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Management & leadership in business summary Workshop 1: Chapter 3 - Important Managerial Issues LEARNING OBJECTIVES: Explain the concept of globaliza on and its impact on organiza ons Describe different types of global organiza ons Discuss s...

Management & leadership in business summary Workshop 1: Chapter 3 - Important Managerial Issues LEARNING OBJECTIVES: Explain the concept of globaliza on and its impact on organiza ons Describe different types of global organiza ons Discuss social responsibility and how it influences managers Explore ethical behavior in leadership and its importance in global business 1. Explain the concept of globaliza on and its impact on organiza ons Defini on of Globaliza on: Globaliza on is the process of integra ng and interac ng across global boundaries in terms of trade, finance, and cultural exchange. It allows organiza ons to enter new markets, u lize global talent, and access financial resources from various parts of the world. Impact on Organiza ons: o Marketplace Globaliza on: Companies exchange goods and services globally. o Talent Globaliza on: High-tech and other industries increasingly rely on talent from other countries. This is influenced by immigra on laws and workforce availability. o Financial Globaliza on: Organiza ons use interna onal financial sources to fuel opera ons and investments. o Challenges: Managers face issues such as regulatory compliance, cross-cultural management, and global compe on. 2. Describe different types of global organiza ons Organiza ons adopt different forms to operate globally: Mul na onal Corpora on (MNC): Maintains opera ons in mul ple countries. Examples: o Mul domes c Corpora on: Decentralizes decision-making to adapt to local condi ons. o Global Corpora on: Centralizes management and decision-making in the home country.  o Transna onal Corpora on: Operates without a strong na onal iden ty, focusing on elimina ng geographic boundaries. Joint Ventures: Partnerships formed to achieve specific goals in global markets. Foreign Subsidiaries: Direct investments involving independent facili es in foreign na ons. 3. Discuss social responsibility and how it influences managers Defini on: Social responsibility refers to the organiza on’s obliga on beyond economic and legal requirements to act in a way that benefits society. Types of Social Responsibility: o Social Obliga on: Mee ng legal and economic requirements. o Social Responsiveness: Addressing emerging social needs, such as environmental sustainability and community welfare. o Corporate Social Responsibility (CSR): Combines ethical impera ves with societal benefit. Managerial Influence: o Managers integrate social responsibility into decision-making processes to enhance reputa on and sustainability. o Social involvement improves employee morale and atracts customers aligned with ethical prac ces. 4. Explore ethical behavior in leadership and its importance in global business Ethical Leadership: o Leaders shape an ethical culture by modeling behavior, se ng clear standards, and reinforcing ethical prac ces. o They ensure decisions respect stakeholder rights and promote jus ce and fairness. Importance in Global Business: o Establishes trust across cultural boundaries. o Mi gates risks related to corrup on and unethical prac ces. o Enhances organiza onal reputa on and sustainability efforts. Implementa on: o Leaders may establish ethical codes, conduct ethics training, and encourage open discussions about ethics. Workshop 2: Chapter 1 and 12 – Managing today, Understanding leadership LEARNING OBJECTIVES: Explain what managers do and where they work Define Management Describe the factors that are redefining management e.g. technology and social media Define leader and leadership Discuss four contemporary views of leadership Analyze a real case study on leadership. 1. Explain what managers do and where they work What Managers Do: Managers perform four core func ons: 1. Planning: Se ng objec ves and determining ac ons to achieve them. 2. Organizing: Alloca ng resources, assigning tasks, and structuring ac vi es. 3. Leading: Mo va ng, direc ng, and influencing employees to achieve organiza onal goals. 4. Controlling: Monitoring performance and making adjustments as needed. Where Managers Work: Managers operate in various organiza onal contexts, including: o Private corpora ons o Public agencies o Non-profits o Educa onal ins tu ons All organiza ons share three core characteris cs: 5. Purpose: Defined goals or objec ves. 6. People: Groups working collabora vely to achieve goals. 7. Structure: Framework guiding behavior and opera ons. 2. Define Management Defini on: Management is the process of coordina ng and overseeing the ac vi es of others to achieve organiza onal goals efficiently (minimizing waste) and effec vely (ensuring goal achievement). 3. Describe the factors that are redefining management Technological Advancements:  o Technologies like AI, automa on, and data analy cs are changing decision-making and opera onal workflows. o Remote work technologies allow for distributed teams, necessita ng new communica on strategies. Social Media: o Provides pla orms for marke ng, customer engagement, and employer branding. o Challenges managers to maintain transparency and quickly respond to public concerns. Globaliza on: o Increases cultural diversity in workplaces. o Expands market opportuni es but requires adaptability to different regulatory and cultural norms. Demographic Shi s: o Managers must cater to a mul genera onal workforce, balancing the expecta ons of younger and older employees. 4. Define Leader and Leadership Leader: A person who influences others and guides them toward achieving shared goals. Leadership: The process of influencing and inspiring a group to achieve goals. 5. Discuss four contemporary views of leadership 1. Leader-Member Exchange (LMX) Theory: o Focuses on the rela onship between leaders and followers. o In-group members receive more aten on and resources, while out-group members have limited access. 2. Transforma onal vs. Transac onal Leadership: o Transforma onal Leadership: Inspires followers by providing a compelling vision and fostering innova on. o Transac onal Leadership: Relies on structured tasks, rewards, and penal es to mo vate employees. 3. Charisma c and Visionary Leadership: o Charisma c Leaders: Use personal charm and emo onal appeal to influence followers. o Visionary Leaders: Focus on crea ng and communica ng a compelling long-term vision.  4. Team Leadership: o Emphasizes collabora on, empowerment, and guidance in achieving team goals. o Leaders act as facilitators, ensuring team cohesion and produc vity. 6. Analyze a real case study on leadership Case Study: L’Oréal and Jean-Paul Agon Leadership Style: Jean-Paul Agon, L’Oréal’s CEO, demonstrates a blend of transforma onal and ethical leadership quali es. Transforma onal Leadership: o Encourages innova on and adaptability in global markets. o Focuses on developing diverse and inclusive teams to drive crea vity and beter understand local customer needs. Ethical Leadership: o Champions sustainability and social responsibility, ensuring L’Oréal maintains its reputa on as one of the world’s most ethical companies. o Promotes fairness and transparency across the organiza on. Outcomes: L’Oréal became a leader in ethical business prac ces, earning recogni on from organiza ons like Ethisphere. Established a strong global presence by effec vely managing cultural diversity and tailoring products for regional markets. Built a workforce inspired by shared values of innova on and responsibility, enhancing both employee sa sfac on and organiza onal success. This case highlights how Agon’s leadership strategies sustain L’Oréal’s global growth and strengthen its posi on as an industry leader in both performance and ethics. 7.Difference Between Management and Leadership Management: Focuses on planning, organizing, and controlling resources to achieve short-term goals efficiently. Task-driven, ensures stability, and emphasizes processes and systems. Leadership: Inspires and influences people toward a vision or long-term goals. People-oriented, drives change, fosters trust, and emphasizes innova on. Key Differences:  Management ensures order and consistency, while leadership inspires growth and adaptability. Managers handle "how" to achieve goals; leaders focus on "why" and "where" the organiza on is headed. Example: A L’Oréal manager ensures produc on targets are met, while CEO Jean-Paul Agon inspires innova on and sustainability. Workshop 3: Chapter 4 – The management environment LEARNING OBJECTIVES: Explain what the external environment is, why it's important and how it affects managers Explain what organiza onal culture is, explain its importance and how it affects managers Define organiza onal culture and explain the importance of its characteris cs Describe how organiza onal culture affects managers Describe current issues in organiza onal culture 1. Explain what the external environment is, why it’s important, and how it affects managers Defini on: The external environment consists of factors, forces, and events outside the organiza on that influence its performance. It includes economic, technological, poli cal/legal, sociocultural, demographic, and global elements. Importance: o Determines opportuni es and threats. o Influences organiza onal strategies and resources. How It Affects Managers: o Requires constant monitoring to adapt to changes. o High uncertainty in the external environment can complicate decision-making. o Impacts jobs, technology use, and stakeholder rela onships. 2. Explain what organiza onal culture is, its importance, and how it affects managers Defini on: Organiza onal culture refers to the shared values, beliefs, principles, and tradi ons that define how members of an organiza on interact and behave. Importance:  o Shapes employee behavior and work ethic. o Influences organiza onal effec veness and decision-making. o Drives employee engagement and sa sfac on. How It Affects Managers: o Managers must align their leadership styles with the culture. o A strong culture simplifies communica on and decision-making, while a weak culture may lead to confusion and inefficiencies. 3. Define organiza onal culture and explain the importance of its characteris cs Defini on: Organiza onal culture is a system of shared meanings and values that guide how employees perceive, think, and act in their organiza on. Characteris cs: o Innova on and Risk-Taking: Encourages crea vity and experimenta on. o Aten on to Detail: Focuses on precision and analysis. o Outcome Orienta on: Priori zes results over processes. o People Orienta on: Values employee welfare. o Team Orienta on: Promotes collabora on over individual achievements. o Aggressiveness: Encourages compe veness rather than a coopera ve approach. o Stability: Focuses on maintaining the status quo. 4. Describe how organiza onal culture affects managers Shapes managerial decisions and communica on styles. A strong culture simplifies managerial roles by providing clear norms and expecta ons. A weak or nega ve culture may challenge managers to foster mo va on and alignment with organiza onal goals. 5. Describe current issues in organiza onal culture Crea ng a Customer-Responsive Culture: o Organiza ons strive to enhance customer focus by empowering employees and priori zing service excellence. Encouraging Innova on: o Developing a culture that supports crea vity and rapid adaptability is cri cal for compe ve advantage.  Building a Sustainability Culture: o Focuses on balancing environmental, social, and economic priori es. Fostering Diversity and Inclusion: o Organiza ons are increasingly emphasizing diverse perspec ves to drive innova on and collabora on. Workshop 4: Chapter 7 – Structuring and Designing Organizations LEARNING OBJECTIVES: Describe six key elements in organisa onal design Iden fy the con ngency factors that favour either the mechanis c model or the organic model of organisa onal design. Compare and contrast tradi onal and contemporary organisa onal designs Analyze the impact of design choices on organiza onal effec veness Discuss the design challenges faced by today's organisa ons Apply the characteris cs of a learning organisa on to a case 1. Describe six key elements in organiza onal design 1. Work Specializa on: o The division of tasks into smaller, specialized jobs to improve efficiency and exper se. o Example: On an assembly line, one worker assembles parts while another focuses on quality checks. o Benefit: Increases produc vity. o Drawback: May lead to monotony and reduced mo va on over me. 2. Departmentaliza on: o The grouping of jobs based on shared characteris cs:  Func onal: Grouped by tasks (e.g., marke ng, finance).  Product: Based on product lines (e.g., electronics, clothing).  Geographical: Divisions by loca on (e.g., North America, Europe). o Example: Amazon separates logis cs by geography to op mize delivery networks. 3. Authority and Responsibility: o Authority: The right to make decisions and expect compliance.  o Responsibility: Accountability for comple ng tasks. o Example: A marke ng manager has the authority to approve campaigns but is also responsible for their success. 4. Span of Control: o Refers to the number of employees a manager supervises. o Narrow span: Closer supervision but higher costs due to more managers. o Wide span: Encourages autonomy but may lead to oversight challenges. 5. Centraliza on and Decentraliza on: o Centraliza on: Decision-making authority is concentrated at top levels. o Decentraliza on: Decisions are delegated to lower levels for faster responses. o Example: Startups o en use decentraliza on to adapt quickly to market changes. 6. Formaliza on: o The extent to which rules and procedures govern work. o Example: Fast-food chains have highly formalized procedures to ensure consistency across loca ons. 2. Iden fy the con ngency factors favoring mechanis c or organic models Mechanis c Model: o Characteris cs: High specializa on, rigid hierarchy, strict rules, and centralized decision-making. o Favorable Condi ons:  Stable environments (e.g., manufacturing plants).  Rou ne and predictable tasks.  Large organiza ons where control is necessary. Organic Model: o Characteris cs: Flexibility, decentralized decision-making, open communica on, and adaptable roles. o Favorable Condi ons:  Dynamic environments (e.g., tech startups).  Innova ve industries requiring crea vity.  Smaller organiza ons where collabora on is key. Con ngency Factors:  Strategy: Innova ve strategies align with organic designs, while cost-leadership favors mechanis c. Size: Larger firms tend to adopt mechanis c designs for control. Technology: Rou ne tasks align with mechanis c models; nonrou ne tasks need organic structures. Environment: Dynamic environments demand organic models. 3. Compare and contrast tradi onal and contemporary organiza onal designs Tradi onal Designs: o Simple Structure:  Low departmentaliza on, centralized authority, few rules.  Example: Small businesses with a flat hierarchy. o Func onal Structure:  Grouping jobs by similar tasks (e.g., HR, sales).  Efficient but may create silos. o Divisional Structure:  Organized by products, regions, or customer groups.  Promotes focus but can duplicate resources. Contemporary Designs: o Team-Based Structures:  Teams replace tradi onal departments, fostering collabora on.  Example: Spo fy’s agile squads. o Matrix Structures:  Combines func onal and product-based structures, with dual repor ng lines.  Example: A product manager may report to both a func onal head and a project lead. o Boundaryless Organiza ons:  No fixed boundaries; includes virtual and networked teams. 4. Analyze the impact of design choices on organiza onal effec veness Posi ve Impact: o Well-aligned structures improve workflows, communica on, and resource u liza on.  o Example: Google’s flexible organiza onal design supports innova on. Nega ve Impact: o Poor alignment causes inefficiencies, duplica on of work, or resistance to change. o Example: Overly rigid structures in dynamic industries can hinder innova on. 5. Discuss the design challenges faced by today’s organiza ons 1. Virtual Workforces: o Managers must ensure engagement and produc vity among remote teams. 2. Global Opera ons: o Companies need to balance local responsiveness with global consistency. 3. Sustainability: o Incorpora ng environmentally friendly prac ces into organiza onal design. 4. Flexible Work Arrangements: o Adop ng hybrid and part- me work models to meet employee needs. 6. Apply the characteris cs of a learning organiza on to a case (NASA) Learning Organiza on Characteris cs: 1. Con nuous Learning: Encouraging innova on and knowledge-sharing. 2. Knowledge Sharing: Teams exchange insights across projects. 3. Collabora on: Promo ng teamwork to solve complex problems. 4. Adaptability: Reac ng to feedback and past experiences. Case: NASA: A er the Columbia space shutle disaster, NASA incorporated learning organiza on principles: o Enhanced knowledge-sharing systems to prevent future mishaps. o Fostered a culture of safety and collabora on. o Implemented feedback loops for con nuous improvement. Workshop 5: Chapter 2 – The manager as Decision Maker LEARNING OBJECTIVES: Describe the 8 steps in the decision-making process Decision making biases Explain the three approaches managers can use to make decisions Programmed and non-programmed decisions and decision-making condi ons managers face Discuss group decision-making Discuss contemporary issues in managerial decision-making You can apply those concepts & frameworks to interna onal business cases Conduct and evaluate a debate on decision making 1. Describe the 8 Steps in the Decision-Making Process The decision-making process consists of these steps: 1. Iden fy a Problem: Recognize the gap between the current situa on and a desired state. 2. Iden fy Decision Criteria: Determine the relevant factors for making the decision. 3. Weight the Criteria: Assign importance to each factor. 4. Develop Alterna ves: List possible courses of ac on. 5. Analyze Alterna ves: Assess each op on against the criteria. 6. Select an Alterna ve: Choose the best op on. 7. Implement the Alterna ve: Execute the chosen solu on. 8. Evaluate Decision Effec veness: Review the results to ensure the problem is resolved. 2. Decision-Making Biases Managers o en rely on heuris cs, which may lead to biases, such as: Overconfidence Bias: Overes ma ng knowledge or ability. Immediate Gra fica on Bias: Choosing op ons with immediate benefits. Anchoring Effect: Fixa ng on ini al informa on. Selec ve Percep on: Filtering informa on based on personal views. Confirma on Bias: Seeking data that supports preexis ng beliefs. Sunk Cost Fallacy: Con nuing a decision based on prior investments. 3. Explain the Three Approaches Managers Use to Make Decisions 1. Ra onal Model: o Logical and consistent decisions maximize value. o Assumes clear goals and complete informa on. 2. Bounded Ra onality: o Decisions are ra onal within the limits of available informa on, me, and resources. o Managers o en "sa sfice," selec ng the first sa sfactory solu on. 3. Intui on: o Based on experience, judgment, and ins nct. o Useful in complex, uncertain situa ons. 4. Programmed and Non-Programmed Decisions Programmed Decisions: o Rou ne, repe ve, and guided by established rules. o Example: A retailer restocking inventory when levels drop. Non-Programmed Decisions: o Unique, complex, and require tailored solu ons. o Example: Deciding on entering a new market. Decision-Making Condi ons: Certainty: Outcomes are known. Risk: Probabili es of outcomes are es mable. Uncertainty: Lacks informa on for predic ng outcomes. 5. Discuss Group Decision-Making Advantages: o Diverse perspec ves. o Higher acceptance of decisions. o More comprehensive problem analysis. Disadvantages: o Time-consuming.  o Risk of groupthink, where consensus is priori zed over quality. o Responsibility diffusion among members. 6. Discuss Contemporary Issues in Managerial Decision-Making Big Data: o Helps iden fy paterns and inform strategic decisions. o Requires careful handling to avoid privacy concerns and misuse. Ethical Decision-Making: o Managers must consider social responsibility and ethical implica ons. Decision-Making Technology: o Tools like AI improve speed and accuracy but may introduce biases if not properly designed. 7. Apply Concepts to Interna onal Business Cases Example: A global company like Amazon decides to enter a new market (e.g., India) using a mix of: o Ra onal Decision-Making: Conduc ng market research to assess poten al. o Intui on: Leveraging managerial exper se on customer behavior. 8. Conduct and Evaluate a Debate on Decision-Making When deba ng decision-making approaches: Evaluate the strengths and limita ons of ra onal, bounded ra onality, and intui ve models. Discuss real-world applicability, par cularly under risk and uncertainty. Include ethical considera ons and the role of technology in modern decision-making. Workshop 8: Chapter 5 – Managing Change and Innovation LEARNING OBJECTIVES: Define organiza onal change and compare views on change with regard to structure technology or people Iden fy poten al reasons for change (external and internal) Explain how managers can deal with resistance to change Metaphors on change (‘Calm waters’ vs. ‘White water rapids’) How to plan change with organiza onal development Iden fy what causes stress in employees Discuss techniques for s mula ng innova on and suppor ng change Describe the business environments that are suppor ve of change and innova on Explain Design Thinking Explain the innova on variables that managers need to safeguard in order to foster innova on 1. Define organiza onal change and compare views on change regarding structure, technology, or people Defini on: Organiza onal change involves altering an organiza on’s people, structure, or technology. Types of Change: o Structure: Adjustments to authority, coordina on mechanisms, or job design (e.g., decentralizing or crea ng new teams). o Technology: Changes in processes, methods, or equipment (e.g., adop ng automa on tools). o People: Transforming employee a tudes, behaviors, or expecta ons (e.g., fostering collabora on through training). 2. Iden fy poten al reasons for change (external and internal) External Forces: o Market compe on. o Technological advancements. o Regulatory changes.  o Social and economic pressures. Internal Forces: o Strategic shi s (e.g., reposi oning a brand). o Workforce changes or demands for flexibility. o Opera onal inefficiencies or cultural issues. 3. Explain how managers can deal with resistance to change Techniques: o Educa on and Communica on: Reduce misinforma on through clear explana ons. o Par cipa on: Involve employees in planning and decision-making to gain buy-in. o Facilita on and Support: Provide training or counseling to ease transi ons. o Nego a on: Offer incen ves to gain agreement. o Manipula on: Covertly influence views by presen ng favorable aspects of the change. o Coercion: Apply direct force or threats if necessary. 4. Metaphors on Change (‘Calm Waters’ vs. ‘White-Water Rapids’) Calm Waters: o Change is occasional and predictable, like a ship naviga ng calm seas. o Follows Lewin’s Three-Step Model: Unfreeze, Change, Refreeze. White-Water Rapids: o Change is constant and unpredictable, likened to naviga ng a raging river. o Managers must con nuously adapt, with no stable state. 5. How to plan change with organiza onal development (OD) Defini on: OD is a systema c effort to improve organiza onal effec veness through planned change, focusing on a tudes and behaviors. Techniques: o Survey Feedback: Assess employee percep ons and a tudes. o Team-Building: Improve interpersonal rela onships and clarify roles. o Intergroup Development: Enhance coordina on between departments or groups. 6. Iden fy what causes stress in employees Stressors: o Task Demands: Deadlines, workload, and job complexity. o Role Demands: Ambiguity or conflict in job expecta ons. o Interpersonal Demands: Conflicts with coworkers or supervisors. o Organiza onal Structure: Excessive bureaucracy or rigid policies. 7. Techniques for s mula ng innova on and suppor ng change Techniques: o Encourage crea vity through brainstorming or idea-sharing pla orms. o Provide resources like R&D funding. o Establish innova on-friendly cultures by rewarding risk-taking. 8. Describe business environments suppor ve of change and innova on Characteris cs: o Open communica on and collabora on. o Emphasis on learning and adaptability. o Strong leadership that supports experimenta on and tolerates failures. 9. Explain Design Thinking Defini on: A problem-solving approach focusing on understanding user needs, genera ng crea ve ideas, and rapid prototyping. Applica on: o O en used in product development to balance func onality and user experience. 10. Explain the innova on variables managers need to safeguard Key Variables: o Structural: Flexible organiza onal designs that facilitate collabora on. o Cultural: Suppor ve cultures that reward crea vity and tolerate mistakes. o Human Resources: Hire and train employees with a mindset for innova on. Workshop 9: Chapter 6 – Strategic management LEARNING OBJECTIVES:  Understand how strategic planning fits in with the overall management planning func on.  Know the consecu ve phases & steps of the strategic management process.  Make a SWOT analysis (incl. strengths - weaknesses - opportuni es - threats).  Classify strategies according to organiza onal level (i.e. strategic business unit, corporate or func onal), industry posi oning (i.e. product leadership, cost leadership, opera onal excellence) and/or compe ve approach (i.e. defend through consolida on, imita on or innova on). 1. Understand how strategic planning fits in with the overall management planning func on Strategic Planning: o Focuses on defining long-term goals and determining how to achieve them. o Provides direc on by aligning organiza onal ac vi es with the mission and vision. o Integral to the management planning func on as it: 1. Guides Organiza onal Efforts: Helps priori ze ac vi es and resources. 2. Facilitates Coordina on: Ensures all teams work towards the same goals. 3. Reduces Uncertainty: Encourages proac ve responses to changes in the business environment. Rela on to Management Func ons: o Planning forms the founda on, enabling the other func ons: organizing, leading, and controlling. 2. Know the consecu ve phases and steps of the strategic management process 1. Phase 1: Strategy Analysis: o External Analysis:  Use frameworks like PESTLE to iden fy macroeconomic trends (e.g., poli cal, economic, social, technological, legal, and environmental factors).  Apply Porter’s Five Forces to assess industry compe on. o Internal Analysis:  Assess organiza onal resources (e.g., financial, human, physical).  Iden fy core competencies and capabili es. o SWOT Analysis:   Combine external and internal insights to iden fy Strengths, Weaknesses, Opportuni es, and Threats. 2. Phase 2: Strategy Formula on: o Define the organiza on’s posi on in the market using frameworks like:  Treacy and Wiersema’s Value Disciplines: Product leadership, opera onal excellence, or customer in macy.  Porter’s Generic Strategies: Cost leadership, differen a on, or focus. o Outline compe ve strategies to address compe tor moves (e.g., imita on, improvement, innova on). 3. Phase 3: Strategy Implementa on: o Design structures, allocate resources, and define roles to execute the chosen strategy effec vely. 4. Phase 4: Strategy Evalua on: o Monitor performance and adapt the strategy as needed to maintain alignment with objec ves. 3. Make a SWOT Analysis Strengths: o Internal atributes that give the organiza on an advantage (e.g., skilled workforce, robust financial posi on). Weaknesses: o Internal limita ons that hinder performance (e.g., outdated technology, high turnover rates). Opportuni es: o External factors that the organiza on can exploit for growth (e.g., emerging markets, favorable regula ons). Threats: o External challenges that could nega vely impact the organiza on (e.g., new compe tors, economic instability). 4. Classify strategies according to organiza onal level, industry posi oning, and compe ve approach Organiza onal Levels: 1. Strategic Business Unit (SBU):  Focuses on a specific product line or market.   Goals: Gain compe ve advantage and op mize performance in a niche area. 2. Corporate:  Manages a por olio of SBUs.  Goals: Reduce risks through diversifica on and allocate resources across SBUs effec vely. 3. Func onal:  Focuses on op mizing departmental opera ons (e.g., marke ng, HR).  Supports corporate and SBU strategies. Industry Posi oning (Treacy & Wiersema): o Product Leadership: Focus on innova on and niche products. o Opera onal Excellence: Delivering cost efficiency and reliability. o Customer In macy: Providing tailored solu ons to customers. Compe ve Approach: o Consolida on: Defend market posi on by countering compe tors’ moves. o Imita on: Adopt successful prac ces from compe tors. o Innova on: Develop new products, services, or processes.