My Path to Success Essay Example

My Path to Success Essay My Path to Success Growing up, I had spent a lot of my time building and creating different structures with Lego sets and seeing what crazy extravagant model I could create next. My Father was always proud of me and thought of me being an engineer after seeing each Lego model that I had created. The influence of my father led me to believe that engineering would be as easy as a Lego set and therefore, I started out with my major as engineering. Though, now that I know what I want to do, engineering is out of the question. I researched and sought out what I want to do with the rest of my life. I ant to be a geologist. There is not very much that stands in my way on my path to success. I mean of course there is still a lot of college hours I need to acquire, but with time and effort I believe I will get those hours slowly and surely. Money is always another issue cause, no surprise, college is expensive, but I have financial aid and that gives me plenty of extra money I need for text books, living expenses, food, and other necessities needed to help me get through this time in my life. My life at my apartment with my three other roommates is quite the experience. We will write a custom essay sample on My Path to Success specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on My Path to Success specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on My Path to Success specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Sometimes my roommate and his irlfriend get into rough arguments and verbally fght but usually it doesnt last long, and if I am studying I can usually Just tone them out. One of my roommates is actually pretty good at math so he helps me out sometimes when he gets the chance to. So, what I need to do to achieve my goal is to continue living life and living up to my responsibilities. There is not a lot I cant handle and I believe that I will reach my goal to become a geologist with time and effort. We must use time wisely and forever realize that the time is always ripe to do right. Nelson Mandela

Strategic Management; McLaren group The WritePass Journal

Strategic Management; McLaren group Executive Summary Strategic Management; McLaren group ). Cross Sector Diversification Cross sector diversification occurs when a firm enters into business within a different industry which has a similar value chain as of its core business (Charles et, al. 2010). McLaren also ventured into cross sector diversification by entering into a marketing and advertising business. Similarly, its venturing into the event management and hospitality industry also qualifies for cross sector diversification. Both these businesses share the same value chain as of McLaren’s core racing business to some extent in that they both cater the internal demands of McLaren Group and serve its own customers. McLaren marketing overlooks the group’s marketing activities apart from operating as a separate entity while Absolute Taste (McLaren’s hospitality and event management business) caters the Group’s customer at formula one event along with serving other high-end customers globally. Unrelated Diversification Unrelated diversification occurs when a firm enters into a new business in a different industry than that of its primary business through which it does not aim to achieve any value chain synergies (Charles et, al. 2010). McLaren, diversification into applied technologies can be categorized as unrelated diversification in that this business engages an entirely different value chain in terms of suppliers, production, and customers. This business involves developing groundbreaking technologies for the field of sport, medicine, biomechanics and entertainment (McLaren, 2013). It is worthy to note that this business does benefit from McLaren’s overall technical know-how in providing improved technological systems and solutions and therefore it cannot be definitely termed as unrelated diversification. Historical Perspective on Corporate Diversification From 1950s to 1970s There was an era when there were only a few companies selling similar products within a particular market, while the demands of the customers were relatively simple and less sophisticated. At that time, the phenomenon of strategic management was neither popular nor deemed a critical element for business success. This was the case throughout the first half of the 20th century (Orcullo, 2007). In the following two decades, there was an emphasis upon several principles of management, which were deemed equally applicable across various industries and businesses. Throughout 1960s and 1970s, the simple faith in general management skills justified virtuous circle of corporate growth and diversification. Robert Katz noted in that regard that: We are all familiar with those professional managers who are becoming the prototypes of our modern executive world. These men shift with great ease and with no apparent loss in effectiveness, from one industry to another. Their human and conceptual skil ls seem to make up for their unfamiliarity with the new jobs technical aspects. (Goold and Luchs, 1993) Hence, during 1950s and 1960s, it was widely opined that any business with a relatively effective management could venture into any other related or un-related business solely based upon its managerial resources. Throughout this period, McLaren was simply focused upon its primary business of formula one racing. From 1970s to 1980s According to Orcullo (2007), the notion of strategic management only became popular and well known after the 1970s. Strategic positioning and market competition implied that firms were now under increasing pressure to grow and diversify in order to sustain and thrive in the changing business environment. Concurrently, there was a realization during 1970s and 1980s that different businesses had to be managed differently (Goold and Luchs, 1993). This view encouraged businesses to undergo main related-horizontal diversification so that a firm’s new undertakings may share the exact sources of synergies such as market, operational and management fit. At this time, McLaren strategized to expand into mass car market which closely shared the sources of synergies with McLaren’s racing team. 1990s and Onwards During the late 1980s and 1990s, management literature introduced new themes such as core competencies and management dominant logic view and business synergies. These themes further emphasized on achieving synergy through diversification and venturing into businesses which were directly or indirectly related to the core competencies and fell within the dominant management logic of the company (Goold and Luchs, 1993). Coinciding to these corresponding business views, McLaren was expanding in some of its current businesses during this time which are all either directly or indirectly related to its core competencies and create synergy for the McLaren Group. References Ansoff, I. (1957) Strategies for Diversification. Harvard Business Review. Vol. 35 Issue 5. Carroll, L. (1941). Through the Looking-Glass. The Heritage Press . New York, p. 41. Charles E.,   Bamford, G. and West, P (2010). Strategic Management. Cengage Learning. Goold, M. and Luchs, K. (1993) Why Diversify: Four Decades of Management Thinking. Academic of Management Executive. Vol. 7 No. 3 Johnson G.   Scholes K.   Whittingham W. 2008. Exploring Corporate Strategy. 8th edition. Prentice Hall McLaren (2013) Vodafone McLaren Mercedes. Available from mclaren.com/formula1/page/mclaren-group (cited on 8th, March, 2013) Orcullo, N. (2007) Fundamentals of Strategic Management. Rex Bookstore, Inc. Porter, M.E. (1979)  How Competitive Forces Shape Strategy,  Harvard Business Review, March/April 1979. Porter, M. E. (2001) Service Operations Strategy. Harvard Business School Porter. M.E. (2008). The Five Competitive Forces that Shape Strategy. Harvard Business Review, January 2008, p.86-104. Van Valen, L. (1973) A New Evolutionary Law   in Evolutionary Theory, p. 1-30. William, T. (2009).   McLaren  Ã¢â‚¬â€œ The Cars 1964–2008. Coterie Press.

MBA SUBJECT corporate strategy exam case study .plz find the case

MBA SUBJECT corporate strategy exam .plz find the on KPN surviving the crisis in the telecommunication industry and answer the following question - Case Study Example Diversification strategy is a completely different strategic option as the company would usually diversify its products, competencies into completely different regions. There is high risk in this strategy but the returns are also high as well. In relation to the KPN case study, it is observed that the company had chosen to use product development and market development as their new strategic option. KPN chose the aforementioned two strategic options for many reasons. Firstly, the company wanted to focus on their core competencies and dispose of their non-core assets. Secondly, the external factors of change such as privatization, deregulation, technological developments and growth in mobile communications compelled the company to diversify its activities in different markets using new products. In response to the aforementioned changes, the company first chose the product development strategy by developing new products in the area of mobile and internet for its existing customers such as private individuals, small business and big corporations who were on the verge of changing in terms of expansion with the need of new technologies in telecommunications. The advantage of using this strategy was that KPN now had a clear direction on which it could focus and gain market share by introducing better technology for retention of its customers. As the market grew, the company took its product development strategy in the global arena which turned its strategy into the market development strategic option. The reason for doing so was that many corporations big and small were now playing on the global field with requirements such as just in time deliveries, enterprise resource planning systems and fast telecommunications. The advantage of using market development strategic option was that the company now had broad base of customers in different countries rather than just relying on its