Leadership Of A Company Defines Strategy

Strategic management is the process where leaders establish an organization’s long-term direction, set the specific performance objectives, develop strategies to achieve these objectives in the light of all external and internal changes, and undertake effective strategies to manage these changes and execute action plans.

The vision, mission statement, and the company values help direct the company’s strategic plan. The vision statement provides the direction the company desires to head. By knowing where the organization wants to be in the future the strategic plan will be developed accordingly to the desired outcome. The mission statement tells the potential customers what the organization is all about and creates a snap shot of the organizational values. The strategic plan is formulated to provide the backbone of the mission statement. Finally the organizational values help keep the core values in

(1) The management team must adopt a strategic management plan. First of all, they have to develop a clear vision and a mission statement to inspire and motivate all the frameworks for the company’s future strategic planning. According to “Mission Statements and Vision Statement” (2011), “by crafting a clear mission statement and vision statement, you can powerfully communicate your intentions and motivate your team or organization to realize an attractive and inspiring common vision of the future” (p.1). The management team should create a mission statement that describes the company’s purpose and primary objective. For the vision statement, it should include the company’s value and purpose of the company. With a clear vision and mission statement, management and employees would be able to follow the right direction as a team. They also need to define “who their customers are, what products and services it supplies, and how these products and services are provided” (BUSN 460 Week 1 video, slide 3).

Strategy is plan action designed to achieve long term and overall goals. Strategy may also be defined as method or plan to bring about the desired future or solution to a problem.

Execution of a strategy allows an organization to identify a strategic manager or management team who will be responsible for five key components: people, resources, structure, systems and culture. The role of the strategic manager or management team is to implement and monitor performance and report to company stakeholders on the status. Because strategy drives an organization’s success, the team should select managers who can aggressively drive the objectives to achieve desired results through three actions:

Strategic goals, values, vision, and mission are appropriately referred to as strategies since they direct strategists in their quest to develop crucial organizational directions. The mission aims to capture the distinct purpose of the organization or reason for its existence. The vision attempts to portray a mental image of stakeholders, patients, physicians, employees, and managers want the business to be when it is achieving its mission or purpose, hence, it is regarded as the company’s hope for the future (Swayne, Duncan, & Ginter, 2012). On the other hand, values are those principles that organizations hold crucial as the guiding principles the employees and managers cannot afford to compromise as they plan to achieve their mission as they also pursue strategic goals and missions (Newhouse & Balotsky, 2013). Strategic goals are the overarching outcomes that the organization pursues so that it can achieve its vision and mission. Hence, the

Strategy is the direction and scope of an organisation over the long term which achieves advantage for the organisation through its configuration of resources within a challenging business environment to meet the needs of markets and to fulfil stakeholder expectation (Tutor2u.net, 2016). Strategy includes the movement arrangement of a particular organization for building focused advantage What 's more expanding its triple end result again those long haul. Likewise, the action plan identifies with accomplishing the monetary, social, furthermore biological execution destinations; basically, it serves span the hole between those long haul dream What 's more short-term choices. sometimes strategy is more about you actually do rather then what you intend to do which mean our real strategy emerge as we do it and may not line up with the plan (YouTube, 2016). In addition, high level of orchestration and vision is very essential in order to achieve overall goal. The Morden day executives need to develop a set of complex tactics that will lead to success and a good strategy should answer four key question which are where to compete, what value to be developed, what are the resources and capabilities to be used and how to sustain unique value (YouTube, 2016). Strategy may be generally regarding utilizing inside aids on make quality included

Strategic management is the application of the basic planning process at the highest levels of the company. Top management sets goals for the performance of the company carefully formulating, implementing and evaluating plans and strategies. It involves specifying the organization’s mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources

The authors define strategic leadership as “when individuals and team enact strategic leadership when they create the direction, alignment, and commitment needed to achieve the enduring performance potential of the organization” (Hughes, Beatty, & Dinwoodie, 2005, pg. 10) The focus of strategic leadership seen in this definition is to bring about the “enduring performance potential of the organization” which basically means the organization will thrive in the long run (Hughes et al., 2005, pg.11). This is the reason why alignment, direction and commitment are given (Hughes et al., 2005).

Concept of strategy was first introduced in fifties in organisational literature by faculty of Harvard Business School (Snow & Hambrick, 1980). According to the definition given in Oxford dictionary, “Organizational Strategy are the plans of a large organization about development and dealing with changing markets. These plans must originate from company’s main objective which represents key feature about business of the company. For a strategy to work, it should be divided into smaller achievable targets (Johnson, 2016). One more definition of describes organizational strategy as an expression of how an organization needs to evolve over time to meet its objectives along with a

When working on a strategic plan, an organization needs to first define its vision and mission. The vision basically asks where the organization want to go, while the mission defines how it will get there. The organization’s vision and mission will help guide the strategy formulation team with coming up with goals and objectives that are appropriate for the organization.

“Strategy can be thought of as a long term plan of action or execution designed to achieve particular objectives, such as achieving competitive advantage for an organisation. It reflects the values, expectations and goals of those who are in power within the organisation.” (RDI course material-Strategic Management module; Unit 1-Nature and scope of strategic management; Lesson 1-Nature)

After reading the course text and materials, the author's views have changed considerably. What has changed is the real world applications of strategic leadership. Initially, this author felt that leadership was a kind of ability to handle or control a group or an organization members to do things together ass a group. Leadership includes a lot of conditions, such as communications, statements and agreements. Originally, strategy meant how to plan to lead a group or an organization by the leadership. The term strategic leadership meant that to be a good leader should represent different kinds of leadership to head each different group or organization. Finally, execution to the author originally meant putting some things together that the company or organization is developing. The developed ideas are listed below.

I will be assessing how business missions, visions, objectives, goals, core competencies inform strategic planning. Business mission is a short written statement describing the organisation’s function, markets and competitive advantage. An example of a mission statement would be Facebook’s, which is “To give people the power to share and make the world more open and connected.” The purpose of a mission statement is to provide a ready reference point against which decisions can be made. Mission statements also help to stop there being different wrong interpretations of the organisation’s stated purpose. It also helps to present a clear image of the organisation for customers and the general public to see. Mission statements contribute to strategic planning because they will influence and determine how the plan is executed. For example if the organisation’s mission statement is to be green and environmentally friendly, then they must find ways to achieve their goals and objectives without contradicting this mission.

Strategy can be defined in different ways. According to Morley (2014) “Strategy is the expression of how the company is to achieve its objectives and an expression of its intent to achieve those objectives”.