Strategic Management Essay

3903 words - 16 pages

We can make it
A consultation document
Manufacturing 2020
Panel
Contents
Message from the Chairman....................................................................3
What are the Issues? ........................................................................................4
ISSUE 1: REDEFINING MANUFACTURING.............................................................4
ISSUE 2: THE IMPACT OF THE INTERNET .............................................................5
ISSUE 3 - PEOPLE ARE THE KEY TO THE FUTURE..............................................7
ISSUE 4 - MANUFACTURING TO A UNIT OF ONE..............................................8
ISSUE 5 - TECHNOLOGY AND INNOVATION ...view middle of the document...

I agreed to lead it because I believe passionately in the importance of
manufacturing and in the future of the UK as a manufacturing nation.
UK manufacturing represents over 60% of UK exports. Employment, wealth
creation and quality of life all depend, to a large extent, on the manufacturing
base. There are many challenges to be overcome. But if we face up to those
challenges and see them for the opportunities they are, we can create a UK
manufacturing sector which leads the world and is the power house for
national prosperity in the global knowledge driven economy of the future.
We can make it But if we are going to get there we need to start now.
The Panel has identified what we believe to be the key generic issues but we
now need your help in identifying the implications for different sectors and in
developing ideas on what to do about them.
We now want to hear your views on the issues we have identified, and any
others which you consider to be crucial for the long term competitiveness of
UK manufacturing, and on what should be done to tackle them. So that when
we finalise our report we can make clear and positive recommendations for action,
by Government where appropriate, and by business itself.
I look forward to hearing from you.
Nick Scheele
Chairman, Ford Europe
Chair, Foresight Manufacturing 2020 Panel
www.foresight.gov.uk 3
What are the Issues?
ISSUE 1: REDEFINING MANUFACTURINGN
The nature of manufacturing is changing. Where once a business would have
manufactured physical products for a one-time sale, there is now a shift
towards building long term relationships with customers and servicing their
needs around a manufactured product.
Successful businesses in the future will be those which develop and maintain
strategic alliances with customers based on trust and mutual benefit
(see box). This extends beyond sales. It affects research and development,
innovation and new product introduction.
Companies will need to differentiate themselves from their competitors and
increase their appeal to their employees and customers, partners and
employees. Product quality and customer service are critical factors in this
but sustainability and social responsibility will also play a part.
Companies such as General Electric (see box), Dell and Rolls Royce are already
showing the way. But every company in every sector of manufacturing needs
to take the basic message on board.
The service-led firm
The US-based company General Electric has a mission statement to be a servicesled
company based on the supply of manufactured products. GE manufacture
many things, including jet engines. But in this case the company actually sells ‘power
by the hour’ to its customers. This means that it takes responsibility for such things
as maintenance and unexpected breakdowns, which would previously have been
transferred to the customer at the moment of sale.
The customer benefits by getting assured service and being able to...

Other Papers Like Strategic Management

Strategic Management Essay

810 words - 4 pages , increasing operating profits and passenger numbers, as well as growing the number of aircraft and available seats, are just some of the key focus areas for Fiji Airways within this plan. Stefan Pichler, Managing Director and CEO of Fiji Airways, says that this was the first time that a strategic plan for the airline was developed bottom up from the management and with input from its customers, people and stakeholders. “This is our plan, we

Strategic Management Essay

1204 words - 5 pages account item size and weight, shipment sizes, security, loading, unloading, connections and also error management. Like for example, a company that specialize in transportation of minerals from Africa to the United States must bring the product by boat and use trucks and trains to get them to various manufacturers (Kimmons, 2015). Firms are able to do this by making external and internal analysis, identifying strategic opportunities and threats that

Strategic Management

4781 words - 20 pages RGU: Semester 1-3 (2011/2012) Group timetable - ABS(PG) International Tourism & Hospitality Management (Wk 2, wk starting 03/10/2011) 09:00 10:00 10:00 11:00 11:00 12:00 12:00 13:00 13:00 14:00 14:00 15:00 15:00 16:00 16:00 17:00 17:00 18:00 18:00 19:00 19:00 20:00 20:00 21:00 Mo 03 Tuesday 04/10/2011 Lecture, 12:00-15:00, 04/10/2011 Strategic Management in Tourism & Hospitality - BSM552 Martin, Andrew H409 (FOHSC) ABS(PG) ITHM Tutorial

Strategic Management - 408 words

408 words - 2 pages JESSLYNE (090503322) STRATEGIC MANAGEMENT ASSIGNMENT NOKIA CASE STUDY JESSLYNE (090503322) STRATEGIC MANAGEMENT ASSIGNMENT NOKIA CASE STUDY SUMMARY Nokia, once a world leader in wireless telecommunications, has lost nearly 39% of its market share to its competitors and in some instances to no name companies. In 80s and 90s Nokia expanded through the acquisition of many other companies with various technologies. Due to this rapid

Strategic Management - 5392 words

5392 words - 22 pages 1. [BUMGT 3702 STRATEGIC MANAGEMENT] September 24, 2012Nestlé Company 41.0 IntroductionThe most important thing for most of business company is an understanding theirsuccessful performance among the other competitors in market place.For some parties, likeshareholders, it is essential for company to make a profit and gain above-average returns. Inthis assignment, I will discuss furthermore about Nestlé’s external environment in all aspectssuch as

Strategic Management - 3608 words

3608 words - 15 pages LONDON CHURCHILL COLLEGE AABPS Level 6 Diploma in Business Management Studies Title: Unit 3: Principles in Strategic Management Assessor: Submitted By (Student Name): Student ID: Number of words: 2955 Table of Contents Part 01 2 Introduction 2 I) Strategy Setting Process 2 II) Elements affecting the plan 4 iii) Future Directions 6 Part 02 7 2.1) Strategy Implementation 7 2.2) Plan for the Stakeholders. 8

Strategic Management - 1978 words

1978 words - 8 pages . Strengths, Weakness, Opportunities and Threats (SWOT) analysis is discussed to determine how External and Internal factors affect the decisions being made by management. Finally and attempt is made to provide alternatives and a strategy to further the success Apple currently enjoys. So kick back play your favorite song on iTunes, check your stocks on your iPad and make sure to put your iPhone on silent before we start. Apple Computers Strategic

Strategic Management - 2375 words

2375 words - 10 pages EXCUTIVE SUMMARY Marks and Spencer Group plc (M&S) is one of the famous British retailers in the world and the largest clothing retailer in the UK. Unfortunately, M&S did not change their strategic to adapt to a continuously changing economy, so that it suffered from strategic drift. From 2000, Luc Vandevelde and his management team attempt to turn the business around, with M&S’ unique resource and competence. This report

Strategic Management - 5802 words

5802 words - 24 pages Strategic Management Analysis of the strategy of the Strategic Management – Analysis of the Strategy of the Apple, Inc. 15 June 2012 List of contents List of contents …..…..…………………….………………………………….….………… 2 List of figures …………….…….……………………………….…………........................ 3 1. Executive Summary ……………………………………..….…………….….…………. 4 2. Historical development ………………….……..………………..…..……..………...… 4 3. Environmental analysis

Strategic Management - 2611 words

2611 words - 11 pages , can be outsourced. As for pricing and segmentation, Costa Management needs to determine the strategic positioning of the brand. It is not a cost-leader. Either it needs to be an innovator with differentiated product/service or a focused brand in niche market. Management know-how is derived from the fact that Costa Coffee operates 75% of the stores in UK and the remaining is franchised. This has given the opportunity to gain operational

Strategic Management - 942 words

942 words - 4 pages consider all options; implement decisions rapidly 14. Become a learning organization through relentless self examination and continuous improvement THREE ASPECTS OF STRATEGY FORMULATION The following three aspects or levels of strategy formulation, each with a different focus, need to be dealt with in the formulation phase of strategic management. The three sets of recommendations must be internally consistent and fit together in a

Related Essays

Strategic Management Essay 1308 Words

1308 words - 6 pages | TABLE OF CONTENTS | | | |Page No. | | |STRATEGIC MANAGEMENT-DEFINITION……………….… |2

Strategic Management Essay 275 Words

275 words - 2 pages Strategic management analyzes the major initiatives taken by a company's top management on behalf of owners, involving resources and performance in external environments.[1] It entails specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and

Strategic Management Essay 1727 Words

1727 words - 7 pages Question 1 Introduction Louw and Venter (2010:20) explain that strategic management is concerned with the overall effectiveness and choice of direction in a dynamic, complex and ambiguous environment. The success of an organisation is mainly determined by the effectiveness and efficiency of its management. In the words of Peter Drucker, efficiency is concerned with ‘doing things right’, while effectiveness is concerned with ‘doing the right

Strategic Management Essay 681 Words

681 words - 3 pages strategic leader’s work demands decision trade-offs, often among attractive alternatives. - it is important for all strategic leaders & especially the CEO and other members of the top management team to conduct thorough analyses of conditions facing the firm, be brutally and consistently honest, and work jointly to select and implement the correct strategies. 7. Strategic leaders predict the potential outcomes of their strategic decisions