Day: January 9, 2022

Change in any institution starts with leadership of an institution. We shall therefore look at leadership and Hofstede‘s cultural dimensions. Hofstede’s Cultural Dimensions Power Distance Index (PDI) focuses on the degree of equality, or inequality, between people in the country’s Read More …

Professionalism means conforming either to the technical or ethical standards of profession or an occuplion regarded as such. The important role that managers play in modern business organizations requires a professional approach or what is called professionalism in management. Challenges Read More …

This essentially should incorporate current as well potential businesses. The analysis should address the following two issues: What businesses will the organization be in? How will the organization allocate its resources among the businesses? These two issues give rise to Read More …

This focuses on effectiveness or performance of the organization as a whole. Effectiveness or performance of an organization as a whole may depend on various factors e.g. role in social responsibility, corporate image, and business portfolio. Business portfolio i.e. the Read More …

• Managerial Philosophy. The managerial philosophy determines the actions which managers take towards various factors affecting their decisions. Such factors may include the environmental forces as well as the various internal forces. If the managerial philosophy is positive, the managers Read More …

Strategy Formulation is designed to guide executives in defining the business, their company, the aims it seeks, and the means it uses to accomplish these aims. Strategy formulation involves an improved approach to traditional long-range planning. Strategy formulation joins a Read More …

External • PESTEL – Political, Economic, Societal, Technological, Ecological and Legal and regulatory factors • Competitive environment-Industry Analysis – Porter‘s Model, • Strategic groups Internal: • Organizational Capability analysis- SWOT matrix, Value Chain analysis • Organization Structure • Culture (Belief, Read More …

External environment 1.Environmental changes shape opportunities and challenges facing organizations in Kenya. 2.Need to adjust to these changes to remain successful in future. 3.Nature of environmental changes:- Global, regional, national (local). The questions to ask are:- 1.What is the direction Read More …

• Corporate strategy 1.Overall purpose and scope of the organization 2.Overall business domain 3.Corporate resource allocation 4.Value addition to the different parts of the organization ( ―2+2=5‖, outsourcing vs core business) 5.Principal focus – effectiveness. • Business Strategy 1.Competition with Read More …

The concept of strategy has been much used and often abused. It is a multi-dimensional concept and has found application in all fields of study and life. Has been defined variously as follows:- According to Thompson and Strickland, it is Read More …