Leadership and Management | Assignment Help
Question 1
Competing Values Framework
The competing value framework is one of the fifth most important models in the history of business; this model is emerged from the question how to make the organization effective. This framework links with the measuring the higher performance related to several topics of social science and the organization. In addition to that, this framework is mostly based on the leadership tool that has many significant advantages to the organization. In the same way, the competing values frame can be used in aspects and level of the business for instance this framework will be applied to the personal lifestyle, moreover this can also be used in the better development of communication, leadership, culture of organization, core competencies of the organization, decisions making, human resources management, motivation, capabilities of the organization, financial performance, strategy planning and many other. In addition to that the competing values framework serves in the shape of map or in the shape of sense building device so that new and innovative ideas will take into place. In the same way, this framework also helps to identify the significant measures that assist the leaders to evaluate the interrelationship and communication level within the organization (Saame, Reino & Vadi, 2011).
In the other way around, this framework helps the leader to perform their duties more widely and with more consistently so that organizational performance will develop the value creation to the firm. Additionally, this framework based on the two dimensions which results in two by two diagrams with four quadrants. In the previous times some organizations are very good at the stability and control and other organizations are good the flexibility and adaptability. This framework also helps to forecast the future and provides the greater accessibility and about developing competitive strategies of future. It also provides the improvements in leadership development, organizational change and financial valuation so that the capability to forecast and measure will create positive values in organizations (Prajogo & McDermott, 2011).
4+2 formula for Sustained Business Success
The 4+2 formula for Sustained Business Success is very important business model that is developed after five years extensive research. This formula is very help for any type of business by focusing on the strategies that is developed by the business to develop sustained long-term business growth and development. In addition to that, the 4+2 formula for Sustained Business Success requires the managers to execute the four significant business practices which are which help the organization to develop the competitive business advantage to maintain their sustainability and performance. In the same way, this business model will develop such strategies that increase the business performance and sustainability by implementing customer relationship management system and other strategies. Moreover, the 4+2 formula for Sustained Business Success is help to evaluate the primary and significant success and also highlight the things in which the organization is lacking (Kumar, 2011).
In addition to that, 4+2 formula for Sustained Business Success is based on the eight elements in which four are primary and four are secondary which are directly linked with the higher corporate performance that is measured by the total return to the shareholder. The winning companies accomplish success in four primary factors and 2 of secondary ones so it creates the 4+2 formula for Sustained Business Success. This model highlights the four types of companies, which are winners, climbers, tumblers and losers. The primary factors involved in the 4+2 formula for Sustained Business Success are strategy, execution, culture and structure and other four secondary elements are talent, leadership, innovation and mergers and partnerships. In addition to that, this 4+2 formula for Sustained Business Success makes the growth happen with help of merger and partnerships, it also build strategy and develop clear proposition for the customers. Moreover, it clearly communicates the strategy to all stakeholder and also aware the company from unfamiliar threats.
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