21 Oct How can a corporation keep from sliding into the Decline stage of the organizational life cycle?
Questions: How can a corporation keep from sliding into the Decline stage of the organizational life cycle? Use JP Morgan Chase as an example.
120 words or more
NO Ai
Due: October 23
Source: attached pptx
STRATEGIC MANAGEMENT
Chapter 9: Strategy Implementation – Organizing for Action
Strategy implementation
Strategy implementation is the sum total of the activities and choices required for the execution of a strategic plan
Strategy implementation
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Strategy implementation involves establishing programs to create a series of new organizational activities, budgets to allocate funds to the new activities, and procedures to handle the day-to-day details.
Programs: The purpose of a program is to make a strategy action oriented
Example: One of the programs initiated by Ford Motor Company was to find an organic substitute for petroleum-based foam being used in vehicle seats.
Budgets: Planning a budget is the last real check a corporation has on the feasibility of its selected strategy
Procedures: Often called Standard Operating Procedures (SOPs), they typically detail the various activities that must be carried out to complete a corporation’s programs
Example: In a retail store, procedures ensure that the day-to-day store operations will be consistent over time (that is, next week’s work activities will be the same as this week’s) and consistent among stores (that is, each store will operate in the same manner as the others).
Organizational life cycle
The organizational life cycle describes how organizations grow, develop, and eventually decline. It is the organizational equivalent of the product life cycle in marketing.
These stages are Birth (Stage I), Growth (Stage II), Maturity (Stage III), Decline (Stage IV), and Death (Stage V).
The organizational life cycle
Six sigma
Six Sigma is an analytical method for achieving near-perfect results on a production line.
Originally conceived by Motorola as a quality improvement program in the mid-1980s
Although the emphasis is on reducing product variance in order to boost quality and efficiency, it is increasingly being applied to accounts receivable, sales, and R&D.
Six Sigma reduces the defects to only 3.4 per million—thus saving money by preventing waste.
Six sigma Process
Define
Define a process where results are poorer than average.
Measure
Measure the process to determine exact current performance.
Analyze
Analyze the information to pinpoint where things are going wrong.
Improve
Improve the process and eliminate the error.
Establish
Establish controls to prevent future defects from occurring.
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