CORPORATE LIFE CYCLE 5
CorporateLife Cycle and Strategic Implementation
Stagesof a corporation`s life cycle
Industriesand corporate organizations undergo different operational stages,which are used in the definition and determination of a business or afirm’s position at different developmental phases. Corporate lifecycle of a firm or an industry is a description of phases orpositions through which a firm undergoes from establishment, growth,development to stagnation or death (Michael,Ireland, & Hoskisson, 2009).These phases or rather stages include birth, growth, maturity, anddeath.
Eachstage in a corporate life cycle is defined and distinguished byspecific and definite characteristics (Michaelet al., 2009).Google Inc. has undergone and successfully passed two of the phasesof corporate life cycle. The birth stage of a firm is also known asthe startup stage. This stage is characterized by accumulation ofcapital and recruitment of staff. It may also experience financialconstraints. Google was born and founded by Larry Page and SergeyBrin in 1995. During the start up phase, the firm faced criticalfinancial hardships. This prompted the founder to partner with otherindividuals and companies. The company growth stage was characterizedby incorporation in 1998 as well as registration into the IPO marketin 2014.
Strategicimplementation refers to the plans and policies that a firm mustadapt and effectively follow to accomplish corporate goal andobjectives (Hunger,Hoffman, & Bamford, 2015).This process is efficient and conducive especially, when theemployee and staff are incorporated in driving the strategic plan.The motivation of shareholders and implementers of strategicdevelopmental objectives is crucial (Levitt,2016).In Google Inc, members of staff are inspired and motivated to workconsistently to deliver the mission of the company. Propercommunication as well as incorporating the objectives and goals ofthe company in the day to day activities is a big stride in strategicimplementation (Levitt,2016).
Approachesused to identify potential employees
Differentcompanies use varied systems to prepare as well as promote workersand staff. One of the most effective systems used is reasonableperformance appraisal system (Levitt,2016).The system is efficient in identifying the most qualified worker fora given position. Also, some firms have adapted vetting andassessment systems to come up with the most qualified person for aposition. Other methods and systems used include oral presentation,special interviews and vetting, case analysis, and discussions(Hungeret al., 2015).Google Inc. uses performance appraisal as well as oral presentationto identify potential employees for a given position.
Organizationalculture and policies should support and enhance the implementation oflaid out strategies. The manner or degree of dedication of staff andworkers in a firm directly influences the success in theimplementation of organizational strategies. A firm’s culture isdefined as the way or the manner in which the management and staffapproach the strategies and objectives of the firm. It is the corevalues through which an organization is ran. Organization cultureshould act as the pivot point through a firm holds in efforts todrive and implement formulated strategies. For instance, Google Inc.is known for its wide range of advertising and marketing strategies.The company uses a dynamic system in marketing and public awareness.The marketing strategies are driven by the Google organizationalculture and values. Google is dedicated in efforts to availinformation and interaction to its consumers. The company investsmuch in technology advancement and research. The staff and workersare motivated hence, uphold the company culture in theimplementation of marketing and developmental strategies (Levitt,2016).
Companiesand corporate firms use a wide range of methods and strategies toeliminate negative customer speculations as well as enhance theimplementation of organizational strategies. According to Hungeret al. ( 2015), sixsigma is one of the most adapted methodologies in most firms. The sixsigma management method uses data analysis and records to predict themarket as well as make management and production decisions. Themethodology is applicable to both new and running strategies. Thisapplication is enabled by the use of two distinct and specific submethods, DMAIC and DMADV.
Implementationof six sigma process within an organization provides a wide range ofadvantages including improvement of consumer loyalty, positivelyenhance time management, enable strategic planning andimplementation, useful in management and monitoring the demand andsupply chain as well as increase employee motivation (Hungeret al., 2015).
Hunger,T., Hoffman, J., & Bamford, A. (2015). CorporateGovernance. In Concepts in strategic management and business policy:Globalization, innovation, and sustainability.New Jersey: Pearson Publishers.
Levitt,T. (2016). Exploitthe Product Life Cycle.Retrieved august 8, 2016, from Harvad Business Review:https://hbr.org/1965/11/exploit-the-product-life-cycle
Michael,A., Ireland, R. D., & Hoskisson, R. E. (2009). trategicManagement: Competitiveness and Globalization.South-Western College Publishing.