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ng L., Groupthink: Psychological Studies of Policy Decisions. Houghton Mifflin Company, 1986. Mason, David H. ScenarioBased Planning: Decision Model for the Learning Organization. Planning Review, March/April 1994, pp. 611. Ringland, Gill. Scenario Planning: Managing for the Future. John Wiley amp。 Sons, 1998. Schoemaker, Paul . Scenario Planning: A Tool for Strategic Thinking. Sloan Management Review, Winter 1995, pp. 2540. Schriefer, Audrey. Getting the Most Out of Scenarios: Advice from the Experts. Planning Review, September/October 1995, pp. 3335. Schwartz, Peter. The Art of the Long View: Paths to Strategic Insight for Yourself amp。 Your Company. Doubleday, 1996. Van Der Heijden, Kees. Scenarios: The Art of Strategic Conversation. John Wiley amp。 Sons, 1996. Wack, Pierre. Scenarios: Shooting the Rapids. Harvard Business Review, November/December 1985, pp. 139150. Wack, Pierre. Scenarios: The Uncharted Waters Ahead. Harvard Business Review, September/October 1985, pp. 7289. 6. Core Competencies Related Topics 14 ? Core Capabilities ? Key Success Factors Description A Core Competency is a special skill or technology that creates unique customer value. A pany’s specialized capabilities are largely embodied in the collective knowledge of its people and the anizational procedures that shape the way employees interact. Over time, investments in facilities, people, and knowledge that strengthen Core Competencies can create sustainable sources of petitive advantage. Methodology A Core Competency should: ? Provide significant and appreciable value to customers relative to petitor offerings。 ? Be difficult for petitors to imitate or procure in the market, thereby creating petitive barriers to entry。 ? Enable a pany to access a wide variety of unrelated markets by bining skills and technologies across traditional business units. To develop Core Competencies a pany must isolate its key abilities and hone these to embody the anization’s unique strengths. By paring itself to other panies with the same skills, a pany can ensure that it is developing unique capabilities. Companies can also develop an understanding of what capabilities their customers truly value and invest accordingly to develop and sustain valued strengths. Such strengths need to be preserved even as management expands and redefines the business. Common Uses Core Competencies capture the collective learning in an anization. They can be used to: ? Design petitive positions and strategies that capitalize on corporate strengths。 ? Create links across businesses and functional units。 ? Integrate the use of technology in carrying out business processes。 ? Encourage munication and involvement and place a strong value on municating across anizational boundaries。 ? Make outsourcing, divestment, and partnering decisions。 ? Spawn new business development opportunities。 ? Make decisions about which new technologies or capabilities must be acquired. Selected References Andrews, Kenh. The Concept of Corporate Strategy, Third Edition. Dow Jones/Irwin, 1987. 15 Campbell, Andrew, and Kathleen SommersLuch. Core Competency Based Strategy. International Thompson Business Press, 1998. Drejer, Anders. Strategic Management and Core Competencies: Theory and Applications. Quorum Books, 2020. Hamel, Gary, and . Prahalad. Competing for the Future. Harvard Business School Press, 1994. Prahalad, ., and Gary Hamel. The Core Competence of the Corporation. Harvard Business Review, May/June 1990, pp. 7991. Quinn, James Brian. Intelligent Enterprise. The Free Press, 1992. Quinn, James Brian, and Frederick G. Hilmer. Strategic Outsourcing. Sloan Management Review, Summer 1994. Schoemaker, Paul . How to Link Strategic Vision to Core Capabilities. Sloan Management Review, Fall 1992, pp. 6781. Waite, Thomas J. Stick to the Core or Go for More? Harvard Business Review, February, 2020. 7. Corporate Codes of Ethics Related Topics ? Corporate Values Statements ? Mission and Vision Statements 16 Description As corporate conduct has e under increased scrutiny from shareholders and other stakeholders, the pressure to create exemplary codes of conduct has been growing. These codes seek to promote good conduct by setting a mon standard for acceptable behavior. A Corporate Code of Ethics will define a pany’s core set of values and guiding principles. A code may be a short description of a pany’s overall mission and values, or it may be more detailed and describe, at length, the manner in which employees are expected to behave. Through the creation, promotion, and constant modification of a Corporate Code of Ethics, managers can actively manage a pany’s values in a similar fashion to how they manage other aspects of their business. Most importantly, by publicly displaying a firm’s mitment to high standards of moral excellence, a Code of Ethics signals that the firm has a concrete and substantial mitment to ethical behavior. Methodology To be effective, a Code of Ethics should be written by senior managers in cooperation with Human Resources personnel. The creation of a Corporate Code of Ethics requires managers to: ? Clearly identify and municate the corporation’s values and overall mission. This requires gathering prehensive input from managers, employees, and customers, identifying the proper level of specificity and detail for the Code of Ethics and drafting the Code in clear and definitive language easily understood by those inside and outside the firm。 ? Increase awareness and understanding of the code. Senior managers should create ethics programs to introduce employees to the code and to facilitate mon understanding of the importance and mean