What strategy did your team decide to adopt during the renewal stage of the simulation?
Our firm chose the broad differentiation strategy. We did extremely well with the intended outcomes, at least in the first two weeks of rollovers. We were able to maintain a strong lead by aligning ourselves with clear goals as we began linking them to our initiatives for the broad differentiation strategy. Our vision for the company’s renewals was the basis for the goals of the operations. Once we had clearly stated our goals were able to make decisions for peak performance.
How did the strategy work?
The broad differentiation strategy worked very well for renewal. Our strategic plan began to form as we delved into the feedback from the reports and adjusted our strategy accordingly. This increased our commitment to the change and reinforced our decisions to continue our strategy which in turn improved performance. As we created new bikes and expanded our line our profitability increased and adjusted prices to fit the market demand our profitability and shareholder value increased. The problems we faced in our last two rollovers were clearly management issues, when the leadership changed it had a serious impact on the final decisions that were made for the last two years. The leader's ability to sustain company performance is limited to their ability to effectively communicate and channel the goals to execute the strategy.
What concepts from the course did you see reflected in the game play?
One of the key concepts that support our play of the simulation was the appraisal of external and internal indicators. During this rapidly changing environment we were able to stay in line during this mature stage of business by monitoring the expected outcome of our competitors by performing a situational analysis as we reformulated our strategy based on the competitive results. The basis for our decisions were our financial reports that helped us to look at the driving and restraining forces, as we worked to increase shareholder value. We looked at trends and patterns to gain customer loyalty, determine high quality or low price and the introduction of new products from customer demand.
What could your team do differently if you were to play the simulation again?
The most important lesson learned when operating in a renewal environment is collaboration and communication is key. If we were to play again, we would make sure that any lead doing the inputs would have a clear understanding of the strategy and a full understanding of how the game operates. Substandard leadership creates serious risks to your stakeholder and the company itself.
Friday, June 22, 2007
Thursday, June 21, 2007
MBA 755 – Reflections on Module 6 Concepts.
What is it that appears to make implementation of a renewal strategy so difficult?
Implementation for the renewal strategy may be difficult because of uknown factors and risks.
Which of the identified implementation pitfalls have you observed in your own experience with organizations?
The lack of the ability of people implementing the strategy is a pitfall. It has been my experience if the leader does not have the necessary bandwith to implement the strategy they are far less effective.
How did the pitfalls impact the overall outcome of the change implementation?
The pitfall of a change in leadership were detrimental to the success of our business. The change of leadership without the ability to sustain the business created a huge loss in shareholder value and our lead in the game.
What elements of the implementation process seem particularly relevant to your own experience?
Elements of the implementation process that seems relevant to my own experience is trends and patterns. This seems particularly important becuase it gives you an idea of the market to predict future profitablity and demand.
How does communication fit into implementation planning?
Communicaiton is key along with collaboration. As a leader if you must be able to communicate effectively to motivate and increase performance.
Which aspects of change theory seem particularly useful during renewal implementation? Why do you think so?
I would say one key aspect of the change theory is the current situation. A situational analysis helps to identify indicators to tell us what is working or not longer working. This also allows you look at what is going in internally and which part of the operations may need renewal. If you have a full understanding of what the current situation it is you are better prepared to work on areas that need attention.
What could you do differently as a result of your learning in implementing a change in your own organization?
I would look closely at how I could expand the strenghts of the business. This of course would go hand in hand with looking at what opportunities that may arise from the current situtation of the business.
Implementation for the renewal strategy may be difficult because of uknown factors and risks.
Which of the identified implementation pitfalls have you observed in your own experience with organizations?
The lack of the ability of people implementing the strategy is a pitfall. It has been my experience if the leader does not have the necessary bandwith to implement the strategy they are far less effective.
How did the pitfalls impact the overall outcome of the change implementation?
The pitfall of a change in leadership were detrimental to the success of our business. The change of leadership without the ability to sustain the business created a huge loss in shareholder value and our lead in the game.
What elements of the implementation process seem particularly relevant to your own experience?
Elements of the implementation process that seems relevant to my own experience is trends and patterns. This seems particularly important becuase it gives you an idea of the market to predict future profitablity and demand.
How does communication fit into implementation planning?
Communicaiton is key along with collaboration. As a leader if you must be able to communicate effectively to motivate and increase performance.
Which aspects of change theory seem particularly useful during renewal implementation? Why do you think so?
I would say one key aspect of the change theory is the current situation. A situational analysis helps to identify indicators to tell us what is working or not longer working. This also allows you look at what is going in internally and which part of the operations may need renewal. If you have a full understanding of what the current situation it is you are better prepared to work on areas that need attention.
What could you do differently as a result of your learning in implementing a change in your own organization?
I would look closely at how I could expand the strenghts of the business. This of course would go hand in hand with looking at what opportunities that may arise from the current situtation of the business.
MBA 755 – Reflections on Module 5 Concepts.
Trends and Patterns
The trends and patterns our organization adheres to is career planning and job descriptions. Criteria they must always consider is the demand for any technology and the career outlook.
Scenario Planning
Scenario Planning is used at Hocking College. They must consider the future scenerios to successfully turn out graduates that are ready for the field.
Personal Scenario Planning
I could use scenario planning in my own life for building a solid plan for my retirement years or even possibly for a career after retirement by outlining what areas I must renew to achieve the goals I have set.
Disadvantages of the Scenario
Firms competing in businesses subject to high uncertainty, whose decisions have costly and long-lasting effects may not benefit from scenarios.
The trends and patterns our organization adheres to is career planning and job descriptions. Criteria they must always consider is the demand for any technology and the career outlook.
Scenario Planning
Scenario Planning is used at Hocking College. They must consider the future scenerios to successfully turn out graduates that are ready for the field.
Personal Scenario Planning
I could use scenario planning in my own life for building a solid plan for my retirement years or even possibly for a career after retirement by outlining what areas I must renew to achieve the goals I have set.
Disadvantages of the Scenario
Firms competing in businesses subject to high uncertainty, whose decisions have costly and long-lasting effects may not benefit from scenarios.
Wednesday, June 6, 2007
MBA 755 – Reflections on Module 4 Concepts.
Change Model
I feel the empirical rational change model makes the most sense to me. This model's fundamental strategy is that men are rational and will make the appropriate changes based on the individuals self-interest. Once the individual understands and can justify what is desirable and effective he will benefit from the knowledge to apply a strategy for change.
Criteria for Renewal
Criteria that is appropriate for organizational renewal would be a complete analysis of its profitability and competitive advantage.
The choice of criteria may vary if it is a non-profit organization because the profitablity is not the concern. The criteria may simply be excellence in public serive. A government unit's criteria would be how the decisions may impact the local, statewide, or national communities. The urgency of the policy or reform effort must be taken into consideration. A for-profit enterprise must take into account the impact it has on its stakeholders.
Critiera for a project versus an organization
The criteria that seems to be most appropriate for organizing renewal would be the company's bottom line. Once you look at the balance sheet you can determine what areas may be an area for renewal, and looking at present and future values of their financial state. A lot may not change in a organization to provide renewal. It may only be small part of the business or project that would enhance business activities or even help them to gain a competitive advantage. An example would be Coke, when they tried to market a new coke flavor that wasn't as popular. By reversing back to the older more familiar taste their market shares increased.
Other Renewal Options
Other ways to make the renewal option choice other than by comparison against pre-selected criteria would be what is the expected outcome for the organization. The conditions only effect a small part or function of the organization. Another option would be an acquistion or merger, then a due diligience inquiry would be necesssary to expose all factors related to the business
Traps
Traps that await the decision maker could be failure to do a thorough analysis of the business to inform managers of all aspects of the business. Any information that is crucial to the business that may go unidentified may add additional risks to a business.
Renewal In My Life
Having a complete and full understanding of any life situation is crucial to identifying a clear path to renewal. Knowledge and options would be key to determine the way to go.
I feel the empirical rational change model makes the most sense to me. This model's fundamental strategy is that men are rational and will make the appropriate changes based on the individuals self-interest. Once the individual understands and can justify what is desirable and effective he will benefit from the knowledge to apply a strategy for change.
Criteria for Renewal
Criteria that is appropriate for organizational renewal would be a complete analysis of its profitability and competitive advantage.
The choice of criteria may vary if it is a non-profit organization because the profitablity is not the concern. The criteria may simply be excellence in public serive. A government unit's criteria would be how the decisions may impact the local, statewide, or national communities. The urgency of the policy or reform effort must be taken into consideration. A for-profit enterprise must take into account the impact it has on its stakeholders.
Critiera for a project versus an organization
The criteria that seems to be most appropriate for organizing renewal would be the company's bottom line. Once you look at the balance sheet you can determine what areas may be an area for renewal, and looking at present and future values of their financial state. A lot may not change in a organization to provide renewal. It may only be small part of the business or project that would enhance business activities or even help them to gain a competitive advantage. An example would be Coke, when they tried to market a new coke flavor that wasn't as popular. By reversing back to the older more familiar taste their market shares increased.
Other Renewal Options
Other ways to make the renewal option choice other than by comparison against pre-selected criteria would be what is the expected outcome for the organization. The conditions only effect a small part or function of the organization. Another option would be an acquistion or merger, then a due diligience inquiry would be necesssary to expose all factors related to the business
Traps
Traps that await the decision maker could be failure to do a thorough analysis of the business to inform managers of all aspects of the business. Any information that is crucial to the business that may go unidentified may add additional risks to a business.
Renewal In My Life
Having a complete and full understanding of any life situation is crucial to identifying a clear path to renewal. Knowledge and options would be key to determine the way to go.
Monday, June 4, 2007
MBA 755 – Reflections on Module 3 Concepts.
Renewal Options Diagram
The renewal options diagrams allows me to look at the current position of each stakeholder and what possibilities can be determined based on specific factors for the product or service. This gives me a clearer picture of what needs to address and functionality for each renewal possibility.
Relevant Renewal Choices
The renewal choices for Hocking College would be to look at trends and developments in the job market to deliver quality education at the lowest prossible cost. Competition is high and there are many threats to the instituions of higher learning. These factors must be considered as managers look for ways to offset the shifts in market demand.
Factors Defining Renewal Choices
The factors that define a relistic renewal choice would be costs, quality, and the threat of new entrants into the marketplace. The renewal strategy that I would choose would be based upon these factors to define possible solutions to renewal.
Communicate Renewal Options
A Renewal Strategies Options Map would communicate renewal choices by a situational analysis of the current situation at all levels, local, national, and International. Creating a renewal possibilties map would give them a visual to see the breakdown for each stakeholder and how to redefine existing markets and create new markets for our product/service.
Life Situational Analysis
I could see using a situational anaylsis in my own life at work or as I continue in the MBA Program. Work and even school requires renewal at some point to give us options to work toward new possibilites to improve performance. AT work may situations arise that may be counter-productive, evaluating what is working and what may not be working would help guide me in a direction to improved performance and effective leadership. As far as the MBA program goes, the situational analysis may be a great tool to overcome obstacles and improve strategy to deal with barriers we face as a team or even as an individual.
The renewal options diagrams allows me to look at the current position of each stakeholder and what possibilities can be determined based on specific factors for the product or service. This gives me a clearer picture of what needs to address and functionality for each renewal possibility.
Relevant Renewal Choices
The renewal choices for Hocking College would be to look at trends and developments in the job market to deliver quality education at the lowest prossible cost. Competition is high and there are many threats to the instituions of higher learning. These factors must be considered as managers look for ways to offset the shifts in market demand.
Factors Defining Renewal Choices
The factors that define a relistic renewal choice would be costs, quality, and the threat of new entrants into the marketplace. The renewal strategy that I would choose would be based upon these factors to define possible solutions to renewal.
Communicate Renewal Options
A Renewal Strategies Options Map would communicate renewal choices by a situational analysis of the current situation at all levels, local, national, and International. Creating a renewal possibilties map would give them a visual to see the breakdown for each stakeholder and how to redefine existing markets and create new markets for our product/service.
Life Situational Analysis
I could see using a situational anaylsis in my own life at work or as I continue in the MBA Program. Work and even school requires renewal at some point to give us options to work toward new possibilites to improve performance. AT work may situations arise that may be counter-productive, evaluating what is working and what may not be working would help guide me in a direction to improved performance and effective leadership. As far as the MBA program goes, the situational analysis may be a great tool to overcome obstacles and improve strategy to deal with barriers we face as a team or even as an individual.
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