Question One
Strategy implementation is critical for the success of an organization in this dynamic global world. Two businesses in New York have resource allocation and aligning managers with a strategy to maintain competitiveness in diverse industries. The two companies are Moog, Inc. and M&T Bank Corporation. Moog Inc. is one of the worldwide leaders in precision control components and systems. It is based out of East Aurora, New York. Moog has successfully implemented several resource allocation strategies to reasonably and appropriately support its product lines, ranging from aerospace and defense to industrial automation and medical equipment. This has enabled Moog Inc. to succeed by carefully allocating resources to meet market demand and advanced technologies. In addition, Moog aligns its managers with specific strategic initiatives while assuring that its leaders have the competency and vision to ensure growth and innovation in their respective areas (Weller et al., 2019, p.188). They have leveraged the alignment through strategic alignment of crucial business enablers that ensure increased business performance, keeping them at the top in precision control solutions. These strategies have been a success for Moog Inc. and have enabled them to maintain industry competitiveness.
M&T Bank Corporation, based in Buffalo, New York, is a regional financial company that deals with banking, investment, and mortgage services in the Northeast United States. M&T has ideally used resource allocation strategies to underpin its expansion initiatives and boost operational efficiencies. Through prudent capital and resource allocation, network growth at the branch level, product offers expansion, and increased ability for customer service. The M&T further assists in placing managers on strategic priorities to ensure leadership is accorded to people with skills and experience in effectively and efficiently executing the initiatives (Al-Aina & Atan, 2020, p.2). The approach allowed M&T to respond to the changing market environment, assume growing opportunities, and create value for the company’s shareholders and customers.
Question two
Organizational culture plays a critical role in determining the success of the organization. Several approaches can be used to shape the organization’s culture. This includes but is not limited to proper communication and training and development programs. Leadership role modeling and communication are the two most influential tools to change organizational culture. Most organizational culture is determined by leaders, who are responsible for shaping culture in any organization through their actions and decision demonstration of desired values and behaviors (Shani & Noumair, 2021, p.88). Being an example for employees by continuously showing what culture is desired and strengthening the norms of culture will shape how an organization thinks.
Other instruments that change organizational culture are training and development. It is a way in which training and development programs prepare employees in terms of knowledge, skills, and toolsets that enable them to understand and practice values and behavior from culture (Bhaduri, 2019, p.554). These are arranged through workshops, seminars, and online training on themes like the spirit of working in teams, diversity and inclusiveness, customer service, and ethical behavior so that the new culture is spread throughout the workforce. The fact that cultural expectations make their way into the performance appraisals and reward systems sends a powerful message about cultural alignment and involving employees in the change process. We can form a culture using permanent training and development programs, all considering the organization’s strategic objectives and supporting them as drivers of their sustainable success.
Question three
It is paramount to fit managers to strategy and resource allocation in the fluid of opportunity and uncertainty that characterizes the world’s current global economy. This is for the managers to harmonize their skills, expertise, and leadership styles with the organization’s goals. In other words, businesses make sure that their leaders can make correct decisions and, at the same time, drive implementation effectively. This alignment creates a culture of accountability, whereby the manager will be in a better position to administer the initiative strategically with explicit purposes to strengthen further the organization’s ability to adapt to market conditions and sustainable growth development (Knight et al., 2020, p.30).
This also assumes strategic resource allocation, especially in today’s global economy, where bombardment with multiple competing demands lay siege to a short supply of resources. This focus allows businesses to maximize returns and reduce risks by strategically allocating their investments within the context of strategic priorities and market potential. This approach allows efficient use of financial, human, and technological resources so that they can follow an innovation strategy, rapidly attacking new markets and reacting to threats from competitors. This will ensure that the organization matches the most effective managers with the strategy developed to strengthen their competitive advantage in the fast-changing global dynamic business environment.
Question Four
Marketing
This can be achieved by leveraging innovation and technology where personalized messages driven by data in marketing channels that allow companies to use targeted campaigns aimed at building brand awareness and customer engagement in any given market are used.
R&D
Invest in innovative technologies and cross-cultural research collaborations to develop products tailored to global consumer preferences and foster competitive advantage and market differentiation.
Finance/Accounting
Drive capital allocation, currency exposure, and international accounting standards with sustainable financial performance through enhanced financial analysis tools and risk management strategies.
Management Information Systems (MIS)
Deploy integrated MIS platforms for real-time information gathering, decision support, and streamlined communication across global operations that will enhance organizational agility and efficiency amidst the complexities offered by the dynamic business environment.
Question Five
Business ethics, social responsibility, and environmental sustainability have become essential in modern business life since they are the vast issues that significantly impact stakeholders, long-term viability, and reputation. All these ethical conducts guide the various decision-making processes to be pursued with integrity, honesty, and fairness in how they relate to their employees, customers, suppliers, and the community around them. Social responsibility is the identification and working of society’s social and economic demands, including issues like diversity, equity, practice of labor, and community development. Social responsibility adds value to building trust, improves stakeholder relationships, and strengthens the brand’s reputation. Lastly, environmental sustainability is important because it helps reduce climate change, conserves natural resources, and avoids oversized ecological footprints. Thus, businesses have the responsibility to be involved in sustainable practice: to do the least possible harm to the environment and contribute to a better future. Business ethics intertwine with social responsibility and environmental sustainability within corporate strategy design in response to the demands not only of society but of innovation, resilience, and long-standing success in the dynamically changing global economy (Sheehy & Farneti, 2021, np).
References
Al Aina, Riham, and Tarik Atan. “The impact of implementing talent management practices on sustainable organizational performance.” Sustainability 12.20 (2020): 8372.
Bhaduri, Raka M. “Leveraging culture and leadership in crisis management.” European Journal of Training and Development 43.5/6 2019: 554–569.
Knight, Eric, Jarryd Daymond, and Sotirios Paroutis. “Design-led strategy: how to bring design thinking into the art of strategic management.” California management review 62.2 2020: 30–52.
Shani, Abraham B., and Debra A. Noumair, eds. Research in organizational change and development. Emerald Publishing Limited, 2021.
Sheehy, Benedict, and Federica Farneti. “Corporate social responsibility, sustainability, sustainable development and corporate sustainability: What is the difference, and does it matter?.” Sustainability 13.11 2021: 5965.
Weller, Ingo, et al. “How matching creates value: Cogs and wheels for human capital resources research.” Academy of Management Annals 13.1 2019: 188–214.
write