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DEDICATION
EXECUTIVE SUMMARY
OF CONTENTS
TOPICS
PAGE NO.
Dedication
Acknowledgement
ii
Executive Summary
iii
Table Of Content
iv
CHAPTER 1
Introduction to Leadership Styles
1.1 STRATEGY
1.2 STRATEGY EVALUATION PROCESS AND ITS SIGNIFICANCE
1.3 THE PROCESS OF STRATEGY EVALUATION CONSISTS OF FOLLOWING
STEPS
1.4 STRATEGY EVALUATION AND CONTROL
1.5 STRATEGIC MANAGEMENT MODELS
4
CHAPTER NO. 2
CASE STUDY OF SOURAV CHANDIDAS GANGULY
2.1 INTRODUCTION
2.2 A WHOLE ORGANIZATION STRATEGY FOR EVALUATION OF TRAINING
Chapter no. 3
SWOT Analysis of SOURAV CHANDIDAS GANGULY
3.1 Strengths
19
3.2 Weaknesses
19
3.3 Opportunities
20
3.4 Threats
20
CONCLUSION
21
RECOMMENDATIONS
22
BIBLIOGRAPHY
23
CHAPTER No. 1
INTRODUCTION
T0
THEORETICAL FRAMEWORK
FOR RESEARCH IN MANUFACTURING
ORGANIZATION
1.1 STRATEGY
Strategy is a high level plan to achieve one or more goals under conditions of uncertainty.
In the sense of the "art of the general", which included several subsets of skills including
"tactics", siegecraft, logistics etc., the term came into use in the 6th century C.E. in East
Roman terminology, and was translated into Western vernacular languages only in the
18th century. From then until the 20th century, the word "strategy" came to denote "a
comprehensive way to try to pursue political ends, including the threat or actual use of
force, in a dialectic of wills" in a military conflict, in which both adversaries interact.
Strategy is important because the resources available to achieve these goals are usually
limited. Strategy generally involves setting goals, determining actions to achieve the
goals, and mobilizing resources to execute the actions. A strategy describes how the ends
(goals) will be achieved by the means (resources). The senior leadership of an
organization is generally tasked with determining strategy. Strategy can be intended or
can emerge as a pattern of activity as the organization adapts to its environment or
competes. It involves activities such as strategic planning and strategic thinking.
Henry Mintzberg from McGill University defined strategy as "a pattern in a stream of
decisions" to contrast with a view of strategy as planning,[4] while Max McKeown
(2011) argues that "strategy is about shaping the future" and is the human attempt to get
to "desirable ends with available means". Dr. Vladimir Kvint defines strategy as "a
system of finding, formulating, and developing a doctrine that will ensure long-term
success if followed faithfully.
(http://en.wikipedia.org/wiki/Strategy)
The significance of strategy evaluation lies in its capacity to co-ordinate the task
performed by managers, groups, departments etc, through control of performance.
Strategic Evaluation is significant because of various factors such as - developing inputs
for new strategic planning, the urge for feedback, appraisal and reward, development of
the strategic management process, judging the validity of strategic choice etc.
meet its purpose. For measuring the performance, financial statements like balance sheet, profit and loss account must be prepared on an annual basis.
3. Analyzing Variance - While measuring the actual performance and comparing it
with standard performance there may be variances which must be analyzed. The
strategists must mention the degree of tolerance limits between which the variance
between actual and standard performance may be accepted. The positive deviation
indicates a better performance but it is quite unusual exceeding the target always.
The negative deviation is an issue of concern because it indicates a shortfall in
performance. Thus in this case the strategists must discover the causes of
deviation and must take corrective action to overcome it.
4. Taking Corrective Action - Once the deviation in performance is identified, it is
essential to plan for a corrective action. If the performance is consistently less than
the desired performance, the strategists must carry a detailed analysis of the
factors responsible for such performance. If the strategists discover that the
organizational potential does not match with the performance requirements, then
the standards must be lowered. Another rare and drastic corrective action is
reformulating the strategy which requires going back to the process of strategic
management, reframing of plans according to new resource allocation trend and
consequent means going to the beginning point of strategic management process.
(http://www.managementstudyguide.com/strategy-evaluation.htm)
organizational review procedure, strategy evaluation forms an essential step in the process
of guiding an enterprise.
It compares performance with desired results and gives feedback for management
to evaluate and take corrective
(http://www.socialresearchmethods.net/kb/intreval.php)
BOARD
OF DIRECTORS
GENERAL
MANAGER
R&D
OPERATING CO.
CAMEROON
YAOUNDE
CORPORATE
STAFF
OPERATING CO.
GABON
PRODUCT.
CHOCO.
SPREAD
OPERATING CO.
C. A. R.
PRODUCT
CHOCO. BARS
OPERATING CO.
D. R. C
OPERATING CO.
CAMEROONDOUALA
PRODUCT
CHOCO
TOFFEES
PRODUCT
CHOCO DRINK
Control which emphasizes on taking necessary actions in the light of gap that
exists between intended results and actual results in the strategic action.
Take corrective action if actual results fall outside the desired tolerance rang, action
must be taken to rectify the deviation
8
Basic steps in the control process, adapted and modified from Mullins, L.J., Management
and organizational behavior, 4th edition, London, Pitman Publishing,
(http://www.jallc.nato.int/newsmedia/docs/A%20Framework%20for%20the%20Strategic%20Planning
%20and%20Evolution%20of%20Public%20Diplomacy.pdf)
(https://www.bja.gov/evaluation/guide/documents/evaluation_strategies.html)
and application
and application
ROI
EPS
ROE
Stakeholder Measures top management should establish one or more simple stakeholder
measures for each stakeholder category according to its own set of criteria Shareholder
value This can be defined as the present value of anticipated future stream of cash flows
from the business plus the value of the company, if liquidated. The New York consulting
firm Stern Stewart & Company devised and popularized two shareholder value measures
known as the Economic value Added (EVA) and the Market Value Added (MVA). The
basic concepts of these are that businesses should not invest in projects unless they can
generate profit above the cost of capital. Economic value added (EVA) is a performance
measure developed by Stern Stewart & Co that attempts to measure the true economic
profit produced by a company. It is frequently also referred to as "economic profit", and
provides a measurement of a company's economic success (or failure) over a period of
time. Market value added (MVA), on the other hand, is simply the difference between the
current total market value of a company and the capital contributed by investors
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(including both shareholders and bondholders). MVA is not a performance metric like
EVA, but instead is a wealth metric; measuring the level of value a company has
accumulated over time. As a company performs well over time, it will retain earnings
Balanced Scorecard
Evaluate strategies from 4 perspectives:
1. Financial performance: how do we appear to shareholders?
2. Customer knowledge: how do customers view us?
3. Internal business processes: what must excel us?
4. Learning & growth: Can we continue to improve and create value?
Besides, performance of people and performance according to stakeholders can be added.
Balanced scorecard(Chococam)
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Company performance
Management Audit is used to evaluate how management handle the various corporate
activities such as
Revenue centers
Expense centers
Profit centers
Investment centers
Using Benchmarking
Continual process of measuring products, service, and practices against the toughest
competitors or those companies recognized as industry leaders
International Measurement Issues
1. International transfer pricing
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2. Repatriation of profit
3. Piracy
Strategic Information Systems
Short-term orientation
Goal displacement
Behavior substitution
Suboptimization
Timely
Pinpointing exceptions
Meeting/exceeding standards
Weighted-factor method
(http://smallbusiness.chron.com/techniques-strategy-evaluation-47712.html)
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CHAPTER NO. 2
CASE STUDY
Of
A
A STRATEGIC EVALUATION APPROACH
TO INCREASING THE VALUE
AND EFFECT OF TRAINING
IN
VIRTELLIGENCE INC.
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2.1 INTRODUCTION
The problem and the solution. Despite the fact that effective human resource development
(HRD) operations are vital to overall organization success, most organizations fail to
evaluate the impact and return on training investments that they could and should.
Traditional evaluation models and methods, with their focus on simply assessing the
scope of trainings effect, do little to help reap greater performance and organizational
impact from HRD and, in fact, can even undermine this purpose. This article argues that it
is performance, not HRD,that achieves (or does not achieve) results, and thus impact
evaluation must inquire more broadly into the performance management context.
Consequently, the Success Case Method (SCM) is presented and discussed. The final
portion of the article presents a case study derived from a recent SCM evaluation project
for a major business client the demonstrates and illustrates the working of the method.
In todays globally competitive changing market and constant technological advancement,
training is a given. Doing training wellgetting results from learning investmentsis a
must, not a choice. The pace of change persistently shortens the shelf life of employee
capability. Organizations must
continuously help employees master new skills and capabilities. The central training
challenge for organizations today is how to leverage learning consistently, quickly, and
effectivelyinto improved performance. Responsibility for creating and maintaining
performance improvement does not typically lie with any one individual or organization
unit; rather, it is a diffuse responsibility shared among senior executives, line
management, human resource development (HRD) professionals, and perhaps others such
as quality engineers or internal consultants. This diffusion of responsibility poses a severe
challenge for HRD professionals and especially for the task of evaluating HRD
initiatives.
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followed in organizations would really work. Then all that would be needed is to build or
buy good training programs, schedule and encourage employees to participate in them,
and all would be well. Although this is indeed the way that many organizations go about
training operations, it just does not work this way. When training is simply delivered as
a separate intervention, such as a stand-alone program or seminar, it does little to change
job performance. Most research on HRD shows that the typical organizational training
program achieves, on average, about a 10% success rate when success would be defined
as training having contributed to improved individual and organizational performance
(e.g., Baldwin & Ford, 1988; Tannenbaum & Yukl, 1992). That is, for every 100
employees who participate in training programs, about 10 of them will change their job
performance in any sustained and worthwhile way. Unless one is going to be satisfied
with continuing to let nearly 90% of ones training resources go to waste, then some sort
of new approach is needed Organizations that are serious about achieving better results
from training not only must work to improve the quality and convenience of training
(or to reduce the costs of ineffective training by putting it all into online formats) but must
work on the entire training-to-performance process, specifically on those nontraining
factors of the performance management system that bear on whether training-produced
skills get used in improved individual and business performance. Working on the entire
process means involving all the players: employees, training leaders, the line managers of
learners, and senior leadership. What is needed is an evaluation approach that is
based originally and principally on the reality that training effect is a whole-organization
responsibility. Providing feedback to the HRD department or function is partially useful
and cannot be the sole focus of evaluation. Other players in the organization should be
involved in the process to make training work.An evaluation framework that responds to
this whole-organization challengeshould focus on three primary questions:
1. How well is our organization using learning to drive needed performance
improvement?
2. What is our organization doing that facilitates performance improvement
from learning? What needs to be maintained and strengthened?
3. What is our organization doing, or not doing, that impedes performance
improvement from learning? What needs to change?
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Figure 1 shows that evaluation inquiry is focused on the entire learning performance
process, from identification of needs, to selection of learners,to engagement in learning,
to the transfer of learning into workplace performance.Evaluation findings and
conclusions are provided to the owners of the effect factors unearthed by the
evaluation. The owners are encouraged to take action to nurture and sustain things that are
working and to change things that are not. The ultimate goal of this evaluation inquiry is
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CHAPTER NO. 3
SWOT ANALYSIS
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3.1 STRENGTHS
The managers can also assess the appropriateness of the current strategy in todays
dynamic world with socio-economic, political and technological innovations.
Strategic Evaluation is the final phase of strategic management.
3.2 WEAKNESSES
Even if one part of strategy is missing it will affect the whole strategic plane
3.3 OPPORTUNITIES
3.3 THREATS
If the strategy is not being implemented properly it will impose negetive effect on
overall strategic plan as in chain effect.
If there any need for change in the strategy, then the type of change required to
ensure strategic effectiveness is adopted and if not then it will be a collpsing threat
to a strategy
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CONCLUSION
The final step in the strategic management process is evaluating results. Managers
must evaluate the results to determine how effective their strategies have been and
what corrections are necessary. All strategies are subject to future modification
because internal and external factors are constantly changing
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RECOMMENDATION
The Strategy evaluation methods assesses the effect of training by looking
intentionally for the very best that training is producing. When these instances are
found, they are carefully and objectively analyzed, seeking hard and corroborated
evidence to irrefutably document the application and result of the training.
Further, there must be adequate evidence that it was the application of the training
that led to a valued outcome. If this cannot be verified, it does not qualify
as a success case. Almost always, an Strategy evaluation methods study turns up
at least some very worthwhile applications of training that lead to valuable results
worth well more than the cost of the training. Equally often, however, there are
large numbers of participants who did not experience such positive results. These
stories become rich ground for digging into underlying reasons. When the
impediments to effect are compared to the factors that facilitated effect, a coherent
pattern typically emerges, leading directly to obvious changes in the training
and performance environment that, if they were changed, could lead to
greater effect. That is, because we know from the success cases what the
training effect is worth when it happens, we can make an economic argument
for what it would be worth to get more effect and thus compare this to
the costs of what it would takein terms of changes to related systems and
factorsto get that enhanced effect. In this way, an Strategy evaluation methods
study opens the door to performance consulting, giving the HRD practitioner
greater strategic access and leverage to make a difference while at the same time
helping clients build their capability to get more effect and return on their training
investments.
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http://en.wikipedia.org/wiki/Strategy. (n.d.).
http://en.wikipedia.org/wiki/Strategy.
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http://www.jallc.nato.int/newsmedia/docs/A%20Framework%20for
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