Implementing Strategy

Implementing Strategy

For this Critical Thinking Assignment, you have been asked by IKEA to make a suggestion for an organizational chart that IKEA can consider to better support its international strategy. Let’s assume that some top IKEA executives like and want to keep the current structure. (See:

http://www.ikea.com/ms/en_US/this-is-ikea/company-information/index.html#organization for this structure.) However, recently there has been pressure from a few IKEA leaders to consider that the company must become more innovative in its approach to global expansion.

To complete the new proposed organization structure, review the IKEA case study from Chapter 8 of your textbook. Then review some additional information about IKEA on the internet. Also, review the organizational design elements in this week’s module lecture. Make sure you fully understand the concepts presented in Chapter 9 of the textbook.

Decide what you think would be the best organizational structure for IKEA at this point in time, based on the strategy implementation concepts presented in this course. Be aware that you will need to substantiate your recommended organizational structure changes, or justify your recommendation to keep the current structure.

Then use the internet to find a free software program that can be used to develop an organizational chart (or you may choose to develop the organizational chart in Word).

Include the following elements in a well-written paper:

  • Introduce the thesis of your paper (what you will be presenting).
  • Introduce your organizational chart(s).
  • Discuss and explain how you determined that this structure should be implemented by IKEA.
  • End with a summary statement of the highlights of your paper.

Your well-written paper should meet the following requirements:

  • Be 3-4 pages in length, which does not include the required title page or reference page, which are never a part of the content minimum requirements.
  • Use APA style guidelines.
  • Support your submission with course material concepts, principles, and theories from the textbook and at least two scholarly, peer-reviewed journal articles( recently published articles) unless the assignment calls for more.
  • In citation need to use the hanging format where second, third lines are indented 7 spaces (please pay attention to this point it affect the grading score ( see the attachement for how to set-up reference page.
  • Expand more on your thoughts. Supportive sources, recently published articles.

Required readings 

  • Chapter 9 (“Execution” section) in Foundations of Strategy.
  • Chu, V., Girdhar, A., & Sood, R. (2013). Couching tiger tames the dragonBusiness Today22(15), 92-96.
  • Radomska, J. (2014). Model of successful strategy execution: Revising the conceptProblems of Management in the 21st Century, 9(3), 213-222.

    Running head: IDENTIFYING THE BEST PRACTICES IN STRATEGIC 1

     

     

     

     

    SAMPLE PAPER

     

    Identifying the Best Practices in Strategic Management

    Gertrude Steinbeck

    ORG 500 – Foundations of Effective Management

    Colorado State University – Global Campus

    Dr. Stephanie Allong

    August 6, 2010

    The Running head is required. The title page should have the words:

    Running head: followed by the first

    50 characters of the title in call caps.

    formatted is

    Page numbers should

    be inserted in the top

    right corner.

    Information on the Title

    Page is centered in the top

    half of the paper. All

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    capitalized and not bold.

    Papers should be

    typed in a 12 pt, Times

    New Roman font with

    1 inch margins on all 4

    sides and the entire

    paper is double

    spaced.

     

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    IDENTIFYING THE BEST PRACTICES IN STRATEGIC 2

    Identifying the Best Practices in Strategic Management

    Strategic management and corporate sustainability are two important dynamics of

    modern-day organizations. It is important for organizational leaders to have an understanding of

    the theoretical applications of strategic management as a means of addressing corporate

    sustainability. The purpose of this paper is to provide definitions and an understanding of

    strategic management and corporate sustainability. An overview of the Walgreen Company, the

    organization of study, is also provided in order to understand how the company has utilized

    strategic management to implement sustainability initiatives for long-term financial performance.

    Strategic Management

    The function of management is to plan, organize, lead, and control the operations of an

    organization (Robbins & Coulter, 2007) and includes strategic management. Strategic

    management is an approach in which organizations create a competitive advantage, enhance

    productivity, and establish long-term financial performance. Chandler (as cited in Whittington,

    2008) defines strategy as “the determination of the basic long-term goals and objectives of an

    enterprise, and the adoption of courses of action and the allocation of resources necessary for

    carrying out these goals” (p. 268). Similarly, Wheelen and Hunger (2008) define strategic

    management as the managerial decisions and actions of an organization that achieve long-run

    performance of the business, with benefits such as:

     Clearer sense of vision for the organization

     Sharper focus on what is strategically important

     Improved understanding of a changing environment.

    The Strategic Management Model (SMM) provides the framework for integrating strategic

    planning into an organization so that the aforementioned benefits are realized.

    Repeat the title of your paper at the

    beginning. This is not a header; therefore it

    is not to be bold, but all major words are

    capitalized. Do not add a header at the

    beginning of your paper as the first

    paragraph should clearly identify the

    objective of your paper.

    Each paragraph

    should be indented ½

    inch or 5 spaces from

    the left margin.

    A level 1 header should be bold, centered

    and all major words capitalized. See

    https://owl.english.purdue.edu/owl/resource

    /560/16/ on how to format headings in APA.

    Spell phrase out the first

    time in document with

    acronym in parentheses.

    From that point forward,

    the acronym can be used.

     

    If you using a source (Whittington) that is citing

    another author (Chandler), use the author’s last

    name found in your source (Chandler) at the

    beginning of your sentence followed by the

    citation – (as cited in Your Source, year). Only

    the source you are reading (Whittington) will be

    listed in your references. See

    https://owl.english.purdue.edu/owl/resource/5

    60/09/ for more information.

     

    All subsequent pages should only have

    the first 50 characters of the paper’s

    title in all caps for the running head.

     

     

     

    IDENTIFYING THE BEST PRACTICES IN STRATEGIC 3

    Strategic Management Model

    Research indicates as the concept of strategic management evolved, many theoretical

    models were proposed. Ginter, Ruck, and Duncan (1985) indentify eight elements of the

    normative strategic model: vision and mission; objective setting; external environmental

    scanning; internal environmental scanning; strategic alternatives; strategy selection;

    implementation; and control. Long (as cited in Ginter et al., 1985) stated that normative strategic

    management models are an “explicit, planned and rational approach” (p. 581) to management.

    Similar to Ginter et al., Wheelen and Hunger (2008) established the SMM (see Figure 1) which

    includes four main elements: environmental scanning, strategy formulation, strategy

    implementation, and evaluation and control. Environmental scanning is the monitoring,

    evaluating, and extracting of information from the external and internal environments in order

    for management to establish plans and make decisions. Strategy formulation includes creating

    long-term plans for the organization, including the mission, objectives, strategies and policies.

    Strategy implementation is the process of executing policies and strategies in order to achieve the

    mission and objectives. Evaluation and control require monitoring the performance of the

    organization and adjusting the process as necessary in order to achieve desired results (Wheelen

    & Hunger, 2008).

    The SMM assumes the organizational learning theory, which states that an organization

    adapts to the changing environment and uses gathered knowledge to improve the fit between

    itself and the environment. The SMM also assumes the organization be a learning organization

    in which the gathered knowledge can be used to change behavior and reflect new knowledge

    (Wheelen & Hunger, 2008).

     

    When citing

    3-5 authors,

    list all the

    authors the

    first time and

    then use et

    al. for the

    following in-

    text citations.

    A level 2 header

    should be bold,

    left-justified and all

    major words

    capitalized.

    When citing 3-5 authors, list all the

    authors the first time and then use et al.

    for the following in-text citations. If you

    have 6 or more authors, use et al. for all

    in-text citations.

    When quoting, you must

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    the paragraph number of

    where you found the quote

    and cite the source and/or

    page number immediately

    after the quotation marks

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    a sentence.

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    year must follow the author’s last name in parentheses. The authors are

    being used as a part of a sentence, therefore the word “and” is used and

    not the symbol “&.”

     

     

    IDENTIFYING THE BEST PRACTICES IN STRATEGIC 4

     

    Environmental

    Scanning

    Strategy

    Formulation

     

    Strategy Implementation

    Evaluation

    and

    Control

    External: Mission

    Opportunities Objectives

    Threats Strategies

    Societal

    Environmental Policies

    Task Environmental Programs

    Budgets

    Internal: Procedu

    res

    Strengths Performanc

    e

    Weaknesses

    Structure

    Culture

    Resources

    Figure 1. The strategic management model was adapted from Strategic management and

    business policy (11th ed.) by T. L. Wheelen, & J. D. Hunger, 2008, Upper Saddle River, NJ:

    Pearson Prentice Hall.

     

    Corporate sustainability. In addition to enhancing financial performance through

    strategic management, organizational leaders have the responsibility of increasing shareholder

    value through corporate sustainability (Epstein, 2008). Corporate sustainability is defined in a

    variety of ways. Hollingworth (2009) described a sustainable organization as “one that strives

    for and achieves 360-organizational sustainability” (p. 1). The author claimed an organization is

    sustainable when it can endure, or maintain, over a long-term without permanently damaging or

    depleting resources including: the organization itself; its human resources (internal and external);

    the community/society/ethno-sphere; and the planet’s environment. He then claimed that if one

    of the four resources is not sustainable, issues with the remaining resources will eventually

    develop (Hollingworth, 2009). Brundtland (as cited in Epstein, 2008) described sustainability as

    the economic development that addresses the needs of the present generation without depleting

    1

    2

    3

    When you are using the same source for a

    paragraph, you need to start the paragraph with

    a 1- narrative citation, 2- refer to the author

    again so your reader knows you are still talking

    about the same author, and 3-end the paragraph

    with a parenthetical citation.

    When you are using the same source for

    a paragraph, you need to start the

    paragraph with a 1- narrative citation, 2-

    refer to the author again so your reader

    knows you are still talking about the

    same author, and 3-end the paragraph

    with a parenthetical citation.

    When you are using the same source for a

    paragraph, you need to start the paragraph with

    a 1-narrative citation, 2-refer to the author again

    so your reader knows you are still talking about

    the same author (try not to use pronouns such

    as “he” or “she” as APA believes this could lead

    to a gender bias) and 3-end the paragraph with

    a parenthetical citation.

    When using a Figure in your paper,

    make sure there is no title above

    the figure. Underneath the figure

    you must have the word, “Figure”

    italicized and the figure number in

    your paper followed by a period.

    Then mention where the

    information was adapted or general

    information about the figure.

    Follow the example above. Notice

    it does not follow the reference

    citation format.

    A level 3 header is

    bold, first word

    captialized, a

    period following

    header and

    sentence starts

    after header.

     

     

    IDENTIFYING THE BEST PRACTICES IN STRATEGIC 5

    resources needed by future generations Epstein (2008) adds to the definition from a business

    perspective by including corporate social responsibility. Epstein also states that organizations

    have a responsibility to stakeholders to improve management practices in order to add value by

    addressing corporate social, environmental and economic impacts (Epstein, 2008).

    Organizational leaders are the strategic decision makers of a company and have a

    responsibility to stakeholders (Wheelen & Hunger 2008). Therefore, it is important to have an

    understanding of why corporate sustainability is important, and how the nine principles of

    sustainability performance guide strategic management.

    Importance of Corporate Sustainability

    In addition to making a profit, organization’s have a responsibility to society, which

    includes addressing its economic, social, and environmental impacts, otherwise known as social

    responsibility. Friedman and Carroll had two opposing views of corporate social responsibility.

    Friedman argued that the sole responsibility of business was to use resources and activities that

    enhanced profits (Wheelen & Hunger, 2008). Carroll (1979) argued that social responsibility

    included much more that making a profit; he proposed businesses must include the economic,

    legal, ethical and discretionary categories of business performance.

     Economic responsibilities include producing goods and services to meet the

    needs/wants of society in order to make a profit;

     Legal responsibilities are the laws and regulations the company is expected to

    abide by;

     Ethical responsibilities are included in the previous two statements, but also

    include the norms and beliefs held by society;

    This is another example of narrative

    citation. The year must follow the author’s

    last name. If there was a quotation, the

    page or paragraph number would be listed

    immediately after the quote in

    parentheses – Examples (p. 89) or (para.

    3). See page 3 for an example.

    This is an example of a parenthetical citation. It

    includes the authors’ last names and the year.

    If there was a quotation, a page or paragraph

    number would also be included. Notice that the

    period is at the end of the parentheses.

     

     

    IDENTIFYING THE BEST PRACTICES IN STRATEGIC 6

     Discretionary responsibilities are other responsibilities taken on by the

    organization including voluntary activities and philanthropic contributions

    (Carroll, 1979).

    The importance of corporate sustainability, therefore, is that an organization is responsible for

    financial performance, but it also has additional responsibilities to stakeholders and society in

    general.

    The Nine Principles of Sustainability Performance

    The nine principles, as presented by Epstein and Roy (2003) (see Table 1), further define

    sustainability, are measureable, and can easily be incorporated into strategic management

    (Epstein, 2008). These principles include ethics, governance, transparency, business

    relationships, financial return, community involvement, value of products and services,

    employment practices and protection of the environment.

     

     

     

     

     

     

     

     

     

     

     

    A table or figure should fit all on one page

    even if there is a gap left in your paper. It

    is easier for the reader to view the table or

    figure when presented as a whole instead

    of split on two pages.

     

     

    IDENTIFYING THE BEST PRACTICES IN STRATEGIC 7

    Table 1

    The Nine Principles of Sustainability Performance

    1. Ethics The company establishes, promotes, monitors and maintains ethical standards and practices in dealing with all of the company

    stakeholders.

    2. Governance The company manages all of its resources conscientiously and effectively, recognizing the fiduciary duty of corporate boards

    and managers to focus on the interests of all company

    stakeholders.

    3. Transparency The company provides timely disclosure of information about its products, services and activities, thus permitting stakeholders to

    make informed decisions.

    4. Business relationships

    The company engages in fair-trading practices with suppliers,

    distributors and partners.

    5. Financial return The company compensates providers of capital with a competitive return on investment and the protection of company assets.

    6. Community involvement/econom

    ic development

    The company fosters a mutually beneficial relationship between

    the corporation and community in which it is sensitive to the

    culture, context and needs of the community.

    7. Value of products and services

    The company respects the needs, desires and rights of its

    customers and strives to provide the highest levels of product and

    service values.

    8. Employment practices

    The company engages in human-resource management practices

    that promote personal and professional employee development,

    diversity and empowerment.

    9. Protection of the environment

    The company strives to protect and restore the environment and

    promote sustainable development with products, processes,

    services and other activities.

    Note. There should be a general note about the table here. Adapted from “Improving

    sustainability performance: Specifying, implementing and measuring key principles” by M.

    Epstein, & M. Roy, 2003, Journal of General Management, 29(1), pp.15-31.

    Walgreens Company

    Walgreens Company is a retail drugstore that is in the primary business of prescription

    and non-prescription drugs, and general merchandise including beauty care, personal care,

    household items, photofinishing, greeting cards, and seasonal items (Reuters, 2010). More

    recently, the organization diversified its offerings through worksite healthcare facilities, home

    care facilities, specialty pharmacies, and mail service pharmacies (Walgreens Company, 2010).

    When using a Table in your paper, make

    sure the word “Table” with the table

    number in your paper. Then insert the

    title of the Table in italics, with all major

    words capitalized. Underneath the Table

    you must have the word, “Note” italicized

    followed by a period. Then mention

    where the information was adapted or

    general information about the figure.

    Follow the example above. Notice it does

    not follow the reference citation format.

     

     

    IDENTIFYING THE BEST PRACTICES IN STRATEGIC 8

    Walgreen Company established a strong organizational culture focusing on consumer and

    employee satisfaction. The mission of Walgreens is:

    We will provide the most convenient access to consumer goods and services . . .

    and pharmacy, health and wellness services . . . in America. We will earn the

    trust of our customers and build shareholder value. We will treat each other with

    respect and dignity and do the same for all we serve. We will offer employees of

    all backgrounds a place to build a career. (Walgreens, 2010a, para. 1)

    Walgreens was established in 1901 by pharmacist Charles R. Walgreen Sr. (Walgreens,

    2010b). Prior to establishing the company, Mr. Walgreen struggled with the direction the

    pharmacy industry was headed; the lack of quality customer service and care for people

    concerned him. Today, Walgreens is the largest drugstore chain in the United States employing

    over 238,000 people. Sales in 2009 exceeded $63 billion, in which 65% of sales were from

    prescriptions drugs. The organization has expanded into all 50 states, as well as the District of

    Colombia and Puerto Rico, for a total of 7,496 stores and 350 Take Care clinics (Walgreens

    Company, 2010, para. 3).

    Conclusion

    Strategic management and corporate sustainability are two important practices in today’s

    competitive global environment. In order to effectively implement strategic management in light

    of corporate sustainability, leaders must have an understanding of such concepts. This paper has

    provided a background and understanding of strategic management and corporate sustainability.

    An overview and history of Walgreen Company was also presented in order to identify best

    practices in strategic management that enhance corporate sustainability.

    If a quotation is longer than 40 words, it

    must be in a block format. The block

    format is indented ½ inch (or 5 spaces

    from the left) from the left margin. Do not

    use quotation marks for this quote.

    If you are using information from multiple web

    pages from one website, you need to

    distinguish which citation came from which

    web page. You can distinguish each page, by

    putting the letters, “a,” “b”, etc. with the year.

    So, for in-text citations it would be (Walgreens,

    2010a). (Walgreens, 2010b).

    The conclusion is a

    level 1 header.

     

     

    IDENTIFYING THE BEST PRACTICES IN STRATEGIC 9

    References

    Carroll, A. B. (1979). A three-dimensional conceptual model of corporate performance. The

    Academy of Management Review, 4(4), 497.

    Collins, J. (2001). Good to great. New York, NY: HarperCollins Publishers Inc.

    Epstein, M. J. (2008). Making sustainability work. San Francisco, CA: Greenleaf

    Publishing Limited.

    Epstein, M., & Roy, M. (2003). Improving sustainability performance: Specifying, implementing

    and measuring key principles. Journal of General Management, 29(1), 15-31.

    French, S. (2009). Critiquing the language of strategic management. The Journal of Management

    Development, 28(1), 6-17. doi: 10.1108/02621710910923836

    Ginter, P., Ruck, A., & Duncan, W. (1985). Planners’ perceptions of the strategic management

    process. Journal of Management Studies, 22(6), 581-596.

    Hollingworth, M. (2009, November/December). Building 360 organizational sustainability. Ivey

    Business Journal, 73(6), 2.

    Walgreens. (2010a). Mission statement. Retrieved from

    http://news.walgreens.com/article_display.cfm?article_id=1042

    Walgreens. (2010b). Our past. Retrieved from

    http://www.walgreens.com/marketing/about/history/default.html

    Reuters. (2010). Walgreen Co. Retrieved from

    http://www.reuters.com/finance/stocks/companyProfile?symbol=WAG.N

    Robbins, S. P., & Coulter, M. (2007). Management (9th ed.). Upper Saddle River, NJ: Pearson

    Prentice Hall.

    The word, References

    should be capitalized,

    centered, but not bold.

    When a

    citation runs

    over to the

    second line,

    indent 5

    spaces to

    the right.

    This is a

    “hanging

    indent.”

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    alphabetical

    order.

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    information from

    multiple web pages

    from one website, you

    need to be able to

    distinguish what

    information came from

    each web page. To do

    this, you need to add

    the letters, “a,” “b,” etc.

    to the year of each

    citation.

    Include a doi number if available.

    After a URL or doi,

    not insert a period.

    Make sure that the links

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    them to go to the

    website). If they are live,

    in Word, right click and

    then click on “Remove

    Hyperlink.”

    For editions of

    books, do not

    use the

    superscript.

     

     

    IDENTIFYING THE BEST PRACTICES IN STRATEGIC 10

    Walgreens Company. (2010). 2009 Annual report. Retrieved from

    http://investor.walgreens.com/annual.cfm

    Wheelen, T. L., & Hunger, J. D. (2008). Strategic management and business policy (11th ed.).

    Upper Saddle River, NJ: Pearson Prentice Hall.

    Whittington, R. (2008). Alfred Chandler, founder of strategy: Lost tradition and renewed

    inspiration. Business History Review, 82(2), 267-277.

     

     

     

    Example of a book citation.

    S

    Example of a journal article citation.

    Example of a website citation. If

    you are citing a report or any

    type of pdf, italicize the title. If

    you are getting information from

    the actual website, then you

    would not italicize the title.

    For more information on APA requirements and examples of in-text and reference citations, see the Saudi Electronic University Academic Writing Standards and APA Style Guidelines.

     

     

    You can find other links on this page such as a

    template paper that is already formatted in APA

    for you, and some good websites that provide

    even more examples of citations.

 
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