WAL-MART EN ESTADOS UNIDOS Y EL MUNDO En 2001 Wal-Mart se convirtió en la segunda compañía más grande del mun¬do por sus ventas (la primera es Exxon Mobile). También es el mayor empleador p…Descripción completa
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c06.qxd
6/18/03
96
10:40 AM
CHAPTER 6
Page 96
STRATEGIC MANAGEMENT AND ENTREPRENEURSHIP
MA NAGE MEN T P RACT ICES AND S YS TEMS In order to successfully put strategies into action, the entire organization and all of its resources must be mobilized in support of them. This involves the complete management process from planning and controlling through organizing and leading. Every strategy requires supporting structures, well-designed tasks and workflows, and the right people. And, it must be enthusiastically supported by leaders who are capable of motivating everyone, building individual performance commitments, and utilizing teams and teamwork to best advantage. Only with such total systems support can strategies be implemented well enough to actually achieve competitive advantage. Common strategic planning pitfalls that hinder implementation include both failures of substance and failures of process. Failures of substance reflect inadequate attention to the major strategic planning elements—analysis of mission, values and objectives, organizational strengths and weaknesses, and environmental opportunities and threats. Manager’s Notepad 6.1 offers useful guidelines on how to double-check a strategy from a substance perspective.21 Failures of process reflect poor handling of the strategic planning process itself. A good example is lack of participation error. This is failure to include key people in the strategic planning effort.22As a result, they lack sufficient commitment to action and follow-through. This often occurs as a result of too much centralization of planning in top management or too much delegation of planning activities to staff planners or separate planning departments.
C O RP O RAT E G OV E RN AN CE Corporate governance is the system of control and performance monitoring of top management. ■
Organizations today are experiencing new pressures at the level of corporate governance. This is the system of control and performance monitoring of top management that is maintained by boards of directors and other major stakeholder representatives. In businesses, for example, corporate governance is enacted by boards, institutional investors in a firm’s assets, and other ownership interests. Each in its own way is a point of strategic performance accountability for top management.23 Boards of directors are formally charged with ensuring that an organization operates in the best interests of its owners and/or the representative public in the case of nonprofit organizations. Controversies often arise over the role of inside directors who are chosen from the senior management of the organization and MANAGER’S NOTEPAD 6.1 HOW TO DOUBLE-CHECK A STRATEGY
Check 1: Is the strategy consistent with mission and values? Check 2: Is the strategy feasible, given strengths/weaknesses? Check 3: Is the strategy responsive to opportunities and threats? Check 4: Is the strategy sustainable in competitive advantage? Check 5: Is the risk in the strategy a “reasonable” risk? Check 6: Is the strategy flexible enough?