Figure 1 is an illustration of what constitutes the strategic process with each of the stages thoroughly investigated against internal and external factors of the organization. The formulation stage is critical in identifying a roadmap for an organization. At this stage, there are usually senior executives or policy makers. Once their work is complete the strategy is cascaded down for implementation usually to line managers and public officials in the case of policy decisions who implement according their understanding and interpretation of the main aims and objectives of the strategy. This second stage of the strategic process forms the basis for this study.
The last stage of the strategic process is evaluation; an assessment of the design and the implementation of the strategic process. It is further indication on the interconnectedness of the two preceding stages and therefore the failure of one affects the other. This part is normally done once the programmes are implemented and this stage seeks to evaluate whether or not the aims of the strategy were followed and to also document lessons learnt in the process. In order for a policy or strategy to be effectively evaluated and ensure that stated goals and objectives are achieved, the formulation and implementation stages must be periodically evaluated and corrective measures made to them. The focus of this research will not be on the evaluation stage of the strategic process not only because there are extensive tools and frameworks which exist for evaluation, but also that evaluation should be a continuous process within all the stages. Evaluation should therefore be done throughout the process in order to achieve agreed results.
3.2 Strategic Challenges
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...ly because they do not want to be involved but also that they “lack the knowledge and skill to translate strategy into action” (Freedman: 26). This shortcoming results to their lack of coordination and supervision and they do not “adequately oversee the on-going actioning of the plan’s recommendations.” When it comes to implementation, top management not only fails to be involved but also does not provide the needed supporting structures such as “communication, resources and managerial support” (Simkin: 121-122). Alashloo, Castka and Sharp (2005) revealed that there are four impeders which play a critical role in the success or failure of the strategy. They grouped impeders by previous researcher and found that all the factors can be grouped as: Planning, organizational and managerial and individual issues. The following diagram details the implementation impeders.
Background Information In implementing a strategic plan for Coastal Medical Center, our consulting team has conducted many analyses and formed numerous strategies in order for Coastal Medical Center to be successful. Such assessments include an internal analysis, external analysis, gap analysis, and SWOT analysis. In conducting these analyses, our consulting team was able to better understand the internal environment, external environment, where the organization currently stands in terms of performance, and the major strengths, weaknesses, opportunities and threats that oppose the Coastal Medical Center. From our inquiry, we will be able to establish a strategic plan that best fits the organization’s needs.
For any strategic plan to be successful there should be effective communication between the management and the employees. The department heads and managers should communicate to their subordinates the significance of their input in the development of the strategic plan for the company.The management should engage the staff in all the phases of the strategic plan as their perspective is valuable to the company. Employees will then be allowed to offer their input through different platforms, such as focus groups, surveys or questionnaires. This communication and engagement within the organization will give the management a clear picture of the strengths and weaknesses of the company. For the strategic plan to be successful, both the management and the employees of the company should be involved in the implementation process.
After analyzing the Coastal Medical Center, it is apparent that the employees and staff have no conception of the mission, vision, and values of this health care facility. In addition to this lack of structure, CMC has many projects in the midst of production that lack support of a common goal, employees are unsatisfied with their jobs, the two boards lack ability to agree on strategic decisions for the organization,, and the medical center has a dismal reputation when it comes to quality care.
Most of the common activities in our daily life present an opportunity to negotiate, whether or not we realise it. Meta-reflecting upon my negotiation experiences during the class and other activities have led me to identify few common themes. In this assignment, the two themes I will be discussing are (1) the importance of being clear on the strategic intent and big picture thinking, and (2) the importance of managing the negotiation process through understanding the various phases and visualising negotiation as a train journey.
Fall prevention needs to be the target of many hospitals. Falls occur each year in hospitals and can be detrimental to the patient, especially the elderly patient (Peel, Travers, Bell, & Smith, 2010). Falls can lead to broken bones, longer stays in the hospital and potentially can lead to death. Falls are expensive to both the patient and the hospital (Trepanier & Hilsenbeck, 2014). This paper would like to take a look at a strategic action plan that would help to prevent falls. This plan of action will includes organizational changes that are geared towards fall prevention. The second part of this paper will include an evaluation plan that is designed to measure and monitor the plan.
New businesses will take longer to thrive with the United States falling economy. The faltering job market and the deepening slump in housing threaten to hurt consumer spending. Consumers are becoming more conscious of their spending and therefore using cash to pay for smaller necessary purchases. The cost of entertainment and other presumed luxuries may be pushed to the background by most families, when having to choose whether to pay for a bill or treat the family out. Thriving businesses will understand the need to provide a service or product at affordable prices.
The scope of this essay is to address coherently with examples a number of key areas of strategy; strategy and its importance, challenges in relation to development and implementation of strategies, and a discussion of the relevance of strategy in the modern
An organization must use a strategic marketing process to distribute its marketing mix resources to reach its target markets. The elements of a proper marketing mix are price, product, place, and promotion. They are the four P’s of the marketing process (Goi, 2009)
There are different types of strategic planning that are currently in use, since this is a widely debated area of management. However, it is concluded that there are two main schools of thought, the prescriptive approach or the emergent approach (Lynch, 2012). As defined by Lynch, (2012) prescriptive strategic planning is the term given to a strategy whereby the objective of the strategy is defined in advance and the main elements are designed and develop...
Strategic management is a disciplined effort or control to make necessary decisions that have an effect on a business or an organization; the aim of strategic management is mainly to develop new, innovative or diverse ideas and opportunities for potential or development, and facilitates or assists an organization to achieve its goals (SM, 2010). In reality, strategic management not only can be used or applied to determine mission, vision and values or objectives, but it also establishes roles and responsibilities or timelines in a business (David, 2009). In the following sections, this study will focus on and examine the nature of strategy formulation, implementation, and evaluation activities, and analyze the potential pitfalls or risks in using a strategic-management approach to decision making.
The strategic planning process is the formulation of the company’s major objectives and execution plans. This process is of particular interest in GE. Strategy formulation is the process of choosing the best methods for a company where customer needs; competitive position and internal capability are the three factors that play the main role in strategic planning. Every manager needs to have at least a simple notion of strategic planning to formulate his strategic plans. Strategic Planning is a wide and complex subject. Strategic Management background is an essential basis of any organization.
Strategic management is the “identification of one or more sustainable competitive advantages a firm has in the markets it serves (or intends to serve), and allocation of resources to exploit them” (Business Dictionary, 2016). In order for industries and organizations to thrive, they must have strategies in place and strategic management processes to stay competitive, profitable, attractive to stakeholders, and to sustain advantages that set them apart from other competitors (Barney & Hesterly, 2015). The strategic management process involves a set of procedures that lead to choosing a strategy that will eventually lead to competitive advantage (Barney & Hesterly, 2015). The six steps of the strategic management process involves defining
This essay will look at strategic management processes and how they can be used to improve organisational performance; it will also describe how strategic management processes have the ability to lower organisational performance.
Strategic implementation entails the application of deliberate management processes to achieve the desired results. Predominantly, the process is achieved through the selection of implementation approaches that are related to an organization’s structure, management of human resources, developing, decision-making and information processes, allocating resources, determining desirable ...
The four steps that lead managers and the firm through the strategic planning process are first defining the company’s mission, then setting objectives and goals, next designing a business portfolio and lastly developing functional plans. The first step involves focusing on consumers’ needs and wants. Setting forth a market oriented mission that organizations want to reach based on consumers of the environment. After finding the mission, organizations then proceed to put together supportive objectives for every level of management to help achieve its mission. Next the company has to design a business portfolio evaluating all of its current business and future business by coming up with