Understanding Effective Learning Strategies

Organizational Analysis and Competitive Advantage

• Environmental scanning involves gathering information about the external natural environment (resources and climate), societal environment (general forces), and task environment (industry analysis).
• Internal analysis examines organizational structure (chain of command), culture (beliefs, values, expectations), resources (assets, skills, knowledge, competencies).
• A mission statement defines a company's purpose/reason for existence.
• Objectives are the desired results to achieve by specific deadlines.
• Strategies are the plans to achieve the mission and objectives.
• Policies are broad guidelines for decision-making.
• Programs and tactics are the activities required to perform the plan.
• Budgets specify the cost of programs.
• Procedures dictate the steps to perform the job.
• Performance refers to the actual results achieved.

Understanding Capabilities—Bombardier and the C-Series Aircraft

• Bombardier started as a snowmobile company in 1942 and diversified into transportation and aerospace industries.
• In 1986 the company acquired Canadair, and entered aerospace.
• In 1989 the company released the CRJ regional jet.
• In 1995, introduced fractional aircraft ownership via Flexjet.
• Bombardier planned to compete with Boeing and Airbus—but underestimated the industry's required capabilities.
• The C-Series aircraft faced delays and missteps as the company attempted to enter the wide-body jet market.

A Resource-Based Approach to Organizational Analysis-VRIO

• External environmental scanning is necessary for strategic analysis, but internal factors are crucial for corporate survival.
• Organizational analysis focuses on identifying, developing, and leveraging internal resources and competencies.
• Resources are a company's assets (tangible-plant, equipment, finances, location; intangible-technology, culture, reputation; human-employees, skills).
• Capabilities are a firm's ability to exploit assets in business processes.
• Core competencies are widespread, divisional capabilities.
• Distinctive competencies are superior to competitors' resources, skills, capabilities—leading to competitive advantage.
• To be a true competitive advantage, a resource or capability must be valuable, rare, inimitable, and organized.

Basic Organizational Structures

• Different organizational structures support different corporate strategies.
• A simple structure is common for small, entrepreneurial companies with few or single product lines.
• A functional structure is appropriate for medium-sized firms with multiple product lines in one industry.
• A divisional structure is suited for a large corporation with many product lines across several industries.
• Strategic business units (SBUs) are a hybrid of the divisional structure, containing independent segments that are responsible for managing aspects of their functional areas.
• Conglomerate structures are appropriate for large companies with numerous product lines across diverse industries.

Corporate Culture

• Corporate culture is a set of beliefs, expectations, and values learned and shared by employees. It stems from the founder(s) and the company's mission.
• Cultural intensity is the degree members adhere to the norms/values.
• Global corporate culture adaptations are necessary for international success.
• Culture must align with strategy for it to be effective.

Strategic Marketing Issues

• Market positioning identifies target customers and competitors, and helps companies choose product / service features.
• Marketing mix elements are those under a company's control used to gain competitive advantage, namely Product, Place, Price, and Promotion (often with a 5th element—people).
• Product Life Cycle analysis provides a graph of a product's sales/time curve.
• Understanding the curve determines the appropriate market strategy.

Strategic Financial Issues

• A financial manager assesses funds' sources, uses, and control.
• Financial leverage (the ratio of total debt to total assets) can boost earnings per share.
• High leverage magnifies profits during prosperity but increases risk and loss during recession.
• Capital budgeting analyzes investment potential in fixed assets, such as land, buildings, and equipment.

Strategic Research and Development (R&D) Issues

• R&D intensity (R&D spending as a percentage of revenue) is a metric of market share.
• Technological competence involves both the development and use of technologies.
• Technology transfer is to take a new technology from the lab to the market place.
• Technological discontinuity is when one technology displaces another, often causing significant changes in industries.

Strategic Operations Issues

• Operations strategy focuses on the production and delivery of goods or services. Strategies include the use of intermittent or continuous manufacturing.
• Operating leverage is the effect of a specific change in sales on a firm's net operating income.
• Mass customization is where standardized goods are produced at low cost but with unique features according to the customer's needs.

Strategic Human Resource Management (HRM) Issues

• HRM aligns individuals with jobs, improves employee satisfaction, and allows firms to better implement strategies.
• Workforce diversity is a factor in a flexible workforce which is vital in the global marketplace.
• Increasingly virtual workforces require new ways of managing the workforce and coordinating tasks.
• Retrenchment and expansion strategies require detailed personnel actions.
• International work is often unique and challenging and firms must manage these cultural differences.

Quality of Work Life and Human Diversity

• Quality of work life emphasizes the human dimensions of work. Diversity of the workforce is increasingly critical to most global companies.
• Training and development are extremely important to achieve organizational goals in an ever-changing global economy.
• Recognition of cultural differences and diversity will help implement a strategy in any given global market.

The Implementation Issues

• Managing a business successfully depends on the process of strategy implementation.
• Strategic implementation addresses corporate structure and staffing.
• Successfully managing a portfolio of strategic initiatives can lead to improvement in organizational performance through improved coordination and synergy amongst different organizational elements.
• Aligning the organizational structure with a company's business strategy, policies, programs, budgets, etc., greatly expands the chances of success.
• Implementing a global strategy requires effective management of international operations.

International Coordination

• International coordination is required when a company operates in multiple countries, using international strategic alliances to achieve the goals of global strategy.
• A company can enter a foreign market in several ways.
• International coordination involves a wide array of activities from simply exporting, to licensing, franchising, joint ventures, and acquisitions.

Measurement of Performance

• Important output measures provide quantifiable evaluation of strategy.
• Returns on investment (ROI), budget analysis, and historical comparisons allow managers to determine performance.
• International performance evaluation requires unique considerations due to variable currencies and accounting methods.
• Differences in tax law and regulations affect the calculation of profits and revenues from international operations.

This quiz explores key characteristics and strategies of effective learning environments. It covers various concepts such as metacognition, motivation, and learning techniques to identify best practices for long-term retention of information. Test your knowledge on what makes learning effective and engaging!