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Competitive advantage implies the creation of a system that has a unique advantage over competitors. With the advent of globalization, the competition has become stronger and can be located anywhere in the world. The idea behind competitive advantage is to create customer value in an efficient and sustainable way. One approach to address this issue would be the use of resource-based theories of competitive advantage.
Resources are not simply raw materials but include all the inputs, such as intellectual capital, necessary to produce a good or service. Consider this as you address globalization strategies for Fortune 500 firms in this assignment. Be mindful of constraints, such as transportation costs and cultural barriers, as you complete this assignment.
Review the article “Resource-Based Theories of Competitive Advantage: A Ten-Year Retrospective on the Resource-Based View” by J. B. Barney from the readings for this module.
Based on your analysis of this article and other readings for this module, respond to the following:
- Explain how resource-based competitive advantage drives globalization strategies for Fortune 500 firms.
- Why are application of project management principles critical to effective business operations?
Barney, J. B. (2001). Resource-based theories of competitive advantage: A ten-year retrospective on the resource-based view. Journal of Management, 27(6), 643–650. Retrieved fromhttp://www.thecampuscommon.com/library/ezproxy/ticketdemocs.asp?sch=auo&turl=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=5777193&site=ehost-live
By Saturday, August 29, 2015, post your response to the appropriate Discussion Area. Through Wednesday, September 2, 2015, review and comment on at least two peers’ responses.
Write your initial response in 300–500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation
Do the following when responding to your peers:
- Read your peers’ answers.
- Provide substantive comments by
- contributing new, relevant information from course readings, Web sites, or other sources;
- building on the remarks or questions of others; or
- sharing practical examples of key concepts from your professional or personal experiences
- Respond to feedback on your posting and provide feedback to other students on their ideas.
- Make sure your writing
- is clear, concise, and organized;
- demonstrates ethical scholarship in accurate representation and attribution of sources; and
- displays accurate spelling, grammar, and punctuation.
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Assignment Components
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response was:
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16
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Discussion
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Sustained profits come from building a competitive advantage. This advantage can be accomplished not only through good financial return on a specific process but also through the correct capacity decisions that must be integrated into the organization’s mission and strategy. Jack Welch, former CEO of General Electric (GE), understood this better than anyone else. Although GE was a profitable and respected company when Welch took over, its financial results during the1970s were troubling to both its investors and senior management. Welch immediately made changes to the company’s structure and management practices. From the beginning, he stressed the importance of being one of the top players in the industry. He told his colleagues that GE should always be number one or number two in all its businesses; if it was not, then their only options would be to fix, sell, or shut down. Because of this strategic direction, GE today usually dominates the markets in which it participates; and if it does not, then it divests. A major part of GE’s strategy is to be the first or second in every market. As you review the module readings for this week, consider the complexity of GE’s products and its emphasis on vertical integration and capacity planning. GE’s Profile The General Electric Company, or GE, is a diversified company that offers infostructure, media and finance products and services. The company was originally founded by electrical innovator Thomas Edison. It is also listed as one of the most admired companies, ranking as number one in electronics and 16th overall according to Fortune Magazine. For the company's innovation focus, it was ranked as one of the world's most innovative companies byBusiness Week. GE’s Reach The General Electric Company is organized into 5 divisions including “’NBC Universal", "Technology Infrastructure", "Consumer & Industrial", "Energy Infrastructure" and "Capital Finance". The company functions in over 100 countries and has over 300,000 employees. For 2009, the company achieved $11.2 billion in earnings and an industrial cash flow of $16.6 billion. Effective January 1, 2011, it reorganized the Technology Infrastructure segment into three segments: Aviation, Healthcare and Transportation. Services Chemicals, Petrochemicals, and Fertilizers Food & Beverage Government & Public Administration Metals and Metals Fabrication Mining (Coal, Minerals, Metals) Oil & Gas Upstream Power Generation GE. (2013). The History of General Electric. Retrieved fromhttp://www.ge.com/about-us/history/1878-1904. GE. (2013). GE fact sheet. Retrieved from http://www.ge.com/pdf/news/GE-Fact-Sheet.pdf Using the information above, the module readings, Argosy University online library resources, and the Internet, respond to the following:
Write your initial response in 300–500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation Do the following when responding to your peers:
A successful supply chain strategy includes good design and implementation. However, supply chain strategy is not considered truly successful until there is a measurable contribution to the bottom line. To be successful, managers must plan, forecast, and execute the operational plan as well as face and overcome the organizational, partner-based, and personnel-based factors that can diminish value. Effective supply chain management continues to grow in importance as a competitive differentiator for most companies. However, most companies fail to realize a competitive advantage or value for the customer. Using the module readings, Argosy University online library resources, and the Internet, research supply chain management. As you examine the readings in this module, consider how change affects all stakeholders in the supply chain and apply those reflections to the following questions:
Write your initial response in 300–500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation Do the following when responding to your peers:
Based on the above information and on your reflection of the readings for the course, respond to the following:
Write your initial response in 300–500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation Do the following when responding to your peers:
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mod 1
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Delivering
on a value proposition demands constant improvement and innovation as
competition changes over time along with evolving customers’ needs and wants.
How an organization delivers is not only dependent on its ability to serve
the market but also on how well it adapts and overcomes the challenges of its
own structure, culture, incentives, and design. However, an organization may
face many barriers that hinder its ability to overcome these challenges. Using the module readings, Argosy University online library resources, and the Internet, research operational barriers. Based on your research, address the following:
By Wednesday, September 2, 2015, deliver your assignment to the M1: Assignment 3 Dropbox. Gopalakrishnan, S., Kessler, E. H., & Scillitoe, J. L. (2010). Navigating the innovation landscape: Past research, present practice, and future trends.Organization Management Journal, 7(4), 262–277. doi:10.1057/omj.2010.36 (ProQuest Document ID: 820961459)
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As the rate of innovation increases, companies face expanding product/service lines, shorter product and service lifecycles, and more frequent product/service transitions. All of these can bring tremendous value but also pose enormous challenges and risks.
The article “The Art of Managing New Product Transitions”by Erhun, Gonclave, and Hopman (2007) from the readings for this module includes a matrix titled “Product Drivers and Risk Factors,” which focuses on Intel, a company that manufactures high-tech products (p. 76). Based on your readings and research, address the following issues:
- Redesign the product risk factor matrix so that the factors are appropriate for a services firm that delivers traditional tax accounting and audit services. For example, among the supply risks, assume that the company relies on individuals with specific knowledge of the tax law in the jurisdictions where its clients operate, be it state, federal, or foreign.
- Now, assume that the firm wants to develop a management consultancy practice. (Alternatively, you may choose to add a legal services line instead.). Create a separate new matrix that summarizes the additional risk factors for this firm launching a management consultancy or legal services line. What additional risk factors are you adding to your matrix?
- Explain how the business risks differ between traditional tax and audit services and management consulting services. In your opinion, what are the three biggest risks the firm faces if it diversifies into the new service line?
- Recommend whether the firm should organically grow into a consultancy service or acquire a third party to achieve new goals. Justify your recommendations.
Be sure to include the following in your presentation:
- A title slide
- An agenda slide
- A reference slide
- Headings for each section
- Speaker notes to support the content in each slide
Erhun, F., Gonçalves, P., & Hopman, J. (2007). The art of managing new product transitions. MIT Sloan Management Review, 48(3), 73. (ProQuest Document ID:224964759) http://search.proquest.com.libproxy.edmc.edu/docview/224964759?accountid=34899
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Assignment 2 Grading
Criteria
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Maximum Points
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Redesigned
the product risk factor matrix for a services firm that has traditionally
provided tax and audit services and now wants to develop into a management
consultancy. |
20
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Created a
new matrix that summarizes the additional risk factors for this firm
launching a management consultancy or legal services line. Identified
additional risk factors to add to the matrix. |
20
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Explained
how the business risks differ between these two types of services. Listed and
ranked the three biggest risks if the firm diversifies into the new service
line. |
36
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Recommended
with appropriate justification on whether the firm should organically grow
itself into a consultancy or acquire a third party to achieve its goals |
12
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Wrote
using ethical scholarship, visual aesthetics, proper grammar, and mechanics. |
12
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Total:
Assignment
2: LASA 1—IKEA Analysis ReportWhat is values-based service? How can a company create value for customers and other stakeholders? Values-based service is defined as service that is firmly based on the core company values as well as social and environmental responsibility. When the core company values and the social and environmental values are in accordance with the values of customers and other stakeholders, resonance (rather than dissonance) occurs. To be successful, a values-based service business must seek resonance with its customers and other stakeholders in terms of values and avoid any suggestion of dissonance. Companies, such as IKEA, nurture and communicate values in their customer relationships. Read the article “Values-Based Service Brands: Narratives from IKEA” by Edvardsson from the readings for this module. Using IKEA as the company in point, conduct research, using the Argosy University online library and the Internet, to better understand the “IKEA environment.” Based on your research, write a report addressing the following points:
Then, develop a short 6–8-slide Power Point presentation (not including the title and reference slides) covering the same information. Include headings for each slide, and provide your talking points in the notes section to explain the content if the presentation is given verbally. Use the following file naming convention: LastnameFirstInitial_M3_A2.ppt. By Wednesday, September 16, 2015, deliver your assignment to the M3: Assignment 2 Dropbox. This assignment is worth 200 points and will be graded using a rubric. Download Assignment 2: Supply Chain Management Supply chain management is the integration of activities that procure materials and services, transform them into intermediate goods and final products, and deliver them to customers. The production, distribution, and sale of both goods and services are bound by constraints in demand, supply, capacity, capability, and a myriad of other parameters. In this assignment, consider the strategic implications of how an organization produces and interacts with its partners, customers, and suppliers. Using the module readings, Argosy University online library resources, and the Internet, research supply chain management processes. Based on your research, complete the following:
By Wednesday, September 23, 2015, deliver your assignment to the M4: Assignment 2 Dropbox.
Review the following scenario:
You may choose one area of the company, such as a manufacturing plant or product design, to focus on if you can make a strong case. Your recommendations should have the following features.
Your paper must include the following sections:
1. Strategic Overview: (1 page)
Provide a brief description of the following elements:
1. The company,
including its products or services
2. Marketing
strategy: target market segments, value proposition, market position, and
source of competitive differentiation
3. Organizational
structure
4. Any other relevant
facts
2. Analysis of the Supply
Chain:
(4 pages)
Analyze the supply chain for your identified company by explaining the following key elements of the supply chain:
1. Identify key
inputs, including less tangible assets, such as human resources and
information. How are these key inputs sourced, reconfigured into a product or
service, and delivered to your customers?
2. Identify the key
processes that add value, and evaluate the supply chain performance relative
to the competition. What are the key inputs for each process? How are these
inputs processed or configured into the final offering for your customers?
3. What is the value
added at each step?
4. What is the role
of information technology and e-commerce in serving your customers?
5. What are the key
performance measures for evaluating your supply chain?
6. Research online
sources to explain how the performance on these measures compares to that of
your competitors?
3. Plan to Improve Operating
Processes:
(3 pages)
Create a plan for improving the performance of three specific operating processes in your company. Your plan should address the following:
1. Identify three
elements of the supply chain that you recommend as targets for improvement.
2. State the
performance improvement opportunity for each element, and indicate how it
will improve process speed, quality, efficiency, and productivity.
3. Explain what
specific action or change you recommend for each supply chain element
selected.
4. Explanation of the Results
of Performance Improvements Regarding Product or Service: (2 pages)
Explain the following:
1. How will your
product or service be improved as a result of these changes to the supply
chain activities?
2. How are you
altering the specific features or attributes of your product or service?
3. Why are these
specific changes important to your customers?
4. How do these
changes enhance the value proposition and competitive position of your
company?
5. What lasting
capabilities and improvement are you introducing into your company through
these changes?
6. How will you
measure the scope and impact of your improvements? What are your key
performance indicators?
5. Assessment of the Impact on
Human Resources:
(1–2 pages)
Detail how your plan impacts your company’s HR and human capital strategy by explaining how the organization’s structure supports the new process configuration you are recommending. Your response should address the following questions:
1. Are the roles and
responsibilities in your organization properly defined and aligned to enable
these changes? Who will perform these new/modified process activities, and
what changes to their jobs do you anticipate?
2. Is decision-making
authority assigned so that the process changes you propose can be implemented
and properly managed under the current structure? Who will own the process
and the results? Based on the current structure, will they have the authority
to make changes as necessary?
3. Are the
individuals with the right skills in place to implement these changes? If
not, how will you attract the talent necessary to implement your changes? How
will you retrain the existing employee base? How will you handle attrition?
How will you reduce the risk of impacted protected classes?
6. Changes:
Write an
10–12-page paper in Word format. You may rearrange the above sections if it
improves the quality of your paper. Apply APA standards to citation of
sources. Use the following file naming convention:
LastnameFirstInitial_M5_A1.doc.Explain changes to the compensation and incentives at your company that are necessary to reinforce your recommendations and increase efforts for continuous improvement throughout the organization. Explain how your plan motivates employees, customers, and suppliers better. By Monday, September 28, 2015, deliver your assignment to the M5: Assignment 1 Dropbox. This assignment is worth 300 points and will be gra |
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