Strategic And Technology Oriented Era Essay

‘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 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.

Strategy is not only a tool for outfoxes the competition but also an incredible means for creating and shaping a company

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

Henry Mintzberg has defined the definition of strategies in academic ways and in practice in 1988. After examing the strategic process, he found that it was more unpredictable than early thoughts. Thus, it couldn’t refer to one process that be called strategic planning. Instead of that, he concludes the following five types :(1)Strategy as plan – a directed course of action to achieve an intended set of goals; similar to the strategic planning concept;(2)Strategy as pattern – a consistent pattern of past behavior, with a strategy realized over time rather than planned or intended. Where the realized pattern was different from the intent, he referred to the strategy

Strategy is in itself the ideas, decisions and actions that enable a firm to succeed in the long and short run. It is their “way” of getting their goals and objectives achieved with core values and beliefs that create an organizational coherence in strategy direction. The strategy is their plan of action that will

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.

In an essence, the strategy is beyond a direction or future blueprint for growth & sustain in the global completive environment rather than just an asset of an organization. “The problem of performing strategy, how is it done, who does it and what they use to do it, is so important for both strategy theorists and practitioners. (Jarzabkowski, 2005 :1)

Strategy is a set of large scale and future- oriented plans that a firm takes to gain and sustain their competitive advantage, such as financial and human capital. In this course, I learn to use different analysis to formulate and implement plans designed to achieve an objective. In the first lecture, I realized that strategic management may not only be applied in corporation, strategic management toolkit can also be used in our career to pursue our goals, so I think strategic management is an interesting science.

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’.

Strategy can be defined as being different from one’s competitors, finding the race to operate and accomplished it. According to Michael Porter (1996), while becoming better at what you do is desirable, it will not benefit you in the long run because it is something other competitors can also do. Strategies for organizations are originally developed by Michael E. Porter in 1979 by introducing the five forces model. A company can identify the industry profitability and attractiveness by analyzing the five forces of Porter (Johnson et al., 2008). And then a reasonable strategy can be set up in line with the strengths and the weakness of an organization is able to create a plan for a stronger position for the organization within its

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.

Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. In order to determine the direction of the organization, it is necessary to understand its current position and the possible avenues through which it can pursue a particular course of action. Generally, strategic planning deals with at least one of three key questions: "What do we do?", "For whom do we do it?", "How do we excel?"

Can you imagine a machine so big it dwarfs entire planets? Can you imagine a machine with a single goal, a single purpose? Can you see it, hovering in space, blotting out the stars, so big it bends thought? Can you imagine a machine so complex that no human has ever even tried to understand it, and yet the machine exists because humans built it in the first place?