Problem Solution: Harrison-Keyes Inc.
Pearce and Robinson (2004) conclude that when a strategic decision moves from formulation to implementation phase, to make the implementation successful, the manager has to do four things well: a) Identify short-term objectives, b) Initiate specific functional tactics c) Communicate policies that empower people in the organization and d) Design effective rewards. Managers at Harrison-Keyes must scan the environment for issues and challenges, make systematic decisions, and implement solutions that meet the demands of the company's various stakeholders (University of Phoenix, 2006).
The intent of this paper is to examine the Harrison-Keyes' scenario and begin with a situation analysis by providing a summary description of the existing issues and opportunities in the scenario. These issues and opportunities will become the foundation for defining a problem statement that focuses on the future, establishing the desired end-state vision, and identifying a set of end-state goals. These short and long-term goals should be specific, measurable, workable, and reasonable. The short-term goals should focus on maintaining the firm's current strength and position in the industrial electronics parts market. Alternatively, the long-term goals will focus on increasing market share and sustainable growth. In addition, provided is a set of alternatives and an analysis of the potential risks, consequences, and mitigation strategies. In conclusion, the optimal solution is identified, an implementation plan is outlined, and the metrics to be used to evaluate the success of the chosen optimal solution are identified.
Describe the Situation
Harrison-Keyes was founded in 1899 and is a well-known publisher of scientific, technical and ...