsourcing are related to core competencies in that situations may dictate decision making to pursue this type of structure to complete tasks. Sometimes and organization may choose outsourcing because of financial reasons. A different company can achieve better results cheaper. Conversely, a company may choose outsourcing because of staffing or technical expertise.
Ultimately, company’s have many different reasons for choosing outsourcing. Organizational structure plays a role in each decision. Does the company have the necessary staff to complete a project? Expertise? Lucent technologies is a good example of software development outsourcing. The company is outsourcing software development to company’s in Poland and China that can perform at a less expensive rate. Wireless service providers are another example. Network build elements are outsourced to companies with size and scope to complete national build outs.
References
Herrmann, N (1996) The whole brain business book. United States, McGraw-Hill Publishing
1. Why is it necessary to look through the four lenses when developing an internal communication strategy?
It is necessary to utilize the four lens perspective when developing an internal communication strategy to insure each of the intended audiences are of clear understanding of the intended message. Individuals have different personalities/mental preferences and thus receive information in different manners. The communication should be drafted with intent to reach each quadrant or personality type. A communication walkaround is a good way to check your communication. Questions like, does it look at the big picture? Quad D or Does it use facts? quad A. Does it use details? Quad B and finally, Does it use experiences related to the audience? Quad C
2.How do your personal experiences, prejudices, and expectations impact your ability to objectively select the best candidates for a job or project position?
Sometimes it is difficult to be completely subjective when interviewing. Human resource interviewing guides are a good tool to utilize as a foundation to ask set questions to each candidate. In general, adhering to behavioral type questions will remove most subjectivity. Questions which require responses in the manner of SBA-situation, behavior and actions taken are helpful. Example Tell me about a time when you led a project. What steps did you take?
3. How does the identification of outsourcing opportunities relate to core competencies and competitive advantages? Can this relationship also be connected to the organizational structure? Explain and provide an example.
Situations which reference outsourcing are related to core competencies in that situations may dictate decision making to pursue this type of structure to complete tasks. Sometimes and organization may choose outsourcing because of financial reasons. A different company can achieve better results cheaper. Conversely, a company may choose outsourcing because of staffing or technical expertise.
Ultimately, company’s have many different reasons for choosing outsourcing. Organizational structure plays a role in each decision. Does the company have the necessary staff to complete a project? Expertise? Lucent technologies is a good example of software development outsourcing. The company is outsourcing software development to company’s in Poland and China that can perform at a less expensive rate. Wireless service providers are another example. Network build elements are outsourced to companies with size and scope to complete national build outs.
References
Herrmann, N (1996) The whole brain business book. United States, McGraw-Hill Publishing
Saturday, January 6, 2007
Assignment 1-4 Tony Schrader
Questions
1. Consider your own leadership traits. Are you more creative or organizational?
Based on my HBDI scoring I am more organized and analytical with shared creative and vision being secondary. My experience managing an entire organization has taught me how to interact with multiple personalities. My relative even scoring on HBDI supports this. I enjoy all aspects of leading a business, yet have natural tendencies towards being more organized and methodical. Therefore, organizational launch phase type coordination activities suit me well.
2. Discuss an idea develop and implementation has failed.
The most recent implementation idea that comes to mind is trying to get national retailers to attach features to new lines wireless sales. This effort has failed. Areas where we could position ourselves better is to develop additional plans showing the math behind commissions to drive sales behaviors and put daily attention to the execution. set milestones as well.
3. How can a product or service in own firm be reclassified?
In wireless telecom, the service provider reinvents itself with new add on services that generate revenue. An example would be media net services which cost between 1020$ per month and provide general Internet access. These new features are basically reclassifying wireless service from voice to data in nature. This provides email access on the go. Niche services can and are created to tap into new or emerging markets like Hispanic or prepaid type demographics.
1. Consider your own leadership traits. Are you more creative or organizational?
Based on my HBDI scoring I am more organized and analytical with shared creative and vision being secondary. My experience managing an entire organization has taught me how to interact with multiple personalities. My relative even scoring on HBDI supports this. I enjoy all aspects of leading a business, yet have natural tendencies towards being more organized and methodical. Therefore, organizational launch phase type coordination activities suit me well.
2. Discuss an idea develop and implementation has failed.
The most recent implementation idea that comes to mind is trying to get national retailers to attach features to new lines wireless sales. This effort has failed. Areas where we could position ourselves better is to develop additional plans showing the math behind commissions to drive sales behaviors and put daily attention to the execution. set milestones as well.
3. How can a product or service in own firm be reclassified?
In wireless telecom, the service provider reinvents itself with new add on services that generate revenue. An example would be media net services which cost between 1020$ per month and provide general Internet access. These new features are basically reclassifying wireless service from voice to data in nature. This provides email access on the go. Niche services can and are created to tap into new or emerging markets like Hispanic or prepaid type demographics.
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