scholarly journals Closing the Gap between Graduates’ Skills and Employers’ Requirements: A Focus on the Strategic Management Capstone Business Course

2021 ◽  
Vol 11 (1) ◽  
pp. 10
Author(s):  
Meredith E. David ◽  
Fred R. David ◽  
Forest R. David
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Academic Research ◽  
Strategic Decision ◽  
Previous Theory ◽  
Capstone Course ◽  
Practical Applications ◽  
Proposed Model ◽  
Business Course ◽  
Closing The Gap

Strategic management has long been the capstone course for business majors at most colleges and universities globally. As originally designed, the capstone course sought to teach students an array of skills and tools needed to actually perform strategic planning, primarily through integration and application of functional business concepts and techniques. Times have changed, however, and business schools have come under scrutiny regarding their ineffectiveness in developing graduates’ skills commensurate with employers’ requirements. Such criticism is justified as academics teaching the capstone business course have partitioned their instruction efforts to focus increasingly on theory rather than practical applications. After a pertinent evaluation of current academic research, we illuminate how and why increased focus on practice is needed in strategic-management pedagogy. We delineate how the once well-designed business capstone course has evolved into a course that too often fails to impart practical competencies to graduating students. To facilitate closing the gap between graduates’ skills and employers’ requirements, we present a strategic management pedagogical model designed to promote student learning and development of hard and soft skills related to actually doing strategic planning. The proposed model can help reduce the gap between graduates’ skills and employers’ requirements with the intended purpose to provide increased interest for teaching practical tools that were developed by practitioners. Such tools include the BCG matrix, developed by the Boston Consulting Group, and the Internal-External (IE) portfolio matrix derived from the General Electric (GE) Business Screen developed by Jack Welch, former CEO of GE. The proposed model also reveals the process of including both internal and external aspects into strategic decision making as evidenced by countless organizations performing Strength-Weakness-Opportunity-Threat (SWOT) analyses. The proposed model significantly enhances previous theory-based approaches for teaching the capstone strategic-management course.

scholarly journals Strategic Thinking: The Role in Successful Management

2017 ◽  
Vol 9 (4) ◽  
pp. 44
Author(s):  
Marcelo Amaral Dionisio
Keyword(s):  
Decision Making ◽  
Strategic Planning ◽  
Strategic Management ◽  
Strategic Thinking ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Decision Making Process ◽  
Business Organizations ◽  
Successful Management ◽  
Strategic Process

Strategic thinking and strategic planning are concepts that are not clearly defined both in the literature and in the practice of business organizations and sometimes they are used interchangeably with each other or with strategic management. The purpose of this text is to differentiate and define both concepts and relate their role with the strategic decision making process of a firm. The text ends by approaching the issue of sustainability as a new challenge in the strategic process.

Realization of National Goals in the Proposed Model of Strategic Economic Planning

2019 ◽  
pp. 3-24 ◽  
Author(s):  
R.R. Gumerov
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Russian Federation ◽  
Economic Planning ◽  
Regulatory Framework ◽  
Planning System ◽  
Proposed Model ◽  
The Russian Federation ◽  
State Programs

The article formulates the basic requirements for the ideology of strategic planning and strategic management in the context of current «big challenges». Using specific industries and management spheres as an example, the shortcomings of the ongoing state programs and national projects were demonstrated and a generalized conclusion was drawn that the Government’s practical activities in implementing the Decree of the President of the Russian Federation dated May 07, 2018 No. 204 were reduced to formal changes in the regulatory framework and methodological support, which did not able to ensure the implementation of ambitious national goals. The resulting part of the article formulates some conceptual considerations and specific recommendations for improving the strategic planning system.

Balanced Scorecard in the strategic planning of a construction company

2018 ◽  
Vol 1 (1) ◽  
pp. 1
Author(s):  
Roberth Frias ◽  
Maria Medina
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Balanced Scorecard ◽  
Organization Theory ◽  
Management Control ◽  
Management Tool ◽  
The Balanced Scorecard ◽  
Construction Company ◽  
Construction Companies ◽  
The Impact

This research focused on the strategic management tool Balanced Scorecard and strategic planning, as a guide to guide the management of companies, allowing communication and the functionality of the strategy using KPIs that allow to identify, maintain control and increase efficiency and the achievement of optimal results. For the deductive hypothetical analysis, the specific factors that affect business management performance were grouped into two variables: Balanced Scorecard and Strategic Planning. The objective of the work was to demonstrate the impact of the Balanced Scorecard in the strategic planning of a construction company. In order to support the research, the following theories were approached: the Financial Theory, the Economic Theory of the Company, the Transaction Costs, the Network Theory, the Organization Theory, the Dependence on Resources, the Strategic Management Theory and the Business Diagnosis Theory. The result obtained confirms the hypothesis that there is a significant incidence of the Balanced Scorecard in the strategic planning of construction companies. In conclusion, the construction company has obtained significant improvements in the results in each of the indicators evaluated with the implementation of the Balanced Scorecard, demonstrating improvements in their management results, affirming that there is better performance and management control allowing them to achieve the organizational objectives set.

A Sustainable Approach for Organisational using Strategic Management

2020 ◽  
Vol 11 (2) ◽  
Author(s):  
Abdulla Almazrouei ◽  
◽  
Azlina Md Yassin ◽  
Keyword(s):  
Mortality Rate ◽  
Strategic Planning ◽  
Strategic Management ◽  
Crime Rate ◽  
External Environment ◽  
Police Department ◽  
Public Institutions ◽  
Abu Dhabi ◽  
The Public ◽  
The World

Strategic management have gained popularity in the public institutions to foster good delivery service to the public. The strategic planning enables organizations to establish a strategic match between the internal competency, resources and external environment. Majority of the successful organizations across the world use strategic management and planning as a tool that enables to optimize the operations and achieve maximum productivity with the resources. This paper reviewed on strategic management for organisations in Abu Dhabi especially for Abu Dhabi Police (ADP) force. It presents three strategic management theories which can be adopted by an organisation. This would help the organisation such as police department to reduce the increasing crime rate and mortality rate in UAE.

scholarly journals HR Managers’ Emotions in Strategic Decision-Making Events: Evidence from Croatia

2021 ◽  
Vol 13 (2) ◽  
pp. 845
Author(s):  
Marli Gonan Božac ◽  
Katarina Kostelić
Keyword(s):  
Decision Making ◽  
Problem Solving ◽  
Strategic Planning ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Personal Perspective ◽  
Human Resource Managers ◽  
Organizational Perspective ◽  
Hr Managers ◽  
Experienced Emotion

The inclusion of emotions in the strategic decision-making research is long overdue. This paper deals with the emotions that human resource managers experience when they participate in a strategic problem-solving event or a strategic planning event. We examine the patterns in the intensity of experienced emotions with regard to event appraisal (from a personal perspective and the organization’s perspective), job satisfaction, and coexistence of emotions. The results reveal that enthusiasm is the most intensely experienced emotion for positively appraised strategic decision-making events, while frustration is the most intensely experienced emotion for negatively appraised problem-solving events, as is disappointment for strategic planning. The distinction between a personal and organizational perspective of the event appraisal reveals differences in experienced emotions, and the intensity of experienced anger is the best indicator of the difference in the event appraisals from the personal and organizational perspective. Both events reveal the variety of involved emotions and the coexistence of—not just various emotions, but also emotions of different dominant valence. The findings indicate that a strategic problem-solving event triggers greater emotional turmoil than a strategic planning event. The paper also discusses theoretical and practical implications.

Principles of strategic financial management and their implementation in the information economy

2021 ◽  
Vol 27 (12) ◽  
pp. 2772-2784
Author(s):  
Anna P. GAVRYUSHENKO
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Financial Management ◽  
Systems Approach ◽  
Information Economy ◽  
Legal Doctrine ◽  
Doctrinal Development ◽  
Russian Version ◽  
Management Objectives ◽  
Current State

Subject. This article discusses the general principles of strategic management in relation to strategic financial management. Objectives. The article aims to substantiate and formulate the principles of strategic financial management applicable in the conditions of the Russian version of the information economy, corresponding to the current documents of strategic planning and to the current state of the financial and legal doctrine. Methods. For the study, I used a systems approach, functional and structural analysis, retrospection, forecasting, observation, and classification. Results. The article reveals significant shortcomings of the current strategic planning documents, the lack of doctrinal development, as well as the normative consolidation of general and special principles, which could contribute to solving tasks by strategic financial management effectively. Conclusions. The general principles of strategic management in the economy as a whole are applicable and can be used as the basis for strategic financial management.

Internal and Consulting Information Flows in the Process of Knowledge Accumulation

2019 ◽  
Vol 15 (1) ◽  
pp. 19-36 ◽  
Author(s):  
Wiliam Acar ◽  
Rami al-Gharaibeh
Keyword(s):  
Knowledge Creation ◽  
Practical Applications ◽  
Seci Model ◽  
Top Managers ◽  
Deductive Synthesis ◽  
Proposed Model ◽  
Control Framework ◽  
Recent Developments ◽  
And Control ◽  
Knowledge Hierarchy

Practical applications of knowledge management are hindered by a lack of linkage between the accepted data-information-knowledge hierarchy with using pragmatic approaches. Specifically, the authors seek to clarify the use of the tacit-explicit dichotomy with a deductive synthesis of complementary concepts. The authors review appropriate segments of the KM/OL literature with an emphasis on the SECI model of Nonaka and Takeuchi. Looking beyond equating the sharing of knowledge with mere socialization, the authors deduce from more recent developments a knowledge creation, nurturing and control framework. Based on a cyclic and upward-spiraling data-information-knowledge structure, the authors' proposed model affords top managers and their consultants opportunities for capturing, debating and storing richer information – as well as monitoring their progress and controlling their learning process.

Variable Precision Rough Set Model Based on Covering Relation and Uncertainty Measure

2013 ◽  
Vol 694-697 ◽  
pp. 2856-2859
Author(s):  
Mei Yun Wang ◽  
Chao Wang ◽  
Da Zeng Tian
Keyword(s):  
Rough Set ◽  
Uncertainty Measure ◽  
Probabilistic Measure ◽  
Covering Relation ◽  
Practical Applications ◽  
Variable Precision ◽  
Model Based ◽  
Equivalent Relation ◽  
Proposed Model ◽  
Variable Precision Rough Set

The variable precision probabilistic rough set model is based on equivalent relation and probabilistic measure. However, the requirements of equivalent relation and probabilistic measure are too strict to satisfy in some practical applications. In order to solve the above problem, a variable precision rough set model based on covering relation and uncertainty measure is proposed. Moreover, the upper and lower approximation operators of the proposed model are given, while the properties of the operators are discussed.

A Cognitive Developmental Model of Rigidity in Senescence

1983 ◽  
Vol 16 (2) ◽  
pp. 81-93 ◽  
Author(s):  
Daniel K. Lapsley ◽  
Robert D. Enright
Keyword(s):  
Developmental Model ◽  
Previous Theory ◽  
Developmental Approach ◽  
Proposed Model

The rigidity construct is reinterpreted in terms of the cognitive developmental approach. A review of previous theory and research has revealed both cognitive and developmental themes, with an emphasis on the structural and operational properties of rigidity. Weaknesses of previous approaches to rigidity are noted, and implications and predictions from the proposed model are discussed.

scholarly journals Pragmatics of improving planning and management in the hotel and restaurant business

2020 ◽  
pp. 56-64
Author(s):  
Zinoviy Bryindzia ◽  
Andrii Kulyk
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Initial Conditions ◽  
Planning And Management ◽  
Long Run ◽  
Strategic Factors ◽  
Business Entities ◽  
Questionnaire Research ◽  
Improved Model ◽  
Strategic Perspective

Purpose. The aim of the article is substantiation of expediency of strategic planning of activity of hotel and restaurant business and formation of model of strategic management that will allow to activate potential of subjects of managing and to provide their stable development in strategic perspective. Methodology of research. The authors used empirical, statistical and questionnaire research methods to identify the factors influencing the activities of hotel and restaurant business. It allowed substantiating the stages of business planning and describing their implementation, the formation of an improved model of strategic management, development of proposals for baseline indicators. It is expedient to make decisions on the basis of indicators concerning directions and the purpose of development of business on rendering of services in this sphere. Findings. The reasons for the imbalance of the hotel and restaurant business are analysed and the need for strategic planning and management in this area is substantiated. The stages of planning of hotel and restaurant business are defined taking into account current and strategic factors of its development that will allow to form balance between the realized services and their needs in the market. A model of strategic management of the hotel and restaurant business has been developed, which is focused on the existing social and economic level achieved in this area, resource potential and assessment of the initial conditions and opportunities for development. The main problems of the hotel and restaurant business have been identified, taking into account which will allow to achieve a positive result in the long run and to form a sufficient level of competitiveness of business entities. Originality. The organizational and methodological bases of formation of effective management of hotel and restaurant business which are based on theories of sustainable, competitive and innovative development that will allow to develop various scenarios of business development taking into account current and strategic factors are deepened. Practical value. The obtained results form an important methodological basis for improving the mechanisms of strategic planning and management of hotel and restaurant business entities, as well as allow to form competitive and functional strategies for their development in the long run. Key words: hotel and restaurant business, model of strategic management, stages of planning, business plan, current factors, strategic factors.

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