Strategy Management in Organisation - Assignment Example

Strategy Management Assignment Assignment Portfolio Level: Level 6 Word Count: 3000 words plus 3 pages of Appendices Strategy Management LO6 Understand, critically evaluate and apply competing frameworks to management thinking and strategic decisions (analysis, knowledge & understanding). Please use the case studies and the slides that has been provided Please type the answer on the bottom of each questions (where it says answer) so that it is organised and the answer is easily found. Harvard style referencing (use Neil’s tool box which is a reference generator) At least 40 references needed Please use the case studies and the slides Please use the template provided below. At least 40 references Please apply figures and models to illustrate yours answers. Use Michael porter’s value chain Use Michael porter’s diamond Use Michael porter’s diamond model Use Michael porter’s three generic strategies Use Michael porter’s double diamond theory Please do not hesitate to message me for additional information Airline Industry Competitive Positioning. Prepare a learning portfolio of approximately 600 words for which the task are: (Please see the case study and initiate external research) 1. You have been appointed as strategic consultant to the chief executive of Ryanair which is a no-frills airline (Ryanair – see case page 621), and who has asked you to critically evaluate the term ‘differentiation’ and why it is important? Write a brief report relating to the related areas of academic literature addressing these questions and illustrate with examples of how competing firms in this industry have developed and sustained their differentiation strategies. Answer 300 words: Differentiation is the concept of distinguishing a service from other services offered by other providers (Porter, 2008). Basically, differentiation is supposed to make a product to be more attractive to a specific market target. When the strategy is applied properly, it tends to be very advantageous to the firm since it gives it an edge over its competitors by offering unique services or products. The airline industry necessitated a differentiation strategy since it has been plagued by losses due to the recession and rising oil prices. As a result of these two factors (recession and rising oil prices), the association of European airlines stated that European airlines would lose about 1.5 billion pounds in 2012. Due to these problems, Ryanair adopted a model or strategy which was associated with American southwest airlines (Rivkin, 2000). Using porter’s three generic strategies, Ryanair adopted the cost leadership and differentiation strategies (O’Connell & Williams, 2005). The firm changed its strategy to become a low cost airline hence gaining popularity among its target market for providing a unique and well-tailored service (Creaton, 2014). After the recession, budget carriers gained a competitive advantage with Ryanair being the market leader. Low cost carriers represented 37% of the market. The main competitor to Ryanair was Easyjet. However, unlike Ryanair which used secondary airports (Barbot, 2006), Easyjet used primary airports which are not available to a lot of its destinations. This made Ryanair to be the best budget airline (Barrett, 2004). Thus, Easyjet also adopted a low cost strategy by cutting back costs and offering a low cost service. Aer Lingus is another airline which introduced a differentiation strategy so as to cope with the rising challenges (Buyck, 2008). It has introduced a service specifically tailored for short distance business passengers. This offers passengers a differentiated service. Through this service, passengers who pay more will get more room leading to a differentiated service (Mulligan, 2014). 2. Briefly discuss the argument that Ryanair could successfully occupy a “hybrid” (simultaneous low cost and differentiation based strategic positioning). What would be the dangers of such strategies to a firm such as Ryanair? Illustrate your answer with examples of firms in other industries and which have successful in occupying such a hybrid position. Answer 300 words: Ryanair has successfully taken an innovative hybrid (low cost and differentiation based strategic positioning) strategy (Klophaus, Conrady & Fichert, 2012). Prior to Ryanair adopting this approach, the airlines in the industry were mostly highly priced. The firm had a belief that people would prefer to pay less to travel or move from one point to another. Thus, it adopted a hybrid approach. This approach has had a significant impact in the airline industry. In fact, the hybrid approach adopted by Ryanair has transformed the whole industry. Through its low cost strategy, the firm (Ryanair) has become the market leader in offering budget travel packages to its clients giving it a competitive advantage over other airlines (Kahawatte, 2010). In light of this, it is evident that Ryanair has attracted price conscious customers who would have used other alternative modes of transport. Ryanair utilized porter’s five forces strategy when adopting the cost leadership approach. The entrance of new firms into the airline industry and the availability of substitutes pose a great challenge to Ryanair. To discourage new entrants and stifle competition, the airline adopted the low cost model. This strategy drives away any new entrants since they are unable to make meaningful profits. Also, the airline analysed the threat of substitutes carefully. The availability of electric trains posed a challenge to Ryanair in Europe. To become a market leader, the airline had to offer its services at a very low cost so as to attract customers who would have otherwise taken trains (Hill, 1988). Also, the airline uses yield management to set ticket prices. An empty unsold seat in a plane is a liability to any airline company (C, 2013). Therefore, the company tweaks its prices based so as to maximise its earnings by making sure that all seats are sold at the highest fee (Alderighi, Nicolini & Piga, 2012). A hybrid approach can be dangerous due to a variety of reasons. First, Ryanair is in danger or at risk of being copied by its competitors such as Easyjet (Binggeli & Pompeo, 2005). Also, the use of a low cost approach can attract new entrants into the airline industry. Moreover, other airlines in the industry can decide to lower their prices so as to fight off competition leading to an unhealthy competition (de Wit & Zuidberg, 2012). In such a situation, Ryanair would need to drop its prices further to a point where it is no longer profitable. According to porter’s three generic strategies, focus on differentiation and cost leadership strategies would lead to the airline abandoning innovation. Global forces and The Western European brewing industry (p.79-81). Prepare a learning portfolio of approximately 600 which addresses the following assignment tasks: 1. Critically assess this Industries growth/stage in terms of the Industry life cycle model (consider different sectors/regions within the EU). What are the limitations to your analysis? Answer 200 words: The western European brewing industry is on the decline stage in its industry life cycle. The decline stage is inevitable in any industry (Klepper, 1997). This is brought about by the entry of new entrants into the industry and additional competition from other competing products such as wines which have gained popularity in northern Europe (Blee, 2005). Also, government intervention has greatly contributed to the decline stage (Blee, 2005). During the decline stage, there is a considerable reduction in sales while other firms close shop. Germany and the United Kingdom have seen a considerable drop in beer consumption between 2003 and 2007. Whereas the United Kingdom consumption dropped from 60.302 to 51.300 million hectolitres, Germany’s consumption dropped from 97.107 to 91million hectolitres (Blee, 2005). The decline stage is characterised by mergers and buyer outs as firms try to stay afloat or ward off competition. For instance, Am Bev merged with Belgian brewer group in 2004 to create InBev. Upon formation, InBev embarked on an exercise to buy the smaller competitors in the beer industry such as the American Anheuser-Busch. The analysis focussed on a few nations in Europe and then made a general assumption. Although there is a general decline of beer consumption in Europe, some European markets are posting positive results. Nations such as Italy and Austria show an increasing trend of beer consumption between the same period of time (2003-2007). 2. Identify what specific strategies should key players be pursuing at this stage(s) in the life cycle? Answer 200 words: Key players in the beer industry in Western Europe should pursue specific strategies during the decline stage so as to revive and ensure the continuity of the firms. During this stage (decline stage), sales suffer greatly while expansion slows down (Hambrick, & Schecter, 1983). Also, firms which did not exit the industry during the maturity stage are forced to bow out. The firms should adopt Michael porter’s three generic strategies model and use the differentiation strategy. As such, the key players in the industry should come up with new products that are unique or different from their competitors. The key players should introduce differentiated products such as non-alcoholic beers, fruit flavoured beers or extra cold lagers (Blee, 2005). Another strategy the key players should follow is mergers and consolidations. Through mergers, firms can become competitive again. The main advantages of mergers are grouped into three levels. A merger awards the firm an increase in market share, cost efficiency and value generation (Anand & Singh, 1997). Mergers often give the company an increased value when compared to the parent companies. Next, when firms merge, they become cost efficient by utilising the economies of scale since when products or beers are manufactured in a large scale, cost production per unit manufactured reduces. 3. Identify the Critical Success Factors (CSF’s) for this industry. Briefly discuss no more than 4 to 6 factors. Answer 200 words: The European beer industry depends on various critical success factors. However, these factors can differ or vary from one firm to another in relation to product superiority, economic conditions and the distribution networks or methods. These factors include price, the role of advertising, distribution, and international expansion (Ackoff & Emshoff, 1975). The role of price; the introduction of high priced premium products enables the firms in the industry to sell at higher prices. To succeed in this industry, a firm has to strive and sell its products at a higher price than the other brands hence becoming a price leader. Role of advertising: to gain market dominance, the beer manufactures have to undertake steps to promote their products nationally. Product differentiation and brand name form the main barrier to entry of new firms into the industry. Distribution: the beer distribution in the European markets is done via wholesalers who are each given a geographical location to supply. Thus, the distributor is the only one who is allowed to supply a specific brewer’s brand within his territory. Apart from distributing the brewer’s product, the wholesaler also should promote and market the brewer’s brand International expansion: firms in the brewing industry should expand outside their national boundaries and tap into the emerging markets such as china. Prepare a learning portfolio of approximately 600 words based upon the Case study: ‘Inside Dyson’: a distinctive company? (p. 115-117). Assignment Tasks: 1. Briefly describe how the internal and external value linkages at Dyson have been developed in order to gain leverage and extend their strategic capability – relate your answer to appropriate strategic concepts. Answer 200 words: Basically, strategic capabilities of a company are a group of resources, skills and capacities that create and give the firm a long term edge against its competitors (Wilson & Gilligan, 2012). They apply a differentiation strategy by making products unique products in a particularly saturated market. The firm’s major strength lies in its focus on design and engineering (Dyson et al., 2013). These are the basic or primary strengths of Dyson which give it a long term competitive advantage in the industry. The firm quadrupled its investment in research and design between 2004 and 2009. Thus, Dyson engineers spend most of their time coming up with innovative and unique ideas and products. For instance, they produce fans that tend to multiply air and vacuum cleaners that easily manoeuvre corners. By providing state of the art equipment, Dyson creates a demand for its products. Also, the firm shifted its base to Asia and China so as to lower manufacturing costs (Shepherd et al, 2011). Through this strategy, their products remain cheaper. The strategic capability of Dyson is thus high due to their innovative skills in coming up with unique products. However, experimental research is often expensive (Zikmund et al., 2012). By focussing on innovation and investing heavily in research and design, the firm adopts porters focus generic strategy. As such, the firm’s products are targeted to a particular niche where they sell few products but at higher prices. 2. Outline the key characteristics of the strategic leadership style of Dyson and consider any possible succession management issues should Dyson retire. Answer 200 words: In his leadership style, Dyson employs the entrepreneurial school of thought. This is characterised by having one person to be in charge of the firm (Mintzberg & Lampel, 2012). Thus, Dyson personalizes the leadership at his firm. He is the sole owner of the firm and does not list it in the stock market (shepherd et al, 2011). Also, he adopts a democratic or laissez faire leadership style. In this style, Dyson gives workers the right to make innovative decisions. Dyson employs a highly trained workforce since most of his employees are engineers and scientists. Therefore, he trusts them to make the right decisions but guides them when it is necessary. This kind of leadership is very successful in environments where workers are highly trained such as in Dyson. Also, Dyson is a risk taker. He moved his manufacturing business to china and Asia and ignored the union lash or negative publicly this move elicited. The move led to a loss of more than 800 jobs. Lastly, the leadership style of Dyson is characterised by the learning school of thought. This school states that organisations or entrepreneurs need to learn from their failures as they learn from their success. Some of Dyson’s products have failed dismally in the market. From these failures, Dyson learns and adopts new strategies. Should Dyson retire from the company, new management might decide to list the firm in the stock market. Additionally, there will be succession challenges since Dyson has personalised the firm’s leadership. 3. Assuming that their leadership and other competences can be imitated by competitors, briefly outline how Dyson can develop strategies to further protect their competitive positioning? Answer 200 words: Dyson maintains its competitive advantage by producing products of a superior or higher design (Mah et al., 2014). This makes it difficult and complex for its competitors to imitate the products. Nevertheless, Dyson should continue to invest more in their R & D department. In light of this, Dyson should hire a superior group of engineers and scientists who would focus more on innovation. Also, the firm should patent all their products to prevent its competitors from stealing Dyson’s designs or ideas (shepherd et al, 2011). Prepare a 600 words report based upon the ‘Culture Clash at Pharmacia’ case study and additional reading on Organisational and International Culture in sessions 7 and 8. In your answers you are expected to engage critically in the literature on the strategic management of change from a leadership perspective. (use case study and the slides on International culture & organisational culture that has been attached for this question) 1. What could senior managers have done before and after the merger to alleviate some of the problems that resulted from culture clash? Answer 300 words: One of the biggest challenges or problems with multinational organizations is the level to which they impose the dominant culture over the entire organization. This strategy although vital in some instances, it normally oppresses other cultures and diversity leading to culture clash. The managers should have first looked at the available frameworks such as GLOBE and Hofstede (House et al, 2004). The GLOBE framework was developed to challenge the theory that primary leadership characteristics are universally significant, and thus, they can be applied in any cultural setting. Also, the framework looks at the assumption that leadership functions are strongly affected or determined by culture. The framework is made up of nine key cultural dimensions; future orientation, gender egalitarianism, humane orientation, in group collectivism, institutional collectivism, performance orientation, power distance, and uncertainty avoidance (House et al, 2004). Through these dimensions, the GLOBE framework sheds some light on organisational behaviour in a global multicultural environment. Further, the managers would have taken their time to study the various theories linked to leadership such as the value belief theory. The value belief theory states that the beliefs and values accepted by members of different cultures not only determine or influence the specific rules and regulations or behaviours to be implemented or adopted, but also determine the level to which these behaviours, decisions, rules or regulations are deemed to be acceptable, effective and legitimate (House et al, 2004). The value belief theory is actually applicable to nearly all facets of the society such as institutions. Through this evaluation, senior managers would have learnt and familiarised themselves about the cultural differences that exist between the United States, Sweden, and Italy. As such, the managers would have been ready to encounter and solve the problems resulting from the cultural differences. Additionally, prior knowledge of the cultural differences would have enabled the mangers to figure out areas where conflict might arise (Moran, Abramson & Moran, 2014). After the merger, senior managers could organise joint meetings or invest in cultural training so as to familiarise themselves with the other cultures. 2. In Pharmacia-Upjohn merger how did employment practices and workplace regulations differ among the Americans, the Swedes, and the Italians, and what impact did these differences have on the operational efficiency of the merged company? Answer 300 words: The American employment practices and regulations are characterised by a bureaucratic style with a command and control nature (Po, 1998). On the other hand, the swedes are used to a team based management style. In this open management style, managers devolve responsibilities to other workers. Moreover, the managers are not monitored closely since they are trusted. Furthermore, Swedish executives form decisions based on a general consensus unlike their American counterparts who prefer handing down orders. Italians on the other hand possess a strong clear division between the workers and the managers. Unlike the swedes, the Italians have workplace hierarchies which are often steep. Additionally, they have strong family bonds or values. It is common knowledge that Italians leave their workplaces or meetings to go and tend ill children or relatives. This trait is frowned upon by the swedes. The cultural differences had a negative impact on the efficiency of the merged company. First, there was the problem of a language barrier (Moeller & Schlingemann, 2005). Communication is a vital aspect of any company or business. The cultural differences nearly eroded the primary reason of a merger. Some of the problems witnessed due to culture clash ranged from cancelled meetings, a decline in the morale of staff and new company demands such as writing monthly reports (Javaid, 2014). Also, it became difficult to integrate IT systems across the organisation. These challenges cost the merged firm nearly 200million dollars. Apart from these challenges or problems, the culture clash led to key staff quitting the organisation (such as the head of research and development at Pharmacia).Next, there was a delay in launching various products of the organisation. A management decision to locate a R & D function in London complicated the differences further since it led to a complicated reporting structure (Belcher & Nail, 2001). Prepare a 600 words report critically analysing challenges faced by HRM managers in global companies (see reading on Strategic HRM in session 21) (the session file has been attached) You have been assigned to an international team to develop a report on environmental pollution in the Mekong river delta in Southeast Asia. Experts joining the team are based in the Stockholm, Paris, Singapore and Sydney offices of your company. How are you going to make this team work effectively? Answer 600 words: According to Pinnington (2011), International human resource managers face three major challenges in their operations; cross cultural communication and diversity, global knowledge, and local and global sustainability. HRM managers in global companies face the issue of cross cultural communication and diversity mainly because they deal with employees hailing from different countries with different cultural backgrounds. This problem is made more complex when employees from different cultural backgrounds are made to work or operate in the same station. For any global firm to be successful, it must manage its diverse staff appropriately. In a diverse workplace, IHRM encounter communication and language problems, different work attitudes and varying value levels. For instance Vo & Stanton (2011) argues that Vietnamese workers were dissatisfied with the way Japanese Human resource managers operated their organisations. Although Japanese culture is similar to some Vietnamese cultural aspects such as the respect for authority, the Vietnamese culture stresses on the importance of ‘openness’. Vietnamese staff prefers decisions to me made democratically and openly (Vo & Stanton, 2011). This clashed with Japanese culture where decisions are made by top management. In light of this, it is vital for IHRM to comprehend the organisational culture of different nations (Alvesson, 1993). Global knowledge is another challenge faced by international human resource managers. For organisations to succeed in their operations and thus maintain a competitive advantage, international human resource managers have to manage knowledge across boundaries in an effective manner (Grant, 1996). In response to this challenge, KM strategies have been developed with the main aim of helping IHRM (Desouza & Evaristo, 2003). Krogh et al (2001) lists the main KM strategies as leveraging strategy, expanding strategy, appropriate strategy and probing strategy. A research study by Gassmann & von Zedtwitz (2003) indicated that it is a challenge to identify or figure out knowledge since it is primarily embedded in the organisation’s work groups, systems and processes. Local and global sustainability is the last major challenge faced by international human resource managers. IHRM must make decisions that are compliant with the host country’s laws. This can be challenging since ethical standards and laws vary from one nation to another (Welch & Björkman, 2014). Unlike traditional office management, remote project management is often complex (Gido & Clements, 2014). To make it successful, a virtual communication platform is needed so as to keep each and every team member in Stockholm, Paris, Singapore and Sydney offices updated. With this type of management, communication issues, minimal involvement and interaction of team members is expected. However, the adoption of the relevant strategies will minimise this problems. As such, I will first choose a project management system (Hanna, 2013). The use of the KM strategies would be vital for the success of the project. Source: Krough et al., 2000 The leveraging strategy would be used to transfer existing knowledge internally between the Stockholm, Paris, Singapore and Sydney offices. This is mainly because the concept of sharing knowledge improves creativity and innovation between the various company offices. An expansion strategy would look further at the existing knowledge about the Mekong river delta pollution. This will give the various experts a wider scope in understanding the problem. The appropriation strategy on the other hand will focus on the team getting new knowledge from outside sources or experts such as environmental bodies in south East Asia. 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