Analysis Of The Word ﾬﾥ Strategy ﾬﾥ

In everything that we do, we have used some kind of strategy (plan). From driving to the store, which street to take to get there the fastest, to selecting that perfect item at the high tech store, the newest digital gadget. It is in our nature to formulate this kind of behavior when we are given a choice. In an organization it is much harder to accomplish that same behavior because there is more than one individual in the process, but still possible to do. Strategy is a guide by which an organization moves from a current state of affairs to a future desired state. In this paper I will explain the strategy implementation concept of the basic model of strategic management that we can use to make this happen. Strategy implementation is the process

The main text of this book includes 87 short illustrations and 15 case examples which have been chosen to enlarge specific issues in the text and/or provide practical examples of how business and public sector organisations are managing strategic issues. The case studies which follow allow the reader to extend this linking of theory and practice further by analysing the strategic issues of specific organisations in much greater depth – and often providing ‘solutions’ to some of the problems or difficulties identified in the case. There

The strategic management model identifies concepts of strategy and the elements necessary for development of a strategy enabling the organization to satisfy its mission. Historically, a number of frameworks and models have been advanced which propose different normative approaches to strategy determination.

In the book “Good Strategy and Bad Strategy”, Richard Rumelt illustrates examples of success and failure of business management to explain the true meaning of the strategy, and tells companies how to develop a correct strategy and adhere to core of management strategy. He also emphasizes the central role of strategic management as to remind the readers to understand the huge difference between a good strategy and bad strategy. This book has three sections: good and bad strategy, sources of power, and thinking like a strategist. I will be evaluating strengths and weaknesses under these topics. After finish reading the book, I had gained a better understanding of what a good strategy means to the success of a company. According to Rumelt, a good strategy is coherent, where companies pursue multiple objectives that are connected with each other. Rumelt points out that a good strategy consists of three elements: diagnosis, guiding policy, and coherent action. (71) First, diagnosis means to define the obstacles and challenges that the companies are facing, and guidelines help the people to overcome the obstacles. Lastly, coherent action is the activities or actions that company did to be consistent with its guiding policy. Today, many of us lost the focus of the strategy, which results in the downward of businesses and organizations. Rumelt has defined the strategy as acknowledging the main problems and take coherent action to overcome the problems. Moreover, he illustrates

Strategic management can be defined as a bundle of decisions and acts which a manager need to do to achieve better performance and a competitive advantage for their organization. Also, strategic management is a continuous process that evaluates and controls the business and the industries in which an organization is involved. First need to evaluates its competitors and sets goals and strategies to meet all existing and potential competitors; and then reevaluates strategies on a regular basis to determine how it has been implemented and whether it was successful or does it needs replacement. Moreover, strategic Management gives a broader perspective to the employees of an organization and they can better understand how their job

Strategic management method is that the full set of commitments, decisions, and actions that are needed by the organization that helps the organization to attain strategic fight and earn above-average returns. the primary step of the strategic management method is to analyse the external setting and internal organization to work out its resources, capabilities, and core competencies—the sources of its “strategic inputs.” once the analysis of the external and internal setting, the corporate formulates the methods that embrace business level strategy, company level strategy, international strategy etc. once the formulation of the strategy, the organization implements the strategy. The dynamic strategic management method should be maintained as dynamical markets and competitive structures are coordinated with a firm’s endlessly evolving strategic inputs. To manage strategically, the organizations ought to work on methods and alter the methods consistent with the ever-changing setting.

There is no single, universally accepted definition for strategy. Some understand it as a deliberate plan, drawn up to achieve set goals, others see it more as a process, whereby a company’s decision and actions are made in alignment with opportunities or threats in the industry. Even others define it as a pattern of consistent actions in decision-making and lastly there are those with a military view of strategy, who consider it a manoeuvre to beat and outsmart the competition (Parthasarthy, 2006). By drawing from each of the definitions, one could say that strategy and by extension, strategic management, is constituted of short-term strategies involving managing and planning for the present and long-term decisions and

Analyzing strategy process in the organization we need to use schools of thought in Strategy Safari. We will choose three schools for identifying the way of strategy. Strategic Safari is well – known concept in the strategic world which is a way to try and understand organisation strategy in many ways, but all views are a part of strategy picture. In this analyze we will try explain prescriptive approach which tries to identify a direction of action by looking at the current situation and the environment. Chosen schools are following:

There are different definitions of strategy. However, for the purpose of this research, we must select a definition. According to Tony Proctor (2000), a strategy is a plan that integrates an organization’s major goals, policies, decisions, and sequences of action into cohesive whole. It can be ¬applied at all levels in an organization and pertain to any of the functional areas of management. Thus there may be production, financial, marketing, personnel and corporate strategies, just to name a few. In marketing, there may be pricing, product, promotion, distribution, marketing research, sales, advertising, merchandising, and etc. strategies. Strategy is concerned with effectiveness rather than efficiency and is the process

Strategy evaluation is an activity that determines to what extent the actual change and performance match the desired change and performance. The strategic management model depicts the five major activities as forming a rational and linear process. It is, however, important to note that it is a normative model, that is, it shows how strategic management should be done rather than describing what is actually done by senior managers. As we have already noted, the notion that strategic decision-making is a political process implies a potential gap between the theoretical model and reality.

In this competitive world, it is necessary to be updated about all perspectives to run an organization. Organization can do different analysis such as PESTLE, Porter five forces, Value chain; to know the market demand andessentially of the products. On the other hand organization should have their strategies and knowledge about the market. Strategic management is the process to get different terms of planning, monitoring, analysing and assessments which are necessary to operate an organization. In the other word, it can be defined as the continue processof making decision and actions by which organization can match or fit with different environments for the most effective way to work (Hitt, 2012).Strategic management can be

The idea of strategy uses in organizations for business purposes, often understand as strategic management, started after the second world-war. The chronological order of definitions of strategy in organizational perspective is given by various writers in table-2.

This paper takes a look at the processes of strategic planning as an effective tool of strategic management in business organizations. It finds for effective strategic planning it requires top level managers’ to take an active role in defining the strategic direction of the organization. It requires good working relationships between the planning staff, managers, and the top level management team. In creating an environment which recognizes strategic planning as a tool of strategic management, we will review one of the many tools available in analyzing the strengths and weaknesses of an organization. The integration of organization objectives into all divisions and the organization-wide strategic plan; and a planning process which is not too rigid or mechanical and can be changed as required to meet new geographically, economical, or organizational changes. Finally, the article finds an organization which excels at the strategic planning process and is responsive to environmental changes and challenges of their industrial field.

Establishment and execution of a management strategy are the heart and soul of an organization. This strategic management is what determines the company of either successful or fail. Coulter (2002, p. 5) stated that an organization that applies strategic management concepts and techniques have higher level of performance. However, implementation of this strategy is a big challenge. Even a good strategy can be ineffective in its execution. A poor strategy, though always lead to ineffectiveness, can sometimes be effective. Nonetheless, whether or not the implementation of these strategies is effective, it has always give impacts on the involved organization.

Organizational strategy can be defined by examining: the analysis of the strategy, the choice of strategies and the realization of strategies. The analysis of the strategy: the process begins with the definition of the mission and the long-term objectives of the company. Any choice has to predict its future evolution and continuously follow the undergoing of the process. The analysis of the strategy points out: what is or what should be the strategic position of the company towards the competing companies and the environment; decides the actions for achieving company’s goals and the relative times; chooses between the many options that present themselves; which competences and resources does the company have and how they can help to get