Strategy Evaluation Of An Enterprise

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.

Before we can talk about the Strategy Hudson Bay uses we must first answer the the question of what a Corporate and Business Strategy is and how The Bay inaugurates this into their company;

There has been a large amount of research into what strategy is, since Michael Porter’s perennial work in the 1980s. Studies done on the execution of strategy have been far less numerous. However, there is one major understanding about the execution of strategy. The execution of strategy is a vital part of success in business. A summary of many myths surrounding various strategic executions will be outlined, along with their subsequent analyses.

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).

The effective leader needs to recognize conflict early, be proactive, actively listen, remain calm, define the problem, and seek a solution (Johansen, 2012). The conflict I described took several weeks to come to a final solution. The nurse manager handled the situation fairly, however the time it took to resolve the conflict allowed for breakdown in the team morale. Unresolved conflict can lead to poor communication and affect patient outcomes (Marquis & Huston, 2015).

Strategy does not end with formulation and implementation. It is constantly evolving and being analyzed for effectiveness and measured to ensure it is continuing to meet the original intent of the organization. Some of the means used to measure strategy include financial ratios, market analysis, and balance scorecards. (Strategy as Work-in-Progress: Keep Looking Ahead) Of these, financial ratios are important but tend to review strategy in a historical sense whereas the balanced score card has the ability to look at how the customer perceives you and what must be done to excel in the industry. (Strategy as Work-in-Progress: Keep Looking Ahead)

This paper begins with a summary view to develop the concept of strategy and why its implementation is difficult. The following sections then cover the core discussion of this paper to support the aforementioned

Confusion in the workplace often leads to employee ‘depression, poor interpersonal, team dynamics, dysfunction and lack of engagement’ (Moriarty, 2012), which ultimately affects the productivity of the business. The issue arises from poor planning and organisational processes, which can ultimately create a situation that leads to a company going bankrupt. (BBC Monitoring Middle East,

The first step to analyse strategy is to perform a SWOT analysis. As Daft and Marcic (2011) believe “Formulating strategy often begins with an assessment of the internal and external factors that will affect the organisation’s competitive situation.” (Daft and Marcic, 2011, p.155). So this is where I will begin the analysis.

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.

According to Michael Porter, "Almost no consensus exists about what corporate strategy is, much less about how a company should formulate it"[1]. This is due to a combination of factors that relate to strategy terms, concepts and principles – and their practical application.

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’.

‘Strategic Management’ is a very complex term as many eminent researchers and scholars have had different views and conclusions on strategy. According to White (2004), “Strategic Management involves both systematically developing an idea together with its implications and testing the empirical validity & usefulness of that idea against the real world.” Thus strategy is not only about planning for future but also about confirming the validity of the hypothesis considered and implementing it successfully. Strategy formation may take various forms such as implicit, explicit or emergent. Implicit strategy is a strategy formed by intuitions of an individual. As per implicit strategists, strategic management is about reading the environment

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.

For starters there are no well-drawn management plans within the firm. A leading example is the fact that Chinh and Anh have no well spelt out roles within the firm. It is apparent by the fact that the two have in fact just assumed roles in accordance to what over time become their roles and interests within the organisation. This leads to lapsing of duties and lack of clear guidelines as to the course of action in case of any eventuality as is the case here. Any developments within the business have become unmonitored and where there is failure, there is no one mandated to take up responsibility to detect and act accordingly.