The Concept Of Good And Bad Strategy

This way of making a strategy enables the company to set the objectives and to follow the course without any mistakes. To go through this it is important to have strong management that knows how to lead the course and to motivate the employees. In his book he also defined an important concept that is used even now in strategic management and that is the concept of synergy.

Strategy does not stand alone in the organization, as it has been said above, it defines the path to accomplish objectives; so in order to have an strategy the company needs to have a defined mission, vision and objectives. The mission defines what will be achieved and what the purpose of the organization is. The vision is what the organization aspires to be in the future and provides motivation for people to perform at high level. Once the organization has clearly defined who it is and what it wants to become, it needs to establish objectives to measure accomplishments. Here is where strategy interacts, strategy is about decisions and resources that need to happen in order to accomplish mission, vision and objectives.

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)

Strategic Management, what is this? It is that set of managerial decisions and actions that determines the long-run performance of a corporation. It includes environmental scanning, strategy formulation and implementation, and evolution and control. The study of Strategic Management helps us to monitoring and evaluating the opportunities and threats of a company’s strengths and weaknesses.

Strategic planning compels businesses to be proactive than reactive in managing their future endeavor (David…). That makes business take initiatives and influence activities rather than just responding to activities- and thus to have control over its own destiny. Strategy improves decision making. It makes decision making simple by constraining the range of decision alternatives considered and also reduces the searched required to find an acceptable solution to decision problems. Strategy-making also pools and integrate the knowledge of different individuals. As a coordinating devise, strategy coordinates the actions of different organizational members. It is a communicating devise that communicates the identity, goals, and positioning of the company to all organization members. It is concerned not only with how the firm will compete now but also with what the firm will become in the future. It helps to establish a direction of the firm’s development and also the aspirations that can motivate and inspire members of the organization (Grant,

In this assignment we compare a classic and a systemic perspective of strategy. When talking about strategy one will often find the name Michael Eugene Porter. His books, models, frameworks and theories are often seen as basics in the field of strategy. His most significant and popular framework is the five forces analysis (Porter, 1980). According to Whittington (1993), Porter is placed within the classic approach of strategy. In total he introduces four perspectives which are the classic, the evolutionary, the processual and the systemic. He argues that each perspective had an identifiable decade in which it was dominant. Accordingly, the classic perspective is placed in a timeframe starting at 1960. The main intention in the classic perspective is the maximizing return on investment. Besides Porter, Ansoff and Chandler are important names for the classic approach. Since

variety-based positioning in which the company produce a subset of an industry’s products or services

The implementation of correct strategy in an organization is of vital importance. The reason for this is that strategy helps an organization to reach goals and it helps an organization to prosper. The correct Strategy and implementation also helps an organization to have a competitive advantage over its

"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 environment, to meet the needs of markets and to fulfill stakeholder expectations". (Johnson and Scholes, 1999)

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

The ability to sustain the business in the market is definitely a tough job. That explains why behind every company there is a strategist to come up with innovative ideas to achieve specific goals. The need for a structural organization to grow, a plan such as a unique strategy is needed. A strategy is a unique plan, a long term plan for a structural organization to achieve a targeted goal. It involves unique activities that enhance the organization to outshine from the competitors and still preserve it. There are different strategies to take into consideration but the definition of strategy that this essay will outline here focus on three questions below:

In this research the topic is “What is Strategy”? If you ask different people to describe strategy, you will get many different answers. Strategy could be a set of goals that you achieve to gain competitive advantage over competitors. Strategy is something a business utilizes to build on to stay in business for a long time. According to Harvard Business Review “strategy is something that set you apart from other businesses” (Michael Porter). This paper will define strategy, also talk about why or why business should develop a strategy. Another eye open statement will address can or should individuals have a life strategy. What strategy means to me is to set goals that you can achieve. Setting goals and utilizing off positive feedback to build a better brand for a business.

The world seems to be changing ever faster, with the innovation of technological, economic and political forces reverberating around the world everyday. In the 21st century, management is becoming one of the leading key words on most of search engines such as Google, Yahoo, Go.com, Business.com, WebCrawler…Times are turbulent, and for managers trying to successfully run their organizations, not only do they have to master the technical skills but also make precise decisions at the right times and build up the appropriate strategies to achieve organizational goals. That is to say strategy is undoubtedly crucial for organization’s success, so what is strategy? Strategy refers to the plan of action that prescribes resources

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.

The concept of strategy is a fundamental issue for an organization. A successful organization mostly depends on how much good strategy they have. When there is good strategy, it can take the company to achieve its goal and vision quite smoothly. However, if there is bad strategy, the company can be in dangerous situation. Sometimes it can collapse as well. But good strategy is not only about vision and goals; it is a force of challenges that need to be achieved foe an organization. From Rumelt’s point of view, he mentions that Good strategy should be simply manages to meet the challenges an organization faces. It is not about achieving goals but moving the organization forward. Good strategy is all