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Strategic management - Wikipedia, the free encyclopedia. Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision making in the context of complex environments and competitive dynamics. Vladimir Kvint defines strategy as . Operational management is concerned primarily with improving efficiency and controlling costs within the boundaries set by the organization's strategy. Definition. Strategic planning is analytical in nature and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking, which synthesizes the data resulting in the strategy. Strategic planning may also refer to control mechanisms used to implement the strategy once it is determined. In other words, strategic planning happens around the strategic thinking or strategy making activity. While described sequentially below, in practice the two processes are iterative and each provides input for the other. Formulation ends with a series of goals or objectives and measures for the organization to pursue. Environmental analysis includes the: Remote external environment, including the political, economic, social, technological, legal and environmental landscape (PESTLE); Industry environment, such as the competitive behavior of rival organizations, the bargaining power of buyers/customers and suppliers, threats from new entrants to the industry, and the ability of buyers to substitute products (Porter's 5 forces); and. Internal environment, regarding the strengths and weaknesses of the organization's resources (i. IT systems).? Implementation results in how the organization's resources are structured (such as by product or service or geography), leadership arrangements, communication, incentives, and monitoring mechanisms to track progress towards objectives, among others. Because of this, he could not point to one process that could be called strategic planning. 1989 - 2009 20 Years CHANGE MANAGEMENT STRATEGIES MAKING THE MOST OF YOUR OPTIONS Achieving the full benefits of a new sourcing model requires going beyond. Active management (also called active. Active fund management strategies that involve frequent trading generate higher transaction costs which diminish the fund's. Chapter 10 LEADERSHIP AND MANAGEMENT 10.1 INTRODUCTION TO GOOD MANAGEMENT. Th ey motivate people. Facilities Management Strategies to Reduce Operating Costs October 2010 Mehul Shah and Christopher Dwyer. Technical Assistance to the Juvenile Court Bulletin Implementing Effective Case Management Strategies: A Guide for Probation Administrators Douglas Thomas, Patricia. Effective Classroom Management Effective Classroom Management is: 1. Planned not improvisational 2. Preventative rather than simply reactive. Grid-Interop Forum 2007 114.127-1 Utility Enterprise Information Management Strategies Kamal Parekh, San Diego Gas & Electric Joe Zhou, Xtensible Solutions. Instead Mintzberg concludes that there are five types of strategies: Strategy as plan . Where the realized pattern was different from the intent, he referred to the strategy as emergent; Strategy as position . The first group is normative. It consists of the schools of informal design and conception, the formal planning, and analytical positioning. The second group, consisting of six schools, is more concerned with how strategic management is actually done, rather than prescribing optimal plans or positions. The six schools are entrepreneurial, visionary, cognitive, learning/adaptive/emergent, negotiation, corporate culture and business environment. The third and final group consists of one school, the configuration or transformation school, a hybrid of the other schools organized into stages, organizational life cycles, or . 1 Vehicle Modeling for Energy Management Strategies J.T.B.A. Stress Management Strategies #1: Avoid unnecessary stress Not all stress can be avoided, and it’s not healthy to avoid a situation that needs to be addressed. Among the numerous early contributors, the most influential were Peter Drucker, Philip Selznick, Alfred Chandler, Igor Ansoff, and Bruce Henderson. Prior to 1. 96. 0, the term . He addressed fundamental strategic questions in a 1. The Practice of Management writing: . He recommended eight areas where objectives should be set, such as market standing, innovation, productivity, physical and financial resources, worker performance and attitude, profitability, manager performance and development, and public responsibility. Andrews in 1. 96. SWOT analysis, in which the strengths and weaknesses of the firm are assessed in light of the opportunities and threats in the business environment. Interactions between functions were typically handled by managers who relayed information back and forth between departments. Chandler stressed the importance of taking a long term perspective when looking to the future. In his 1. 96. 2 ground breaking work Strategy and Structure, Chandler showed that a long- term coordinated strategy was necessary to give a company structure, direction and focus. He says it concisely, . He developed a grid that compared strategies for market penetration, product development, market development and horizontal and vertical integration and diversification. He felt that management could use the grid to systematically prepare for the future. In his 1. 96. 5 classic Corporate Strategy, he developed gap analysis to clarify the gap between the current reality and the goals and to develop what he called . The experience curve refers to a hypothesis that unit production costs decline by 2. This supported the argument for achieving higher market share and economies of scale. The idea of strategy targeting particular industries and customers (i. The prevailing concept in strategy up to the 1. If you created a product that worked well and was durable, it was assumed you would have no difficulty profiting. This was called the production orientation. Henry Ford famously said of the Model T car: . The fallacy of the production orientation was also referred to as marketing myopia in an article of the same name by Levitt. This marketing concept, in the decades since its introduction, has been reformulated and repackaged under names including market orientation, customer orientation, customer intimacy, customer focus, customer- driven and market focus. It's more important than ever to define yourself in terms of what you stand for rather than what you make, because what you make is going to become outmoded faster than it has at any time in the past. Jim Collins. Change creates novel combinations of circumstances requiring unstructured non- repetitive responses; Affects the entire organization by providing direction; Involves both strategy formulation processes and also implementation of the content of the strategy; May be planned (intended) and unplanned (emergent); Is done at several levels: overall corporate strategy, and individual business strategies; and. Involves both conceptual and analytical thought processes. Chaffee further wrote that research up to that point covered three models of strategy, which were not mutually exclusive: Linear strategy: A planned determination of goals, initiatives, and allocation of resources, along the lines of the Chandler definition above. This is most consistent with strategic planning approaches and may have a long planning horizon. The need for continuous adaption reduces or eliminates the planning window. There is more focus on means (resource mobilization to address the environment) rather than ends (goals). Strategy is less centralized than in the linear model. Interpretive strategy: A more recent and less developed model than the linear and adaptive models, interpretive strategy is concerned with . It places emphasis on symbols and language to influence the minds of customers, rather than the physical product of the organization. These reflect an increased focus on cost, competition and customers. This framework came to be known by the acronym SWOT and was . Andrews helped popularize the framework via a 1. It has been empirically confirmed by some firms at various points in their history. Author Walter Kiechel wrote that it reflected several insights, including: A company can always improve its cost structure; Competitors have varying cost positions based on their experience; Firms could achieve lower costs through higher market share, attaining a competitive advantage; and. An increased focus on empirical analysis of costs and processes, a concept which author Kiechel refers to as . Further, the experience curve provided a basis for the retail sale of business ideas, helping drive the management consulting industry. By 1. 97. 9, one study estimated that 4. Fortune 5. 00 companies were using some variation of the matrix in their strategic planning. This framework helped companies decide where to invest their resources (i. He mentioned four concepts of corporate strategy; the latter three can be used together. The corporation shifts resources among the units and monitors the performance of each business unit and its leaders. Each unit generally runs autonomously, with limited interference from the corporate center provided goals are met. Restructuring: The corporate office acquires then actively intervenes in a business where it detects potential, often by replacing management and implementing a new business strategy. Transferring skills: Important managerial skills and organizational capability are essentially spread to multiple businesses. The skills must be necessary to competitive advantage. Sharing activities: Ability of the combined corporation to leverage centralized functions, such as sales, finance, etc. The growth- share matrix, a part of B. C. G. Analysis, was followed by G. E. Companies continued to diversify as conglomerates until the 1. This advantage derives from attribute(s) that allow an organization to outperform its competition, such as superior market position, skills, or resources. In Porter's view, strategic management should be concerned with building and sustaining competitive advantage. In five forces analysis he identified the forces that shape the industry structure or environment. The framework involves the bargaining power of buyers and suppliers, the threat of new entrants, the availability of substitute products, and the competitive rivalry of firms in the industry. These forces affect the organization's ability to raise its prices as well as the costs of inputs (such as raw materials) for its processes. Companies can maximize their profitability by competing in industries with favorable structure. Competitors can take steps to grow the overall profitability of the industry, or to take profit away from other parts of the industry structure. Active management - Wikipedia, the free encyclopedia. Active management (also called active investing) refers to a portfolio management strategy where the manager makes specific investments with the goal of outperforming an investment benchmark index. In passive management, investors expect a return that closely replicates the investment weighting and returns of a benchmark index and will often invest in an index fund. Concept. Either of these methods may be used alone or in combination. Depending on the goals of the specific investment portfolio, hedge fund or mutual fund, active management may also serve to create less volatility (or risk) than the benchmark index. The reduction of risk may be instead of, or in addition to, the goal of creating an investment return greater than the benchmark. Active portfolio managers may use a variety of factors and strategies to construct their portfolio(s). These include quantitative measures such as price. Some actively managed funds also pursue strategies such as risk arbitrage, short positions, option writing, and asset allocation. Asset allocation. For example, a large- cap U. S. Then those stocks will do better or worse than the class in general. Another fund may choose to move money between bonds and stocks, or some country versus a different one, et cetera. Then one class will do worse or better than the other class. The case where a fund changes its class of assets is called style drift. An example would be where a fund that normally invests in government bonds switches into stocks of small companies in emerging markets. Although this gives the most discretion to the manager, it also makes it difficult for the investor (portfolio manager) if he also has a target of asset allocation. Performance. Many mutual funds purported to be actively managed stay fully invested regardless of market conditions, with only minor allocation adjustments over time. Other managers will retreat fully to cash, or use hedging strategies during prolonged market declines. These two groups of active managers will often have very different performance characteristics. Approximately 2. 0% of all mutual funds are pure index funds. The balance are actively managed in some respect. In reality, a large percentage of actively managed mutual funds rarely outperform their index counterparts over an extended period of time because 4. Prospectuses of closet indexers will often include language such as . As the time period for comparison increases, the percentage of actively managed funds whose gains exceed the S& P benchmark declines further. This may be due to the preponderance of closet- index funds in the study. Of these 3. 0% of funds there are out- performers and under- performers, but this group that outperforms is also the same group that outperforms passively managed portfolios over long periods of time. However, since many investors are not satisfied with a benchmark return, a demand for active management continues to exist. In addition, many investors find active management an attractive investment strategy in volatile or declining markets or when investing in market segments that are less likely to be profitable when considered as a whole. These kinds of sectors might include a sector such as small cap stocks. Advantages of active management. Investors may have a variety of motivations for following such a strategy: An investor may believe that actively managed funds do better in general than passively managed funds. Investors believe that they have some skill for picking which active managers will do better after they have invested. They may be skeptical of the efficient- market hypothesis, or believe that some market segments are less efficient in creating profits than others. They may want to manage volatility by investing in less- risky, high- quality companies rather than in the market as a whole, even at the cost of slightly lower returns. Conversely, some investors may want to take on additional risk in exchange for the opportunity of obtaining higher- than- market returns. Investments that are not highly correlated to the market are useful as a portfolio diversifier and may reduce overall portfolio volatility. Some investors may wish to follow a strategy that avoids or underweights certain industries compared to the market as a whole, and may find an actively managed fund more in line with their particular investment goals. Passively managed funds that track broad market indices such as the S& P 5. The fees associated with active management are also higher than those associated with passive management, even if frequent trading is not present. Those who are considering investing in an actively managed mutual fund should evaluate the fund's prospectus carefully. Data from recent decades demonstrates that the majority of actively managed large and mid- cap stock funds in United States fail to outperform their passive stock index counterparts. In addition, the short- term capital gains resulting from frequent trades often have an unfavorable income tax impact when such funds are held in a taxable account. When the asset base of an actively managed fund becomes too large, it begins to take on index- like characteristics because it must invest in an increasingly diverse set of investments instead of those limited to the fund manager's best ideas. Many mutual fund companies close their funds before they reach this point, but there is potential for a conflict of interest between mutual fund management and shareholders because closing the fund will result in a loss of income (management fees) for the mutual fund company. Real active management. In other words, the directors and board members don't directly impact the future performance of the fund. Real active management, then, is when every manager and director has a vested interest in the success of the fund. Private equity is often real active management since a privately owned company usually has just one owner that make strategy decisions at the board level. See also. Malkiel, A Random Walk Down Wall Street, W. Norton, 1. 99. 6, ISBN 0- 3. John Bogle, Bogle on Mutual Funds: New Perspectives for the Intelligent Investor, Dell, 1. ISBN 0- 4. 40- 5. Mark T. Hebner, Index Funds: The 1. Step Program for Active Investors, IFA Publishing, 2. ISBN 0- 9. 76. 80. All services and programs. Library and Archives Canada. The Canadian Architectural Archives. Gold Medal, Royal Architectural Institute of Canada, 1984; Chicago Architecture Award, 1984. All three principals were graduates of the University of Alberta's architecture program. Figure 4: LAC Program Activity Architecture Governement of Canada Priority Area. A Vibrant Canadian Culture and Heritage. LAC Program Activity Architecture. Strategic Outcome 1.0 Current and future generations.
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Workplace wellness - Wikipedia, the free encyclopedia. Workplace wellness is any workplace health promotion activity or organizational policy designed to support healthy behavior in the workplace and to improve health outcomes. Known as 'corporate wellbeing' outside the US, workplace wellness often comprises activities such as health education, medical screenings, weight management programs, on- site fitness programs or facilities. The lifestyles of people in the workforce are important both for the sake of their own health and for the sake of their employer's productivity. Companies often subsidize these programs in the hope that they will save companies money in the long run by improving health, morale and productivity, although there is some controversy about evidence for the levels of return on investment. What Are the Different Types of Wellness Programs? If your company doesn’t have a formal pregnancy wellness. Workplace wellness programs encourage employees to take steps to prevent health conditions. Quintessential LiveCareer. There are two types of wellness programs. Two Program Types: HIPAA regulations. Health Policy Briefs are produced under a partnership of Health Affairs and. These include three laws that directly affect wellness initiatives: Rationale. The causes for this are numerous and included among the list are increases in automation and labor- saving devices that have resulted in a change in the way we live and work. Employees in many workplaces now spend much of their time sitting (sedentary) and often have easy access to energy- dense food and beverages. As a result, unhealthy workplaces are believed to be a contributory factor in the obesity epidemic. Wellness Programs and Rewards Final Regulations Released. STUMBLEUPON; Wellness Programs and Rewards Final. The components of employer-provided wellness programs and their potential impact on. Source: Hewitt Associates, Two Roads. Two types of wellness programs. Obesity has been linked to numerous chronic diseases including cardiovascular disease, dyslipidemia, osteoarthritis and some cancers. Obesity is associated with increased absenteeism, disability, injury and healthcare claims, which alongside the affects on those affected, also drive up costs for employers. Furthermore, when compared to other industrialized countries, the US has the highest per capita costs for health care and also as a percentage of gross domestic product, yet ranks in the bottom quartile for life expectancy and infant mortality. Some employers have also begun varying the amount paid by their employees for health insurance based on participation in these programs. In 2. 00. 0 the health costs of overweight and obesity in the US were estimated at $1. Being overweight increases yearly per person health care costs by $1. The emerging discipline of Health and Productivity Management (HPM) has shown that health and productivity are . There is now strong evidence that health status can impair day- to- day work performance (e. Employers are encouraged to implement population- based programs including health risk appraisals and health screenings in conjunction with targeted interventions. Department of Health and Human Services report. Rewarding employees based on meeting goals is known as a . A conceptual model has been developed by the Task Force for Community Preventive Services and serves as an analytic framework for workplace wellness and depicts the components of such comprehensive programs. They target the whole workforce rather than individuals by modifying physical or organizational structures. Examples of environmental changes may include enabling access to healthy foods (e. Policy strategies may involve changing rules and procedures for employees, such as offering health insurance benefits, reimbursement for health club memberships, or allowing time for breaks or meals at the worksite. Informational and educational strategies attempt to build the knowledge base necessary to inform optimal health practices. Information and learning experiences facilitate voluntary adaptations of behavior conducive to health. Examples include health- related information provided on the company intranet, posters or pamphlets, nutrition education software, and information about the benefits of healthy diet and exercise. Behavioral and social strategies attempt to influence behaviors indirectly by targeting individual cognition (awareness, self- efficacy, perceived support, intentions) believed to mediate behavior changes. These strategies can include structuring the social environment to provide support for people trying to initiate or maintain weight change. Such interventions may involve individual or group behavioral counseling, skill- building activities such as cue control, use of rewards or reinforcement, and inclusion of coworker or family members for support. Employers can use Healthy People 2. As defined by Healthy People 2. Health education, which focuses on skill development and lifestyle behavior change along with information dissemination and awareness building, preferably tailored to employees. These include an organization. Most of the publicly available reputable sources provides tips and tools, but are not . This is far short of the 7. Healthy People 2. The encouraging news is that since the 2. This is evident by pending federal legislation and the growth of employer- based health coalitions such as the National Business Group on Health, Institute for Health and Productivity Management, Center for Health Value Innovation, and the National Business Coalition on Health. Peer- based executive advocacy through the Leading by Example initiative of Partnership for Prevention is another example of this trend towards comprehensive workplace health promotion. Low participation rates by employees significantly limit the potential benefits. Little is known or reported about the determinants of participation, but some clues are emerging. Ongoing management support and accountability are critical to successful worksite health promotion programs. Men and women participate in different types of activities, and white- collar employees engage in activities at a greater rate than blue- color employees. One reason for low participation rates may have to do with the messaging associated with the policy or program. In order to motivate or persuade employees to participate and change behavior, messages should be individually targeted which results in more significant positive attitude change. One of the strongest predictors of health status is socioeconomic status (SES), and the gap between SES groups is widening (Thompson). Research is being conducted to better understand the challenges and come up with solutions. One idea involves soliciting the assistance of member of the community and giving ownership of the program to the employees. This approach is based on Bracht. In 2. 00. 3, Health & Lifestyles was hired to help promote healthier lifestyles, increase employee morale, and combat rising health care costs and absenteeism rates. Methods. The program expanded to include healthier food options, cash incentives, health newsletters, workshops, dietary counseling, smoking cessation programs, and a second fitness center. As of lately companies have begun adopting technological trends in efforts to increase participation in work site wellness programs. Companies have been embracing technology from corporate wellness companies to provide their workforce with wellness website portals, mobile applications, and health coaching. Consequences. Absenteeism has decreased by approximately 2. Interpretation. Employees engage in more physical activity, have better knowledge of disease management (diabetes and asthma), have better eating habits, and smoke less than they did before the program was implemented. Health care and absenteeism costs have been reduced and are continuing to decline, most likely as a result of the program. Managerial staff have reported that employee morale has increased since the program was implemented. Most importantly, however, we believe that the wellness program has the potential to reduce the prevalence and severity of chronic diseases, allowing Capital Metro employees to lead longer, healthier lives. Agency for Healthcare Research and Quality. A., Glanz, K., Ramirez, G., Kahwati, L. P., Katz, D. L., Task Force on Community Preventive Services (2. The effectiveness of worksite nutrition and physical activity interventions for controlling employee overweight and obesity: a systematic review. American Journal of Preventive Medicine, 3. Healthy Workforce 2. Beyond. Partnership for Prevention. Labor, Immigration & Employee Benefits Division: U. S. Chamber of Commerce^Kaiser Family Foundation/Health Research Education Trust. Employer Health Benefits Survey.^Kaiser Family Foundation/Health Research Education Trust. Employer Health Benefits Survey Exhibit 6. Healthy Workforce 2. Beyond. Partnership for Prevention. Labor, Immigration & Employee Benefits Division: U. S. Chamber of Commerce.^ abhttp: //www. Pro. Quest Education Journals. Reducing the Risk of Heart Disease and Stroke, Centers for Disease Control.^Do Employee Wellness Programs Really Pay Off?^Health Promotion Worksite Initiative, Missouri Department of Health & Senior Services.^Healthy, Wealthy, and Wise: The Fundamentals of Workplace Health Promotion. Wellness Council of America.^Hansen, Julieann. American College of Sports Medicine. Retrieved 1. 9 September 2. Wellness Council of America. Retrieved 1. 6 May 2. Retrieved 1. 6 May 2. The Effectiveness of Worksite Nutrition and Physical Activity Interventions for Controlling Employee Overweight and Obesity. American Journal of Preventive Medicine. The effectiveness of worksite nutrition and physical activity interventions for controlling employee overweight and obesity: a systematic review. American Journal of Preventive Medicine, 3. Factors influencing participation in worksite wellness programs among minority and underserved populations. Family & Community Health, 2. L., Witcher, C., Loitz, C. 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