Operations Strategy‚Äè

There are a gazillion companies out there, but some stand out. Whether it is because of their popularity, affiliations, history, profile or service, one factor simply makes or breaks a company; it’s strategy management process.

‘Strategy is the direction and scope of an organisation over the long term, which achieves advantage in a changing environment through it’

Strategy is a set of complicated tactics formulated by the executives of a company directed towards the achievement of company’s goal (Salmela, 2002). It is about all the path ways that a company would follow to reach its ultimate goal. It is a company’s strategy which helps to identify what it does better than the other companies in the industries, which may be different from what it does best. For successful strategy formulation and implementation, a company should know the needs of customers and should have knowledge of its competitors. Through a good strategy a company would identify that opportunity which makes it different from the others (Thompson, 2005).

Strategy refers to the plan or action taken to achieve organizational goals. When Ellen took over Tufts-NEMC, the hospital was struggling with payroll and scale. Ellen had to focus on meeting payroll, a short-term strategy, and could not focus entirely on the longer term. She took some immediate measures to help cut cost

A corporate strategy is a plan based on the corporate aims and objectives which defines the overall scope and direction of the business by identifying its choice of business, markets and activities. For an organisation facing such

Corporate Strategy - is concerned with the overall purpose and scope of the business to meet stakeholder expectations. This is a

Corporate Strategy has been defined by numerous authors. Grant (1995) claims corporate strategy deals with the way a corporation manages a number of different businesses. Lynch, R, in both his third and fourth edition books on corporate strategy refers to Penrose (1959) definition of corporate strategy as “the pattern of major objectives, purposes or goals and essential polices or plans for achieving those goals, stated in such a way as to define what business the company is in or to be in and the kind of company it is or to be”

An organisation’s strategy plays an important role of providing direction of where company wants to be and how best to allocate the company’s resources to meet its objectives. The formulation of business strategies has evolved over the years and has been made more difficult in recent by the uncertain operating environments and global financial crises.

Corporate strategy is defined as the overall scope and direction of an organisation and the way in which its various operations work together to achieve particular objective. An organisation’s objectives can only be achieved if the vision and mission statement is realistic and the strategy is implemented.

Alfred Chandler(1963) defines strategy as ‘ the determination of the long-run goals and objectives of an enterprise and the adoption of courses of action of an enterprise and the adoption of courses of action and the allocation of resources necessary for carrying out these goals’. And Michael porter(1996) sees it as ‘Competitive strategy is about being different. It means deliberately choosing different set of activities to deliver a unique mix of value’.

There is no exact definition for Strategy because it is defined in different ways as some people think that make a plan to get success in future is a strategy while others think that future is hard to predict. Exceptionally, some Japanese companies have no strategies though these companies have a good cost and continuous improvement. The definition for strategy is to explain the direction and scope of any company for the long term to achieve advantage for the company or to fulfill the needs and expectations. Strategy is different from Operational effectiveness and they work in different manner in the companies. Michael Porter, who is a professor at Harvard Business School and a strategy expert, says that it should determine how organizational resources and skills should create advantage. Accordingly, Strategy can also be defined as an organizational change during actions in the organizations for better and advantageous results or to determine how we win and get success in the future period. It is a needful developed plan with respect to market to compete the world. Organizations should be responsible for competitive changes according to the market. It is the main goal for any Organizations. Business/IT strategy is very important to know the success rate of your business. Apart from Business Strategy, the other two main types of strategy are Corporate Strategy and Team Strategy. These strategies give competitive advantage of cost leadership, differentiation and focus. The

A company 's strategy consists of the competitive moves and business approaches that managers are employing to grow the business, attract and please customers, compete successfully, conduct operations, and achieve the targeted levels of organizational performance.

Strategy is all about planning the next moves, making decisions - how and where to move forward from the current position. In the past, strategy was associated mainly with the military sector, the top chiefs of command were making tactical choices in order to defeat their rivals and achieve victory. In the business sector the purpose of strategy is in principle the same, planning and building a road or path that will lead us to where ever it is we want to be in the future and to overcome all obstacles that might lay on the way. However, there is a difference between those two sectors, soldiers need only to follow orders without seeing or understanding the big picture, while in the

A strategy is said to be a plan that is made for the long term success of a product or brand. It is extremely important to have a strategy in order to figure out a direction towards which any company is able to focus all its resources efficiently and achieve desired outcomes. Formulating effective strategies is a considerably long process in itself that combines analysing several factors, situations and issues that are already present in a company and looking to improve on them alongside trying to implement various innovations and ideas to collectively create a direction towards which they can move and direct the resources available to them.

Johnson, Wittington, Scholes, Angwin and Regnér (2014, p. 3) defines strategy as ‘the long-term direction of an organisation’.