CORPORATE CULTURE

Change in any institution starts with leadership of an institution. We shall therefore look at leadership and Hofstede‘s cultural dimensions. Hofstede’s Cultural Dimensions Power Distance Index (PDI) focuses on the degree of equality, or inequality, between people in the country’s society. A High Power Distance ranking indicates that inequalities of power and wealth have been…

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ANALYTICAL FRAMEWORKS AND STRATEGIC MANAGEMENT

Professionalism means conforming either to the technical or ethical standards of profession or an occuplion regarded as such. The important role that managers play in modern business organizations requires a professional approach or what is called professionalism in management. Challenges presented by external and internal environment require practitioners who are qualified and professional trained on…

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STRATEGIC DECISIONS

This focuses on effectiveness or performance of the organization as a whole. Effectiveness or performance of an organization as a whole may depend on various factors e.g. role in social responsibility, corporate image, and business portfolio. Business portfolio i.e. the combination of businesses owned by an organization, most determines the organization‘s performance. The performance most…

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FORMULATION OF CORPORATE AND BUSINESS STRATEGY

Strategy Formulation is designed to guide executives in defining the business, their company, the aims it seeks, and the means it uses to accomplish these aims. Strategy formulation involves an improved approach to traditional long-range planning. Strategy formulation joins a future oriented perspective with concern for firm’s internal and external environment in developing its competitive…

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Environmental scanning

External • PESTEL – Political, Economic, Societal, Technological, Ecological and Legal and regulatory factors • Competitive environment-Industry Analysis – Porter‘s Model, • Strategic groups Internal: • Organizational Capability analysis- SWOT matrix, Value Chain analysis • Organization Structure • Culture (Belief, expectation, Values) • Resources (Assets, skills, competencies, knowledge)   Implications of the dynamics in external…

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Strategy is the link between the organization and its environment

1.Environmental changes shape opportunities and challenges facing organizations in Kenya. 2.Need to adjust to these changes to remain successful in future. 3.Nature of environmental changes:- Global, regional, national (local). The questions to ask are:- 1.What is the direction of change? 2.What is the speed of change? 3.What is the response capability of my company 4.What…

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Levels of Strategy in organizations

• Corporate strategy 1.Overall purpose and scope of the organization 2.Overall business domain 3.Corporate resource allocation 4.Value addition to the different parts of the organization ( ―2+2=5‖, outsourcing vs core business) 5.Principal focus – effectiveness. • Business Strategy 1.Competition with other businesses in the market. How will we compete successfully 2.Achievement of competitive advantage 3.Principal…

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