Strategic management is the process of making company goals on a long-term basis, depending on the position one expects the company to be in the future. By the fact that the process is influenced by the business activities; then it also impacts decision making in the business. The main advantage of strategic management in decision-making is that it helps one narrow down to the best and wise decision. This is achieved by the fact that strategic management gives on the visualization of the future, and without clear goals, in the future, all ideas seem to make the best outcome. For instance, the type of projects to invest in will depend allot on the expected financial position to the company’s future.
Staffing is the recruitment, selecting, developing and training employees in an organization. It mostly deals which person is best for appraisal or particular department instead of the current working position of the employee (Tanova, C, 110 (2003).
It helps in building a healthy workforce that has the maximum ability to perform and produce quality output. Mostly on the technical part like accounting and technology departments where it was difficult to source the best personnel.
Staffing improves the morale and job satisfaction of the employees; this is achieved through the training, promotion and the compensation aspects done by the organization, which in turn develops the feeling that employees are appreciated in accordance with their effort.
The fact that it uses seniority as a way to categories the staffs for promoting, to which even inefficient employees get promoted too many senior positions, which can damage the company’s prospects
The staffing process blocks new and original ideas from new staff members with experience from gaining access into the organization, this probability blocks the company from diverse ways of doing things, yet there is a chance to improve.
This is the activity or process that company employees so as to introduce a new product in the market or increase the market share of a particular product. For example the Coca-Cola company, which tries to increase its market share by developing new products like the coke zero soda, also by intense promotion and marketing. For instance how they associate Coca-Cola with Christmas (Arkolakis, C.,1160, 2010.)
This is the strategy of developing new markets for particular products by targeting new customers, in a particular region. For example adding new features to the existing product, and having deferent quality levels in the market depending on the buying power of the target market. A good example of such is the Samsung smartphones where the company improved the RAM and the processor of the current phones, and by that, they were able to win more customers.
Product development: this is the rebranding of the introduction of a new product from an existing company. This is arrived at on the basis of customer needs, the nature of the market and the kind of competition from other players in the industry. For example, the banking sector which has switched more into the money transfer system using your phone, to transact and withdraw money from the bank accounts.
The functional structure means that the reporting relationship towards the top manager of the organization is split based on their functions areas, while the division structure the organization functions are split according to the service line, product or the market base. It is more of a specialized division than a functional structure.
As for me, the functional structure is the best to implement because, it is cheap compared to division structure, as it lowers the reputation of resources and also the structure maximizes the functional performance all through because all the human skills and knowledge are all concentrated to one working subdivision in the business setup. Therefore harvesting all the possible potential without duplication of the limited resources (Miles, R and Snow, C. 45, 1984)
The code of conduct in business is a management tool used to set out the expected values, responsibilities and the ethical obligations of a company of business. The code is important as it helps employees to handle ethical dilemmas while working for the organization and also have in mind the expectations of the company while delegating their responsibilities. The answer to the question is that I would implement a code of business conduct in reference to the compliance to the legal regulations, personal responsibilities, the projected management support, and the company values on the day to day activate (Kaptein, and Schwartz, 115, 2008)
Kaptein, M. and Schwartz, M.S., 2008. The effectiveness of business codes: A critical examination of existing studies and the development of an integrated research model. Journal of Business Ethics, 77(2), pp.111-127.
Miles, R.E. and Snow, C.C., 1984. Designing strategic human resources systems. Organizational Dynamics, 13(1), pp.36-52.
Tanova, C. (2003). Firm size and recruitment: staffing practices in small and large organizations in North Cyprus. Career Development International, 8(2), 107-114.
Maurer, I., 2010. How to build trust in inter-organizational projects: The impact of project staffing and project rewards on the formation of trust, knowledge acquisition and product innovation. International Journal of Project Management, 28(7), pp.629-637.
Arkolakis, C., 2010. Market penetration costs and the new consumer’s margin in international trade. Journal of political economy, 118(6), pp.1151-1199.
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2018). Business Policy And Strategy. Retrieved from https://myassignmenthelp.com/free-samples/business-policy-and-strategy.
"Business Policy And Strategy." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/business-policy-and-strategy.
My Assignment Help (2018) Business Policy And Strategy [Online]. Available from: https://myassignmenthelp.com/free-samples/business-policy-and-strategy
[Accessed 06 April 2020].
My Assignment Help. 'Business Policy And Strategy' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/business-policy-and-strategy> accessed 06 April 2020.
My Assignment Help. Business Policy And Strategy [Internet]. My Assignment Help. 2018 [cited 06 April 2020]. Available from: https://myassignmenthelp.com/free-samples/business-policy-and-strategy.
MyAssignmenthelp.com delivers assignment help to millions of students of USA. We have in-house teams of assignment writers who are experts on wide ranges of subjects. We have appointed teams of native writers who provide assignment help to students in New York City and all over the USA. They are skilled assignment writers who successfully cater to search terms like do my assignment in the USA
Answer: Introduction Introduction to Accounting and Service Industry The main concern of this assessment is to analyse the role of accounting service industry in relation to other businesses which are operating in Australia. The accounting service industry has received immense recognition in the wake of scandals and growth of different businesses in the market. The main products which are offered by accounting service industry to different bus...Read More
Answer: Introduction Determination of the stakeholders is important for the contemporary business organizations due to the reason that diverse range of internal and external stakeholders is relevant in the current business scenario. The more effective will be the management of the stakeholders, the more will be the organizational competitiveness in the long term. However, it should also be noted that strategic approach should also be di...Read More
Answer: It has been found that the Collins foods as their corporate strategy make use of the cost leadership and differentiation strategy. These strategies are aimed at achieving the competitive advantage over the market rivals. The company has adopted the differentiation strategy as it can result in severe business benefits for the organization. It is designed to establish huge brand value which is different and unique from its marker competi...Read More
Answer: To: All the HR employees From: HR department Date: 02-02-2019 Subject: Contract Employment and its importance Hello everyone, Hope you all are doing fine! This is to inform you about the vitality of Contract Employment in workplace. You all might be well aware of the fact that the contract of employment is a very important document because it ensures regulation of all the terms and conditions of the very employment agreemen...Read More
Answer: Discuss a range of relevant approaches to quality management Royal Flying Doctor Service of Australia (RFDSA) is among the leading and most comprehensive aero-medical organizations globally. It provides primary and emergency health care amenities for people living in remote, rural and local areas of Australia (Australian Government: Department of Health, 2018). Royal Flying Doctor Service of Australia is a non-profit organisation...Read More
Just share your requirements and get customized solutions on time.
Our writers make sure that all orders are submitted, prior to the deadline.
Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.
Feel free to contact our assignment writing services any time via phone, email or live chat.
Our writers can provide you professional writing assistance on any subject at any level.
Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.
Get all your documents checked for plagiarism or duplicacy with us.
Get different kinds of essays typed in minutes with clicks.
Calculate your semester grades and cumulative GPa with our GPA Calculator.
Balance any chemical equation in minutes just by entering the formula.
Calculate the number of words and number of pages of all your academic documents.
Our Mission Client Satisfaction
Very fast and smooth service. The assignment I have received was highly satisfied.
it was grade homework and great time , I have a 5 point thanks , I will work with you always.
It was done very nicely and well before the deadline. I am very happy with the content and the expert
The work done was amazing! Helped me to get through my semester in flying colors. Worth every penny!