Innovative Thinking in a business: theory based strategic experiment, management homework help
Utilizing the same virtual organization from the measurement and reward System, design a theory-based strategic experiment based on one of the following problems associated with the organization:
- Huffman Trucking
- Rising fuel costs are affecting the operations of Huffman Trucking. The company would like to refrain from passing on the fuel costs to its customers, but in order to do so it needs to find other ways to cut costs. How can Huffman cut costs to supplement the rising fuel prices?
- Being a successful company in a competitive business that is easily affected by fuel costs, Huffman would like to continue to set itself apart from other trucking companies. With the growing and highly publicized concern by all for the environment, Mr. H. Huffman is interested in adapting to a more eco-friendly approach, as well as potentially adapting their brand and marketing efforts to illustrate the company’s commitment to the environment. What are some things that could be done and how should they be structured?
- Huffman Trucking has consistently been successful as it relates to shipping large amounts of cargo for longer distances. However, they have also consistently lost business in the ship-same-day or ship-next-day markets. To remain competitive during slow economic times, Huffman must find a way to increase business in the same-day and next-day markets or they must enter a new market completely. What can they do?
Create a 7- to 10-slide Microsoft® PowerPoint® presentation, with detailed slide notes, on your strategic experiment. Incorporate the following into your presentation:
- Present two innovative ways to solve the problem.
- Address the following six changes involved with theory-based planning in your process and presentation:
- Level of detail: Focus on the most critical market, technology, and unknown costs.
- Communication of expectations: Base your predictions on theory and include a description of the theory used to generate your predictions.
- Nature of predictions: Predict the trends, rather than the specific numbers.
- Frequency of strategic reviews: Set a strategic review schedule.
- Perspective in time: Consider the history of the organization when devising the experiment. Focus on long-term history, rather than just recent changes in the organization. Use information available through the virtual organization to gain insight on the historical background of the organization. Some examples of helpful documentation are a strategic plan, company history, employee handbook, sales plan, or internal memos.
- Nature of measures: focus on leading indicators
- Based on your theory-based planning, state what other factors need to be analyzed and what other steps must be completed to determine the best solution for the organization.
- Include three to four scholarly references.
Format your paper consistent with APA guidelines.