Assignment 3, Principles of Management (16 points)

This is an individual assignment for each member of the team. Each person should select one of the companies in your industry (coordinate choice) and answer 4 of the 6 items below.

For this exercise you are encouraged to copy the information from articles and company annual reports. The answers should be as specific as possible.
1. What is the Mission of your company? A mission statement is likely to include such things as the scope of operations (worldwide), customers, markets, philosophy, vision for future, technology, concern for survival and growth, dedication to stakeholders (customers, employees, community). Some firms will have this information written out, while others may infer these things.

2. What are the overall objectives of the company? Possible objectives include profitability, Return on Investment, Return on Assets, cash flow, market share, market rank, financial health, cost efficiency, product quality, innovation, social responsibility, etc.

3. What strategies seem to be guiding the overall direction of the company? There may be multiple strategies. Find the specific wording and make this as detailed as you can. If you find two strategies that could be 2 of the 6 items that you need to address. Strategy types are in your PowerPoint notes and start on page 91 in your text. PowerPoint's for Chapter 6 are best to look at. Possible strategies include Intensive strategies such as horizontal and vertical integration, market penetration, market development, product development; Diversification strategies such as concentric diversification (supplementary or complementary products), horizontal diversification (same market, same level but new products to same market), conglomerate diversification (new unrelated products/services); Stability strategies, no change strategy, retrenchment strategies such as downsizing, outsourcing, divestiture, bankruptcy: Porter's Generic Strategies such as cost leadership, differentiation, cost focus, or focus differentiation: also quick response strategy, and e-strategies such as B2B, B2C, and also joint ventures, and mutual service cooperatives strategies such as used by Sunkist oranges or Idaho potatoes. (3)1st Strategy

(4)2nd Strategy

5. Characteristics of the Board of Directors. Who is on board, what is mix of inside (they are also part of management) or outside directors (from outside the company)? What information leads you to believe they are doing a poor or good job? Is CEO also Chairman of the Board? Is there anything about executive remuneration, board members receiving pay, or stock options used for remuneration? Are there any ethical breeches? Are there functional teams on board such as financial oversight committee, marketing committee, ethics committee, etc.?

6. You probably will find specific functional programs, such as marketing or advertising program, human resource programs, R&D programs, information technology programs, etc? Cite what company is doing in regard to these programs.