战略管理：建立持续竞争优势（第18版）课件汇 第6-11章 战略分析与选择 - 全球化与国际化

StrategicManagement:ACompetitiveAdvantageApproach,ConceptsandCasesEighteenthEditionChapter6StrategyAnalysisandChoiceCopyright©2024,2020,2017PearsonEducation,Inc.LearningObjectives6.1 Describethestrategyanalysisandchoiceprocess.6.2 Diagramandexplainthethree-stagestrategyformulationanalyticalframework.6.3 ConstructandapplytheStrengths-Weaknesses-Opportunities-Threats(SWOT)Matrix.6.4 ConstructandapplytheStrategicPositionandActionEvaluation(SPACE)Matrix.6.5 ConstructandapplytheBostonConsultingGroup(BCG)Matrix.LearningObjectives(continued)6.6 ConstructandapplytheInternal-External(IE)Matrix.6.7 ConstructandapplytheGrandStrategyMatrix.6.8 ConstructandapplytheQuantitativeStrategicPlanningMatrix(QSPM).6.9 Explainhowtoestimatecostsassociatedwithrecommendations.6.10 Discusstheroleoforganizationalcultureinstrategicanalysisandchoice.6.11 Identifyanddiscussimportantpoliticalconsiderationsinstrategyanalysisandchoice.Figure6.1TheComprehensive,IntegrativeStrategicManagementModelSource:FredR.David,“HowCompaniesDefineTheirMission,”LongRangePlanning22,(February1989):91.SeealsoAnikRatnaningsih,NadjadjiAnwar,PatdonoSuwignjo,andPutuArtamaWiguna,“BalanceScorecardofDavid’sStrategicModelingatIndustrialBusinessforNationalConstructionContractorofIndonesia,”JournalofMathematicsandTechnology(October2010):20.SeealsoMeredithE.David,FredR.David,andForestR.David,“ClosingtheGapBetweenGraduates’SkillsandEmployers’Requirements:AFocusontheStrategicManagementCapstoneBusinessCourse,”AdministrativeSciences11,(2021):10-26.TheProcessofGeneratingandSelectingStrategies(1of3)Amanageablesetofthemostattractivealternativestrategiesmustbedeveloped.Theadvantages,disadvantages,trade-offs,costs,andbenefitsofthesestrategiesshouldbedetermined.TheProcessofGeneratingandSelectingStrategies(2of3)Identifyingandevaluatingalternativestrategiesshouldinvolvemanyofthemanagersandemployeeswhoearlierassembledtheorganizationalvisionandmissionstatements,performedtheexternalaudit,andconductedtheinternalaudit.TheProcessofGeneratingandSelectingStrategies(3of3)Alternativestrategiesproposedbyparticipantsshouldbeconsideredanddiscussedinaseriesofmeetings.Proposedstrategiesshouldbelistedinwriting.Whenallfeasiblestrategiesidentifiedbyparticipantsaregivenandunderstood,thestrategiesshouldberankedinorderofattractiveness.Figure6.2TheStrategyFormulationAnalyticalFrameworkAComprehensiveStrategy-FormulationFramework(1of3)Stage1-InputStagesummarizesthebasicinputinformationneededtoformulatestrategiesconsistsoftheEFEMatrix,theIFEMatrix,andtheCompetitiveProfileMatrix(CPM)AComprehensiveStrategy-FormulationFramework(2of3)Stage2-MatchingStagefocusesongeneratingfeasiblealternativestrategiesbyaligningkeyexternalandinternalfactorstechniquesincludetheStrengths-Weaknesses-Opportunities-Threats(SWOT)Matrix,theStrategicPositionandActionEvaluation(SPACE)Matrix,theBostonConsultingGroup(BCG)Matrix,theInternal-External(IE)Matrix,andtheGrandStrategyMatrixAComprehensiveStrategy-FormulationFramework(3of3)Stage3-DecisionStageinvolvestheQuantitativeStrategicPlanningMatrix,orQSPMrevealstherelativeattractivenessofalternativestrategiesandthusprovidesobjectivebasisforselectingspecificstrategiesTheMatchingStage(1of3)Strengths-Weaknesses-Opportunities-Threats(SWOT)Matrixhelpsmanagersdevelopfourtypesofstrategies:SO(strengths-opportunities)StrategiesWO(weaknesses-opportunities)StrategiesST(strengths-threats)StrategiesWT(weaknesses-threats)StrategiesTheMatchingStage(2of3)SOStrategiesuseafirm’sinternalstrengthstotakeadvantageofexternalopportunitiesWOStrategiesaimatimprovinginternalweaknessesbytakingadvantageofexternalopportunitiesTheMatchingStage(3of3)STStrategiesuseafirm'sstrengthstoavoidorreducetheimpactofexternalthreatsWTStrategiesdefensivetacticsdirectedatreducinginternalweaknessandavoidingexternalthreatsFigure6.3ASWOTMatrixforaRetailComputerStoreSWOTMatrixListthefirm’skeyexternalopportunities.Listthefirm’skeyexternalthreats.Listthefirm’skeyinternalstrengths.Listthefirm’skeyinternalweaknesses.Matchinternalstrengthswithexternalopportunities,andrecordtheresultantSOstrategies.SWOTMatrix(continued)Matchinternalweaknesseswithexternalopportunities,andrecordtheresultantWOstrategies.Matchinternalstrengthswithexternalthreats,andrecordtheresultantSTstrategies.Matchinternalweaknesseswithexternalthreats,andrecordtheresultantWTstrategies.Figure6.4TheSPACEMatrixSource:BasedonH.Rowe,R.Mason,andK.Dickel,StrategicManagementandBusinessPolicy:AMethodologicalApproach(Reading,M

A:Addison-WesleyPublishingCo.Inc.,©1982),155.Figure6.4TheSPACEMatrixStrategicPositionandActionEvaluation(SPACE)Matrixfour-quadrantframeworkindicateswhetheraggressive,conservative,defensive,orcompetitivestrategiesaremostappropriateforagivenorganizationFigure6.4TheS

P

A

C

EMatrix(continued)Twointernaldimensions(financialposition[FP]andcompetitiveposition[CP])Twoexternaldimensions(stabilityposition[SP]andindustryposition[IP])Mostimportantdeterminantsofanorganization’soverallstrategicpositionTable6.1ExampleFactorsThatMakeUptheSPACEMatrixAxesInternalStrategicPositionExternalStrategicPositionFinancialPosition(FP)StabilityPosition(SP)ReturnoninvestmentTechnologicalchangesLeverageRateofinflationLiquidityDemandvariabilityWorkingcapitalPricerangeofcompetingproductsCashflowBarrierstoentryintomarketInventoryturnoverCompetitivepressureEarningspershareEaseofexitfrommarketPriceearningsratioRiskinvolvedinbusinessTable6.1(continued)ExampleFactorsThatMakeUptheSPACEMatrixAxesInternalStrategicPositionExternalStrategicPositionCompetitivePosition(CP)IndustryPosition(IP)MarketshareGrowthpotentialProductqualityProfitpotentialProductlifecycleFinancialstabilityCustomerloyaltyExtentleveragedCapacityutilizationResourceutilizationTechnologicalknow-howEaseofentryintomarketControloversuppliersanddistributorsProductivity,capacityutilizationSource:BasedonH.Rowe,R.Mason,&K.Dickel,StrategicManagementandBusinessPolicy:AMethodologicalApproach(Reading,MA:Addison-WesleyPublishingCo.Inc.,1982);155-156.StepsinPerformingSPACEAnalysis(1of3)Selectasetofvariablestodefinefinancialposition(FP),competitiveposition(CP),stabilityposition(SP),andindustryposition(IP).Assignanumericalvaluerangingfrom+1(worst)to+7(best)toeachofthevariablesthatmakeuptheFPandtheIPdimensions.Assignanumericalvaluerangingfrom−1(best)to−7(worst)toeachofthevariablesthatmakeuptheSPandCPdimensions.StepsinPerformingSPACEAnalysis(2of3)ComputeanaveragescoreforFP,CP,IP,andSP.PlottheaveragescoresforFP,IP,SP,andCPontheappropriateaxis.Addthetwoscoresonthex-axisandplottheresultantpointonX.Addthetwoscoresonthey-axisandplottheresultantpointonY.Plottheintersectionofthenewx

ypoint.StepsinPerformingSPACEAnalysis(3of3)Drawadirectionalvector

fromtheoriginoftheSPACEMatrixthroughthenewintersectionpoint.Thisvectorrevealsthetypeofstrategiesrecommendedfortheorganization:aggressive,competitive,defensive,orconservativeFiveLimitationsofSPACEMatrixAnalysisItisasnapshotintime.Therearemorethanfourdimensionsthatfirmscouldorshouldberatedon.Thedirectionalvectorcouldfalldirectlyonanaxisorcouldevengonowhereifthecoordinateis(0,0).Wheneverthishappens,analystsusuallyaddafewmoreevaluativecriteriathatcomprisetheFP(andanyother)axistomakethevectorshiftintoaparticularquadrant.Implicationsoftheexactangleofthevectorwithinaquadrantareunclear.Therelativeattractivenessofalternativestrategiesgeneratedisunclear.Figure6.5ExampleStrategyProfilesFigure6.5(continued)ExampleStrategyProfilesSource:BasedonH.Rowe,R.Mason,andK.Dickel,StrategicManagementandBusinessPolicy:AMethodologicalApproach(Reading,MA:Addison-WesleyPublishingCo.Inc.,©1982),155.Figure6.6ASPACEMatrixforABCCompanyTheBostonConsultingGroup(BCG)MatrixBCGMatrixgraphicallyportraysdifferencesamongdivisionsintermsofrelativemarketsharepositionandindustrygrowthrateallowsamultidivisionalorganizationtomanageitsportfolioofbusinessesbyexaminingtherelativemarketsharepositionandtheindustrygrowthrateofeachdivisionrelativetoallotherdivisionsintheorganizationTable6.2Reasonsto(orNotto)DiscloseFinancialInformationbySegment(byDivision)ReasonstoDiscloseReasonsNottoDiscloseStakeholderswillbetterunderstandthefirm,whichleadstogreatersupport.Toavoidrivalfirmsobtainingfreecompetitiveinformation.Managersandemployeeswillbetterunderstandthefirm,whichleadstogreatercommitment.Toavoidperformancefailuresbeingexposed.Disclosureenhancescommunicationprocessbothwithinthefirmandwithoutsiders.Toavoidrivalryamongsegmentsbecomingtoointense.BlankToavoidlucrativemarketsbeingrevealedtorivalfirms.Table6.3MarketShareDatafortheU.S.CandyIndustryCompanyMarketShare(percent)BCG:RelativeMarketSharePositionMarsTwentydecimaleightTwentydecimaleightslashtwentydecimaleightequalsonedecimalzerozerozeroHersheyThirteendecimaleightThirteendecimaleightslashtwentydecimaleightequalszerodecimalsixsixfourJellyBellyThreedecimalfourThreedecimalfourslashtwentydecimaleightequalszerodecimalonesixfourMondelezThreedecimaltreeThreedecimalthreeslashtwentydecimaleightequalszerodecimalonefivenineTootsieRollThreedecimalzeroThreedecimalzeroslashtwentydecimaleightequalszerodecimalonefourfourNestleOnedecimalthreeonedecimalthreeslashtwentydecimaleightequalszerodecimalzerosixthreeSource:BasedonDmitryDiment’s2021IndustryReportonCandyProductionintheUS,IBISWorld,August2021,p.1.Figure6.7TheBCGMatrixSource:BasedontheBCGPortfolioMatrixfromtheProductPortfolioMatrix,©1970,TheBostonConsultingGroup.Figure6.7TheBCGMatrix(1of3)QuestionMarks-Quadrantorganizationmustdecidewhethertostrengthenthembypursuinganintensivestrategy(marketpenetration,marketdevelopment,orproductdevelopment)ortosellthemStars-Quadrantrepresenttheorganization’sbestlong-runopportunitiesforgrowthandprofitabilityFigure6.7TheBCGMatrix(2of3)CashCows-QuadrantgeneratecashinexcessoftheirneedsshouldbemanagedtomaintaintheirstrongpositionforaslongaspossibleDogs-Quadrantcompeteinaslow-orno-market-growthindustrybusinessesareoftenliquidated,divested,ortrimmeddownthroughretrenchmentFigure6.7TheBCGMatrix(3of3)ThemajorbenefitoftheBCGMatrixisthatitdrawsattentiontothecashflow,investmentcharacteristics,andneedsofanorganization'svariousdivisions.Figure6.8AnExampleBCGMatrixFigure6.9AnExampleBCGMatrixFigure6.10TheInternal-External(IE)MatrixSource:Basedon:TheIEMatrixwasdevelopedfromtheGeneralElectric(GE)BusinessScreenMatrix.ForadescriptionoftheGEMatrix,seeMichaelAllen,“DiagrammingGE’sPlanningforWhat’sWATT,”inR.AllioandM.Pennington,eds.,CorporatePlanning:TechniquesandApplicationslpar;NewYork:AMACOM,1979.Figure6.10TheInternal-External(IE)MatrixTheIEMatrixisbasedontwokeydimensions:theIFEtotalweightedscoresonthex-axisandtheEFEtotalweightedscoresonthey-axisThreeMajorRegionsGrowandbuildHoldandmaintainHarvestordivestFigure6.11AnExampleIEMatrixFigure6.12TheIEMatrixTheGrandStrategyMatrix(1of3)GrandStrategyMatrixbasedontwoevaluativedimensions:competitivepositionandmarket(industry)growthallorganizationscanbepositionedinoneoftheGrandStrategyMatrix’sfourstrategyquadrantsFigure6.13TheGrandStrategyMatrixSource:BasedonRolandChristensen,NormanBerg,andMalcolmSalter,PolicyFormulationandAdministration(Homewood,IL:RichardD.Irwin,1976),16-18.TheGrandStrategyMatrixQuadrantcontinuedconcentrationoncurrentmarkets(marketpenetrationandmarketdevelopment)andproducts(productdevelopment)isanappropriatestrategyQuadrantunabletocompeteeffectivelyneedtodeterminewhythefirm'scurrentapproachisineffectiveandhowthecompanycanbestchangetoimproveitscompetitivenessTheGrandStrategyMatrix(continued)Quadrantmustmakesomedrasticchangesquicklytoavoidfurtherdeclineandpossibleliquidationextensivecostandassetreduction(retrenchment)shouldbepursuedfirstQuadranthavecharacteristicallyhighcash-flowlevelsandlimitedinternalgrowthneedsandoftencanpursuerelatedorunrelateddiversificationsuccessfullyFigure6.14RelationshipsAmongtheFiveMatchingToolsTheQuantitativeStrategicPlanningMatrix(QSPM)QuantitativeStrategicPlanningMatrix(QSPM)objectivelyindicateswhichalternativestrategiesarebestusesinputfromStage1analysesandmatchingresultsfromStage2analysestodecideobjectivelyamongalternativestrategiesTable6.4TheQuantitativeStrategicPlanningMatrix(QSPM)KeyFactorsWeightStrategy1Strategy2Strategy3KeyExternalFactorsBlankBlankBlankBlankPoliticalBlankBlankBlankBlankEconomicBlankBlankBlankBlankSocioculturalBlankBlankBlankBlankTechnologicalBlankBlankBlankBlankEnvironmentalBlankBlankBlankBlankLegalBlankBlankBlankBlankCompetitiveBlankBlankBlankBlankKeyInternalFactorsBlankBlankBlankBlankManagementBlankBlankBlankBlankMarketingBlankBlankBlankBlankFinance/AccountingBlankBlankBlankBlankProduction/OperationsBlankBlankBlankBlankResearchandDevelopmentBlankBlankBlankBlankManagementInformationSystemsBlankBlankBlankBlankStepsinaQSPMMakealistofthefirm’skeyexternalopportunitiesandthreatsandinternalstrengthsandweaknessesintheleftcolumn.Assignweightstoeachkeyexternalandinternalfactor.ExaminetheStage2(matching)matrices,andidentifyalternativestrategiesthattheorganizationshouldconsiderimplementing.StepsinaQSPM(continued)DeterminetheAttractivenessScores(AS).ComputetheTotalAttractivenessScores.ComputetheSumTotalAttractivenessScore.PositiveFeaturesoftheQSPMSetsofstrategiescanbeexaminedsequentiallyorsimultaneouslyRequiresstrategiststointegratepertinentexternalandinternalfactorsintothedecisionprocessCanbeadaptedforusebysmallandlargefor-profitandnonprofitorganizationsLimitationsoftheQSPMAlwaysrequiresinformedjudgmentsItisonlyasgoodastheprerequisiteinformationandmatchinganalysesonwhichitisbasedTable6.5(1of4)AQSPMforaRetailComputerStoreTable6.5(2of4)AQSPMforaRetailComputerStoreTable6.5(3of4)AQSPMforaRetailComputerStoreTable6.5(4of4)AQSPMforaRetailComputerStoreEstimatingCostsAssociatedWithRecommendationsThetermrecommendationisusedtoreferto“anyalternativestrategythatisselectedforimplementation.”Duetomonetaryand/ornon-monetaryconstraints,nofirmcanimplementallalternativestrategiesproposedinthematchingmatrices,sofirmsutilizetheQSPMandexpertjudgmenttoselectparticularstrategies.CulturalAspectsofStrategyAnalysisandChoiceOrganizationalcultureincludesthesetofsharedvalues,beliefs,attitudes,customs,norms,rites,rituals,personalities,heroes,andheroinesthatdescribeafirmWheneventsthreatenmeaning,individualsreactdecisivelyStrategiesthatrequirefewerculturalchangesmaybemoreattractivebecauseextensivechangescantakeconsiderabletimeandeffortThePoliticsofStrategyAnalysisandChoicePoliticalmaneuveringconsumesvaluabletime,subvertsorganizationalobjectives,divertshumanenergy,andresultsinthelossofsomevaluableemployeesPoliticalbiasesandpersonalpreferencesgetundulyembeddedinstrategychoicedecisionsFigure6.15HowtoGainandSustainCompetitiveAdvantagesCopyrightThisworkisprotectedbyUnitedStatescopyrightlawsandisprovidedsolelyfortheuseofinstructorsinteachingtheircoursesandassessingstudentlearning.Disseminationorsaleofanypartofthiswork(includingontheWorldWideWeb)willdestroytheintegrityoftheworkandisnotpermitted.Theworkandmaterialsfromitshouldneverbemadeavailabletostudentsexceptbyinstructorsusingtheaccompanyingtextintheirclasses.Allrecipientsofthisworkareexpectedtoabidebytheserestrictionsandtohonortheintendedpedagogicalpurposesandtheneedsofotherinstructorswhorelyonthesematerials.StrategicManagement:ACompetitiveAdvantageApproach,ConceptsandCasesEighteenthEditionChapter7ImplementingStrategies:ManagementandMarketingIssuesCopyright©2024,2020,2017PearsonEducation,Inc.LearningObjectives7.1 Describethetransitionfromformulatingtoimplementingstrategies.7.2 Discussreasonswhyannualobjectivesareessentialforeffectivestrategyimplementation.7.3 Identifyanddiscussthenatureandroleofpoliciesinstrategyimplementation.7.4 Explaintheroleofresourceallocationandmanagingconflictinstrategyimplementation.7.5 Discusstheneedtomatchafirm’sstructurewithitsstrategy.LearningObjectives(Continued)7.6 Identify,diagram,anddiscussdifferenttypesoforganizationalstructure.7.7 Identifyanddiscuss15do’sanddon’tsinconstructingorganizationalcharts.7.8 Discussthreestrategicproduction/operationsissuesvitalforstrategyimplementation.7.9 Discusssevenstrategichumanresourceissuesvitalforstrategyimplementation.7.10 Describekeystrategicmarketingissuesvitalforimplementingstrategies.Figure7.1TheComprehensive,Integrative,StrategicManagementModelSource:

FredR.David,“HowCompaniesDefineTheirMission,”LongRangePlanning22,1(February1989):91.SeealsoAnikRatnaningsih,NadjadjiAnwar,PatdonoSuwignjo,andPutuArtamaWiguna,“BalanceScorecardofDavid’sStrategicModelingatIndustrialBusinessforNationalConstructionContractorofIndonesia,”JournalofMathematicsandTechnology4(October2010):20.AlsoMeredithE.David,FredR.David,andForestR.David,“ClosingtheGapBetweenGraduates’SkillsandEmployers’Requirements:AFocusontheStrategicManagementCapstoneBusinessCourse,”AdministrativeSciences11,1(2021):10–26.Figure7.2ContrastingStrategyFormulationwithStrategyImplementationAnnualObjectivesRepresentthebasisforallocatingresourcesAreaprimarymechanismforevaluatingmanagersArethemajorinstrumentformonitoringprogresstowardachievinglong-termobjectivesEstablishorganizational,divisional,anddepartmentalprioritiesAreessentialforkeepingastrategicplanontrackFigure7.3TheStamusCompany’sHierarchyofAimsTable7.1TheStamusCompany’sRevenueExpectations(inmillions,$)Blank202320242025DivisionRomannumeraloneRevenues1point001point401.96DivisionRomannumeraltwoRevenues0point500point700.98DivisionRomannumeralthreeRevenues0point500.751.12TotalCompanyRevenues2point002.854point06Table7.2TheMostAdmiredCompaniesintheWorldRankCompanyAuthorComment1AppleHasauniqueecosystemthatlinksitsproducts2ABuildinghundredsofnewdistributioncenterstospeeddeliverytoyourdoor3MicrosoftThemostpopularcomputingsoftwarefirm4WaltDisneyProducesgreatmovies;ownsESPNandABCSports5StarbucksOfferstea,beer,wine,lunch,anddinner6BerkshireHathawayHighlydiversified;ownsmanycompanies7AlphabetOwnsGoogle,thebestsearchengineanywhere8JPMorganChaseWorld’slargestbankbymarketcapitalization9NetflixOffersstreamingservicestomorethan214millionsubscribersworldwide10CostcoWholesaleRanked10thonFortune’s2021listoflargestU.S.firmsbytotalrevenue11WalmartRankedfirstontheFortune500listofthelargestU.S.-basedfirms12SalesforceOwnsTableauSoftware,Pardot,andMuleSoftSource:Basedoninformationat/worlds-most-admired-companies/Policies(1of3)Policyspecificguidelines,methods,procedures,rules,forms,andadministrativepracticesestablishedtosupportandencourageworktowardstatedgoalsinstrumentsforstrategyimplementationPolicies(2of3)Policiessetboundaries,constraints,andlimitsonthekindsofadministrativeactionsthatcanbetakentorewardandsanctionbehaviorletbothemployeesandmanagersknowwhatisexpectedofthem,therebyincreasingthelikelihoodthatstrategieswillbeimplementedsuccessfullyprovideabasisformanagementcontrolandallowcoordinationacrossorganizationalunitsPolicies(3of3)Policiesreducetheamountoftimemanagersspendmakingdecisions.Policiesalsoclarifywhatworkistobedoneandbywhompromotedelegationofdecision-makingtoappropriatemanageriallevelswherevariousproblemsusuallyariseclarifywhatcanandcannotbedoneinpursuitofanorganization’sobjectivesPoliciesNeededforReturntoOfficeAfterthePandemicProvideexcellentconditionsattheofficewhereemployeescanavoiddistractionsorproblemsathome.Provideasafe,clean,andhealthyenvironmentattheoffice.Allowmoresocialtimeatworkandmorebrainstorming,engagement,camaraderie,collegiality,interaction,andconversationatlunchandotherappropriatetimesattheoffice.Donotsequesterpeopleinsolitarycubicles.Provideabundantlow-costconveniencesattheoffice,suchasawell-stockedkitchenarea,three-plytoiletpaper,luxuryhandcreamandsoapinthebathroom,etc.Makesuretheofficeisahappyandwell-organizedplacewhereemployeescantrulybeproductive;provideincentivesandbonusesforemployeeswhentheyaremoreproductive.Table7.3AHierarchyofPoliciesCompanyStrategyAcquireachainofretailstorestomeetoursalesgrowthandprofitabilityobjectives.SupportingPolicies“Allstoreswillbeopenfrom8a.m.to8p.m.MondaythroughSaturday.”“Allstoresmustsupportcompanyadvertisingbycontributing5percentoftheirtotalmonthlyrevenuesforthispurpose.”DivisionalObjectiveIncreasethedivision’srevenuesfrom$10millionin2022to$15millionin2023.SupportingPolicies“BeginninginJanuary2023,eachoneofthisdivision’ssalespersonsmustfileaweeklyactivityreportthatincludesthenumberofcallsmade,thenumberofmilestraveled,thenumberofunitssold,thedollarvolumesold,andthenumberofnewaccountsopened.”“BeginninginJanuary2023,thisdivisionwillreturntoitsemployees5percentofitsgrossrevenuesintheformofaChristmasbonus.”Table7.3(continued)AHierarchyofPoliciesProductionDepartmentObjectiveIncreaseproductionfrom20,000unitsin2022to30,000unitsin2023.SupportingPolicies“BeginninginJanuary2023,employeeswillhavetheoptionofworkingupto20hoursofovertimeperweek.”“BeginninginJanuary2023,perfectattendanceawardsintheamountof$100willbegiventoallemployeeswhodonotmissaworkdayinagivenyear.”Table7.4ExampleIssuesThatMayRequireaManagementPolicyToofferextensiveorlimitedmanagementdevelopmentworkshopsandseminarsTorecruitthroughemploymentagencies,collegecampuses,ornewspapersTopromotefromwithinortohirefromtheoutsideTopromoteonthebasisofmeritoronthebasisofseniorityTotieexecutivecompensationtolong-termorannualobjectivesToallowheavy,light,ornoovertimeworkToestablishahigh-orlow-safetystockofinventoryTypesofResourcesFinancialPhysicalHumanTechnologicalResourceAllocationResourceAllocationcentralmanagementactivitythatallowsforstrategyexecutionstrategicmanagementenablesresourcestobeallocatedaccordingtoprioritiesestablishedbyannualobjectivesManagingConflictConflictDisagreementbetweentwoormorepartiesononeormoreissuesEstablishingannualobjectivescanleadtoconflictbecauseindividualshavedifferentexpectationsandperceptions,schedulescreatepressure,personalitiesareincompatible,andmisunderstandingsoccurbetweenlinemanagersandstaffmanagersManagingConflict(continued)Conflictisnotalwaysbad.Anabsenceofconflictcansignalindifferenceandapathy.ApproachesformanagingconflictrangefromIgnoringtheproblemPhysicallyseparatingtheconflictingindividualsHoldingmeetingstoseekcompromiseTable7.5SomeManagementTrade-OffDecisionsRequiredinStrategyImplementationToemphasizeshort-termprofitsorlong-termgrowthToemphasizeprofitmarginormarketshareToemphasizemarketdevelopmentormarketpenetrationTolayofforfurloughToseekgrowthorstabilityTobemoresociallyresponsibleormoreprofitableTooutsourcejobsorpaymoretokeepjobsathomeToacquireexternallyortobuildinternallyTouseleverageorequitytoraisefundsTousepart-timeorfull-timeemployeesMatchingStructureWithStrategyStructurelargelydictateshowobjectivesandpolicieswillbeestablishedStructuredictateshowresourceswillbeallocatedTable7.6SymptomsofanIneffectiveOrganizationalStructureToomanylevelsofmanagementToomanymeetingsattendedbytoomanypeopleToomuchattentionbeingdirectedtowardsolvinginterdepartmentalconflictsToolargeaspanofcontrolToomanyunachievedobjectivesDecliningcorporateorbusinessperformanceLosinggroundtorivalfirmsRevenueorearning