Manage for Strategic Success to Survive, Grow, and Thrive.
Most business organizations (companies) are in business to be successful, i.e., survive, grow and thrive. Every business organization exists and operates in an internal/external environments which are comprised of numerous factors/forces that influence the organization's ability to accomplish its mission and achieve its vision. The external environment constitutes types of business environment factors such as: social, economic, political, technology, environment and legal factors; and is the source of resources (such as labor, capital, and customers), as well as opportunities and threats. The external environment factors can have major impact on businesses by affecting patterns of supply and demand, and influence the success/failure of an organization achieving its objectives. Organizations fail, not necessarily because of these environment factors, since other business organizations faced with the same conditions are able to survive, grow and thrive. The real reason organizations fail, is their inability to manage for strategic success to survive, grow, and thrive. An organization has to manage for strategic success to survive, grow, and thrive.
Managing for strategic success entails an ongoing strategy management process concerned with managing the strategy-producing value chain of an organization. Strategy management entails moving the organization from its current position to a future strategic position to secure a sustainable competitive advantage. Managing for strategic success is accomplished through the following processes: mission and vision formulation or reevaluation, formulation of corporate, business, operations, and functional area strategies, implementation and execution of strategic choices selected from the formulated strategies, and evaluation and control of the strategy. The vision sets out the reasons for the organization's existence and the "ideal" state that organization aims to achieve; the mission identifies major goals and performance objectives. Both are defined within the context of the organization's philosophy and values, and provide the basis for the development and evaluation of intended and emergent organization strategies. Managing for strategic success enables an organization to device and implement strategies at all levels of management in the organization to guide strategic decision-making and decisions in strategy management.
Organizations rely on different strategies to achieve their business goals and objectives, so they can survive, grow, and thrive. A company's strategy is a set of action plans that businesses use to guide the development of their products and understand their target consumers better. A company's strategy is a list of actions and decisions that a company makes to build a consumer base, establish itself in the competitive market, and achieve its major objectives. A company's strategy is a vital ingredient in determining its future. A good strategy must resolve a strategic issue and solve associated problem(s). Strategic issues of concern at this stage may relate to premises/assumptions, strategy implementation, and the strategy; these issues may include:
A business's leadership team generally develops the company's deliberate strategy during the business's creation to help the business grow and thrive. The success of most business organizations is not a random occurrence, but rather a series of right strategic decisions taken at the right moment in time. All this starts with defining the right strategy. A "right" strategy can have decisive influence on strategic decision making in better responding to environment factors. Valid strategies are not pulled out of thin air or handed to management on a silver platter; they must be developed through effective strategy management. The strategy also helps develop measures/metrics for measuring the progress towards its goals. Strategies are forward-looking and they provide the logic that guides strategic decisions in responding appropriately to changing environment conditions/factors. A valid strategy will yield sustainable organizational growth and profitability, or whatever other objectives the organization has established.
Developing an organization's strategy requires a lot of thought and effort in their formulation and implementation. Management has to determine the strategic issues that the organization faces based on (and consistent with) the organization's vision and mission formulation/statement, within the framework of the environment and factors, then device strategies tp address the identified strategic issues in order to achieve its mission and vision. In order to effectively manage strategy development, you need to be able to track the strategy as it is being implemented, detecting problems or changes in the assumptions the strategy is founded on, and make necessary adjustments. Strategy, however, is an intangible concept, and it is not visible to the organization or those who would intervene to make it work as intended. Most managers in organizations have difficulty developing viable, and agreed-upon strategy statement for their companies that can be a fundamental contribution to the organization's future. In order to develop such strategy statements (the make the strategy explicit), managers must be able to identify precisely what the goals of the strategy are, and major policies that define how those goals are to be achieved. Otherwise, the process of strategy determination may degenerate into what it often becomes - the solemn recording of platitudes, useless for either the clarification of direction or the achievement of consensus. A model-based strategy statement that can be visualized and can be made “visible” through visualization. This allows managers to determine if a strategy is right for the organization based on meeting the following criteria: the strategy's internal consistency, consistency with the environment, appropriateness in light of available resources, acceptable/satisfactory degree of risk, appropriate time horizon, and work-ability. Strategy visualization can foster better shared understanding of the organization's strategy. There is no such thing as a good strategy in any absolute, objective sense. Strategy visualization enables better coordination in enacting policies that drive the right organizational behavior; and pushing down decisions to ensure timely and successful execution. Strategy visualization enables people (managers and workers) in an organization to better conceptualized the organization's strategy.
Managing for strategic success entails an ongoing strategy management process concerned with managing the strategy-producing value chain of an organization. Strategy management entails moving the organization from its current position to a future strategic position to secure a sustainable competitive advantage. Managing for strategic success is accomplished through the following processes: mission and vision formulation or reevaluation, formulation of corporate, business, operations, and functional area strategies, implementation and execution of strategic choices selected from the formulated strategies, and evaluation and control of the strategy. The vision sets out the reasons for the organization's existence and the "ideal" state that organization aims to achieve; the mission identifies major goals and performance objectives. Both are defined within the context of the organization's philosophy and values, and provide the basis for the development and evaluation of intended and emergent organization strategies. Managing for strategic success enables an organization to device and implement strategies at all levels of management in the organization to guide strategic decision-making and decisions in strategy management.
Organizations rely on different strategies to achieve their business goals and objectives, so they can survive, grow, and thrive. A company's strategy is a set of action plans that businesses use to guide the development of their products and understand their target consumers better. A company's strategy is a list of actions and decisions that a company makes to build a consumer base, establish itself in the competitive market, and achieve its major objectives. A company's strategy is a vital ingredient in determining its future. A good strategy must resolve a strategic issue and solve associated problem(s). Strategic issues of concern at this stage may relate to premises/assumptions, strategy implementation, and the strategy; these issues may include:
- Are the premises made during the strategy formulation stage proving to be correct?
- Is the strategy being implemented correctly?
- Is there any need for change in the strategy? If yes, what's the type of change required to ensure strategic effectiveness?
A business's leadership team generally develops the company's deliberate strategy during the business's creation to help the business grow and thrive. The success of most business organizations is not a random occurrence, but rather a series of right strategic decisions taken at the right moment in time. All this starts with defining the right strategy. A "right" strategy can have decisive influence on strategic decision making in better responding to environment factors. Valid strategies are not pulled out of thin air or handed to management on a silver platter; they must be developed through effective strategy management. The strategy also helps develop measures/metrics for measuring the progress towards its goals. Strategies are forward-looking and they provide the logic that guides strategic decisions in responding appropriately to changing environment conditions/factors. A valid strategy will yield sustainable organizational growth and profitability, or whatever other objectives the organization has established.
Developing an organization's strategy requires a lot of thought and effort in their formulation and implementation. Management has to determine the strategic issues that the organization faces based on (and consistent with) the organization's vision and mission formulation/statement, within the framework of the environment and factors, then device strategies tp address the identified strategic issues in order to achieve its mission and vision. In order to effectively manage strategy development, you need to be able to track the strategy as it is being implemented, detecting problems or changes in the assumptions the strategy is founded on, and make necessary adjustments. Strategy, however, is an intangible concept, and it is not visible to the organization or those who would intervene to make it work as intended. Most managers in organizations have difficulty developing viable, and agreed-upon strategy statement for their companies that can be a fundamental contribution to the organization's future. In order to develop such strategy statements (the make the strategy explicit), managers must be able to identify precisely what the goals of the strategy are, and major policies that define how those goals are to be achieved. Otherwise, the process of strategy determination may degenerate into what it often becomes - the solemn recording of platitudes, useless for either the clarification of direction or the achievement of consensus. A model-based strategy statement that can be visualized and can be made “visible” through visualization. This allows managers to determine if a strategy is right for the organization based on meeting the following criteria: the strategy's internal consistency, consistency with the environment, appropriateness in light of available resources, acceptable/satisfactory degree of risk, appropriate time horizon, and work-ability. Strategy visualization can foster better shared understanding of the organization's strategy. There is no such thing as a good strategy in any absolute, objective sense. Strategy visualization enables better coordination in enacting policies that drive the right organizational behavior; and pushing down decisions to ensure timely and successful execution. Strategy visualization enables people (managers and workers) in an organization to better conceptualized the organization's strategy.
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