A competitive advantage approach

Corporate Governance Follow-Up/(Professor)

Sarah: I would love to see corporate governance standards raised a little higher. We all know these major corporations make more money than any of us can count, so why not give more to the community. It would be an easy tax write-off instead of them looking for breaks from the government. Give a little to get a little. What are your thoughts?

#7 Message expanded. Message read Re: Explain who you feel should be responsible for evaluating strategic plans Follow-up/(Professor)

Sarah, while it may be the responsibility of the President/Owner to evaluate the strategic plan. Sometimes they are not knowledgeable of what is needed because they are so far disconnected from the company and purely look at the bottom line….They rely on those that they have hired to maintain the success of the business. However, a hands-on approach is solid way to stay connect to the life and vibe of the organization.

#8 Contingency plans (Student)

The management responsibility is to plan for both opportunity and threads plans that address any changes affect the strategy implementation, as part of completing the strategy evaluation is to analyze the data, performance as well external changes in the industry, economic, and competitive advantage, however, the author stated that most organizations fail to create planning for opportunity while they focus on how addressing threads through alternative plans. Contingency plan offer management a full alternative plans can be implemented once issues and opportunity discovered to empower the strategy implementation “alternative plans that can be put into effect if certain key events do not occur as expected” (David & David, 2017, p. 293). Key event not limited to those changes only but rely on basics keys forecasting wheres measurable plan can improve the strategy, however, changes in the strategy must be addressed with all managers and employees before implementing any changes to overcome barriers such resistant of change, the plan must present critical reason of changes and how these changes can improve the result of ongoing strategy.

References

David, D., & David, F. (2017). Strategic Management: A competitive advantage approach (16th ed.). Retrieved from The University of Phoenix eBook Collection database.

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