Homework answers / question archive / INITIAL PART 1

INITIAL PART 1

Business

Share With

---

INITIAL PART 1. You have spent the last weeks developing your strategy and declaring a game-winning move for the company you selected for the Assignments.

• Share the game-winning move you selected for your company.
• Identify the most significant challenges you will face in successfully implementing your proposed move. These could be cultural, financial, operational, or any other factors that could undermine your new strategy.
• Identify specific steps you will take to successfully overcome these challenges. Include references to this week's materials to support your response.
• How will you "sell" the plan to generate buy-in?

PART A - PLEASE RESPOND TO CLASSMATE DISCUSSION WHETHER YOU AGREE OR NOT & A DETAILED WHY: The game-winning move I selected for my company is Mergers & Acquisitions. The company I selected for a possible acquisition is Dollar Bank. This move would expand the footprint and service area of Fulton while absorbing some improved technology and customer service procedures.

I think the companies are a good cultural fit for each other, and the move makes financial sense. Deal heat is one potential challenge if Dollar Bank wants too much money. According to the deadly sins of deals, making sure not to make too many concessions to Dollar and making sure the two companies are integrated properly on time are important. It is also important to keep the top people from the new company with buy-in for the acquisition deal.

Be willing to walk away if the price is too high. Communicate the plan well to all the employees and have lots of discussions at different levels about it. To make sure the companies are integrated on time, it must be ensured that the employees are ready to implement the strategy and that it is a priority for the company. The leadership should set milestones and measurements for the team to integrate (Welch, 4). Incentives can also be set for the team to reach the integration goals. Also, key performers can be chosen to lead the effort to show that the organization is taking this seriously.

Having clear communication throughout the organization and having managers who can answer employee concerns will help sell the company's plan (JWI540, 3). When figuring out what people to keep from both companies, Jack also mentions keeping the people who buy into the deal over people with resistance.

PART B - PLEASE RESPOND TO CLASSMATE DISCUSSION WHETHER YOU AGREE OR NOT & A DETAILED WHY: As stated in previous lecture notes, “Developing a winning strategy begins with a thorough understanding of your playing field (1). The organization that I selected to focus on for this project is, Daimler Trucks North America (DTNA). It is the largest heavy-duty truck manufacturer in North America. Heavy-duty trucks is the resource for freight to get from the dock to the end user.

Therefore, I selected producing a self-driving electric truck as the new strategy to trump the competition. Execution is going to be essential to winning. Having the best people is vital for the success of the business and implementation of the new product.

The most significant challenge will be fund allocation and finding the right people. As Jack stated, it will be important to put measurements on people. It has to be clearly stated, what results we are looking for. Additionally, a measurement system has to be in place to measure the new product, to ensure we are gaining additional revenues and get the attention of others.

To overcome challenges, I will communicate in a way received by the employees, understood, credible, actionable and information disseminated in a timely manner. I will connect in a way that will get the attention of the organization, get them excited and cause buy-in. Once I get the buy in and employees understand how essential they are to the implementation of the new product, then the plan can go into action.

Getting the buy in from various departments is important for the proposals process. Management needs to have a clear ideal of its objectives. The project may benefit one area and be paid for by another. Being aware of the budget process and allocation of funds is a key factory.

INITIAL PART 2. This class provided you with the ability to assess the playing field, the competition, and your organization in order to develop a game-winning move. Discuss how this knowledge has changed your perspective on your company (WENDY'S), and how your new skills might be helpful for your career trajectory.

PART A - PLEASE RESPOND TO CLASSMATE DISCUSSION WHETHER YOU AGREE OR NOT & A DETAILED WHY: This class made me think outside of the box. It helped me too see the importance of knowing the playing field. When I see the words “Playing Field”, I keep thinking about the boring baseball games I went to growing up. Baseball is not one of my favorite sports, but to win the game, you have to have eyes on every position and study the opponent’s plays of the game.

It is the same within the organization, when you know the positions played, and study the competition you have a better chance of winning. Just like the baseball game, you have to have a strategy to win. Having a competitive edge builds moat around the organization.

This class helped me to learn more about the organization I work for and challenged me to do research that I would not have done on my own. With the skills obtained, I feel more comfortable when deciding on my career path. I have a better understanding of how other departments buy-in creates a clear strategy and sets the foundation for winning.

Finally, if you do not study your opponent, strategize and take the risk, you cannot expect to win on the playing field.

PART B - PLEASE RESPOND TO CLASSMATE DISCUSSION WHETHER YOU AGREE OR NOT & A DETAILED WHY: Throughout this course I can truly say that I picked up more insight not only about strategy so to speak but effective ways to think through operational moves. I think us as employees, managers and overall stakeholders tend to follow through with “what works” and is acceptable within the department. While implementing operational efficiency strategies is never a “bad decision”, timing plays a big part. Also, recognizing that the answer is not always in the latest technological move, but sometimes it can be in building an internal culture of innovation, which can in fact allow your business or department to offer better customer service. Suggesting a strategy that focuses on the internal processes such as discontinuous innovation and how this leads to the competitive advantage. Watching it all together for all of these pieces and how the trickle down ends up being better customer service and less stressful employees, was truly the ultimate treat. I will be the first to say that I have so much more to learn about strategy and I think I was a little slow to truly start connecting the dots. As I continue to learn more about strategy I think this