Identifying a patient, stating the reason for admission/appointment - Free Essay Example

Sample details Pages: 6 Words: 1723 Downloads: 4 Date added: 2017/06/26 Category Medicine Essay Type Essay any type Level High school Did you like this example? Identify a patient, stating the reason for admission/appointment. Identify a patient, stating the reason for admission/appointment. It must be on diabetes. Describe a specific problem that has been highlighted through the assessment process. Explore factors that may have led to their hospital admission/appointment. This could include physical psychological and social aspects. Case details In this essay we shall discuss the case of Mrs Singh. She is an elderly lady of 76 yrs. old. Who lives in warden assisted accommodation. She has done so for the last ten years since her husband died. She has had Type II diabetes mellitus for the last 17 years, and copes reasonably well considering her age and her comparative infirmity. She has been able to go out and get her shopping from the nearby shops and is otherwise self-caring, clean and tidy. According to the referral letter from her General Practitioner, who arranged this admission to hospital, a number of people had recently commented that she looked ill and was not caring for herself as well as she used to do. Her family live a considerable distance away from her and, although they see her about once or twice a month, they do not stay for long as they have a business to run. When she was admitted she was found to be lucid and coherent but her family told us that she had had a number of episodes of confusion rec ently. She was occasionally very sleepy and had left the gas burning on one occasion. She had a large infected ulcer on her left shin, which had clearly been there for a matter of weeks, but because of her habit of wearing long skirts, no one had noticed it. She had a degree of ankleoedema, but her physical examination was otherwise unremarkable, apart from the fact that she had a BMI in excess of 29. She is a moderate smoker. Don’t waste time! Our writers will create an original "Identifying a patient, stating the reason for admission/appointment" essay for you Create order Discussion Mrs Singh as an individual is clearly unique, but sadly, she also represents a great many elderly diabetic patients who live in similar conditions. The thrust of this particular discussion will be the aetiology and management of her condition with particular relevance to her leg ulcer. Diabetes Mellitus, an overview Diabetes is a comparatively common disease process in the UK. In children it is the commonest major illness (after childhood infections). There are approximately 1.5 million diabetic patients in the UK at present and the number is relentlessly increasing. (Devendra et al 2004). The 1.5 million are not equally spread across all segments of the population. People from the Asian and Afro-Caribbean ethnic backgrounds have a markedly increased risk of developing Diabetes Mellitus (UKPDSG 1998) with one in four of all Afro-Caribbean women over the age of 55 being diabetic. (Nathan 1998). Increasing age and BMI also are both independent risk factors for Diabetes Mellitus (James 1997). Of this number, it is expected that about 10% will develop some form of lower limb ulceration while they are diabetic. (Amos et al 1997). To some extent, it is statistically more likely that those patients who have poor control of their diabetic state will develop ulceration (and other complications) than those patients who have good control. The other factor that is relevant in the aetiology of leg ulceration is the length of time a person is diabetic. Chronicity of the disease process is an independent variable for leg ulceration. (Simon P et al 2004). A number of authorities have estimated the burden of cost of Diabetes Mellitus to the NHS. A recent study by Newrick (et al 2000) considered that 9% of the total NHS budget was spent on diabetes and diabetic related issues. By far the biggest single portion of that amount (over half) was on the treatment of complications and the commonest clinically relevant complication is that of venous ulceratio n (Ellison et al2002) We can start by considering the pathophysiology of Diabetes Mellitus Pathophysiology This is a huge subject in its own right and we shall therefore present a brief overview as far as it is relevant to Mrs Singh. In broad terms Diabetes Mellitus is a condition where the body loses the ability to metabolise carbohydrates in general and glucose in particular. Glucose is absorbed from the gut, transported to the liver where is can be stored as glycogen, and then transported through the bloodstream to the cells in the periphery of the body, where it is one of the main metabolic substrates. It is absorbed from the blood into the cells by a specific molecular carrier system and this is totally insulin dependent. If there is a failure of insulin production, then the circulating level of insulin falls and the glucose is not transported into the cells. This leads, initially to hyperglycaemia and finally to ketosis and metabolic failure. This is the situation of Type I diabetes mellitus. The alternative is Type II diabetes mellitus where the cells lose the abilit y to respond to the circulating insulin levels. This also results in hyperglycaemia and eventual metabolic failure but is characterised by high levels of circulating insulin. In general terms, Type I diabetes mellitus is a comparatively acute illness whereas Type 1 diabetes mellitus tends to be far more chronic, sometimes taking many months or even years to become clinically apparent. (after Donnelly et al 2000)/ The complications of Diabetes Mellitus are many. The largest group are the micro- and macro vascular group of the cardiovascular complications. (Stratton I et al 2000). The macro vascular group are usually related to the process of atherosclerosis and present with either degrees of myocardial is chaemia or as peripheral impairment such as intermittent claudication or ulceration. In general terms the incidence of this type of complication is directly associated with the average levels of HbA1 (which is a long term indicator of diabetic control) (HSG 1997). Nursing interventions The major nursing intervention to discuss here is the management of the leg ulcer. In any medical intervention its important to establish a sound evidence base (Sackett, 1996). We shall therefore quote the literature relevant to each point. The first, and arguably most important consideration is whether the ulcer is primarily venous, arterial or (more rarely) neuropathic in origin. This is comparatively easily determined by an assessment of the ankle/brachial pressure ratio. This is measured by means of a Doppler measure and the ratio is easily calculated. If it is less than the critical level of 0.8 it is likely that an significant arterial element is present.(Partsch H. 2003). Mrs Singh was treated with a 4 layer bandage. Her ratio was significantly above the 0.8 threshold and the main aetiology of her ulcer was therefore judged to be venous. The composition and construction of a 4-layer bandage is very specific but it can be individually modified to suit the demands of the individual patient. The first layer is a cotton wool based bandage with the primary purpose of absorbing the copious amounts of exudates that are common with this type of ulcer. It also has the secondary purpose of spreading the pressure evenly across the underlying tissues the second layer is a crepe bandage which has the prime function of holding the lower layer in place. The third layer is a compressive layer, usually an elastic type of bandage is then applied and this is covered by a final binding layer. (Nelsonet al. 2004). The rationale behind the bandage is that in the typical diabetic venous ulcer there is an increased pressure at the venous end of the capillary bed which translates into stagnation in the capillary blood flow which renders the tissues less viable because of poor oxygenation. By exerting physical pressure of about 40 mm Hg on the tissues, this increase of venous pressure is negated and the circulation improved.(Thomas S. 2003). Clearly it follows that in an arterial ulcer, as there is a reduction in the arterial pressure at the arterial end of the capillary bed, any increase in physical pressure could further reduce the blood flow across the capillary bed, which is why it is vital to differentiate between the two types before applying the bandage.(Marston W et al. 2003). The second main nursing intervention, and possibly more beneficial in the longer term, would be the Health Promotion aspects of the nursing relationship. Mrs Singh is overweight. Her BMI is about 29 which means that her weight is not only contributing to the reduction in venous return, and thereby contributing to both the aetiology and the persistence of her ulcer, but the obesity is also a major factor in the aetiology of her Type II diabetes mellitus. If Mrs Singh can be persuaded to reduce her weight, her need for hypoglycaemic medication may well lessen. It is possible that it may reduce to the point that she could manage her condition o n diet alone. (Terry T-K et al 2003). Smoking is not only an independent risk factor for Type II diabetes mellitus, but it is also a risk factor for cardiovascular disease. A major health promotion measure would therefore be to help Mrs Singh to give up smoking. This is not a short term measure, so is not particularly suited for hospital intervention, although the nursing staff spent a considerable amount of time with Mrs Singh to explain the problems associated with smoking. (Marks-Moran Rose 1996). On discharge she was referred to, and seen by, the smoking cessation nurse at the local primary healthcare team. The whole concept of patient empowerment and education is most important in this field. If a patient understands why they are being asked to do something, they are much more likely to comply with the request from the healthcare professional (Marinker M.1997). The weight reduction needs to be carefully managed if it is to be successful. She was referred to the d ietician who prescribed a low fat, carbohydrate regulated, 1,200 cal. per day diet. Because this is clearly going to be a long term intervention, arrangements were made for Mrs Singh to be followed up in the community dietetic clinic. Mrs Singh was in hospital for seven days when the multidisciplinary discharge team were able to arrange her discharge. This involved the assistance of an occupational therapist to assist with minor home modifications and the community nurses who continued the treatment with the 4 layer bandage. (Harrison, I. D et al 2005) The diabetic specialist nurse was also involved. As Mrs Singhs weight slowly reduced she was able to reduce and finally come off her hypoglycaemic medication.

Twelfth Night by William Shakespeare - 2088 Words

Twelfth Night, or, What You Will by William Shakespeare is a comedy that was written for the Christmas season. Twelfth Night presents many different topics throughout the play like: crossdressing, homosexuality, unknown same sex desires, and undertones of talk about genitals. Although some are more noticeable than others, they are all present. I will be focusing mainly on the homosexuality of some of the characters and what the difference between that and just having a ‘male friendship.’ I will also address how homosexuality was thought of in the Elizabethan Era and how that affected the relationship between the characters in Twelfth Night. The play starts off by Duke Orsino saying how madly in love he is with Lady Olivia, but she won’t have anything to do with any suitors, due to mourning over her brother’s death. Viola is found from a shipwreck where she believes her brother drowned. Viola disguises herself as a man and seeks a job with the Duke. Within days, Cesario (Viola) has made it as one of the Duke’s favorites. Cesario created a friendship with the Duke. The male friendships in the Elizabethan Era was not your average male friendship that you would find today. They had a very close and intimate friendship. Males looked to other men for companions because men were looked upon as more superior and females were looked down upon (Stanley 120). Males would hug, walk arm in arm and they would even kiss in the public without people giving it a second thought aboutShow MoreRelatedTwelfth Night by William Shakespeare1279 Words   |  5 Pages Within the play ‘Twelfth Night’ it can be argued that the audience may be entertained by the outlook of Malvolio’s gulling. To start with his name means â€Å"ill will† within Italian which already suggests his attitude towards the other characters thus showing his place within the play as an â€Å"unpopular†character. He is a part of a religious order who sought to regulate forms of worship. In modern time the word â€Å"puritan† is often used to mean Against pleasure . Historically, the word was has been usedRead MoreTwelfth Night by William Shakespeare1019 Words   |  5 Pagesconsidered elements of a comedy. Shakespeare wrote a comedy called Twelfth Night because that’s the Christmas Celebration when pranks and deceptions were allowed when people were off work. However the last day 6th January was when all the decorations came down, which brought a tinge bit of sadness to the Elizabethans. William Shakespeare employs the dramatic conventions of mistaken identity and disguise to establish humour in an example of Act 2 Scene 2 of Twelfth Night. Viola realises Olivia is inRead MoreTwelfth Night by William Shakespeare1164 Words   |  5 PagesIn the comedy Twelfth Night written by William Shakespeare many of the characters experience emotional pain. The pain that a character name Olivia experiences is the death of her brother, causing her to mourn. 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Slowly with the knowledge gained, we transitioned into examining the adaptations of the world famous playwright, William Shakespeare. For this assignment, we were to choose a modern Shakespeare adaption and compare its successes and failures to its traditional script. With the choices given, I decided to choose the Twelfth Night to its modern adaption directed by Andy Fickman called, â€Å"She’s the Man.† I was pleasantly surprised when I saw it as an option, therefore I feltRead MoreWilliam Shakespeare s Twelfth Night1967 Words   |  8 Pages William Shakespeare’s â€Å"Twelfth Night† or â€Å"What You Will† was written around 1601-1602 with the primary performance being in February 1602. It is known to be a high point of Shakespearian comedy as it is one of Shakespeare’s finest works. Twelfth night was written to commemorate the close of the Christmas season being possibly one of the first ever holiday specials, kind of like the Middle Ages version of â€Å"Love Actually†. 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What interests me in this play most is the fact that there are a lot of love interests. Duke Orsino is greatly attracted to a gentlewoman called Olivia. However, despite his attempts to court her, she rejects his approaches as she claims to be in a period of mourning for her dead brother which has been going on for seven years. Olivia forms a tight friendship with Viola, a woman

Case 1 Free Essays

string(117) " management that the industry has changed in a significant way that renders the company’s current vision obsolete\." chapter 2 CHARTING A COMPANY’S DIRECTION: VISION AND MISSION, OBJECTIVES, AND STRATEGY McGraw-Hill/Irwin Copyright  © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. LO1 Grasp why it is critical for company managers to have a clear strategic vision of where a company needs to head and why. We will write a custom essay sample on Case 1 or any similar topic only for you Order Now LO2 Understand the importance of setting both strategic and financial objectives. LO3 Understand why the strategic initiatives taken at various organizational levels must be tightly coordinated to achieve companywide performance targets. LO4 Become aware of what a company must do to achieve operating excellence and to execute its strategy proficiently. LO5 Become aware of the role and responsibility of a company’s board of directors in overseeing the strategic management process. 2-2 What Does the Strategy-Making, Strategy-Executing Process Entail? 1. 2. 3. 4. Developing a strategic vision Setting objectives Crafting a strategy Implementing and executing the chosen strategy 5. Monitoring developments, evaluating performance, and initiating corrective adjustments 2-3 FIGURE 2. 1 The Strategy-Making, Strategy-Executing Process 2-4 TABLE 2. Factors Shaping Decisions in the Strategy-Making, Strategy-Executing Process Internal Considerations Does the company have an appealing customer value proposition? What are the company’s competitively important resources and capabilities and are they potent enough to produce a sustainable competitive advantage? Does the company have sufficient business and competitive s trength to seize market opportunities and nullify external threats? Are the company’s prices and costs competitive with those of key rivals? Is the company competitively stronger or weaker than key rivals? External Considerations Does sticking with the company’s present strategic course present attractive opportunities for growth and profitability? What kind of competitive forces are industry members facing and are they acting to enhance or weaken the company’s prospects for growth and profitability? What factors are driving industry change and what impact on the company’s prospects will they have? How are industry rivals positioned and what strategic moves are they likely to make next? What are the key factors of future competitive success and does the industry offer good prospects for attractive profits for companies possessing those capabilities? 2-5 Factors Shaping Strategic Decisions External Considerations What are the industry’s economic characteristics? How strong are the competitive forces at play? What forces are driving change in the industry? What market positions do rivals occupy and what moves are they likely to make next? What are the key factors for future competitive success? What are the company’s external opportunities? 2-6 Factors Shaping Strategic Decisions Internal Considerations How well is the present strategy working? What are the company’s competitively valuable resources, capabilities, and internal weaknesses? Are the company’s prices and costs competitive? Is the company competitively stronger or weaker than key rivals? 2-7 Stage 1: Developing a Strategic Vision, a Mission, and Core Values Strategic Vision Is top management’s views about the firm’s direction and future product-market-customer-technology focus Provides a panoramic view of â€Å"where we are going† Is distinctive and specific to a particular organization Avoids use of innocuous uninspiring language that could apply to most any firm Definitively states how the company’s leaders intend to position the firm beyond where it is today 2-8 Characteristics of Effectively Worded Vision Statements Graphic Paints a picture of the kind of firm that management is trying to create Flexible Is not so focused that it makes it difficult to adjust Feasible Is within the realm of what is possible Directional Is forward looking to change Desirable Indicates why the directional path makes sense Focused Is specific enough to provide guidance in decision making Easy to Communicate Can be explained in simple terms 2-9 TABLE 2. 2 Characteristics of Effectively Worded Vision Statements Paints a picture of the kind of company that management is trying to create and the market position(s) the company is striving to stake out. Is forward looking; describes the strategic course that management has charted and the kinds of product-market-customer-technology changes that will help the company prepare for the future. Is specific enough to provide managers with guidance in making decisions and allocating resources. Is not so focused that it makes it difficult for management to adjust to changing circumstances in markets, customer preferences, or technology. Is within the realm of what the company can reasonably expect to achieve. Indicates why the directional path makes good business sense. Is explainable in 5 to 10 minutes and, ideally, can be reduced to a simple, memorable â€Å"slogan† Graphic Directional Focused Flexible Feasible Desirable Easy to communicate 2-10 TABLE 2. 3 Common Shortcomings in Company Vision Statements Short on specifics about where the company is headed or what the company is doing to prepare for the future. Doesn’t indicate whether or how management intends to alter the company’s current product-market-customer-technology focus. So all-inclusive that the company could head in most any direction, pursue most any opportunity, or enter most any business. Lacks the power to motivate company personnel or inspire shareholder confidence about the company’s direction. Provides no unique company identity; could apply to firms in any of several industries (including rivals operating in the same market arena). Doesn’t say anything specific about the company’s strategic course beyond the pursuit of such distinctions as being a recognized leader, a global or worldwide leader, or the first choice of customers. Vague or incomplete Not forward looking Too broad Bland or uninspiring Not distinctive Too reliant on superlatives 2-11 Concepts and Connections 2. 1 Examples of Strategic Visions—How Well Do They Measure Up? 2-12 Concepts and Connections 2. 1 Examples of Strategic Visions—How Well Do They Measure Up? 2-13 Examples of Vision Statements To be the global leader in customer value. Provide a global trading platform where practically anyone can trade practically anything. Red Hat To extend our position as the most trusted Linux and open source provider through a complete range of enterprise software, a powerful Internet platform, and associated support and services. 2-14 Core Concept Strategic Inflection Points A change in vision is required when it becomes evident to management that the industry has changed in a significant way that renders the company’s current vision obsolete. You read "Case 1" in category "Essay examples" 2-15 The Importance of Communicating the Strategic Vision An engaging, inspirational vision Challenges and motivates the workforce Articulates a compelling case for â€Å"where we are going and why† Evokes positive support and excitement Arouses a committed organizational effort to move in a common direction 2-16 Expressing the Essence of the Vision in a Slogan Nike To bring innovation and inspiration to every athlete in the world The Mayo Clinic The best care to every patient every day Greenpeace To halt environmental abuse and promote environmental solutions. 2-17 Why a Sound, Well-Communicated Strategic Vision Matters 1. It crystallizes senior executives’ own views about the firm’s long-term direction. 2. It reduces the risk of rudderless decision making by management at all levels. 3. It is a tool for winning the support of employees to help make the vision a reality. 4. It provides a beacon for lower-level managers in forming departmental missions. 5. It helps an organization prepare for the future. 2-18 Strategic Vision versus Mission Statement A strategic vision concerns a firm’s future business path—â€Å"where we are going† Markets to be pursued Future product/ market/customer/ technology focus The mission statement of a firm focuses on its present business purpose—â€Å"who we are and what we do† Current product and service offerings Customer needs being served 2-19 Developing a Company Mission Statement Ideally, a company mission statement is sufficiently descriptive to: Identify the company’s products or services. Specify the buyer needs it seeks to satisfy. Specify the customer groups or markets it is endeavoring to serve. Specify its approach to pleasing customers. Give the company its own identity. 2-20 Example of a Mission Statement The mission of Trader Joe’s is to give our customers the best food and beverage values that they can find anywhere and to provide them with the information required for informed buying decisions. We provide these with a dedication to the highest quality of customer satisfaction delivered with a sense of warmth, friendliness, fun, individual pride, and company spirit. 2-21 Examples of Mission Statements To help people and businesses throughout the world realize their full potential. To organize the world’s information and make it universally accessible and useful. 2-22 Strategic Mission, Vision, and Profit Firms sometimes state that their mission is to simply earn a profit. Profit is the obvious intent of every commercial enterprise. Profit is not â€Å"who we are and what we do. † Profit is more correctly an objective and a result of what a firm does. 2-23 Linking the Strategic Vision and Mission with Company Values CORE CONCEPT A firm’s values are the beliefs, traits, and behavioral norms that the firm’s personnel are expected to display in conducting the firm’s business and pursuing its strategic vision and mission. -24 CONCEPTS CONNECTIONS 2. 2 ZAPPOS MISSION AND CORE VALUES Deliver Wow through Service Embrace and Drive Change Create Fun and a Little Weirdness Be Adventurous, Creative, and Open Minded Pursue Growth and Learning Build Open and Honest Relationships with Communication Build a Positive Team and Family Spirit D o More with Less Be Passionate and Determined Be Humble 2-25 Stage 2: Setting Objectives Why set objectives? To convert the strategic vision into specific performance targets To create yardsticks to track progress and measure performance Objectives should: Be well-stated (clearly worded) Be challenging, yet achievable in order to stretch the organization to perform at its full potential Be quantifiable (measurable) Contain a specific deadline for achievement 2-26 Core Concept Objectives are an organization’s performance targets—the results management wants to achieve. 2-27 Stage 2: Setting Objectives (cont’d) What Kinds of Objectives to Set Financial objectives Communicate management’s targets for financial performance Are lagging indicators that reflect the results of past decisions and organizational activities Relate to revenue growth, profitability, and return on investment -28 Stage 2: Setting Objectives (cont’d) What Kinds of Objectives to Set Strategic objectives Are related to a firm’s marketing standing and competitive vitality Are leading indicators of a firm’s future financial performance and business prospects. If achieved, indicate that a firm’s future financial perfo rmance will be better than its current or past performance. 2-29 Core Concept The balanced scorecard is a widely used method for combining the use of both strategic and financial objectives, tracking their achievement, and giving management a more complete and balanced view of how well an organization is performing. -30 TABLE 2. 4 The Balanced Scorecard Approach to Performance Measurement Strategic Objectives †¢ Winning an x percent market share †¢ Achieving customer satisfaction rates of x percent †¢ †¢ †¢ †¢ Increase percentage of sales coming from new products to x percent Financial Objectives †¢ An x percent increase in annual revenues †¢ Annual increases in earnings per share of x percent †¢ An x percent return on capital employed (ROCE) or shareholder investment (ROE) †¢ Bond and credit ratings of x †¢ Internal cash flows of x to fund new capital investment †¢ Improve information systems capabilities to give frontline managers Achieving a customer defect information in retention rate of x percent x minutes Acquire x number of new †¢ Improve teamwork by customers increasing the number of Introduction of x number projects involving more of new products in the than one business unit next three years to x Reduce product development times to x months 2-31 Examples of Financial Objectives X% increase in annual revenues X% increase annually in after-tax profits Profit margins of X% X% return on capital employed (ROCE) Sufficient internal cash flows to fund 100% of new capital investment 2-32 Examples of Strategic Objectives Winning an X% market share Achieving a customer retention rate of X% Acquire X number of new customers Reduce product defects to X% Introduction of X number of new products in the next three years Increase employee training to X hours/year Reduce turnover to X% per year 2-33 Examples of Company Objectives General Motors Reduce the percentage of automobiles using internal combustion engines through the development of hybrids, range-extended electric vehicles, and hydrogen fuel cell electric engines. Reduce automotive structural costs to benchmark levels of 23% of revenue by 2012 from 34% in 2005. Reduce annual U. S. labor costs by an additional $5 billion by 2011. 2-34 Examples of Company Objectives The Home Depot Be the number one destination for professional contractors. Improve in-stock positions so customers can find and buy exactly what they need. Deliver differentiated customer service and the know-how that our customers have come to expect. Repurchase $22. 5 billion of outstanding shares during 2008. Open 55 new stores with 5 store relocations in 2008. 2-35 Short-Term and Long-Term Objectives Short-Term Objectives Targets to be achieved soon Milestones or stair steps for reaching long-range performance Long-Term Objectives Targets to be achieved within 3 to 5 years 2-36 The Need for Objectives at All Organizational Levels Objectives Are Needed at All Levels 1. Set business-level objectives 2. Establish functional-area objectives 3. Set operating-level objectives last Long-term objectives take precedence over short-term objectives 2-37 Stage 3: Crafting a Strategy Crafting a strategy means asking: How to attract and please customers How to compete against rivals How to position the firm in the marketplace and capitalize on attractive opportunities to grow the business How best to respond to changing economic and market conditions How to manage each functional piece of the business How to achieve the firm’s performance targets 2-38 A Firm’s Strategy-Making Hierarchy A firm’s strategy is a collection of initiatives undertaken by managers at all levels in the organizational hierarchy Crafting strategy is a collaborative effort that: Involves managers from various levels of the organization Is rarely something only highlevel executives engage in Requires choosing among the various strategic alternatives 2-39 Concept to Action In most firms, crafting strategy is a collaborative team effort that includes managers in various positions and at various organizational levels. Crafting strategy is rarely something only highlevel executives do. 2-40 Concept to Action Corporate strategy establishes an overall game plan for managing a set of businesses in a diversified, multibusiness firm. Business strategy is primarily concerned with strengthening the firm’s market position and building competitive advantage in a single business company or a single business unit of a diversified multibusiness corporation. 2-41 FIGURE 2. 2 A Company’s Strategy-Making Hierarchy 2-42 Corporate Strategy versus Business Strategy Corporate strategy is orchestrated by the CEO and other senior executives and establishes an overall game plan for managing a set of businesses in a diversified, multibusiness company. Business strategy is primarily concerned with building competitive advantage in a single business unit of a diversified company or strengthening the market position of a nondiversified single business company. 2-43 The Strategy-Making Hierarchy Corporate strategy †¢ Is orchestrated by the CEO and other senior executives and establishes an overall game plan for managing a set of businesses in a diversified, multibusiness company. Addresses the questions of how to capture cross-business synergies, what businesses to hold or divest, which new markets to enter, and how to best enter new markets—by acquisition, creation of a strategic alliance, or through internal development. Business strategy Functional-area strategies †¢ Is primarily concerned with building competitive advantage in a sin gle business unit of a diversified company or strengthening the market position of a nondiversified single business company. Are concerned with the strategies specifically related to particular functions or processes within a business (marketing strategy, production strategy, finance strategy, customer service strategy, product development strategy, and human resources strategy). †¢ Are relatively narrow strategic initiatives and approaches of limited scope for managing key operating units (plants, distribution centers, geographic units) and specific operating activities such as materials purchasing or Internet sales. 2-44 Operating strategies Stage 4: Implementing and Executing the Chosen Strategy Managing the strategy execution process involves: Staffing the organization to provide needed skills and expertise. Allocating ample resources to activities critical to good strategy execution. Ensuring that policies and procedures facilitate rather than impede effective execution. Installing information and operating systems that enable personnel to perform essential activities. 2-45 Stage 4: Implementing and Executing the Chosen Strategy (con’d) Managing the strategy execution process involves: Pushing for continuous improvement in how value chain activities are performed. Tying rewards and incentives directly to the achievement of performance objectives. Creating a company culture and work climate conducive to successful strategy execution. Exerting the internal leadership needed to propel implementation forward. 2-46 Stage 5: Evaluating Performance and Initiating Corrective Adjustments Triggering change as needed: Monitoring new external developments Evaluating the firm’s progress Making corrective adjustments Managing strategy is an ongoing process, not an every-now-and-then task A firm’s vision, objectives, strategy, and approach to strategy execution are never final -47 Corporate Governance: The Role of the Board Of Directors The Role of the Board Of Directors in the StrategyMaking, Strategy-Executing Process: 1. Oversee the firm’s financial accounting and reporting practices. 2. Diligently critique and oversee the company’s direction, strategy, and business approaches. 3. Evaluate the caliber of senior executivesâ€⠄¢ strategy-making and strategy-executing skills. 4. Institute a compensation plan for top executives that rewards them for actions and results that serve shareholder interests. 2-48 Strong Boards Lead to Good Corporate Governance A Strong, Independent Board of Directors: Is well informed about the company’s performance Guides and judges the CEO and other top executives Has the courage to curb management actions it believes are inappropriate or unduly risky Certifies to shareholders that the CEO is doing what the board expects Provides insight and advice to management Is intensely involved in debating the pros and cons of key decisions and actions 2-49 Leading the Strategic Management Process The Strategic Management Process calls for six managerial actions: 1. Making sure the company has a good strategic plan 2. Stay on top of what is happening (MBWA) 3. Putting constructive pressure on organizational units to achieve good results 2-50 Leading the Strategic Management Process (cont’d) The Strategic Management Process calls for six managerial actions: 4. Pushing corrective actions to improve both the firm’s strategy and how well it is being executed 5. Leading the development of better competitive capabilities 6. Displaying ethical integrity and leading social responsibility initiatives 2-51 Making Sure a Firm Has a Good Strategic Plan Responsibility of CEO Effectively communicate the vision, objectives, and major strategy components Exercise due diligence in reviewing lower-level strategies for consistency with higher-level strategies 2-52 Staying on Top of How Well Things Are Going Stay connected to the field by managing by walking around (MBWA) Insist that top managers spend time in the trenches to exchange information and ideas through face-to-face contact with employees Prevent overly abstract thinking and getting disconnected with reality of what’s happening 2-53 Pushing for Good Results and Operating Excellence Fosters a results–oriented, high-performance culture Treat employees with dignity and respect Encourage employees to use initiative and creativity in performing their work Set stretch objectives and clearly communicate expectations Focus attention on continuous improvement Reward high performance Celebrate successes 2-54 Initiating Corrective Actions to Improve Strategy and Execution The leadership challenge of making corrective adjustments is twofold: Deciding when adjustments are needed Deciding what adjustments to make Leader’s responsibility is to step forward and push corrective actions 2-55 Leading Social Responsibility The strength of management commitment determines whether a company will implement and execute a full-fledged strategy of social responsibility that: That protects the environment Actively participates in community affairs Supports charitable causes Supports workforce diversity and the overall well-being of employees 2-56 Displaying Ethical Integrity The CEO and other senior executives must set an excellent example in their own ethical behavior. Top management must declare unequivocal support of the company’s ethical code. Top management must be prepared to act swiftly and decisively in punishing ethical misconduct. 2-57 Leading the Development of Better Competitive Capabilities Lead efforts to strengthen existing competitive capabilities Anticipate changes in customer-market requirements Proactively build new competencies and capabilities that hold promise for building an enduring competitive edge 2-58 How to cite Case 1, Essay examples

Communist Manifesto Essay Example For Students

Communist Manifesto Essay Subject: Jolee and ScarletFrom: Jolee Romano emailprotectedTo: emailprotected, emailprotected, emailprotected, emailprotected, emailprotected, emailprotected, emailprotectedDate: Sun, April 21, 2002 9:54 amJoseph RomanoHow do residents benefit from having a sense of community developed on their floor and in their hall? What will you do to foster that sense of community?I am very grateful to have the neighbors that I have. I have been through a lot of adjusting and they have been very helpful! I know that if I needed a cup of sugar they would be the first to give it to me, just like at home! I ask for advice, they give it to me. I need a laugh, there there! And its just not the people to the left and right of me either. Almost the whole floor! We work together, like a community, to make sure that everyone is in line. We all have responsibilities that we follow. We respect eachothers privacy and are there when someone needs a helping hand! I know if I am a Resident Assistant I will be available to do all these things. Because things work better that way. Hi Guys!These are two more pictures of my roomate Scarlet and I enjoying our first bus ride in Malta. Okay, I promiss this is it with the pics!!! Miss you! Jolee_________________________________________________________________Send and receive Hotmail on your mobile device: http://mobile.msn.com