1what Is An Executive Type What Is Their Significance To Strate ✓ Solved

1) What is an executive type? What is their significance to strategy? 2) What is executive succession? Discuss the hiring of insiders versus outsiders. 3) What are some of the approaches a company can take to identify and prepare its people for important positions?

4) List the guidelines proposed for successful downsizing. 5) What three general practices were identified by Black and Gregersen in companies which do a good job of managing foreign assignments? 6) What are the four general methods of managing two different cultures? 7) What information should an action plan include? 8) What are the four elements of the MBO process?

9) What is TQM and what are its essential ingredients? 10) What are Hofstede's dimensions of national culture?

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1. What is an Executive Type? What is Their Significance to Strategy?

An executive type refers to the individual within an organization who holds a prominent leadership role, typically at the C-suite level, such as CEOs, COOs, or CFOs. These executives are pivotal in shaping the organization's strategic direction and operational performance. Their significance to strategy lies in their ability to make critical decisions that not only affect the immediate functioning of the organization but also determine its long-term viability and competitiveness (Mintzberg, 1973). Executive types typically embody various leadership styles, including transformational, transactional, and servant leadership, each influencing organizational culture and employee engagement differently (Bass, 1990).

Significance to Strategy

The strategic significance of executive types encompasses several aspects:
- Vision and Direction: Executives are responsible for setting the vision and establishing long-term goals (Hamel & Prahalad, 1994).
- Resource Allocation: They make critical decisions regarding resource allocation that can impact the company’s ability to exploit market opportunities or respond to threats (Bower, 2001).
- Change Management: Executives play a vital role in leading change initiatives, fostering an adaptive organizational culture that can respond to external pressures (Kotter, 1996).
- Stakeholder Relationship: They act as the face of the organization, managing relationships with stakeholders, including employees, customers, suppliers, and investors (Freeman, 1984).

2. What is Executive Succession? Discuss the Hiring of Insiders versus Outsiders.

Executive succession refers to the process of transitioning leadership positions within an organization, particularly at the highest levels of management. This process is crucial for maintaining organizational stability and for strategic continuity (Finkelstein & Hambrick, 1996).

Hiring Insiders vs. Outsiders

The decision to hire an insider or an outsider carries significant implications:
- Insiders:
- Advantages: They possess deep organizational knowledge, established relationships, and a clear understanding of the company culture (Krause, 2014). Their promotion serves as a morale booster for employees and ensures continuity in strategic direction.
- Disadvantages: Insiders may bring limited perspectives or be blind to systemic issues due to their long tenure within the same organization (Zhang & Rajagopalan, 2003).
- Outsiders:
- Advantages: Outsiders can bring fresh ideas, new perspectives, and best practices from other organizations and industries (Harris, 2009). Their different background can also catalyze necessary change within a resistant organizational culture.
- Disadvantages: However, moving an outsider into leadership can often result in cultural clashes, resistance from existing employees, and a longer adjustment period (Kaplan, 2011).
A balanced approach often considers the strategic needs of the company and the unique challenges of the industry when determining the leadership path.

3. Approaches to Identify and Prepare People for Important Positions

Organizations utilize various methodologies to identify and develop talent for critical positions:
1. Succession Planning: Incorporating a systematic process to identify high-potential individuals who can assume future leadership roles (Rothwell, 2010).
2. Mentoring and Coaching Programs: Establishing supportive relationships between senior executives and potential leaders to nurture skills and provide guidance (Ghosh & Reio, 2013).
3. Job Rotations: Offering cross-functional experiences allows potential leaders to gain diverse organizational knowledge and build a holistic view of the business (Lombardo & Eichinger, 1989).
4. Leadership Development Programs: Implementing tailored programs that focus on developing strategic and operational competencies necessary for leadership roles (McCall, 1998).

4. Guidelines Proposed for Successful Downsizing

Successful downsizing requires careful planning and execution to minimize negative impact:
1. Consideration of Alternatives: Exploring all options to reduce costs without resorting to layoffs, such as reducing work hours or offering early retirement (Bach et al., 2017).
2. Transparent Communication: Keeping employees informed about the reasons behind the downsizing and how it will be executed (Budros, 1999).
3. Empathetic Approach: Treating those affected with respect and dignity, providing support services such as outplacement (Cameron et al., 1991).
4. Strategic Focus: Aligning downsizing strategies with organizational goals and ensuring minimal impact on core operations (Kets de Vries, 2013).

5. General Practices Identified by Black and Gregersen for Managing Foreign Assignments

Black and Gregersen (1999) identified several significant practices for effective management of foreign assignments:
1. Comprehensive Pre-Departure Training: Providing cultural, language, and practical training to prepare expatriates for life and work in a foreign country.
2. Support During Assignment: Continuing support in terms of integration and adjustment assistance, including family support and counseling services.
3. Re-Entry Programs: Planning for the return of expatriates to ensure smooth reintegration and continuity in the roles they returned to.

6. General Methods of Managing Two Different Cultures

When managing across different cultural frameworks, organizations can employ several methods:
1. Integration: Merging two cultures into a cohesive organizational culture that respects both.
2. Separation: Maintaining distinct cultures within different divisions while minimizing conflict through clear communication.
3. Assimilation: Encouraging one culture to take precedence over the other, often leading to cultural loss.
4. Cultural Awareness Training: Enhancing understanding and respect for different cultural practices among employees (Trompenaars & Hampden-Turner, 2012).

7. Information Included in an Action Plan

An effective action plan should incorporate the following elements:
- Goals and Objectives: Clearly defined outcomes to be achieved.
- Tasks and Activities: Specific actions required to accomplish the objectives.
- Timeline: A clear schedule for when each task will be completed.
- Resources Needed: Identification of the budget, personnel, and materials required for implementation.
- Evaluation Metrics: Criteria to measure the success of the action plan and progress against the goals (Doran, 1981).

8. Four Elements of the MBO Process

The Management by Objectives (MBO) process encompasses four key elements:
1. Goal Setting: Defining specific, measurable objectives at organizational, departmental, and individual levels.
2. Participative Decision Making: Involving employees in the goal-setting process to foster commitment.
3. Performance Monitoring: Regularly assessing progress towards the established objectives.
4. Feedback and Review: Providing constructive feedback, which should guide future goal setting and performance improvement (Drucker, 1954).

9. What is TQM and Its Essential Ingredients?

Total Quality Management (TQM) is an organizational philosophy focused on continuous improvement in performance, products, and services. Essential ingredients include:
- Customer Focus: Prioritizing customer satisfaction as the primary goal.
- Employee Involvement: Engaging all employees in the quality improvement process.
- Process Orientation: Understanding and managing processes to enhance efficiency.
- Continual Improvement: Fostering a culture that promotes ongoing progressive changes (Deming, 1986).

10. Hofstede's Dimensions of National Culture

Hofstede's model articulates several key dimensions of national culture:
1. Power Distance: The degree of inequality in power distribution in organizations and institutions.
2. Individualism vs. Collectivism: The emphasis on individual autonomy versus group cohesion.
3. Masculinity vs. Femininity: The preference for achievement and assertiveness versus nurturing and quality of life.
4. Uncertainty Avoidance: The extent to which members of a culture feel threatened by uncertain situations.
5. Long-Term vs. Short-Term Orientation: The focus on future rewards versus respect for tradition (Hofstede, 1980).

References

1. Bach, S., Kessler, I., & Purcell, J. (2017). Downsizing: A critical review of the literature. International Journal of Management Reviews.
2. Bass, B. M. (1990). From transactional to transformational leadership: Learning to share the vision. Organizational Dynamics.
3. Black, J. S., & Gregersen, H. B. (1999). Participative decision-making: An important influence on expatriate adjustment. Journal of International Business Studies.
4. Budros, A. (1999). The two faces of downsizing: The role of management in the American workplace. Work and Occupations.
5. Cameron, K. S., Freeman, S. J., & Mishra, A. K. (1991). Best practices in white-collar downsizing. The Academy of Management Executive.
6. Deming, W. E. (1986). Out of the crisis. MIT Press.
7. Drucker, P. F. (1954). The Practice of Management. Harper & Row.
8. Finkelstein, S., & Hambrick, D. C. (1996). Strategic Leadership: Top Executives and Their Effects on Organizations. West Publishing.
9. Hamel, G., & Prahalad, C. K. (1994). Competing for the Future. Harvard Business Review Press.
10. Hofstede, G. (1980). Culture's Consequences: International Differences in Work-Related Values. Sage Publications.
Each reference should be appropriately cited in accordance with the source and organizational requirements.