Matrix Analysis Matrix Management Essay - 1135 Words

what is a Matrix? A matrix structure describes when we have more than one formal reporting line Matrix management describes where we are managing horizontally across the traditional, ‘Vertical silos’ of functions, geography and organizational boundaries. It can include managing external stakeholders, multifunctional and virtual teams. Thus, in this structure the employment from different departments of the organization temporarily work together. In the matrix structure, there is no particular direction of authority and responsibility and a single individual may receive commands from two different sources at the same time. Leading in a Matrix ïÆ'Ëœ Context: - Why matrix? Demystifying. ïÆ'Ëœ Control :-Balancing trust control Empowering people in matrix Accountability without control ïÆ'Ëœ Clarity: - Clearing clarity and alignment. Dealing with ambiguity, trade-offs dilemmas ïÆ'Ëœ Cooperation:-Working across distance, culture Time zone, through technology and organizational boundaries. Being connected and effective avoiding the â€Å"over connection trap† Why Matrix? ï  ¶ To meet the needs of global and regional customers ï  ¶ Improved global or regional projects and systems ï  ¶ Improved access to shared resources, skills and technologies across the organization ï  ¶ Improved cooperation and communication across the old functional and geographical silos ï  ¶ Flexibility through faster decisions ï  ¶ Broader and more multi –skilled people development A matrix management structure is organizationalShow MoreRelatedStrategy Formulation, Situation Analysis and Business Analysis1590 Words   |  7 PagesFormulation: Situation Analysis and Business Strategy Institut fà ¼r Strategisches Management Institut fà ¼r Strategisches Management Situational Analysis Strategy Formulation - developing a corporation’s mission, objectives, strategies and policies Situation Analysis - the process of finding a strategic fit between external opportunities and internal strengths while working around external and internal weaknesses Wheelen / Hunger, 2010, p 224 SWOT Analysis SWOT- Strengths-WeaknessesOpportunities-ThreatsRead MoreStrategic Management and Swot Analysis1633 Words   |  7 PagesAmongst all the novelties, trends, and fashions appearing in the field of strategic management during the last decades, the SWOT analysis, standing for: strengths, weaknesses opportunities, and threats has enjoyed a long lasting popularity among both practitioners and researchers.  The purpose of this essay is to demonstrate that SWOT analysis can be used for both businesses and individuals. In the 60s swot analysis was invented at the Harvard business School for the purpose of analysing case studiesRead MoreGe Matrix1190 Words   |  5 PagesThe GE matrix is an alternative technique used in brand marketing and product management to help a company decide what product(s) to add to its product portfolio, and which market opportunities are worthy of continued investment. Also known as the Directional Policy Matrix, the GE multi-factor model was first developed by General Electric in the 1970s. Conceptually, the GE Matrix is similar to the Boston Box as it is plotted on a two-dimensional grid. In most versions of the matrix: * theRead MoreCompetitive Analysis : The Competitive Profile Matrix ( Cpm )1519 Words   |  7 Pages Competitive Analysis The Competitive Profile Matrix (CPM) is a tool that compares the firm and its rivals and reveals their relative strengths and weaknesses (Competitive Profile Matrix, 2013, October 29). These factors are influenced by external and internal challenges. The illustrated CPM below compares Domino’s Pizza with two of its top competitors, Pizza Hut and Papa John’s. The results of the CPM give Domino’s Pizza a 3.3, which is above average in its respective industry. The firm also hasRead MorePmp Model Questions1248 Words   |  5 PagesQuestions on Project Management Fundamentals 1. Which of the following is not a project? a. Running an election campaign for a political candidate. b. Building a bridge over a river. c. Pilot aircraft for a United flight. d. Writing a book on Project Management. 2. Which of the following is not correct about initial phase of a project? e. The cost associated at the beginning of the project is highest. f. Stakeholders have maximum influence duringRead MoreBcg Matrix1487 Words   |  6 PagesWhat is BCG matrix? The BCG matrix is a chart that had been created by Bruce Henderson for the Boston Consulting Group in 1968 to help corporations with analyzing their business units or product lines. This helps the company allocate resources and is used as an analytical tool in brand marketing, product management, strategic management, and portfolio analysis. Analysis of market performance by firms using its principles has called its usefulness into question, and it has been removed from some majorRead Moreï » ¿Strategic Planning Process – Case Analysis1159 Words   |  5 Pagesï » ¿Strategic Planning Process – Case Analysis The Strategic Planning Process: The Strategic Planning Process involves numerous steps in evaluating the effectiveness of a firm’s performance relative to its competitors. To assess each of the components of a business, selected evaluative tools must be used. The tools are meant to serve as guidelines and not specific decision points. Management must decide upon the most appropriate pathway for the firm to follow given the input from both theRead MoreManagement Of Quality Management Standards1330 Words   |  6 PagesM29EKM (MANAGEMENT OF QUALITY) COURSEWORK 2 Done by: OLUMAYOWA A. AYODEJI SID: 6771175 MSc Engineering Business Management Coventry University, UK Submitted on 19th March, 2017 1.0 Review of ISO 9001:2015 ISO 9001 is a universal quality management standard that sets requirements for quality management systems and can be adopted by organizations in any industry and of any size. It helps the organization which use it achieve customer satisfaction through efficient processes [ISO, 2015]Read MoreSwot Analysis : The Modern Enterprise Management And Planning1458 Words   |  6 Pages1. Introduction In the modern enterprise management and planning, SWOT analysis is a widely known diagnostic tool. Generally SWOT analysis is used to identify the strengths, weakness, opportunities and threats of the enterprise itself, and then combine the company s strategy with the internal resources and external environment. In fact, it is a systematic framework which helps managers to build organization strategies and market planning. However, Some findings from Menon (1999) and Hill and WestbrookRead MoreBcg of Kfc807 Words   |  4 Pages   BCG Matrix of KFC The need for strategy, in order to expand its existing product in very promising markets for KFC is very essential. KFC, along with McDonalds, and other major fast food chains have dominated the American continent as well as else where. Since the1950’s when the founder of KFC had a dream, of building an empire in the fast foodmarket,  the  company  has  undergone  lots  of  changes.  The  company  has  changedownership; it has taken over from Pepsi and passed