YTL Organization Berhad is one of the major companies listed on the Bursa Malaysia, and as well as its six outlined entities has a mixed Market Capitalization of about RM 34. 3 million as at 30 Sept 2010, the company has a complete advantage of over RM45 billion. The major business bears out by YTL Company included power era, structure contracting, property development, hotel development and management, cement manufacturing, way to obtain drinking water, treatment and removal of waste water, and incubating and advisory services for internet businesses.
Products and Services
YTL Concrete Berhad supplies cement products and concrete products, quarry products and provision of related services to the constructions sector. YTL Concrete is Malaysia's largest company of ready-mixed cement, through its subsidiary Buildcon Concrete Sdn Bhd & C. I Readymix Sdn Bhd. The business currently performs more than 50 batching vegetation throughout Peninsular Malaysia. YTL Cement Berhad is also the next largest cement place in Malaysia, with concrete production capacity of 1 1. 2 million tonnes per annum in Pahang; 3. 4 million tonnes per annum in Perak; and a Clinker and Blast Furnace Slag Grinding Crops at Westport, Klang, and Pasir Gudang, Johor, each of 500, 000 m/t per annum capacity. YTL Corporation likewise have a a lot of luxury hotel in various country. Besides, YTL Organization also holds out property development activities. YTL has built up excellent and high quality of properties such as real estate with attractive and progressive designs.
Channels of distribution
This is defined as an intermediate string; each chain is passed down to the next organization's product, that we finally reach the buyer or end user. This process is recognized as the "distribution chain" or "channel". Beginning with the start, the YTL Company has only products the cement production to the complete buyer. When the YTL Company gets the profit again, they have enough capital, and then the company starts off to grow their business composition. They start to supply generation, development contracting, property development, hotel development and management, concrete manufacturing, way to obtain water, treatment and removal of waste water, and incubating and advisory services for internet businesses. They sell this product to Tenaga National Berhad(TNB), hotel, building industry, hardware store and customer. This may keep their products on the market flow and presence.
Level of Technology Used
YTL Cement is the major ready-mixed concrete company in Malaysia, with over 500 mixers. YTL Concrete has over 70 batching vegetation and a fleet of 700 cement trucks, functioning throughout Malaysia. YTL Firm undertakes IT and e-commerce technology in their business.
YTL Firm is monitored by an experienced Board with a wide and varied selection of expertise. This broad filled with skills and experience can ensure that the YTL Firm is under the assistance of an responsible and competent Board. The Directors recognise the key role they play in charting the proper direction, development and control of the YTL Corp Group and have used the six main responsibilities as detailed in the Code, which facilitate the release of the Board's stewardship duties. The Board currently has thirteen Directors composed of nine executive associates and four non-executive associates. The positions of the Professional Chairman and the Managing Director are held by separate customers of the Mother board. The Professional Chairman is generally responsible for the orderly do and working of the Plank, as the Managing Director oversees the running of the business daily, implementation of Mother board guidelines and making of functional decisions. The Managing Director and the Exec Directors are responsible to the Table for the profitable operation and development of the YTL Company, consistent with the primary aim of improving long-term shareholder value. The existence of Individual Non-Executive Directors brings an additional element of balance to the Table and these Indie Non-Executive Directors have the knowledge to transport sufficient weight in the Board's decisions. The differing tasks of Executive and Non-Executive Directors are delineated, both having fiduciary tasks into the shareholders of the business. Executive Directors have a primary responsibility for business functions whereas Non-Executive Directors have the required skill and experience to bring an unbiased judgement to carry on issues of strategy, performance and resources brought before the Table. The Professional Directors are responsible for the YTL Organization operations as well as for making certain strategies proposed by management are fully discussed and examined, and take consideration of the permanent passions of shareholders, employees, customers, suppliers and the countless communities where the YTL Firm conducts its business.
Why the YTL Company become the second major of the Bursa Malaysia. It is because the talents of YTL Company are when the buyer need big amount level of products, YTL Company can supply and cover the quantity of the products. This is because a few of the places and store are insufficient products. But YTL Company can also supply enough quantity of products to buyer. And the company of the sales flow is big, to allow them to prevent the lack of products appear.
The weakness of the YTL Company is YTL Company got enough capital to expansion their hotel and hotel, but the way is not enough place to development the building and when build the building, will influence the environment not far from the residents. Now the land is let many landholders pushed in the land price, so all the landholders contain the rent and dun want sell to other. This is actually the way that YTL Company encounters of the weakness.
The first company to expose turnkey construction into Malaysia.
The first Malaysian company to utilize non-resource local financing to fund a high-speed rail project.
The first Asian company to issue a Zero-Coupon Euro-bond.
First Independent Vitality Company in Malaysia.
The first non-Japanese Asian company to list on the Tokyo Exchange in yr 1996.
YTL is one of Malaysia's best maintained companies; YTL Company has earned numerous honors and come out tops in various surveys over the years, including honours form 'The ASIAN Economic Review', 'Asia Week', 'CIO Asia' and many more honours. YTL Corporation's most recent accolades originated from 'Finance Asia' mag, when it was highlighted under the categories 'Most Committed to Corporate Governance'. 'Best Financial Management' and 'Best Managed Company'.
As finish, different company and administrator might have different management skill. The way how a supervisor plan, organize, lead and control through the company sometime might different compare to the real life principles and theories.
YTL corporation director plan how to achieve the vision and the mission of the business. The director also analysis the situation of the company and control the employees to achieve the aims and goals.
In arranging process, the YTL Company organizes the work position and arranging structure of the business. Besides, it also concerns the system ongoing in the business such as the finance office system and what they do in the company.
In leading, the YTL company director led their workers to achieve certain objectives. Controlling
Finally, we come to the previous management process and functions. The final activity manager perform is managing. Manager should monitor activities to ensure they are accomplished as designed. After estimating the near future conditions and circumstances of his company, making decisions based on these estimations about what work is to be done, the composition of human relationships among positions plans determined, and people chosen, trained and encouraged, something may still be inappropriate. But the temptation may be great, reducing standards to what has been attained is not a treatment for performance problems. Alternatively, a manager does need to lower specifications when they are located to be unattainable credited to resource limitations and factors external to the business enterprise. Therefore, to ensure that everything 're going progressively as they should. Corrective action is essential when performance is below criteria. If performance is anticipated to be below requirements, preventive action must be studied to ensure that the challenge does not recur. If performance is greater than or add up to standards, it is useful to bolster behaviours that resulted in the appropriate performance. A supervisor should also screen the organization's performance. The appearance of any significant deviation requires that the administrator get the organization back on the right track.
Control process is cyclical, which means that it will never end. Therefore brings about control through the establishment of performance standards need to solve new problems to recognize, assess performance. Employees often view handling negatively. Because of its very character, often contributes to behaviour change management control of personnel expected. No matter how positive changes can for the organization, employees can still view these negative influences. Control is both expected and retrospective. This technique is likely to issue and take preventive options. And corrective action, the process also implemented on the issue. Ultimately, each person's opinion is the duty of the business or her control. Organizational culture should prevent a person walking from a little, easily solvable problem because "it isn't my responsibility. " Client-oriented businesses, each worker concerned about every customer. In quality powered dairy farms, for example, each worker concerned about pet animal welfare in each of deterioration of every piece of equipment. Control is the management functions related to each other. Control predicated on the planning, firm and command.
Managers may use one of the three control strategies or styles, or the mixture of: market, bureaucracy and clan. Each provides a different purpose. External forces make up for market control. If you do not achieve the required control of external forces, managers can turn the inner bureaucratic or clan control. The first budget and rely mainly on rules. The second is relying on to meet the commercial value of sensing area of the sociable needs of their employees. Self-control, sometimes called the democratic control, is complementary to the market, bureaucratic and clan control. Through training and pushing individuals to participate in the initiative to solve their own problems, but can cause a sense of personal capacity. This vitality of self-control takes on. Self-management will help increase the value of organizations and people a sense of business. Effective control system has been around business whatsoever levels of the characteristics of control. In addition, this also accepted the decision of those who will perform. Flexibility, reliability, timeliness, cost-effective, easy to comprehend the will also appear in the effective control system. The total amount between objectivity and subjectivity will coordinate with the planning, organization and leadership.
Managers expect people within an organization to change their behaviour in response to control. However, employee resistance may easily make control initiatives dysfunctional. The behaviours demonstrate means where the manager's control efforts can be frustrated. First, control is similar to doing offers which suggest something to be beaten, a casino game between the "manager and me and I want to win. " It will also resisting control in case a "blue flu" a reaction to too much control. Furthermore, providing inaccurate information lack of knowledge of why the info is necessary and important resulting in "you want amounts, we will provide you with numbers. " Pursuing guidelines to the notice, people pursuing dumb and unprofitable rules in reaction to "do as I say. " Finally, sabotaging can be stealing, discrediting other personnel, chasing after customers away, and gossiping about the organization to people in the community. Playing one administrator off against another it shows that exploiting insufficient communication among managers, asking a second manager if do not like the answer from the first administrator.
Management controls must be used to stabilize the employee performance and work place. Control is obviously regarded as a negative conditions, because the employees feel restricted. However, the benefit of everyone on the control, no control of the business would be chaos. In my own corporation, management and maintenance through the development of clear rules for the control of every employee must abide by. "Managers expect people within an organization to improve their behaviour in response to regulate. Since I and my fellow workers we are an unbiased contractor's work has the capacity to choose their own timetable. Management should arranged the time table into 70% or easier to control the surroundings to make everyone adhere. When the builder to meet their commitments, their pay bonuses and rewards. Prior to the implementation of policies, performance is low because the performance of this control has increased considerably in place.
For YTL Company the manager managing the performance or work benchmarks. It helps director to estimate the consequence of a job and can correcting the problems before it becomes a significant consequence. The performances of YTL Company are financial performance, sales reports, production results, client satisfaction studies and etc. Administrator measured the attitude and morale of working and the communication with personnel and superiors. Supervisor also need to understanding and getting combined with the other folks so that he / she will not get in trouble with the staff and cause the skilful employees to give up or transfer. The manager also analyzes the possible effects of the decisions utilizing the external forces make up market control. He or she must identify new market opportunities and dangers.
Compare to YTL Company, that is a bit different. YTL Organization administrator control more about the shows of financial, sales, development result and customer satisfaction. However, just how of managing is more matter about the employee's attitude, the process and the way they work in the company, the partnership between subordinates and staff. It is because to avoid the employees didn't give any contribution to the company and did not accept responsibility with their work. Besides, it also control buttons the morale of employees which may prevent the disputes and disagreement of employees.
the romance between subordinates and staff. With this, it may form a good environment for the staff member to work.
The previous process in handling. YTL Company controls their employee attitude. Besides, the director also handles the financial, sales and production of the company. This is to prevent any loss will be occurred in the business, so that the company might earn big amount of earnings.
Leading is this issue of motivating employees is really important to professionals and supervisors. To motivate employees, we should start motivating ourselves first. If you are enthusiastic about your task, it is a lot easier for others to be too. Also, if you are doing a good job of caring for yourself and your own job, you should have much clearer perspective about how others are doing in theirs.
You can make their day or break their day. As the manager, you are the most powerful element in employee's inspiration and morale. Your effect on employee inspiration is immeasurable. From your words, your system language and appearance on that person, you telegraph your thoughts and opinions of these value of people you employ. You must take the business lead first. Use simple powerful motivational words to demonstrate that you value people by declaring 'please' and 'thank you' and 'you are performing a good job' you may make their day positive staff desire and morale. Start the day off right. Since, walk tall and confidently. Walk around your work area and greet people. Talk about the goods and anticipations for your day. Allow employees know that today is likely to be a great day. Of start with you, you may make their day.
For employee determination, you must make sure people know what you expect. Being a manager, you must have clearly express down the work objectives, members needed, report dear lines and the requirements so that the employees do not received another manage. Ensure you get feedback from the employees which means you will know she or he understand what you need. Show the goals and known reasons for doing the task and job. Of you must make a change midway through a task or project, notify the employees why the change in needed, inform them all you know. They would like to know when they have done a task well and when you are disappointed in their results. They want this information as soon as possible following the event. They have to use you to make certain that they create a positive outcome the next time. Set up a daily or weekly routine and make sure responses happens. This is an effective tool in building worker determination and morale.
As a manger you can continue learning and trying out new ideas for staff inspiration. Use whatever access you have to education and training. Have an interior trainer or seek classes from another consultant, an exercise company or a college or university. Most people want to learn and develop their skill at work. No matter what their reasons are: a promotion, different work, a new position or a management role employee appreciates your help. Encourage experimentation and taking sensible risk to build up employee skill. Become familiar with them in person. Make a performance development plan with each individual and make sure you help them perform the plan. Hold regular meeting to share information, gain ideas for improvement and train new policies. Maintain focus groups to gather input before utilizing procedures that affect employees. To effectively lead a work group, team or unit, you must take responsibility for your activities, the activities of people you lead and the success of the goals that are yours. Show determination by pursuing through on your guarantees.
To motivate the employees, we focus on good people, construct rules communicate and pay back them with good pay and bonus products to the people who are worthy of them. Today, people must understand why they will work hard. Every specific in an company is determined by something different from each other. On motivating people, you are got to engage their imagination and their hearts. For instance, by enjoyment or insurance firms productive ideas to make others feel engaged. Determination is the art of setting people to do what you want to do because they would like to do it. Everybody would like to be someone. The thing you as a manager want to do is to provide them confidence just as much as you can.
Whatever your individual reasons that you are working for, underneath line however is that everyone works for money. Whatever you can it: - compensation, salary, houses, advantage or remuneration, money pays by expenses. Of provide property, provides children clothing and food, send these to college and finally retirement. So reasonable gain and pay are the cornerstone of a successful company that recruit and retains committed staff. To draw in the best employees, you will need to pay more than your average paying counterpart on the market place.
Show determination by 'pursuing through'' on your promise. Follow up on mines and review job regularly to ensure you have done all you will keep an vision on projects so as to brain off problems.
As a director, in order so that you can stimulate your employees you'll want positive mental attitude. Condition your mind to reject negative attitude to route your mental energy. A commitment to positive attitude will bring about that relaxed countenance that lots of successful leaders display.
Show disciplined to your employee by setting an example. Always arrive early for meetings. This demonstrates you are disciplined and respect other's time.
Strength and courage on the face of adversity is crucial. Be determined to face it off when facing with any troubles or problems. People will respect you more if you show courage.
The leading challenges are to help individuals identify potential area of development also to measure the effectives. Additionally it is one's ability to deal with daily environment requirements and pressure and helps anticipate one's success in life including professional and personal pursuits. It also helps us to comprehend the bond between feeling and one's abilities to lead. Leaders execute a eye-sight by motivating, umpiring, hearing, guiding, and persuading others.
The challenges in leading are that people can proactively build up relationship with a wide network of individuals. To regularly articulating our eyesight and influencing our employees. Being a head, we can umpire ourselves yet others and also building a culture that sustain urgency to make the vision a reality. We are able to also continually looking for new ideas, developing, motivating, embracing change and inviting opportunity.
Combined with comprehensive pressures and the frequent need to change and change the demands to strong management at every degree of a business one eventual to its strategic position, effectives and success.
In YTL Company, the manager led or motivates their workers in the company to accomplish some plan or let their employees perform using tasks. Besides, the director also resulted in the morale and patterns of the staffs. YTL Firm aims to help make the staffs having a high morale and good efficient while employed in the company. In order that, the company only is capable of doing well because of the good relationship between subordinates and personnel. Besides that, YTL Organization led the business to achieve their company objective and eye-sight. By facing any troubles and problem, the director will find a fresh idea or certain ways to resolve the challenge or having self-confidence to combat with the problems given.
Compare to the principles and ideas, YTL company supervisor matter more about the performance of the employees in the business. Same as just how of leading, the administrator resulted in make the personnel be in high morale and good attitude. So, the director can led their employees to attain certain goals in the company.
Organization is one of the management functions, such as planning. It is a function of the synchronization and human, material and financial resources, the combination took place. All three resources are incredibly important to get results. Therefore, the business features help achieve results that are in fact very important to the operation concerned. Regarding to Chester Barnard, "Managing is a function where the concern is able to specify the role positions, the careers related and the co- ordination between expert and responsibility. " Therefore, professionals always want to get prepared results.
Organizing function has four pursuing steps. First is recognition of activities. All activities must be conducted in a question for the very first time that. For example, the preparation of the accounts, make sales, record keeping, quality control, inventory control, etc. All these activities are grouped and labeled as a unit. Second is departmentally managing the activities. In this step, managers want to bind to the departments and products or similar teams and related activities. That is divided into split units and department to the whole organization is named departmentation.
In the 3rd steps is classifying the specialist. Once the departments have made, Managers like the energy and range of the category managers. This gives a kind of management positions in the list of the amount of activity is called. Older management to coverage formulation, the low the guidance and management of mid-level to the foreman's guidance and management. Clarify issues in the benefits of the power efficiency of the assistance. This can help in achieving the operating efficiency of a problem. This helps to avoid enough time, money, energy misuse, to avoid duplication or overlapping of efforts, which helped gentle the intro of the task concerned.
And the last step is co-ordination between authority and responsibility. Relations derive from different groups in order to achieve organizational goals toward easy interaction. Everyone understands by his specialist, he or she know they have to take orders and to whom they must are accountable to them. A clear organizational structure is developed and everything staff is made aware of this.
When it comes to business leaders, the most important aspect is the management of the organization functions. Actually, the correct implementation of the organizational functions of management can make a business success or failure. Absence of sound system, relating to the management of organizational functions, the companies can easily end up belly up and bleeding red.
Unfortunately, many business owners do not spend plenty of time to consider the organization's management functions. Furthermore, when it comes to business planning and the like, short amount of time is spent on an overview of the business, taking into account management features. That is crucial, a business management training and well versed in the functions of varied organizations. Historically, these kind of concepts taught in universites and colleges. However, to a large degree, many colleges have discontinued at least to some extent, the training organization like the target.
Management organizations function of the level of many businesses. First, the organization's management function addresses the way the person with the business to communicate, who studies to whom, firm graphs, lines of expert. All of these are staff management and organizational functions of management within the business takes that semester on.
Financial planning and budgetary concerns also participate in the organization's basic management topics. Professionals need the plug and the business utilized by them during the budget out familiar. They have to understand the business of spending and budget priorities in order to fully understand how to allocate company resources to guarantee the maximum profit at the end.
Internet also does provide a variety of organizations looking to get more management functions, and how it is any enterprise's overall business model associated with an important part of the useful information for anybody interested.
Now we talks about the top of organisation. Folks who organized business are much better than the disorganized individuals. Precisely the same holds true the planned sector or enterprise. Managers who are able to master this pleasure of the organization function more efficiently in the management of the term of office location.
For example, the engineering enterprise organizations should do to ensure the smooth improvement of the task a whole lot. Subcontractors, construction managers and building materials must be received by organizations for every. Scheduling prior to the arrival of products, the introduction of a carpenter, is counterproductive, and displaying too little organization. In the current situation, there is a specific order to the job, which is in any other projects the true situation. Manager that has a staff prepared to check out it and the organizations and the battle. Managers who take really functions of the business to consistently update their plans will therefore be successful at work.
Organizing is obviously occurs continuously. Organization is most managers' daily, every week, annual task. In today's fast-paced business world, things change quickly, the change occurred. Managers must understand that it was the composition of the stream, never change. Flexible management the capability to change course and even when necessary to meet customer needs. Change is inevitable. For the frequent changes of business experience, the business function is essential. Such as adding new careers or eliminate a few of the organizational change process can transform the particular level and structure of the organization's business.
By just how, our research of YTL Company has indicates that business itself includes three basic blocks. They are simply Job Positions, Activities, and Systems. The key to the growth of organization lies in understanding how each one of these subunits of corporation develops, and exactly how they connect to one another to create an organic whole entire.
The YTL Company divides the work positions into four types, which is Structure, Authority, and Circulation of jobs, Right people and Training.
Structure -- The very first thing to consider is if the framework of jobs in the business is right for today's business and for the plans for tomorrow. Therefore, it's well worth performing a serious evaluation of set up composition of YTL Company provides the right makeup and balance of job positions.
Authority - Second, YTL Company examine whether each job position in the business is matched up by an even of authority for the person in that job to carry out the tasks covered within the work. In addition, the individual filling the job needs to evidently know whom he or she is to report to.
Distribution of Responsibilities -- Third, one must examine if the job tasks that are assigned to the individual will be the right tasks with the position. Perhaps some duties for a job should not be included in the job, or some jobs might need to be added to the job, or some may should just be delegated to some other job position. Therefore, an examination of this content of each job position the company is also worthy of a detailed examination in the business.
Right People, Training -- Fourth, once job positions in YTL Company are properly allocated, and job duties for individual jobs are maximized for efficiency, specific job positions have to be loaded by the right people, and each person trained to the hilt to the job.
Jobs, activities can be consistently improved throughout the organization as well. Each improvement to an activity emits fresh energy and makes the organization more effective.
YTL this hi-tech creation company is reviewing their product development activities, in doing so maximizing the speed of products and services to advertise, as well as the efficiency and quality with their products and services. Therefore, a thorough activities examination can concurrently make the company more efficient and effective, releasing great energy and prosperity.
The production of a business is determined by the extent to which usual and recurring physical activities are systematized and converted into standard operating methods.
Systemization doesn't just make activities work more efficient; it creates people more relaxed and cheerful at work because the activities almost "take care of themselves. " In fact, the happiest people tend to be in companies that have transformed most or all activities in the business into related systems.
There are some systems in the YTL Company as computerized bookkeeping, email, sales tracking, sales analysis, making, credit checking and etc. And there will be the existing systems. YTL Company upgraded the efficiency to the next level.
Compare to the theories of YTL, it is nearly the same. YTL company supervisor organize the company organizing framework and the job position of the employees in the company. Besides, the manager also concern about the authority and system in the company.
Planning can best be defined as looking in advance and chalking out future classes of action to be used. It is a preparatory step. It is a systematic activity which determines when, how and who is going to perform a particular job. Planning is an in depth program regarding future courses of action. It is rightly said "Well plan is half done". Therefore planning calls for under consideration available and potential human being and physical resources of the organization so as to get effective coordination, contribution and perfect modification. It's the basic management function which includes formulation of 1 or more precise plans to accomplish optimum balance of needs or requirements with the available resources.
Someone has stated before, "Planning is a mental predisposition to do things in orderly way, to think before acting and also to work in the light of facts somewhat than guesses". Planning is deciding best substitute among others to perform different managerial functions to be able to attain predetermined goals.
Planning is deciding beforehand on what to do, how to do and who to do it. Planning bridge addresses the space between where you want to go. It makes possible things take place which wouldn't normally otherwise appear.
In today's highly competitive business environment, budget-oriented planning or forecast-based planning methods are inadequate for a huge corporation to endure and prosper. The organization must engage in proper planning that clearly defines goals and assesses both internal and exterior situation to formulate strategy, execute the strategy, measure the progress, and make changes where necessary to stay on keep track of.
YTL Corporation's strategy of offering "World Class Products and Services at Competitive Prices" extends across the range of its business activities, and could very well be the single the very first thing underpinning its success today in enhancing shareholder value.
This process is most suitable to strategic management at the business unit degree of the organization. For large firms, strategy at the organization level is most worried about managing a collection of business. For example, commercial level strategy will involve decisions about which business units are to grow, resource allocation among the business units, taking benefit of synergies among the business enterprise systems, and mergers and acquisitions. Along the way discussed here, "company" or "firm" will be used to denote a single-business firm or an individual business unit of an diversified firm.
YTL Corporation employs the detail by detail then only can reach as yet is one of the greatest companies shown on the Bursa Malaysia. Our company has many resources, for example hotel, resorts, building, and etc.
Mission- Company's mission is its reason behind being a company. The quest often is indicated by means of a mission statement, which conveys a feeling of goal to employees and assignments a corporation image to customers. Inside the strategy formulation process, the objective statement pieces the path of where in fact the company should go.
YTL's mission is to want to supply the affordable and become one of the world-class quality products and services. Now our company is pursuing by the mission and almost would like to overstep the mission already. YTL Group Managing Director Tan Sri Dato' (Dr) Francis Yeoh Sock Ping said that before.
Objectives- Aims are concrete goals that the organization seeks to attain, for example, an cash flow growth target. The goals should be challenging but possible. In addition they should be measurable so that the company can screen its improvement and make corrections as needed.
YTL over the last 15 years already contributed right to its success in obtaining a compounded gross annual development rate in Pre-tax income of 55%. This can shown that our company also done in this part perfectly and is don't assume all company can done it as well, it because need to place many center on the business target in support of can obtain it well.
Situation Examination- After the firm has specified its aims, it begins using its current situation to devise a strategic intend to reach those aims. Changes in the external environment often present new opportunities and new ways to attain the objectives. An environmental check is performed to identify the available opportunities. The company also must know its own capabilities and limitations in order to select the opportunities that it can follow with an increased possibility of success. The situation analysis therefore will involve an research of both external and interior environment.
A situation analysis can generate a large amount of information, a lot of which is not specifically relevant to strategy formulation. To help make the information more manageable, it sometimes is useful to categorize the internal factors of the firm as advantages and weakness, and the exterior environmental factors as opportunities and hazards.
Our company aspect the examination on the market in which the firm performs or is considering functioning. We devised the five pushes framework that is useful for industry analysis. The five pushes include barriers to entry, customers, suppliers, alternative product, and rivalry among rivalling firm.
Strategy Formulation- Once a clear picture of the organization and its environment is in the side, specific strategic alternatives can be developed. While different businesses have different alternatives depending on the situation, there also can be found generic strategies that can be applied across an array of firm. We identified the cost leadership, differentiation, and focus as the three common strategies which may be considered when determining proper alternatives. We implementing a combination of such strategies for a given product; alternatively, he argued that only 1 of the generic strategy alternatives should be pursued. So, our company got more strong capacity to build up faster than other company and become a big company.
Implementation- The strategy likely will be indicated in high-level conceptual terms and priorities. For effective implementation, it requires to be translated into more detailed policies that may be recognized at the practical level of the organization. The appearance of the strategy in conditions of functional procedures also will serve to point out any practical issues that might possibly not have been obvious at an increased level. The strategy our company is translated into few specific regulations for functional areas such as: marketing, research and development, procurement, development, human resources, information systems and etc.
Control- Once integrated, the results of the strategy need to be measured an evaluated, with changes made as required to keep the plan on track. Control systems should be developed and integrated to help this monitoring. Benchmarks of performance are establish, the genuine performance assessed, and appropriate action taken to ensure success.
Comparison between YTL Theory and the planning theory that we found, it is difference.
By what sort of theory and the YTL Company theory are similar same, detail by detail form mission to aims to situation evaluation to strategy formulation to implementation then last is control.
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