2.The 1993 SOF process was clear in its focus on three primary objectives, (1) strategy review and approval, (2) multi-year financial expectations, and (3) one-year budget development and finalization. However, the amount of information required for each caused the SOF process to become a nearly unmanageable. Yet, within the process, there are some elements that we would choose to keep. First, the core objectives themselves are each crucial to the health and growth of most businesses and is information that we believe should be collected and considered by every company. Next, the strategic organizational structure of being separated into two product sectors, Medical and Diagnostic, divides financial accountability between the two and is something that we would preserve in some manner. Finally, the schedule and itinerary of the quarterly meetings is another element of the 1993 SOF process 1
MGT 620Becton Dickinson – Case Study AnalysisGroup 5that we would retain. Strategizing on aspects of new product development, R&D, and manufacturing arevital in the efficiency, innovative ability, and advancement of a company. In contrast, there are elements of the 1993 SOF process that produced imbalance and inefficiencies that we would therefore eliminate. The sheer volume of data required for each SOF book, as well as the number of SOF books provided by the business units and worldwide teams, not only necessitated an enormous amount of time to prepare, but also to analyze and implement. This process
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- Summer '19
- Management, SOF, SOF process