For This Essay, You May Use The Same Company You Have Previo

For This Essay You May Use The Same Company You Have Previously Used

Consider a company that has done a strategy development, and is in the implementation phase, or has been through the implementation phase. In your essay, address the following questions:

• What are the stages of a corporation's life cycle? How can a corporation's life cycle be extended?
• What is strategy implementation? What questions must strategy makers consider to begin the implementation process?
• What are some of the approaches a company can take to identify and prepare its people for important positions?
• It is important to assess the strategy-culture compatibility when implementing a new strategy. Do you think that culture follows strategy, or does strategy follow culture? In your response, use the company to illustrate your points. Justify your answer.
• What is Six Sigma? Why would a company want to implement it?

Paper For Above instruction

The strategic management process is critical for the growth and sustainability of a corporation, particularly throughout its various stages of the corporate life cycle. Understanding these stages—introduction, growth, maturity, and decline—helps organizations formulate appropriate strategies. Extending a company's life cycle often involves innovation, diversification, and market expansion, which can revitalize operations and prevent premature decline (Ansoff, 1988). For instance, a company in the maturity phase may leverage product development or enter new markets to sustain growth and longevity.

Strategy implementation involves translating strategic plans into actionable tasks, ensuring organizational alignment, resource allocation, and effective communication throughout the enterprise (Hrebiniak, 2006). Before initiating implementation, strategists must address questions such as: Are organizational structures conducive to this strategy? Do employees have the necessary skills? What change management processes are needed? These considerations ensure that strategic goals are achievable and that staff buy-in is secured, facilitating smoother execution.

Preparing personnel for key roles is vital to strategic success. Approaches include leadership development programs, succession planning, mentorship initiatives, and comprehensive training. These methods identify high-potential employees early and equip them with the skills, knowledge, and experiences necessary to assume critical positions. For example, Toyota's dedication to continuous employee development has been instrumental in maintaining operational excellence and strategic agility (Liker, 2004).

The relationship between strategy and organizational culture is complex and often bidirectional. Some scholars argue that "strategy follows culture," suggesting that an organization’s cultural values influence strategic choices. Conversely, others believe that "culture follows strategy," with strategic initiatives shaping cultural norms over time. Considering Apple Inc., its innovative culture was both a product of its strategy to disrupt markets and a driver of further strategic innovations. Apple's culture of creativity and risk-taking aligned with its strategic goals, illustrating the dynamic interplay between strategy and culture (Schein, 2010).

Six Sigma is a data-driven methodology aimed at process improvement by reducing defects and variability. Its core objective is to enhance quality, operational efficiency, and customer satisfaction (Harry & Schroeder, 2000). Companies implement Six Sigma to achieve cost savings, improve product consistency, and gain competitive advantages in both manufacturing and service sectors. For example, General Electric’s adoption of Six Sigma under Jack Welch’s leadership resulted in billions of dollars in savings and improved process performance, demonstrating its strategic value (Pande et al., 2000).

In conclusion, understanding the lifecycle of a corporation informs strategic planning and sustainability efforts. Effective strategy implementation requires careful consideration of organizational structure, culture, and personnel development. The debate over the relationship between strategy and culture highlights the importance of aligning organizational values with strategic objectives. Additionally, methodologies like Six Sigma can significantly enhance operational performance, supporting a firm's long-term competitiveness.

References

• Ansoff, H. I. (1988). Corporate strategy. Wiley.
• Harry, M., & Schroeder, R. (2000). Six Sigma: The breakthrough management strategy revolutionizing the world's top corporations. Doubleday.
• Hrebiniak, L. G. (2006). Making strategy work: Leading advanced execution. Wharton School Publishing.
• Liker, J. K. (2004). The Toyota way: 14 management principles from the world’s greatest manufacturer. McGraw-Hill.
• Pande, P. S., Neuman, R. P., & Cavanagh, R. R. (2000). The Six Sigma way: How to maximize the impact of your change and improvement efforts. McGraw-Hill.
• Schein, E. H. (2010). Organizational culture and leadership. Jossey-Bass.