JWI 540 Discussion of Strategy Implementation in Week 9
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Please respond to the following question with your two peers:
Implementation of the Strategy
You’ve spent the previous few weeks planning your strategy and declaring a game-winning move for the Assignments firm you choose.
Share the game-winning strategy you choose for your business.
Determine the most significant obstacles to successfully implementing your planned change. These could include cultural, financial, operational, or other elements that could jeopardize the success of your new plan.
Determine the particular steps you’ll take to overcome these obstacles. To support your response, include references to this week’s content.
To get buy-in, how will you “sell” the plan?
1.PETER MATLAWA MATLAWA MATLAWA MATLAWA MAT
RE: Discussion from Week 9
COLLAPSE
Prof. Sturtevant, how are you today?
Share the game-winning strategy you choose for your business.
In an ever-changing business and technology environment, most organizations take advantage of a variety of competitive maneuvers to shake up or otherwise gain ahead. These competitive moves are made in executive suites, but they are carried out in the background by frontline personnel. It became clear that organizational success is dependent on employees, such as salespeople, doing well in their jobs just as much as it is on executives’ ability to understand strategy. Our game-winning Disruptive Innovation move was no exception. It has swept through the research, development, and innovation business. With the introduction of New Generation Sequencing (NGS), the old, difficult, time-consuming, and ineffective sequencing platform has been replaced. It wasn’t a complete replacement, but rather a technological improvement that has advanced medical research and innovation to new heights.
Determine the most significant obstacles to successfully implementing your planned change. These could include cultural, financial, operational, or other elements that could jeopardize the success of your new plan.
For most businesses, innovation is a nightmare. It’s basically a reversal tactic. It requires the firm to hire highly capable individuals who are both skilled and energetic. If the firm lacks the necessary competence to carry out the process, it has no choice except to outsource or recruit skilled personnel to carry it out. It was from there that cultural divisions arose. Because they were afraid of losing their jobs, our cultural basement did not readily accept new personnel. It takes new staff four to five months to fully acclimate in that environment. In addition, the project required a resourced and practical implementation, which necessitated more financing. This was owing to the infrastructure being purchased, which cost tens of thousands of dollars to build. The project’s feasibility was proven, and it had a high success rate.
Determine the particular steps you’ll take to overcome these obstacles. To support your response, include references to this week’s content.
There are a number of factors that prevent businesses or organizations from developing an environment that fosters creativity. To re-invent the optimistic attitude, strong leadership with constructive mind-sets is required. The following are some of the qualities that need to be improved: –
The incorrect kind of culture
Anything that makes your firm feel like more than just a place where you work 40 or more hours a week is considered corporate culture. As a result, corporate leaders must communicate, intervene, and change the culture to one that is inclusive, constructive, and collectively positive.
Obtaining financing and allocating resources
People don’t merely come up with ideas because they want to. Funding and resources must be applied by the company. The actions that are critical to your strategy must be converted into budget items, whether for a specific project or as part of a division’s or department’s annual budget. Because resources are finite, they must be distributed across different activities.
Communication
Managers across the organization must translate critical activities into precise actions that they and their teams will carry out in order to carry out the innovation strategy. As a result, it’s critical that all employees have a clear idea of what you’re aiming to accomplish as a team.
Encourage a high rate of adoption
When employees come up with new ideas, managers should figure out how to put them into action as quickly as possible, but they should also incorporate employees and integrate the changes into their day-to-day operations so that they feel like they are a part of the planning process.
To get buy-in, how will you “sell” the plan?
The passion and support that will be generated by discussing a plan will be obvious throughout the organization. There will be a large number of people eager to move forward with me. However, it must be remembered that expecting everything to be completed in a timely manner is unrealistic. Priorities for strategic implementation can be established. These are the ones: –
Assist stakeholders in seeing the big picture
Power dynamics must be eliminated. I
Use stakeholder values to your advantage.
Create an environment conducive to learning.
Regards
Peter
References
Week 9 Lecture Notes for JWI 540, Strategy
L. Sherman, Chapter 12: Hitting the Target
5 Ways the Best Companies Close the Strategy-Execution Gap, HBR, Mankins, 2017.
2020, Chima & Gutman. What It Takes to Lead in an Era of Exponential Change, Harvard Business Review
https://hbr.org/2000/03/meeting-the-challenge-of-disruptive-change
https://deansforimpact.org/5-strategies-to-increas…
2.Nkechinyere Adegboyega (Nkechinyere Adegboyega)
RE: Discussion from Week 9
COLLAPSE
Share the game-winning strategy you choose for your business.
A mix of mergers and acquisitions and vertical integration is my top-ranked strategy for gaining a competitive edge (JWI 540, 1). I’d buy a majority position in a company that makes crucial oilfield tool components. We need to buy a stake in Harald Phil Special Alloys and Titanium, a global provider of oil and gas tool and equipment components (Harald, 2). The family-owned business has been around for almost a century and has Europe’s largest stock of unusual alloys and titanium (2).
One of the most common reasons we are unable to accept more work from our customers is a lack of tools. Some of the crucial components for our tools are made by only one or two manufacturers throughout the world. Consequently, acquiring a majority stake in these companies, subject to antitrust examination and permission, will provide the corporation more control over the supply chain process, improve tool availability, boost revenue growth, and gain market share. It will ensure that the tool components we need to manufacture and deploy tools and equipment are on hand when we need them. Because scarcity is no longer an issue, we can give services to all of our customers who need them without turning away any business. We will also be free to pursue new business, knowing that the company has the means to carry it out (Adegboyega, 3). According to research, 79 percent of organizations with high-performing supply chains grow their revenue faster than the industry average (Gigante, 4). As a result, supply chain optimization via vertical integration is an important strategy for increasing financial advantage. Companies that optimize their supply chain save 15% on supply chain-related costs compared to companies that do not (4).
Determine the most significant obstacles to successfully implementing your planned change. These could include cultural, financial, operational, or other elements that could jeopardize the success of your new plan.
Antitrust restrictions pose the greatest threat to my top-ranked move, in my opinion. Harald Pihl is likely a supplier of products to some of Baker Hughes’ major competitors. As a result, some may be concerned that Baker Hughes’ move will sabotage competitors who already use this manufacturer for certain of their tool components. As a result, the most important risk associated with this action is obtaining the necessary government permissions.
Determine the particular steps you’ll take to overcome these obstacles. To support your response, include references to this week’s content.
My risk mitigation strategy include conducting the necessary due diligence to determine if aspects of the acquiree’s current operations are similar to those of Baker Hughes competitors. We need to figure out what percentage of rival items they get from Harald Pihl and devise a strategy to assure equity in dealing with competitors post-acquisition while keeping Baker Hughes competitive. We must properly explain this plan to the government and our competitors in order to get their support and obtain the necessary permissions for the acquisition (JWI 540, 5). To obtain the necessary regulatory permissions, we must repeat our due diligence in order to defend our position as an unbiased acquirer. This move will throw our opponents off balance, and this purchase will pose a threat to them. Baker Hughes is known for being an R&D-driven corporation, so this M&A is not something people would expect us to do. It would take a long time for our opponents to gather their forces and mount a return. They would retaliate, most likely via regulatory and antitrust agencies. I expect the competition to try to paint the combination as fraudulent, as they have done in the past with Baker Hughes mergers.
To get buy-in, how will you “sell” the plan?
Turning down work from customers during this period when the oil and gas industry is battling to survive the effects of the pandemic is not a good look revenue or margin-wise for any organization. Baker Hughes must position itself properly in terms of tool capabilities, ready to service all client activities and have the resources to snare contracts from competitors.
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