A handful of companies on the Fortune 500 list are over 100 years old, which is rare. What organizational characteristics do you think might explain 100-year longevity? (2.5 points)
Chapter 2:
1. How might the top management of an organization use SWOT analysis or scenario planning to set goals and strategy? Explain and give examples from your experience.
Chapter 3:
1. Describe the virtual network structure. What are the advantages and disadvantages of using this structure compared to performing all activities in-house within an organization?
Chapter 4:
When would an organization consider using a matrix structure? How does the global matrix differ from the domestic matrix structure described in Chapter 3?
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Chapter 2:
1. The top management of an organization can use SWOT analysis to assess the internal strengths and weaknesses and external opportunities and threats. By identifying these factors, they can determine the organization's competitive advantage and potential areas for improvement. This analysis can guide goal setting and strategy development. For example, if a company identifies a strength in its strong brand image, it can set a goal to further leverage its brand to gain a larger market share. On the other hand, if a weakness is identified in the company's outdated technology, the strategy may focus on investing in new technologies to stay competitive.
Scenario planning, on the other hand, helps top management anticipate and prepare for different future scenarios. It involves creating multiple plausible future scenarios and assessing their potential impact on the organization. This approach enables the organization to develop strategies that are flexible and adaptable to different potential futures. For example, a retail company may consider different scenarios related to changing consumer preferences, such as increased online shopping or a shift towards sustainable and ethically sourced products. By considering these scenarios, the company can develop strategies to address these potential changes and stay ahead of the competition.
Chapter 3:
1. The virtual network structure involves outsourcing non-core activities to external partners, while retaining control over key functions. In this structure, the organization forms strategic alliances and partnerships with other companies to access specialized capabilities or resources. This allows the organization to focus on its core competencies while benefitting from the expertise of external partners.
Advantages of the virtual network structure include:
- Access to specialized skills and resources: By collaborating with external partners, the organization can tap into their expertise and access resources that may not be available internally.
- Cost efficiency: Outsourcing non-core activities can lead to cost savings and increased efficiency.
- Flexibility and adaptability: The organization can easily scale up or down by engaging or disengaging with various external partners.
Disadvantages of the virtual network structure include:
- Dependence on external partners: The success of the organization becomes reliant on the performance and reliability of its partners.
- Coordination challenges: Managing multiple external partners can pose coordination challenges and require effective communication and relationship management.
- Risk of losing control: Depending on external partners for critical activities may result in a loss of control over quality and decision-making.
Chapter 4:
An organization would consider using a matrix structure when it needs to balance multiple dimensions, such as functional expertise and product or project focus. This structure is particularly useful when the organization operates in dynamic environments that require cross-functional collaboration and coordination.
The global matrix structure differs from the domestic matrix structure described in Chapter 3 in terms of its geographical scope. The global matrix structure incorporates additional dimensions related to international operations. In the global matrix, managers need to consider factors such as different cultural norms, legal frameworks, and market conditions across different countries. This introduces added complexity to the coordination and management of activities in the global matrix structure.
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