The Value of Corporate Strategic Management Audiobook

All posts tagged The Value of Corporate Strategic Management Audiobook

Media Magic Digital Publishing

Published October 16, 2014 by Mayrbear's Lair

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If you are interested in getting more tips and information on building leadership skills or want to inquire further about our digital publications or purchase any of our accelerated learning Business Life titles, please visit:

Media Magic Publishing.

Tomorrow’s post will take a closer look at transmitting persuasive communication with successful outcomes. Until then … stay organized!

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To effectively communicate, we must realize that we are all different in the way we perceive the world and use this understanding as a guide to our communication with others.  – Tony Robbins

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Business Life Audiobooks

Published October 2, 2014 by Mayrbear's Lair

MM thanks

A special Thank You goes out to everyone who participated in yesterday’s Octoberfirst Celebration with Media Magic Digital Arts! We appreciate your friendship and support.

Lippincott Room at Princeton University Press

In the meantime, Mayr will be back with a new post tomorrow to wrap up this week’s discussion on how technology is changing the way we communicate.

For more information on Media Magic, our digital publications, or to purchase any of our accelerated learning Business Life titles, please visit our website at:

 Media Magic Publishing.

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The ability to change constantly and effectively is made easier by high-level continuity. – Michael Porter

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Octoberfirst Celebrations!

Published September 25, 2014 by Mayrbear's Lair

Red Horizon OctoberfirstHey everyone! Come celebrate October with Media Magic Digital Publishing! For one day only these titles will be available at no charge on amazon.com!

For more information on Media Magic, our digital publications, or to purchase any of our accelerated learning Business Life titles, please visit our website at:

Media Magic Publishing.

Asking the Right Questions

Published September 22, 2014 by Mayrbear's Lair

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Asking the right questions is an important component in the strategic decision making process.  In my ebook, The Value of Corporate Strategic Management (2014) I provided insights to effective leadership skills and examine more closely strategies that top performers implement to manage an organization more efficiently (Berry, 2014). For example, to help them devise the most effective strategic plans, leaders contemplate some of the following common questions that might be useful in the planning process:

  • How can we do that (don’t ask “Why can’t we do that?”)?
  • How else can we do that?  What else could we do?
  • Will you help me? What else could we do?
  • Who, what, why, where, when, and how much?
  • Who will do what and by when?

Conducting an analysis is important because it helps determine whether the functioning processes of an organization are operating efficiently. Ivey (2013) explains that by asking the right questions, managers can help identify root causes that affect employee outcomes. For example, are the issues that staff members face based on cultural or generational factors? Determining the answer can provide insights on how employees interact with one another (Ivey, 2013). In other words, by conducting an analysis, leaders are in a better position to diagnose a problem. The first step in this process is to gather information to determine the challenges as a means to better comprehend concerns and identify potential opportunities or threats. Asking the right question is a significant skill that can be extremely helpful in conducting an analysis because it gives the decision makers the opportunity to discuss their concerns and develop a collaborative effort on how to devise effective strategies to improve performances and outcomes.

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Asking questions like, “How can we do that?” or “How else can we do that?” are excellent questions to begin the process, however, as these kinds of questions are more general, they do not address specific topics like whether supervisors are achieving their goals or whether employees are engaged in high performances. In their book, Corporate Internal Investigations, Kramer and Lomas (2013) suggest that it is important for leaders to begin the internal analysis process by devising one single point of management control to prevent output chaos or derive at conclusions that are not reliable or credible. In addition, the analysis process should include a strong commitment from the highest level in the organization, supported by the appropriate authorities and provide terms that are plain and concise. This can serve to help dissuade any possibility of misconduct or undermining the investigation process (Kramer & Lomas, 2013).  These components can serve to help establish the integrity of the analysis process. In addition, conducting an organizational analysis can cause staffers anxiety where they become fearful of losing their jobs so, it should be managed in a way that does not interfere with daily operations or create an atmosphere of distress.

On Wednesday, we will take a closer look at how organizational analyses are used as a strategy to identify a company’s strengths and weaknesses. Until then … stay organized!

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Strategy must have continuity. It can’t be constantly reinvented. – Michael Porter

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acelerated learning ebboks ad Aug 2014

For more information on Media Magic, our digital publications, or to purchase any of our accelerated learning Business Life titles, please visit our website at:

Media Magic Publishing.

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References:

Berry, M. A. (2014). The Value of Strategic Management. USA: Amazon Digital Services, Inc.

Ivey, N. (2013). How to conduct internal investigations. Boca Raton, FL: CreateSpace Publishing.

Kramer, D., & Lomas, P. (2013). Corporate internal investigations (2nd ed.). Croydon, England, Great Britain: CPI Group (UK) Ltd.

 

Trends in Organizational Strategies

Published September 19, 2014 by Mayrbear's Lair

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In today’s market, organizations face many changes that create both opportunities and challenges as well. In his book, Organizational Project Management, Hossenlopp (2011) reminds us that some of the challenges organizations face today stem from the pressures of globalization, their need to increase revenue while decreasing costs, and regulation changes in banking policies (Hossenlopp, 2011). Company leaders that are able to observe and anticipate industry trends, however, are better equipped to act quickly with strategies that will help them maintain their competitive edge.

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In her book, Strategic Management, Mary Coulter (2010) explained that situation analysis strategies are meant to help leaders identify their strengths and weaknesses and the impact they have on organizational outcomes. In other words, if business leaders are unable to evaluate components like the flow of the economy or identify demographics that can effect trends in their market, it can have an negative impact on their ability to achieve successful goals (Coulter, 2010).

shrinking workforce

Michael Porter (2011), the leading authority on competitive business strategy, purports that savvy leaders are also cognizant of what actions to refrain from as well in running their businesses (Porter, 2011). Plus, due to the globalization of information and advances in technology the business landscape continues to evolve. This means leaders must also consider developing and implementing strategies with systems to help them evaluate the external environment to keep up with industry changes.

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In my ebook, The Value of Corporate Strategic Management (2013), my research work outlines how the evaluation of these and other components help industry leaders develop more efficient strategies while avoiding an economic crisis in the process (Berry, 2013). In the entertainment industry, for example, to maintain a competitive edge, artists devise strategies with the intent on setting new trends, like Lady Gaga, or keeping their theatrical productions fresh and entertaining. For instance, I was part of a production team hired to create special effects for Jim Stafford’s Show in Branson, Missouri. His show had been playing successfully for many years there. Headline performers like Jim, run the same show on a regular schedule. Because of this, they implement a variety of business strategies to keep the show thrilling and contemporary.

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One method they incorporate is to hire a production team like ours, to add visual effects, pyrotechnics, and illusions to enhance a show. Stafford, a seasoned and consummate guitar player, was also working a new song into the show that highlighted his genius as an experienced musician. He wanted to make the performance more exciting by adding fog and smoke effects with pyrotechnics to the segment. Stafford’s show also features guest artists that perform short skits or musical numbers that showcase talented singers. Another business strategy the producers incorporate, for example, is a periodic change to these guest segments by introducing a new dance routine or working a new song into the show from a current hit movie.

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These are some of the tactics that are used in this industry to help headliners maintain a competitive edge. It also serves to keep the production fresh and more appealing to modern audiences. Plus, this addresses another important component that can be detrimental to any live show. Headliners that perform the same show over an extended period of time, tend to become complacent which can result in stagnating performances. There is nothing worse for a theater goer who pays premium price to see a top caliber show only to experience entertainers that are bored and not committed to the performance process. The inclusion of a strategic plan that adds new elements to a live stage production also keeps the entertainers excited and more engaged. In conclusion, because changes in today’s business arena can occur at lightning speed, leaders with well researched and developed strategic plans will most  likely achieve higher outcomes over the long term because they are able to cope better with uncertainty in an ever changing landscape.

Well, that wraps things up on organizational strategies for this week. Have a great weekend everyone and stay organized. Ciao for now!

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Sound strategy starts with having the right goal. – Michael Porter

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Value Titles Ad

For more information on Media Magic, our digital publications, or to purchase any of our accelerated learning Business Life titles, please visit our website at:

Media Magic Publishing.

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References:

Berry, M. A. (2014). The Value of Strategic Management. USA: Amazon Digital Services, Inc.

Coulter, M. (2010). Strategic management in action (5th ed.). Upper Saddle River, NJ: Pearson Education, Inc.

Hossenlopp, R. (2011). Organizational project management: Linking strategy and projects. Vienna, VA: Management Concepts.

Porter, M. (2011). HBR’s 10 must reads on strategy. Boston, MA: Harvard Business Review Press.

Times They Are A-Changin’

Published September 15, 2014 by Mayrbear's Lair

changes

In today’s business world, organizations face many changes that create both opportunities and challenges as well. In my eBook, The Value of Corporate Strategic Management (2014), my research revealed a study conducted for the U.S. Department of Labor by the Rand Corporation, suggested that the nation’s work force is becoming smaller, more diverse, more mobile, and more vulnerable to global competition (Berry, 2014). This trend presents both positive and negative implications for business leaders when it comes to the development of organizational strategies. For example, Hossenlopp (2011) reported that some of the specific challenges organizations are facing include: (a) the pressure of globalization, (b) the need to increase profits while decreasing costs, (c) chaos from mergers and acquisitions, (d) an ongoing need to increase efficiency, (e) downsizing and outsourcing, (f) keeping up with the accelerated rate in technological advances, and (g) policies and legislative changes in banking and financial reporting (Hossenlopp, 2011). These are some of the significant components that have changed the world’s work force, transforming it into an arena with smaller more diverse staff support. As a result of these radical changes companies are creating environments that are virtual and mobile. This is because of their vulnerability to the effects of globalization.

music store

Conditions in the music industry, for instance, are highly competitive and unpredictable. Wilkstrom  (2013) suggests that in order to make a profit in the former economy of this industry, the record  company’s top goal was to maximize revenue and minimize unauthorized use (Wikstrom,  2013). In addition, they continued to face risks from their dependency to identify, sign and  retain artists with long term potential as well as the continued success of their current roster. Furthermore, the growth from digital and online music markets forever changed the music industry as they continued to experience a rapid decline of the physical market.

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Success driven companies, however, are able to see trends and anticipate industry changes that will affect them and devise plans quickly to adapt to them to help maintain a competitive advantage.  Michael Porter (2011) suggests that it is just as important to identify what actions not to take as well (Porter, 2011).  Leaders therefore, must develop efficient methods to adjust to industry changes without creating a new set of challenges. For instance, by evaluating some of these components, managers can develop strategies to adjust to a smaller workforce without creating an economic crisis. This can occur by devising systems to anticipate changes rather than simply create strategies as a response to a crisis or other urgent issues and pressing situations. Because of the rapid changes in the business environment, organizations that are able to cope with uncertainty are more likely to deliver higher performances. On Wednesday we will continue our discussion on effective strategies to cope with industry changes. Until then … stay organized!

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Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different. – Michael Porter

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Lippincott Room at Princeton University Press
 
For more information on Media Magic, our digital publications, or to purchase any of our accelerated learning Business Life titles, please visit our website at: Media Magic Publishing.
 
References:

Coulter, M. (2010). Strategic management in action (5th ed.). Upper Saddle River, NJ: Pearson Education, Inc.
Hossenlopp, R. (2011). Organiztional project management: Linking strategy and projects. Vienna, VA: Management Concepts.
Porter, M. (2011). HBR’s 10 must reads on strategy. Boston, MA: Harvard Business Review Press.

Wikstrom, P. (2013). The music industry: Digital media and society series. Malden, MA: Polity Press.

Rothaermel, F. (2013). Strategic management. New York, NY: McGraw-Hill.

Strategizing With Organizational Knowledge

Published September 12, 2014 by Mayrbear's Lair

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On Wednesday’s post we discussed a few ways that organizational knowledge is captured and used. Today’s post takes a look at how leaders use this knowledge to help them in the strategic planning process. For example, in my eBook, The Value of Corporate Strategic Management (2014), my research work revealed that organizational knowledge can be effective in the development of management strategy plans because it helps leaders formulate actions and activities that are focused on reaching a company’s goals (Berry, 2014). One strategy, for instance, a firm can implement to achieve the best chance of success, is to develop tactics that will help them embrace change.

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In her book, Strategic Management in Action, Mary Coulter (2010) asserts that when a firm has a weak standing in their industry, it is likely it will be reflected by lower profits.  This includes the implementation of creativity to encourage innovative ideas that will help them provide quality products and services (Coulter, 2010). This strategy is effective for the development of a firm whose intent is to stand way above the others and doing so by avoiding insular or isolated tactics. Leaders that cultivate organizations in an isolated environment, for example, face creating barriers which can prevent them from receiving important information that can affect their industry. It can also cause issues in acquiring resources and support. Plus it keeps them from missing out on trends that may result in their falling behind on what is considered new and innovative. These are important components for keeping in touch with consumer demands and needs.

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Finally, and equally important, is an organization’s ability to keep it fresh. Implementing strategies like situation analysis is imperative for keeping a company in check. Many managers, for instance, have a tendency to find out and establish what works, then become complacent by staying the course. This “if it ain’t broke, don’t fix it” tactic tends to create a lethargic and stagnant working environment; one where workers lose focus and are prone to making more errors. This can occur because of lower performance levels which result from the automatic pilot method of operation they have become accustomed to. To prevent this, the most effective leaders incorporate systems and programs to keep staff members motivated and inspired.

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In conclusion, companies that develop strategies meant to keep employees enthusiastic about their work, at entry and upper management levels, can help cultivate a staff that: (a) is proud of the firm, (b) are motivated to achieve more successful outcomes, and (c) are happy to offer their loyalty. In short, by applying organizational knowledge as part of a firm’s strategic management plans leaders are in a better position to navigate a firm through the fertile paths of success.

Well that wraps things up for this week. Have a great weekend everyone …  and stay organized!

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“You may never have proof of your importance but you are more important than you think. There are always those who couldn’t do without you. The rub is that you don’t always know who.”  – Robert Fulghum

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Available Now Value Audiobook Ad

For more information on Media Magic, our digital publications, or to purchase any of our accelerated learning Business Life titles, please visit our website at: Media Magic Publishing.

References:
Berry, M. A. (2014). The Value of Strategic Management. USA: Amazon Digital Services, Inc.

Coulter, M. (2010). Strategic management in action (5th ed.). Upper Saddle River, NJ: Pearson Education, Inc.