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Index
Workshop Case Analysis Debate Case Questions How to Use Your Workshop Resources Disclaimer Learning Objectives Multinational Corporations Introduction to Retailing and IKEA Introduction to IKEA Corporate Strategy Competitive Position: Competitive Advantage Strategic Planning Competition What is Sustainable Competitive Advantage Sustainable Competitive Advantage Competitive Strategies
Business Analysis Business Drivers Quantitative Methods Strategic Business Analysis Organisation Organisational Culture Financial Statements - The System Financial Statements - Analysis Financial Ratios
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Index
Strategic Capability: Core Competence Corporate Capabilities Core Competency Strategic Intent Innovation Theory of Constraints Value Chain IKEA Modified Value Chain Six Sigma Global Strategies Process Analysis for Strategic Decisions Game Theory Competitive Strategy: the Analysis of Strategic Position Lecture Competitive Strategy: the Analysis of Strategic Capability Lecture Global Strategies and International Advantage Lecture Process Analysis for Strategic Decisions Lecture
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Workshop
This workshop series is designed to compliment Teaching and Learning Strategies for undergraduate, postgraduate and executive level Strategic Management and related programmes and courses using the case studies featured in the text below. The overall aim is to support the learning contents offered in the relevant chapters of the book whilst expanding participants knowledge and skills base required to understand, review and analyse the decisions taken during the companys strategy development and implementation processes.
Strategy Analysis and Practice John McGee, Warwick Business School Howard Thomas, Warwick Business School David Wilson, Warwick Business School
Case Analysis
A case study is a particular method of qualitative research. Rather than using large samples and following a rigid protocol to examine a limited number of variables, case study methods involve an in-depth, longitudinal examination of a single instance or event: a case. They provide a systematic way of looking at events, collecting data, analyzing information, and reporting the results.
As a result the researcher may gain a sharpened understanding of why the instance happened as it did, and what might become important to look at more extensively in future research.
Case Analysis
Case studies lend themselves especially to generating (rather than testing) hypotheses.
The scope and relevance of case studies Types of case study Illustrative case studies Exploratory case studies Critical instance case studies Program implementation case studies Program effects case studies Cumulative case studies Business school case studies Medical case studies History of the case study Conclusions Notable case studies References See also External links
Workshop Debate
Workshop discussion topics have been divided into six parts according to the relevant chapters of the book involved in the case study:
1. 2. 3. 4. 5. 6.
Introduction Business Analysis Competitive Position: Competitive Advantage Strategic Capability: Core Competence Global Strategies Strategic Decision Making
You should ensure that you have understood the contents of chapters 6, 7, 11 and 13 prior to attending any of the above debates.
Also see: How to Use Your Workshop Resources Learning Objectives Learning from Case Studies: A Short Guide for Students
Case Questions
Please Note: At your instructors discretion the indicative questions below and elsewhere in this resource may be varied or deemed unnecessary for teaching and learning purposes for some courses or modules. 1. Using the information given in the Case Study and this resource, describe the Elements of IKEAs Organisational Culture.
Also see Learning Using Case Studies for further information Also see A Model for Case Analysis and Problem Solving
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Disclaimer
This information is provided with the understanding that the authors and publishers do not assume any legal responsibility for the completeness or accuracy of the contents or any opinions or views expressed on these pages or linked destination sources.
It is the nature of the media (Internet) that some of the pages may not always be available due to broken or dead links, withdrawals, etc. Whilst the publishers will be pleased to take any appropriate corrective action, for example, by replacing or removing the sources when possible, they unable to assume any legal responsibility for unavailability of any third party material for whatever reason beyond their direct control.
Learning Objectives
The main objective of the workshops is to evaluate IKEAs corporate strategic planning process and outcomes and their impact on the companys business level operations. Participants will have an opportunity of developing and enhancing their strategic thinking and internet research skills analytical and critical thinking skills by reviewing the factors that influenced corporate centre's decisions on the business
Multinational Corporations
A multinational corporation (MNC) or multinational enterprise (MNE) or transnational corporation (TNC) is a corporation/enterprise that manages production establishments or delivers services in at least two countries.
See also
Fostering Growth and Promoting a Responsible Market Economy - A G8 Declaration
Annual Report on the Guidelines for Multinational Enterprises The 2005 edition includes a special focus on corporate responsibility in the developing world
Multinational Corporations
Multinational corporations (MNC) are often divided into three broad groups: Horizontally integrated multinational corporations manage production establishments located in different countries to produce same or similar products. Vertically integrated multinational corporations manage production establishment in certain country/countries to produce products that serve as input to its production establishments in other country/countries. Diversified multinational corporations manage production establishments located in different countries that are neither horizontally or vertically integrated.
Multinational Corporations
Multinationals have played an important role in globalization. Given their international reach and mobility, prospective countries, and sometimes regions within countries, must compete with each other to have MNCs locate their facilities (and subsequent tax revenue, employment, and economic activity) within. To compete, countries and regional political districts offer incentives to MNCs such as tax breaks, pledges of governmental assistance or improved infrastructure, or lax environmental and labour standards. This process of becoming more attractive to foreign investment can be characterized as a race to the bottom.
Introduction to Retailing
Retailing consists of the sale of goods/merchandise for personal or household consumption either from a fixed location such as a department store or kiosk, or away from a fixed location and related subordinated services.[1] In commerce, a retailer buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells individual items or small quantities to the general public or end user customers, usually in a shop, also called store. Retailers are at the end of the supply chain. Marketers see retailing as part of their overall distribution strategy.
Introduction to Retailing
Shops and stores Retail pricing See also References
Introduction to IKEA
IKEA is a Swedish home furnishings retailer. It has 231 stores in 33 countries, most of them in Europe, the rest in the United States, Canada, Asia and Australia. More than 20 opened during 2005. IKEA is one of the few store chains to have locations both in Israel and in other Middle Eastern nations.
IKEA is generally pronounced (IPA /i'ke.a/) but in many English-speaking regions, it is pronounced (IPA /a'ki:/) rhyming with the word "idea". The IKEA catalogue, containing about 12,000 products, is printed in 160 million copies (2006) worldwide, and distributed free of charge. [2] IKEA is famous for its affordable furniture which consumers are required to assemble for themselves.
Introduction to IKEA
Overview Organization History Products Financial Community Impact Store Format Corporate structure Criticisms Diversity Design Reform IKEA Organisational Culture Popular Culture IKEA's Debut in Each Country Corporate Strategy See also Notes External links Data Directory
Introduction to IKEA
Ingvar Kamprad, believes that: "Most things still remain to be done - a glorious future! Time is your most important asset. Split your life into10minute units and sacrifice as few as possible to futurities" (Mclvor, Laurance, 1994: 38). The corporate culture of Ikea is built upon this philosophy all the way from design teams to suppliers and to the customer. A continuous strife for improvement in all areas of the value chain is an effective way to shape the industry to better fit Ikea's future strategies. Due to the uniqueness of Ikea's strategic positioning, being the largest competitor in its field, the firm has the advantage of setting the phase of the industry.
Introduction to IKEA
Bureaucracy is fought at all levels in the organization. Kamprad believes that "simplicity and common sense should characterize planning and strategic direction" (Bartlett et Al, 1993: 78).
In addition, the culture emphasizes efficiency and low cost which is not to be achieved on the expense of quality or service.
Symbolic policies, such as only flying economy class and stay at economical hotels, employing young executives and sponsoring university programs have made cost part of corporate culture and has further inspired the influx of entrepreneurship into the organization.
Source: Johan Olsson
Introduction to IKEA
For instance, all design teams enjoy complete autonomy in their work, but are expected to design new appealing products regularly.
Corporate Strategy
Background
Objectives International Strategy Case Study: How Ikea of Sweden Got to India
Financial Strategy Re. Case Study: How Ikea of Sweden Got to India
Also see Ikea knockoffs a hit with India's elite Swedish chain has no stores there, but its furniture catalog is used by carpenters as a guide to copy designs In India, its IKEA without the assembly
Source: Global Perspectives: Case Study: How Ikea of Sweden Got to India
Source: Global Perspectives: Case Study: How Ikea of Sweden Got to India
Derivatives traders at the Chicago Board of Trade. Foreign Exchange Options by Wikipedia
Main Text Source: Global Perspectives: Case Study: How Ikea of Sweden Got to India
Building acquisition, layout and design Sourcing franchise owners and human resources Establishing local supplier links Advertising and promotion of the new location (catalogues are expensive) Stocking the new store
The advantage of borrowing money locally is that the cost of borrowing will be protected from inflation and exchange rate fluctuations. Investment money taken from reserves of other operations may not carry any interest cost and therefore be a cheaper source of investment. In the case of India, if Ikea decides to franchise its operations there, the problem of financing the operation is taken care of through franchising fees and royalties. Return of profit/royalties to Ikea of Sweden could be facilitated in the transfer of product produced in India thus increasing the marginal return from everyone involved.
Source: Global Perspectives: Case Study: How Ikea of Sweden Got to India
Source: Global Perspectives: Case Study: How Ikea of Sweden Got to India
Ikea's, marketing manager believes that Consumer tastes are merging globally.
Costs are kept under control starting at the design level of the value-added chain. Ikea also keeps costs down by packing items compactly in flat standardized embalages and stacking as much as possible to reduce storage space during and after distribution in the logistics process (Economist, 1994: 101).
Source: Johan Olsson, 1996
Click on Image. Larger Image Source: Kanji Quality Culture Also see Management by Wikipedia.
Source: Global Perspectives: Case Study: How Ikea of Sweden Got to India
Source: Global Perspectives: Case Study: How Ikea of Sweden Got to India
Source: Global Perspectives: Case Study: How Ikea of Sweden Got to India
Today, the Government makes constant attempts to promote values like democracy and independence and India is working to have equal opportunities in all spheres of life. We cannot rule out the Indian Art, because it is also an Art of social, political and religious influences. It changed and evolved with the evolution of a civilization, which is full of remarkable innovation.
Source: Global Perspectives: Case Study: How Ikea of Sweden Got to India
Source: Global Perspectives: Case Study: How Ikea of Sweden Got to India
Source:
Business Analysis
1. Benefits of Business Analysis 2. Roles of Business Analysts 3. Business Process Improvement 4. Goal of Business Analysts 5. External Links Also see Quantitative Method From Wikipedia, the free encyclopedia
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Business Drivers
Also see
Association of Master Upholsterers and Soft Furnishers Furniture Industry Research Association (FIRA) Kitchen Specialists Association (KSA) National Bed Federation (NBF) The association for British Furniture Manufacturers (BFM) Economic Value Added
Larger Image Source: Metapraxis
Quantitative Methods
Quants Handbook
Lecture 1: Functions & Economic Relationships Lecture 2: Economic Models/Linear Models Lecture 3: Basic Differential Calculus Lecture 4: Optimisation Lecture 5: Functions of Several Variables Lecture 6: Unconstrained Optimisation Lecture 7: Constrained Optimisation Lecture 8: Growth & Dynamics Lecture 9: Introduction to Difference Equations
Click on Image Source: Brian C. McCarthy Ohio University
Value Chain
Managing Your Value Chain Organisation Organisational Culture attitudes, values, beliefs, norms and customs Organisational Capabilities Financial Analysis
Larger Image Click on Image Source: Wikipedia Click on Image Source: QuantAA
Organisation
An organization or organisation (read more about -ize vs -ise) is a formal group of people with one or more shared goals. The word itself is derived from the Greek word (organon) meaning tool. The term is used in both daily and scientific English in multiple ways. Organization terms Organisation in sociology Organisation in management and organisational studies Organization theories Organizational structures Pyramids or hierarchies Committees or juries Staff organization or crossfunctional team Matrix organization Ecologies "Chaordic" organizations See also
Related lists
References
Financial Ratios
A financial ratio is a ratio of two numbers of reported levels or flows of a company. It may be two financial flows categories divided by each other (profit margin, profit/revenue). It may be a level divided by a financial flow (price/earnings). It may be a flow divided by a level (return on equity or earnings/equity). The numerator or denominator may itself be a ratio (PEG ratio). Ratios
Flow-to-flow Level-to-level Ratio-to-ratio To cash flow To earnings To market cap Larger Image Download Financial Ratio Analysis (177K) for Microsoft Excel. Source: Baarns Consulting Group
Larger Image Click on Image Source: Vadim Kotelnikov, GIVIS, Ten3 East-West
Global Strategies
Literature Review
Going Global: Assess Market Opportunities Institutions and Business Strategies in Emerging Economies: A Study of Entry Mode Choice Globalization, Models of Competitive Advantage and Skills The Competition of Countries Competitiveness of Nations: The Fundamentals Economist Country Briefings
Click on Image Source: Agrium Inc. 2004
Strategic Planning
Strategic planning consists of the process of developing strategies to reach a defined objective. As we label a piece of planning "strategic" we expect it to operate on the grand scale and to take in "the big picture" (in contradistinction to "tactical" planning, which by definition has to focus more on the tactics of individual detailed activities).
Click on Image Source: Long Range Planning - International Journal of Strategic Management
"Long range" planning typically projects current activities and programs into a revised view of the external world, thereby describing results that will most likely occur (whether the planner wants them or not!)
Also See Introduction to Strategic Management
Strategic Planning
"Strategic" planning tries to "create" more desirable future results by
Strategic Planning
Methodologies Situation Analysis Identifying cultures Perspectives Ethnographical versus Clinical approach Functionalistic versus Interpretionistic approach Artifacts Visible artifacts Invisible artifacts Culture types Changing cultures and strategy Approaches Resistance Measurements Goals, objectives and targets Mission statements and vision statements Why strategic plans fail External links
See also
Hypercompetition
Larger Image Click on Image Source: Vadim Kotelnikov, GIVIS, Ten3 East-West
Complementing for Complexity: Leading Through Managing The first mover in an emerging market
Image by benchmarkporter.com
Resource-based view
Capabilities in the new economy Synergy Patents Effective leadership Teamwork Continuous learning
Larger Image Click on Image Source: Vadim Kotelnikov, GIVIS, Ten3 East-West
Tacit knowledge
Core Competency
Core Competency
The Work of Hamel and Prahalad
Strategic Intent
Corporate Vision, Mission, Goals and Strategies Your Enterprise Strategy Dynamic Business Strategy Strategy Innovation Marketing and Selling
Strategic Thinking
New-to-the-World Product Development Managing Your Value Chain Strategy Implementation
Larger Image Click on Image Source: Vadim Kotelnikov, GIVIS, Ten3 East-West
Innovation
Efficiency Improvement New ways of doing business
Fast Company Reaching and servicing customers The Entrepreneur Innovation project management
Roadmaps
Guiding principles Business processes
Click on Image Source: Vadim Kotelnikov, GIVIS, Ten3 East-West
Customer Satisfaction
Performance Management Performance Measurement System
Porter's Five Forces Model for Industry Analysis Economic Value Added (EVA) Business Architect
Larger Image Click on Images Source: Vadim Kotelnikov, GIVIS, Ten3 East-West
Theory of Constraints
Theory of Constraints (TOC) is a body of knowledge on the effective management of (mainly business) organizations, as systems. The author is Eliyahu M. Goldratt, with many others contributing to the body of knowledge.
The Thinking Process (TP) Throughput Accounting
Application-specific TOC solutions Operations Supply Chain / Logistics Finance and Accounting Project Management Marketing and Sales The Six Necessary and Sufficient Questions relating to Technology Development and practice Also See References
Value Chain
The value chain approach identifies two major activities- primary and secondary. Primary actives include production, marketing, logistics and after-sale functions. Secondary activities, on the other hand, are identified as support processes to primary activities.
Organisational Culture
Organizational culture comprises the attitudes, values, beliefs, norms and customs of an organization. Whereas organizational structure is relatively easy to draw and describe, organizational culture is considered to be less tangible and more difficult to measure. It is also called Company Culture.
Influences on organizational culture Strong/Weak cultures Classifying organizational culture Johnsons Cultural Web Hofstede Deal and Kennedy Charles Handy Edgar Schein Elements of culture Critical Views on Organizational Culture Figures in organizational culture See also Sources
Organisational Structure
Organizational structure is the way in which the interrelated groups of an organization are constructed. The main concerns are effective communication and coordination.
See also
Six Sigma
Six Sigma was pioneered by Bill Smith at Motorola in 1986[1]. Originally, it was defined[2] as a metric for measuring defects and improving quality; and a methodology to reduce defect levels below 3.4 Defects Per (one) Million Opportunities (DPMO). Six Sigma is a registered service mark and trademark of Motorola, Inc[3]. Motorola has reported over US$17 billion savings[4] from Six Sigma to date. AlliedSignal and GE became early adopters of Six Sigma and reported benefits of over US$300 million during its first year of application[5]. Their CEO's, Larry Bossidy and Jack Welch, played a vital role in popularizing Six Sigma. Other major organizations who claim to have benefited from Six Sigma implementation are Ford, Caterpillar, Microsoft, Raytheon, Quest Diagnostics, Seagate Technology, Siemens, Merrill Lynch, Lear, 3M and many more.
Click on Image Source: KETCH.ca
Six Sigma
Definition Application & Success
Healthcare Banking Insurance Construction Military
Methodology
DMAIC DMADV
Roles Required for Implementation Examples of Some Key Tools Used Criticisms of Six Sigma
Of its origin Of the term: Six Sigma Of statistics Of methods Of effects
Global Strategies
Globalisation
Larger Map Source: BizEd, University of Bristol
Global Strategies
Globalization (or globalisation1) refers to the worldwide phenomenon of
technological, economic, political and cultural exchanges, brought about by modern communication, transportation and legal infrastructure as well as the political choice to consciously open cross-border links in international trade and finance. Meaning & Debate History Nature and existence of globalization Characteristics Anti-globalization Pro-globalization (globalism) Other uses Measurement of Globalization Notes See also External links
Comparative Advantage
In economics, the theory of comparative advantage explains why it can be beneficial for two countries to trade, even though one of them may be able to produce every kind of item more cheaply than the other. What matters is not the absolute cost of production, but rather the ratio between how easily the two countries can produce different kinds of things. The concept is highly important in modern international trade theory.
International Trade
International trade is the exchange of goods and services across international boundaries or territories. In most countries, it represents a significant share of GDP. While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries. Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact. Increasing international trade is the usually primary meaning of "globalization".
Multinational Corporations
A multinational corporation (MNC) or multinational enterprise (MNE) or transnational corporation (TNC) is a corporation/enterprise that manages production establishments or delivers services in at least two countries.
Annual Report on the Guidelines for Multinational Enterprises The 2005 edition includes a special focus on corporate responsibility in the developing world
Multinational Corporations
Multinational corporations (MNC) are often divided into three broad groups: Horizontally integrated multinational corporations manage production establishments located in different countries to produce same or similar products. Vertically integrated multinational corporations manage production establishment in certain country/countries to produce products that serve as input to its production establishments in other country/countries. Diversified multinational corporations manage production establishments located in different countries that are neither horizontally or vertically integrated.
Multinational Corporations
Multinationals have played an important role in globalization. Given their international reach and mobility, prospective countries, and sometimes regions within countries, must compete with each other to have MNCs locate their facilities (and subsequent tax revenue, employment, and economic activity) within. To compete, countries and regional political districts offer incentives to MNCs such as tax breaks, pledges of governmental assistance or improved infrastructure, or lax environmental and labour standards. This process of becoming more attractive to foreign investment can be characterized as a race to the bottom.
Decision Theory
Decision theory is an interdisciplinary area of study, related to and of interest to practitioners in mathematics, statistics, economics, philosophy, management, and psychology. It is concerned with how real decision-makers make decisions, and with how optimal decisions can be reached. Normative and descriptive decision theory What kinds of decisions need a theory?
Choice between incommensurable commodities Choice under uncertainty Pascal's Wager of choice under uncertainty Alternatives to probability theory Intertemporal choice Social decisions
Decision Making
Decision making is the cognitive process of selecting a course of action from among multiple alternatives. Every decision-making process produces a final choice. It can be an action or an opinion. It begins when we need to do something but we do not know what. Therefore decision-making is a reasoning process which can be rational or irrational, and can be based on explicit assumptions or tacit assumptions.
Decision Making
Decision making style Cognitive and personal biases in decision making Cognitive neuroscience of decision making Decision making in groups
Principles
Decision making in one's personal life Decision making in healthcare Path dependency Decision making in business and management See also References External links Some important research journals
Larger Image Click on Image Source: DM Review
Game Theory
Game theory is a branch of applied mathematics that studies strategic situations where players choose different actions in an attempt to maximize their returns. First developed as a tool for understanding economic behavior, game theory is now used in many diverse academic fields, ranging from biology, psychology to philosophy. Beginning in the 1970s, game theory has been applied to animal behavior, including species' development by natural selection. Because of interesting games like the prisoner's dilemma, in which rational selfinterest hurts everyone, game theory has been used in political science, ethics and philosophy. Finally, game theory has recently drawn attention from computer scientists because of its use in artificial intelligence and cybernetics.
Game Theory
Representation of games
Normal form Extensive form
Types of games
Symmetric and asymmetric Zero sum and non-zero sum Simultaneous and sequential Perfect information and imperfect information Infinitely long games
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The Nature and Source of Cost Advantage A more detailed look at the nature and sources of cost advantage focussing on the links between economies of scale, scope and learning and the achievement of cost advantage. The Nature and Source of Differentiation Advantage A more detailed look at the nature and source of differentiation advantage and the risks associated with this strategy emphasising the difference between differentiation and cost based strategies. Identifying the potential for differentiation. The Concept of Competitive Advantage A definition of competitive advantage and a description of its constituent elements. An explanation of firm-specific imperfections as the source of competitive advantage and the interrelationship between industry structure and competitive advantage.. This latter point may be omitted from undergraduate lectures and developed in a tutorial context. Figure 6.7. An explanation of the concept of sustainability and its determinants (on undergraduate programmes this may be included a little later in the course)
Business Models This is an optional part of this session and may be considered in a later slot. An explanation of the terminology. The key elements of a business model. Business models in practice. Achieving a sustainable and defensible strategic position.
The Language of Resources and Capabilities a discussion of key terminology, for example capabilities, competences, strategic assets highlighting the fact that different authors use different terms to refer to similar concepts. SLIDE: Some key definitions SLIDE: Core Competences = Distinctive Capabilities = Strategic Assets The Importance of Intangibles an explanation of what is meant by intangibles and why they are considered to be of particular importance SLIDE: Identifying Intangibles p. 263
Click on Image. Larger Image Source: Department of Industrial Engineering and Management 2006, Helsinki University of Teachnology
Making Choices - an explanation of rules of thumb and option selection techniques emphasizing the fact that the way strategy is viewed determines, at least in part, the techniques used to aid decision-making. Slide: Table 13.1