The following points highlight the three main types of plans that are made to achieve the objectives through the company policies. The plans are:- 1. Strategic Plans 2. Intermediate-Range Plans 3. Short-Range Plans. Type # 1. Strategic Plans : They determine both the major objectives of an organisation and the policies and strategies to achieve those objectives. Strategic plans are [...]
Michael Hammer and James champy defined BPR as "the FUNDAMENTAL rethinking and RADICAL redesign of the business PROCESS to achieve DRAMATIC improvement in the critical contemporary measures of performance such as costs, quality, service, and speed." This definition contains the four key words: Fundamental: Why do we do what we do? Why do we do it that way? Radical: Signifies [...]
The corporate restructuring strategies of a company can be thought of from two aspects:- Hardware Restructuring and Software Restructuring. Hardware Restructuring: This involves redefining and/or modifying the structure of the organisation so as to make it more efficient in decision-making, responsiveness, and intra-organisational communication, etc. Some suggested strategies are as follows: (i) Identification of core competency and portfolio pruning: This [...]