Strategic Management, Cross-Functional Management, and Organizational Behavior
Assignment Overview
Career Growth: Management and Leadership Reimagined
Managerial and leadership opportunities expand for an MBA graduate with advanced academic preparation and professional experience.
Since the start of your MBA program, you have successfully completed coursework in finance, asset management (accounting), economics, data analytics, sustainable business ethics, marketing, and management/leadership. They provide background for how management and leadership are interconnected in all areas of an organization.
Case 1 Resources
Creating Organizational Control Systems (2022)
Vision, Mission, and Goals (2022)
The Basic Building Blocks of Organizational Structure (2022)
Understanding the Strategic Management Process (2022)
Data Analysis: 4 Ways HR Analytics Help Small Businesses Make Data-Driven Decisions (2022)
Economics: Employability, the Labor Force, and the Economy (2022)
Financial Operations: Human Capital as a Service (2022)
Marketing: What are the biggest social media challenges for HR? (2022)
DEI: Build trust in diversity, equity, and inclusion commitments (2022)
Case Assignment
Cross-Functional Management and Organization Behavior
HR/Team Dynamics, Leadership, and Organizational Culture were prevalent themes in earlier coursework. Connecting those concepts to Strategic Management is the focus of Case 1.
Strategic management is a complex discipline and requires tools and resources across departments. Research how it all works together to optimize performance and productivity in a culturally diverse environment. Use quality research published within the last year. Articles from the library databases are a good choice. Library databases allow searching by date. In Google search, click “Tools” and enter the date range.
Explore the role of the overall management function. Include work from home (WFH) and hybrid schedules in the coverage. (1 page).
How does marketing fit in the scenario? Consider social media implications in the workplace. (1 page).
Connect how managerial economics supports the process. Look at trends like unemployment, reskilling, and the Great Resignation. (1 page).
Consider the function of data analysis in the process. Include information on how data is used by managers. (1 page).
Explore accounting and finance tools that are integral to achieving the performance and operational productivity goals. Consider how benchmarking is addressed. (1 page).
Include a discussion of workplace diversity as a consideration. (1 page).
Making Connections
Explain how Strategic Management provides a foundation for the cross-functional teams to collaborate for the benefit of the organization. (1 page).
Each of the seven sections above must have research support (published in the last year).
No quotations are permitted in this paper. Since you are engaging in research, cite and reference the sources in APA format. NOTE: Failure to use research with accompanying citations to support content will result in reduced scoring “Level 2-Developing” across the grading rubric. This is a professional paper, not a personal one based on feelings. It must be written in the third person. This means words like “I,” “we,” and “you” are not appropriate.
Assignment Expectations
Use the attached APA-formatted template (MGT599 Case 1) to create your submission.
The template is set up in APA 7: double-spacing, font, margins, headings, page breaks, APA help links.
MGT599 Case 1
Student's Name
Trident University International
MGT599 Strategic Management
Due Date
MGT599 Case 1
Strategic management is a sophisticated field that needs tools and resources across various departments. This paper will examine the intricate relationship between strategic management, cross-functional management, and organizational behavior in a culturally diverse environment. Through understanding the interconnection of various concepts like corporate culture, marketing, HR/team perspectives, managerial economics, leadership, workplace diversity, and accounting and finance, an organization can develop a cohesive workplace that supports diversity, strategic decision-making, and collaboration to maximize productivity and performance.
The overall management function in a culturally diverse environment maximizes productivity and performance. Substantially, cross-functional management is a fundamental component in the overall management function that enhances inclusivity and effectiveness in the workplace. It entails integrating and coordinating efforts from different teams and departments to attain the organization's goals. Such integration and coordination are fundamental in a culturally diverse environment since there is a need for collaboration and effective communication across various work styles, cultures, and languages. Managers must enhance an inclusive working culture that fosters diversity, enhances understanding, and motivates team members to have an open dialogue. They need to offer opportunities in the workplace for cultural awareness education and improve inclusion and diversity programs so that everyone feels respected and valued. Moreover, organizational behavior is integral in comprehending and managing worker interactions, attitudes, and behaviors. Managers in a culturally diverse environment must be sensitive to the specific needs and views of people from all backgrounds (Ponomareva et al., 2022). They must adjust their leadership approaches to cater to various cultural preferences and communication strategies, enhancing a sense of engagement and belonging among workers.
Strategic management entails ensuring organizational goals and objectives align with the external environment and making significant decisions that help attain competitive leadership. Managers in culturally diverse contexts must consider different cultural preferences and nuances during strategy formulations. By adopting cultural diversity in strategic decisions, organizations position themselves better in extending market reach, entering new markets, and developing a competitive edge. Work From Home (WFH) and hybrid schedules are prevalent in contemporary workplaces. In such scenarios, effective management needs robust communication, performance monitoring, and trust enhancement. Overall, management helps leverage collaboration tools and technology for extensive virtual communication, enhances teamwork, and promotes a community sense for hybrid and remote workers. Ultimately, managers should offer remote and hybrid employees support and resources to foster success and understand the changing world (Kennedy et al., 2022).
Marketing
Marketing is integral to any organization's success, particularly in a culturally diverse environment where it fits in. Marketing efforts and programs should align with the diversified consumer base and accommodate specific preferences, behaviors, and values of all the cultural groups represented. Substantially, social media remains a significant marketing tool and has critical implications for the workplace. The development of marketing approaches in a culturally diversified workplace environment relies on extensive comprehension of the cultural backgrounds of the target audience. In essence, this entails considering traditions, language, cultural norms, and symbols to enhance marketing messages' relevance, respectability, and relatability (McLaughlin, 2022). Through structuring marketing campaigns to particular cultural segments, organizations position themselves to engage diverse consumers effectively and develop robust relationships.
Social media offers an avenue for real-time engagement, communication, and feedback. Social media in a culturally diverse workplace can enhance inclusivity, celebrate divergent cultures, and share diverse opinions. Substantially, it can be leveraged as an effective tool to showcase the commitment of the organization to inclusivity and diversity, identifying workers from various backgrounds, and storytelling. However, organizations should understand and consider social media's possible challenges and implications in the workplace. Interactions in social media can either be misinterpreted or result in conflicts if organizations fail to manage them carefully (McLaughlin, 2022). Managers need to formulate clear guidelines and frameworks concerning incorporating social media in their workplace by ensuring that every worker understands the expectations and boundaries of conducting themselves professionally. Also, organizations should ensure employees are well-trained in social media, focusing on the significance of responsible and respectful online behavior.
Economics
Managerial economics supports and enhances the strategic management process, especially in a culturally diverse working environment. The management can make critical decisions by analyzing economic trends and elements to maximize productivity and performance. This analysis considers trends and factors such as unemployment, great resignation, and reskilling. Unemployment is a critical economic issue that managers should consider and closely monitor in developing strategies (Pologeorgis, 2023). It is fundamental for managers in a culturally diverse landscape to comprehend unemployment trends in various demographic groups to point out opportunities and talent gaps potential for recruitment. The labor market analysis enables managers to allocate resources and funds effectively and strategically, retain diverse talent and skills, and develop a labor force that depicts the cultural diversity of the organization's target market (Pologeorgis, 2023).
Reskilling is another critical trend affecting strategic management, particularly in a culturally diverse environment. The evolution of market dynamics and technology forces organizations to change and ensure their workers acquire required skills. Managers in a diverse cultural environment should highlight the relevant skill sets to address cultural nuances and effectively engage various stakeholders and consumers. Essentially, managerial economics helps understand the reskilling program's cost-benefit analysis and enables managers to focus on training and advancement initiatives. Moreover, great resignation is a prevalent trend featuring higher employee turnover rates and presents pertinent implications to the strategic management process. Managers in a culturally diverse setting should evaluate the underlying issues causing such a trend and its effects on the organization's labor force. Managerial economics enables managers to understand and assess the dynamics of the labor market, evaluate the cost of increased employee turnover rates, and formulate effective retention strategies of employees (Pologeorgis, 2023).
Data Analysis
Data analysis is fundamental in strategic management and maximizes organizational performance and productivity. Data analysis serves various functions in the strategic management process, and managers can leverage it. Data analysis enables managers to evaluate and assess the performance of departments, teams, and employees. It allows managers to research key performance indicators and metrics and thus point out areas of improvement and strength, monitor progress, and make critical decisions to maximize performance. Managers can conduct such evaluation and assessment at the group or individual levels to pinpoint higher-performing departments, teams, and employees and identify areas for improvement. Data analysis is fundamental for managers to understand the organization's trends, correlations, and patterns. Managers can gain significant insights by gathering and analyzing data on factors like sales, productivity, employee engagement, and consumer feedback (Davies, 2022). Such insights are fundamental in pointing out consumer preferences and emerging market trends and leveraging cultural diversity to achieve competitive advantage.
Data analysis is critical for managers to make key decisions concerning the allocation of resources. ...