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MGT4023 Strategic Management
Question:
Instructions:
ABC Solutions is a traditional company (in an industry of your choice) with a combined workforce of 150 staff. Due to increased levels of competition, this company is now increasingly finding it difficult to compete – especially as the larger companies seem to be a little more innovative, agile and responsive to client requirements.
Management have noticed that staff, especially the highly skilled ones, are now leaving the company to seek work elsewhere (in these larger companies). This has meant appointing new staff and undertaking a considerable amount of re-training to replace those that have left the company. Apart from impacting on core business operations, ABC Solutions has started witnessing a drop in its profit margin.
Given this position, senior management at ABC Solutions have decided to implement a performance measurement tool (PMT) that would allow them to align the strategic, management and operational requirements of the business.
They are therefore considering the adoption of the Balanced Scorecard (BSC) or Performance Prism (PP) tools to improve on the overall business performance. However, this is completely new to them (and they have never done this before).
As the newly appointed project manager for ABC Solutions, management would like you to write a report advising them on:
- Why they should move from the current traditional approach to an innovative performance measurement approach. 20 marks
- The rationale for choosing either the Balanced Scorecard or Performance Prism; 40 marks
- How the performance measurement tool you recommend in (2) above could be used to improve the overall business performance of ABC Solutions. 25 marks
15 marks will be awarded for overall presentation-demonstration of research/analysis and communication skills; quality of the introduction/conclusion; quality of references using the Harvard style and free from plagiarism.
In your report, you can make assumptions including the following:
- The business strategy of the ABC Solutions.
- The overall business performance of ABC Solutions.
- Identification and categorisation of the performance measures in chosen PMT.
Learning Outcomes Assessed (from the Module Descriptor, available on Blackboard):
- LO1 Demonstrate critical knowledge and understanding of core business drivers and strategic decision-making processes with respect to project problems in complex and unpredictable situations (and their potential impact on the core business), including the application of robust, viable, and defendable solutions;
- LO2: Critically appraise Organisational and project environments, and be able to demonstrate advanced project management competence using innovative applied techniques to assess, manage and control project variables (micro and macro) throughout the project lifecycle;
- LO3: Demonstrate in depth understanding of internal and external information management systems and processes, and be able to apply advanced cognitive skills to provide considered solutions, especially in contextually diverse collaborative environments;
- LO4: Critically evaluate the concepts and theories of project financing and funding, cognisant of: bidding strategies and global business drivers, fiscal drivers and KPI’s, decision-making techniques, procurement routes and production/project planning methodologies
MGT4023 Strategic Management
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