discussion response 128

Each reply should be a paragraph in length (or about 250 words) and must be substantive in nature. Do not simply say “I agree” or “That is great.” Specify why and be detailed in your explanation. Use research in your responses and provide 2 references.

RESPONSES

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RESPONSE 1:

Hello Professor and Class,

Strategy implementation refers to the adaptation of a chosen strategy into creating an organizational action as to achieve the company’s strategic goals and objectives (MSG, n.d.). In order to properly implement this, organizations must be able to create realistic goals and have the resources available to carry out this plan. Developing effective and clear policies, procedures, structure, budget control and leadership aid in a successful plan. The two key implementation controls that I have chosen for General Mills is their effectiveness of their policies and procedures and budget control.

Policies and procedures are one of the most important control systems for a company’s growth and functioning. With this being the foundation of General Mills, the company is able to set a model code of conduct within company premises and also it brings forth the employee centric policies and reward systems which instills a sense of responsibility and accountability among the employees which directly impact the company’s growth. For example, General Mills has the ability to enforce product quality, safety, and workplace behavior which overall helps the reputation of the company and ensures the organization can run smoothly.

The second implementation control I have chosen is General Mills ability to control company budget and forecasting. Company budget is also one of the key components which overall defines the company’s financial outlook and assurance to its employees about their personal growth while working for that organization. Based on projections and budgeting, the company has the ability to allocate the funds to various departments or policies. Effective budgeting is the key to General Mills’ success as the company will always have a plan for the employees and consumers. The company analyzes its growth in different market segments and focuses on the extensive operations that add value / increase revenue to the organization. Nevertheless, if the specific segment is not growing and does not increase profit, General Mills will determine if the specific product can continue to be sold within the market.

Overall, General Mills strategic control and its effectiveness is based on the criteria of how well it has created its brand value among the consumers and secondly and more importantly the performance of expanding their business to multiple segments, and lastly its growth analysis which ensures the company’s financial conditions and forecasting.

Thank you,

Jelyca

References:
MSG. (n.d.). Strategy Implementation – Meaning and Steps in Implementing a Strategy. Retrieved from https://www.managementstudyguide.com/strategy-implementation.htm

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Module 4 – Background

STRATEGY IMPLEMENTATION AND STRATEGIC CONTROLS

Strategy is implemented using organizational design (structure), people, culture, and control systems. Strategy must successfully work through these elements in order to produce performance. No matter how well a strategy is conceived, if an organization’s people cannot implement it, if the culture cannot support it, if the structure cannot coordinate it, and if the systems cannot measure and control it—the strategy will fail.

We will start by considering how of each of these components individually link to strategy. By way of the Case analysis, we will examine the integration or “fit” between the various components and strategy.

Structure

Organizational structure refers to the manner in which the lines of communication of authority are established, the manner in which work is divided up among organizational members, and the way that communication and work are coordinated. Different types of structures support different types of strategies. The key elements of structure that have the greatest effect on the success or failure of strategy implementation are centralization, boundaries, networks, and virtual organization.

Centralization

Centralization refers to the level of concentration of decision making. In a highly centralized organization, decisions are made by a relatively small number of people, usually concentrated at the highest levels of the organization. Standardization is common in centralized organizations, thus favoring economies of scale and efficient value chains.

Decentralized organizations are characterized by flexible and autonomous decision-making groups at operational levels in the organization. Such groups have the ability to rapidly adjust to changes in the marketplace and are well-suited to strategies that require innovation. However, because of duplication, economies of scale are difficult to achieve.

Emerging Structures

Borderless Organizations: Taking cross-functional teams to a new level, the borderless organization does not just assemble teams with members from different organizational levels and functions. Instead, the borderless organization removes barriers both vertically (between levels) and horizontally (between functions or departments). The implications for strategy implementation include increased information, transparency, and flexibility.

Alliance Networks: These are collections of suppliers, distributors, customers, and even competitors who have the ability to bring needed assets to bear on an urgent problem where there is insufficient time to develop the needed resources and capacities in-house. Organized and coordinated online, these networks can be mobilized and put to work instantaneously.

Virtual Corporations: An extension of Alliance Networks, the virtual corporation is an extra-organizational coalition of people and organizations brought together expressly to work on a specific problem or project. They can be assembled rapidly and dispersed as soon as the project is over, representing the ultimate in flexibility and speed in strategy implementation.

The following reading is an exposition on how various types of teams can be useful in strategy implementation:

Pryor, M.G., Singleton, L.P., Taneja, S., and Toobs, L.A. (2009). Teaming as a strategic and tactical tool: An analysis with recommendations. International Journal of Management, 26 (2), 320-334. Retrieved on November 6, 2012, from ProQuest.

Review this presentation on Organizational Design by Professor Anastasia M. Luca, Ph.D. MBA.

Strategic Controls (Systems)

Three organizational systems are essential to controlling strategy implementation:

Accounting and budgeting systems: These systems can be complex and not easily adapted. If a new strategy requires data that is not easily accessible through existing accounting systems, implementation can be slowed, and a potentially successful implementation can be jeopardized. If a new proposed strategy does not fit a familiar pattern, decision making can be become risky and unpredictable.

Information Systems: Information technology is playing an ever greater role in strategy implementation. IT provides point-of-sale information between retailers and manufacturers, streamlines logistics and distribution, and controls inventories. IT systems must be capable of providing the right information in the right format to the right people at the right time.

Measurement and Reward Systems: Rewards can be used to shape behavior in the direction of meeting strategic objectives. Rewards must be connected to measures of goal attainment (e.g., specific increases in market share), and proper time horizons (future rewards for future goals).

Review this presentation on Strategic Controls by Professor Anastasia M. Luca, PhD MBA.

People

Strategies that are based on distinctive competencies or unique capabilities are often dependent on people and their skills to carry them out. Thus, for successful implementation, sufficient numbers of people with the right skill sets are essential.

In-house or Import? Hiring raw talent and growing employees with the needed qualifications maximizes fit, but it can take years. Retraining existing workers with new skills can be problematic when old employees resist “learning new tricks.” Hiring employees with needed skills external to the organization is faster, but there is no guarantee that even they will fit well within the organization’s culture.

Motivation: It is not enough to have the right number of people with the right skills; people must also be motivated to work toward successful strategy implementation. Much is known about motivation, and many tools are available; these include tangible rewards (e.g., bonuses) and intangible rewards such as self-fulfillment. Perhaps the motivator with the most potential for eliciting long-term commitment to fulfilling the firm’s strategic goals is that of empowerment, which gives employees the discretion and autonomy to use their initiative.

The following article highlights the importance of having the right people in place to achieve strategic goals:

Garrow, V. and Hirsh, W. (2008). Talent management: Issues of focus and fit. Public Personnel Management, 37(4), 389-403. Retrieved on August 29, 2014 from ProQuest.

Culture

The fit between an organization’s culture and its strategy is critical. If a firm is depending on innovation to achieve differentiation, but the culture is risk averse or has a tendency to punish mistakes, the strategy will in all likelihood fail. Culture can support the strategy when three elements are in alignment:

Shared values that are aligned with the corporate vision and strategic focus along with a management style that fosters behavior that will support the competencies that confer competitive advantage.

Norms can act as strong controls for strategic implementation. They encourage behavior that is in alignment with shared values. People can circumvent rules, and they cannot be watched all of the time, but norms can promote the desired behavior even when nobody is watching.

Symbols model for employees what values and norms are important. Some important symbols include the vision and style of the founder of the company and folklore or stories that embody company values, rituals, and routines, and which reinforce the types of events and behaviors that are most desired and celebrated.

The following reading ties together the importance of systems, strategy, structure, and culture. It is highly readable and will help you see how all of these elements are interdependent and must align to achieve successful implementation:

Heneman, R. L., Fisher, M. M., and Dixon, K. E. (2001). Reward and organizational systems alignment: An expert system. Compensation & Benefits Review, 33(6), 18-29. Retrieved on November 6, 2012, from ProQuest.

Optional Reading

Aligning organizational culture with business strategy. (2013, November). Towers Watson. Retrieved on August 29, 2014 from http://www.towerswatson.com/en-US/Insights/Newslet…

Durden, C. (2012). The linkages between management control systems and strategy: An organic approach. Proceedings from The International Conference on Accounting and Finance. Singapore: Global Science and Technology Forum. Retrieved on August 29, 2014 from ProQuest.

Klosowski, S. (2012). The application of organizational restructuring in enterprise strategic management process. Management, 16(2), 54-62. Retrieved on August 29, 2014 from ProQuest.

 

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Vacation occupancy rates were expected to be up during March 2008 in Myrtle Beach

Vacation occupancy rates were expected to be up during March 2008 in Myrtle Beach; SC. Data in the file occupancy will allow you to replicate the findings presented in the newspaper. The data show units rented and not rented for a random sample of vacation properties during the first week of March 2007 to March 2008.

 

a. Estimate the proportion of units rented during the first week of March 2007 and the first week of March 2008.

 

b. Provide a 95% confidence interval for the difference in proportions.

 

c. On the basis of your findings, does it appear March rental rates for 2008 will be up from those a year earlier?

 

 

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Acc-202 7-1 project: investor report | acc-202 | Southern New Hampshire University

Competencies

In this project, you will demonstrate your mastery of the following competencies:

  • Describe how managerial accounting supports management information systems
  • Utilize managerial accounting techniques and models to support an organization’s strategic plan
  • Explain how managerial accounting is used to make decisions about short-term business opportunities, capital investments, and evaluating operational performance

Scenario

Your business has been open for a month, and you have prepared an income statement and completed a variance analysis on the data. Now you will meet with investors and a few other internal stakeholders to share your company’s progress over the past month and how it has performed with respect to your cost and budget projections. The investors would like to see the thought process behind your financial strategy and how your company has performed in its first month. They have therefore asked you to present a report that includes the costing and income data from your Project Workbook.

Directions

Submit a detailed report to your potential investors and other stakeholders to explain and defend your costing strategies and to share your business’s performance to date. Your report can be in the form of a PowerPoint presentation or a Word document (based on the templates provided in the What to Submit section). In either format, be sure to effectively communicate with your stakeholders by breaking down concepts and using investor-friendly language to build their trust and confidence. If you choose to do a PowerPoint presentation, you’ll need to include speaker notes for each slide.

  1. Introduction: Provide a short overview of your company and the purpose of this report.
    1. Business Overview: Name your company and describe its business and your vision for its future.
    2. Purpose of the Report: Explain the purpose of the report and describe why the information is important.
    3. Methods and Approach: Explain the management accounting methods you used for generating the information that you are about to share in terms of your adherence to industry standards and the American Institute of Certified Public Accountants (AICPA) code of ethics.
  2. Financial Strategy: Review your original business plan and costing strategies.
    1. Costing System: Justify the use of job order costing for this business. Be sure to compare and contrast the various costing systems you learned about in this course as part of your defense.
    2. Selling Prices: Share and explain the selling prices you established for each of your products. Be sure to reference your cost-volume-profit analysis in your defense.
    3. Contribution Margin: Share and explain your contribution margin per unit. Be sure to reference your cost-volume-profit analysis in your defense.
    4. Target Profits: Identify your break-even points for achieving different target profits. Then explain the target profits you selected for each area of your business. Be sure to reference your cost-volume-profit analysis in your defense.
  3. Financial Statements: Using the information in the Milestone Two Market Research Data Appendix, assess your financial performance to date.
    1. Statement of Cost of Goods Sold: Share the statement of cost of goods sold and logically interpret the business’s performance against the provided benchmarks.
    2. Income Statement: Share the income statement and logically interpret the business’s performance against the provided benchmarks.
    3. Variances: Illustrate all variances for the direct labor time and the materials price.
    4. Significance of Variances: Evaluate the significance of the variances in terms of the potential to impact future budgeting decisions and planning.

Word Template: Investor Report
Use this template to submit an 8- to 10-page Word document. Sources should be cited according to APA style

How would you perform the following multistep synthesis ?

How would you perform the following multistep synthesis ?

How would you perform the following multistep synthesis ? Benzene to 1,3,5-trimethyl benzene Step 1 HBr, Step 2 Sodium ethoxi
How would you perform the following multistep synthesis ? Benzene to 1,3,5-trimethyl benzene Step 1 HBr, Step 2 Sodium ethoxide, Ethanol, Step 3 Thionyl Chloride, Step 4 KOH Step 1 NaOH, Step 2 Water, Sulfuric acid, Mercury sulfate Step 1 HNO3/H2SO4, Step 2 Sn, HCl followed by NaOH, Step 3 3moles CH3Br, AICI3 b) Step 4 NaNO2, H2SO4, Step 5 Ethanol Step 1 3moles CH3B, AIC13, Step2 HNO3/H2SO4, Step 3 NVH2, Step 4 NaNO2, H2SO4, Step 5 Ethanol, 3Moles CH3Br, AICI3 Step 1 PTSA Step 2 NacN, Step 3 HCI, Step 4 Hydroboration, Oxidation. Step 1 Sulfuric acid, Step 2 HBr, Step 3 NaOH

 


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