Strategic Planning Ford Motor Company

Strategic Management process Strategic management process encompasses other planning processes such as the strategic planning as well as the human resources planning. In essence, strategic management processes necessitate all the tactical arrangements and the ability of the organization to execute the strategies (Aaker, 2001).Advertising We will write a custom essay sample on Strategic Planning: Ford Motor Company specifically for you for only $16.05 $11/page Learn More Specifically, strategic management process is the practice of making out and implementing the tactical policies of an organization. During the process, the company competencies and capabilities must correspond to the environmental needs. The strategic management process begins from defining the current business and its mission to the evaluation process where the company performance is assessed against the strategies. Specifically, the strategic management process involves executing the pl ans and evaluating the performance or outcome against the planned strategies (Aaker, 2001). In the planning cycle, strategic execution and strategic evaluation are always the last steps. Essentially, strategic management process involves the execution of strategic planning process and the evaluation of the strategic performance. The role of the planning cycle As indicated, the strategic management process encompasses various steps that involve the strategic planning process. Strategic planning process includes various steps ranging from defining the current situation of the business according to its mission to formulating the strategies to attain the strategic goals (Aaker, 2001). The strategic planning process involves five steps, which is referred to as the planning cycle. As mentioned, the first step in the planning cycle is to identify the business and align it with its mission. The second step involves evaluating the business through the application of its internal strengths an d weaknesses as well as the threats and opportunities that come from external sources. The third process is devising the novel business statements. Fourth process involves transforming the business mission into tactical objectives. The last step in the planning process is the implementation of the tactical objectives. In the simplest sense, the planning cycle helps businesses or firms identify their current position and forecast achievable goals through formulated strategies.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Strategic management process and the way companies maintain sustainable competitive advantage As mentioned, strategic management process involves tactical planning process, implementation of the strategies and the evaluation of the strategies. The company gauges these processes against environmental demands to achieve the competitive advantage (Aaker, 2001). In the first step of the planning process, firms have to choose the path on which it will compete. In other words, the company has to decide the type of product or service it will bring into the market, how to differentiate its product or service and the place to sell the product. In essence, the company evaluates its current position and the kind of business to be involved in given their strengths, weaknesses and opportunities. Managers, through the application of the company mission, formulate the strategic actions that would enable the company attain its objectives. In the second step of the planning process, the company performs detailed audit of its internal strengths and weaknesses, the threats that the firm faces from external environment and the opportunities the external environment brings to the firm. The strategic internal and external audit is facilitated by the application of SWOT analysis. Based on this situation analysis, managers formulate novel business mission statement that ca pture the new form of business in terms of the type of product to sell, the geographical location in which it will sell the products and how the product will be differentiated. The mission is transformed into strategic goals. In other words, the mission has to be translated into achievable objectives that all employees and various departments of the company understand. The mission statement has to be transformed into ways through which the products and services are made to satisfy the demands of the customers. To sustain its competitive advantage, the company mission has to be translated into strategic goals that are geared towards creating and enhancing the shareholders value, sustaining the higher rate of returns through strong balance sheets and maintaining high quality products that satisfy the needs of the customers. The final stage in the planning process is where the firms come up with strategies that will enable it attain the strategic goals. Based on the above processes, th e strategy is the plans of action that will enable the business achieve the set objectives. The last step to attain the competitive advantage is the implementation of the strategies and evaluating the performance.Advertising We will write a custom essay sample on Strategic Planning: Ford Motor Company specifically for you for only $16.05 $11/page Learn More For instance, Ford Motor Company has been faced with huge losses and decreasing share in the market. The company has been losing market share to its rivals such as Toyota and Nissan. The reason is that its costs were higher than the competitors hence cannot stand the fierce competition in the market. To overcome its problems, Ford Motor Company adopted a strategic plan that entailed cost reduction approaches such as closing some of its plants and terminating most of the employees. In the strategic plan, the company evaluated the internal strong points as well as limitations and matched them with corr esponding external prospects and pressures to improve its competitiveness in the market. The role of microeconomics in creating a sustainable competitive advantage Companies use microeconomic concepts to evaluate the environmental needs (Pindyck Rubinfeld, 2005). For instance, the concept of consumption is critical in evaluating the demand. The consumer theory is also important in examining the way consumers behave in the market. Understanding the behavior of consumers as well as other components of environment is important in sustaining competitive advantage. References Aaker, D. (2001). Developing business strategies. NY: John Wiley Sons, Inc. Pindyck, R. Rubinfeld, D. (2005). Microeconomics. Web. This essay on Strategic Planning: Ford Motor Company was written and submitted by user Leila Hardy to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

A Comparison and Contrast of Love in Christopher Marlowes The Passionate Shepherd to his Love and C. Day Lewiss Song

A Comparison and Contrast of Love in Christopher Marlowes The Passionate Shepherd to his Love and C. Day Lewiss Song In the poems 'The Passionate Shepherd to his Love' by Christopher Marlowe and 'Song' by C. Day Lewis, the speakers display their individual views of what can be expected with their love. Both speakers produce invitations to love with differences in what they have to offer. A list of promised delights is offered by the speaker in 'The Passionate Shepherd,' and through persuasion, is able to influence the emotions of his love. The speaker in 'Song' shows the difficulties of his life, as seen in his economic necessity and lack of material pleasures, but subsequently offers his love unconditionally in order to convince his beloved. In comparison the poems expose the speakers' use of separate methods to influence their loves. Through comparing and contrasting the context in which the invitations occur, what each speaker offers, and the tone of each speaker, these differing methods can be understood.David Devo OosthuizenThe 'Passionate Shepherd' is set in a romantic, natural backdrop in th e seventeenth century. In this rural setting the Shepherd displays his flock and pastures to his love while promising her garlands and wool for weaving. Many material goods are offered by the speaker to the woman he loves in hopes of receiving her love in return. He also utilizes the power of speech to attempt to gain the will of his love. In contrast, the poem 'Song' is set in what is indicative of a twentieth century depression, with an urban backdrop that is characteristically unromantic. The speaker 'handle(s) dainties on the docks' (5) , showing that his work likely consists of moving crates as a dock worker. He extends his affection through the emphasis of his love and how it has endured and survived all hardships. He uses the truth of his poor and difficult situation as a...

The Curious History of Bead

The Curious History of Bead The Curious History of Bead The Curious History of Bead By Maeve Maddox You may have heard the expression to draw a bead, meaning to take aim. A hunter, for example, draws a bead on the quarry. The expression, used both literally and figuratively, is popular with headline writers Connecticut gunman drew bead on bosses Kiefer Sutherland and 24 draw a bead on a feature film HP and Microsoft Draw a Bead on Cisco The bead in this expression comes from the small metal knob that forms the front sight of a gun. The word bead attached to this knob because of its resemblance to the kind of bead most of us probably think of when we hear the word: A small perforated body, spherical or otherwise, of glass, amber, metal, wood, etc., used as an ornament, either strung in a series to form a necklace, bracelet, etc., or sewn upon various fabrics. This general sense of bead derived in turn from rosary beads, the little markers strung together for the purpose of helping a worshipper count prayers. Originally, beads were not the little objects on the string, but the prayers being said. Bead in this sense is a cognate of German bitte, a word that is used to make a request. Someone praying with a rosary was said to be telling his beads, that is, counting his prayers. Another meaning of the verb to tell is to count. (The bank teller counts out your money.) Historically, wealthy patrons would pay people to pray for them on a regular basis. These professionals were called beadsmen or beadswomen. Keats begins his poem St. Agnes Eve with this evocation of a harsh winters evening: St. Agnes EveAh, bitter chill it was! †¨ The owl, for all his feathers, was a-cold; †¨ The hare limpd trembling through the frozen grass, †¨And silent was the flock in woolly fold: †¨Numb were the Beadsmans fingers, while he told †¨His rosary, and while his frosted breath, †¨Like pious incense from a censer old, †¨Seemd taking flight for heaven†¦ An earlier spelling of bead was bede, from Old English gebed, prayer. The OE verb biddan meant to pray as well as to ask. By the late 14th century, the word bede/bead had attached to the objects on which the prayers were told or counted. The expression to draw a bead on is an obvious headline choice when the topic is something like gun control, Critics Draw A Bead On State House Gun Ban but I wonder if the writer who came up with this one about the popularity of rosaries with non-Catholic soldiers in Iraq realized just how clever it is: Worshippers draw bead on rosaries Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:100 Whimsical Words50 Synonyms for "Assistant"Punctuation Is Powerful

Professional demeanor Research Paper Example | Topics and Well Written Essays - 1750 words

Professional demeanor - Research Paper Example   Subsequently, the college context has been applied to the professional behavior; and it is followed by the section detailing the friendship circle. Before the conclusion part, both positive and negative aspects of personal branding and personality issues along with personal branding have been detailed.        Dress code remains an important part of the organizational subculture. The dress code enables me to identify myself as a part of the organizational subculture where we share similar values, perspectives and commitment towards achieving the organizational objectives and missions as well. For this purpose, I need to follow the dress code and wear the specific type of dress code. This specific nature of subculture attaches me with a ltor community or group in a particular manner. For example, based on this dress code and as part of the organization, I find myself attached with the core professional values of the organization. In this regard, it is worth highlighting that the requirement of a specific dress code directly supports my perspective relating to the professional demeanor. More specifically, I prefer to follow professional rules, beliefs, values and customs that are highly essential for obtaining the objectives of group expectations. At the same time, I do not find myself t o be coerced by the dress code instead the workplace environment is so congenial that I do not find anything that is different from my own perception relating to the professional demeanor and outlook as well.

ENVIRONMENTAL AUDITING AND MANAGEMENT SYSTEMS Essay

ENVIRONMENTAL AUDITING AND MANAGEMENT SYSTEMS - Essay Example In addition, the essay will discuss into details three basic aspects of sustainability and the role of companies in addressing all these three aspects, including the CSR practices as they relate to the organization. The benefits and limitations of using EMS are also discussed at length and ways of identifying and improving social impacts of companies, after which it will establish sustainability indicators when using EMS as well as outlining CSR and sustainability standards. Moreover, the essay gives a detailed discussion on matters relating to shareholder theory in CSR and standardization. Task 1 Suppliers’ Environmental Performance In essence, suppliers’ environmental performance is important to a company adopting an EMS, whether certified or not because of a number of ways. The suppliers form part of the external environment in a company, thus their contribution has significant influence in running a company. Suppliers’ power comes into play when they demand t hat retailers pay a given amount of money for the supplied goods. Lack of compliance from the side of the retailer means the supplier will not provide the goods. Taking Tesco Company as an example, the entity has an advantage over the small stores as most people tend to do all their shopping in large stores and supermarkets. This enables Tesco to have the ability to dictate the price suppliers will sell goods as failure to comply on the part of suppliers will leave them with no market to supply their goods. According to Rigby, the government needs to increase protection for suppliers and reduce their exploitation by large supermarkets (24). Tesco has a range of its own product which gives it power to fully dictate their price since it does not have to wait for suppliers to provide the goods. These products have strengthened the company’s profits and increase its competitive advantage. In 2007, the company sales were ?42,633.4 million with a 21.9% growth rate in sales (Rigby 4 4). The suppliers’ environmental assessment fits within an EMS in a number of ways. For example, it promotes ethics and cordial relationships among different suppliers who might be transacting business with the company. In an organization, ethical behavior is imperative because it plays an integral role in helping it achieves the desired environmental management system. It also forms the culture of the organization and fosters the relationship between the stakeholders. Importantly, the analysis of the organizational ethical human behavior is very essential in making ethical managerial decisions, bearing in mind the need for consistency to the international principles of running the affairs of the company. In addition, ethical human behavior presents the dynamic relations, which the company could apply to realize its vision and mission based on the outlined objectives. Therefore, ethical human behavior comprises the fundamental aspects that the people in the organization shoul d adopt in delivering better management services to the potential customers and other stakeholders. Those aspects are core when making ethical decisions about the code of behavior expected from leaders. The value of a comprehensive code of conduct to guide organizational activities is vested in the spirit of the leaders to exercise the organizational culture. As a leader, one of the primary responsibilities is to help shape a culture of

The structure of the play Essay Example for Free

The structure of the play Essay In the Requiem we see Willys funeral, but alas, the friends and customers he claimed to have has not shown up. Linda and Happy are confused as to why this is, but Charley, Biff and Bernard know and have come to terms with the fact that Willy was not well liked and that his business ventures were ill-fated and old-fashioned. Biff finally opens up and says that Willy had the wrong dreams and Willy never knew who he was. Happy is distressed by what Biff says and is almost ready to fight. Happy obviously still believe in Willys ideals and in capitalism and states that he is gonna win it for him (Willy) much to the distress of Biff who knows that it is a vain attempt at getting rich quick. Linda is comforted by Charley, who says that being a salesman is a good profession and that a salesman has got to dream. Charley goes on to say he was a happy man with a batch of cement, this could be interpreted as the author saying that most people are happy to work for a purpose, e.  g. Socialism. Throughout much of the play we see Willy symbolising old capitalism, the belief that if you work hard and are well liked then you gain lots of financial wealth. In the Requiem we see the death of this old capitalism due to the unscrupulous nature of new capitalism which unfortunately, is not dead yet. Ben, Willys brother, symbolises new capitalism, the belief that if you are merciless and cut-throat in business then you will gain financial success. Much of the play is spent showing how new capitalism is getting rid of old capitalism. The structure of the play Throughout the play we have frequent flashbacks to the past, as Willys life falls apart and he dreams about the past to preserve his happiness. As the play progresses, the flashbacks become more frequent and crossover more into the present. The flashbacks are essential to the rest of the play and provide vital points that are key to the story. As the flashbacks become more frequent and frenzied, Willy starts acting out the flashbacks in the present. This makes him appear crazy and even leads Biff and Happy to openly claim Willy is not their father. Miller uses these flashbacks to adequately convey the emotion and structure of Willys breakdown to the audience. Conclusion Death of a salesman could easily be interpreted as an attack on the unscrupulous nature of all capitalism, but this is only a small part of the play. It is an emotive story of the last few days of a failed salesmans life, as he seeks happiness in the past and can not face the reality of his life. It is about a man who has been robbed by time and takes refuge in the past when he was well liked, yet in the present no-one in the business world likes him. Miller has written Death of a salesman in a powerful way and is successful in his purpose of touching the reader and making the read thinking about the world and the life they lead.

Showing up the Actor :: Boxing Personal Narrative Papers

Showing up the Actor When I was younger I spent much of my time alone. My father bred in me, perhaps by nothing more than his example, a certain New England stoicism which thrived on solitude. Nothing displayed this rustic discipline more than the pop-up camper my father bought from our neighbors when I was six. From that summer our family spent most vacations on the road, pulling the camper behind us, my father winching it up and spreading the canvas roofing in Nova Scotia or Florida or upstate New York. Many summers later I insisted that I live in the camper, parked in the driveway. My mother brought me my meals and my father decided I should begin reading Hemingway. I sat propped in the tent-like house, eating hot dogs and reading terse, athletic prose about boxers and bullfights and impotent veterans. I figured out why my father named our dog Brett. I also spent a good deal of time at elite institutions of learning. When he wasn't camping my father taught math at prep schools. From my birth until my fourth birthday we lived at St. George's in Newport, Rhode Island, among the brocaded mansions like Egypt's pyramids, crafted of heavy-set stones. Then, in 1981, we moved to Phillips Academy in Andover, where the shops on the main street came in threes: bank boutique salon bank boutique salon. I can think of no better reason than that for why I took up boxing in the summer before my Senior year of college -- than that I spent most of my youth alone at elite institutions. And yet, in my four years as a student at Phillips, enrolling eleven years after my family's arrival, I wasn't entirely alone. A friend of mine, Noah -- his father also taught on the faculty. Noah also received the ninety percent tuition discount. Noah's fridge was also usually empty, because he had also eaten in school cafeterias for most of his life. He had also, for four years, somehow slipped between the kid whose wealth was a ticket to fuck around and the boy whose mother was a janitor, between the blonde suburban girl whose father owned The New York Times and the tight-knit handful of urban kids who came under the banner program of "A Better Chance" -- that is, between privilege and opportunity. This is not to say that the two sides of this educational gauntlet weighed in equally. Showing up the Actor :: Boxing Personal Narrative Papers Showing up the Actor When I was younger I spent much of my time alone. My father bred in me, perhaps by nothing more than his example, a certain New England stoicism which thrived on solitude. Nothing displayed this rustic discipline more than the pop-up camper my father bought from our neighbors when I was six. From that summer our family spent most vacations on the road, pulling the camper behind us, my father winching it up and spreading the canvas roofing in Nova Scotia or Florida or upstate New York. Many summers later I insisted that I live in the camper, parked in the driveway. My mother brought me my meals and my father decided I should begin reading Hemingway. I sat propped in the tent-like house, eating hot dogs and reading terse, athletic prose about boxers and bullfights and impotent veterans. I figured out why my father named our dog Brett. I also spent a good deal of time at elite institutions of learning. When he wasn't camping my father taught math at prep schools. From my birth until my fourth birthday we lived at St. George's in Newport, Rhode Island, among the brocaded mansions like Egypt's pyramids, crafted of heavy-set stones. Then, in 1981, we moved to Phillips Academy in Andover, where the shops on the main street came in threes: bank boutique salon bank boutique salon. I can think of no better reason than that for why I took up boxing in the summer before my Senior year of college -- than that I spent most of my youth alone at elite institutions. And yet, in my four years as a student at Phillips, enrolling eleven years after my family's arrival, I wasn't entirely alone. A friend of mine, Noah -- his father also taught on the faculty. Noah also received the ninety percent tuition discount. Noah's fridge was also usually empty, because he had also eaten in school cafeterias for most of his life. He had also, for four years, somehow slipped between the kid whose wealth was a ticket to fuck around and the boy whose mother was a janitor, between the blonde suburban girl whose father owned The New York Times and the tight-knit handful of urban kids who came under the banner program of "A Better Chance" -- that is, between privilege and opportunity. This is not to say that the two sides of this educational gauntlet weighed in equally.