Time Scales for Business

Strategic management runs on several time scales. Short term strategies involve planning and managing for the present. Long term strategies involve preparing for and preempting the future. Marketing strategist Derek Abell (1993), has suggested that understanding this dual nature of strategic management is the least understood part of the process. He claims that balancing aspects of strategic planning requires the use of dual strategies simultaneously.
Strategic Management is actually a solid foundation or a framework within which all the functioning managerial operations are bundled together. This is the highest level corporate activity that sets the terms and goals for a company that it should follow for prosperity. (Wikipedia)

Chinese Stocks Fall

The Chinese stock had there biggest drop in a decade February 27, falling nearly 9 percent. Rumors that China is going to impose a capitol gains tax resulted in regional markets falling. The Chinese regulators jumped into damage control Wednesday, with a government run newspaper denying all rumors for a 20 percent capital gains tax on stock investments. (Elaine Kurtenbach- Shanghai, AP)

Toyota's New "Plant

Toyota disclosed a new site for its eight vehicle assembly plant in North America. A 1,700-acre plant is scheduled to be built by 2010 in Blue Springs, Mississippi. The plant will produce 150,000 Highlanders a year and create 2,000 jobs that are severely needed in the area. Officials said the company chose to go to the northeast part of Mississippi because the liked what was seen of the education levels and the work ethic of potential employees in the area. More than 25 states sought of for the plant to be built in its own state. (Emily Wagster Pettus-Tupelo, AP)

Chrysler paying employess to leave

Chrysler Group is offering nearly 50,000 of its U.S. workers up to a $100,000 plan to leave the company as part of recovery plan for the company. The company lost close to 1.5 billion dollars in 2006 and losses have still continued in 2007. The companies cutbacks are to include the removal of 13,000 jobs; 11,000 which are hourly, and 2,000 salaried workers. The buyout offer is for employees with at least one year of seniority with the company. The offer comes as Chrysler tries to reduce production of vehicles by 400,000 a year. (Tom Krisher-Detroit, AP)

Leadership and Management

"Leadership and Management are crucial to individual and organizational success in today's challenging global environment. Leaders conceive and initiate strategies that create and sustain competitive differentiation and advantage"
(Leadership and Manage Articles, BetterManagement.com).

What makes up Business Management

Business management has long been an important factor in keeping a business up and running. The main objectives of business management are, planning:deciding what needs to happen in the future and how to put these actions into training. Maximizing resources: deciding how to get the most out of the resources you currently have available. Leading and motivating: Making sure others play roles in successfully operating the business on a day to day basis. Last, controlling: making sure that plans are executed to the fullest and making any modifications needed.

Business Fraud

On Wednsday January 17, 2007 former Cendant Corp. Chairman, Walter Forbes, is scheduled to appear in U.S. District Court in Brideport. Forbes was found guilty of leading the largest accounting fraud of the 1990's. Prosecuters believe Forbes will recieve between 12 to 15 years in prison. Prosecuters would also like him to pay 3.3 billion dollars in restitution for the amount the company and its accounting firm paid to settle shareholder lawsuits originating from the fraud. (John Christoffersen, AP Business)