Final Strategic Plan and Presentation
Effective cross-functional teaming is vital to the success of a company. Successful companies possess common traits in how its employees execute on tactics. A common trait employees at prosperous companies have is the ability to collaborate and work well with other employees in different departments that they rely upon for support or assistance to complete a common goal or objective. “Functional tactics are the key, routine activities that must be undertaken in each functional area—marketing, finance, production/operations, R&D, and human resource management—to provide the business’s products and services” (Pearce & Robinson, 2009, p. 309, para 4). Functional managers who provide clear functional tactics enable their employees. Clear functional tactics and direction enable employees to understand what they need to do in their day-to-day work and thereby strengthens accountability.
In a present scenario, strategic direction plays a vital role in the overall success or failure of a business organization (Joyce & Woods, 2001). Key strategic elements guide the strategic direction of the organization. Alignment between strategic direction and business activities is essential to ensure the attainment of vision and mission.
Balanced scoreboard, and S.W.O.T.T. began in 2001, the brainchild of Lennart Norberg and Terry Brown.
STRENGTHS WEAKNESSES OPPORTUNITIES THREATS
FINANCIAL financial strengths financial weaknesses financial opportunities financial threats
CUSTOMER customer strengths customer weaknesses customer opportunities customer threats
INTERNAL PROCESSES internal strengths internal weaknesses internal opportunities internal threats
PEOPLE1 people strengths people weaknesses people op...
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...en these two areas is essential. Mission, vision and values are the key factor that directs the business strategies of the organization. Planning, decisions and activities are based on mission, vision and values. Organizational strategies assist in developing competitive advantage. All these tools assist the company to satisfy the customers by fulfilling their unmet needs. With the help of these tools, the organization maintains a strong bond with the customers. Satisfied customer assists the company to develop a competitive advantage. By executing the customer relationship tools, the organization has developed its competitive advantage.
References
Carry, L. (March 13, 2014). Business and Industry Portal. Retrieved from http://www.business.qld.gov.av
Hall, C. (October 25, 2011). Five steps to a strategic plan. Retrieved from http://www.forbes.com
a. Basically, corporation strategy demonstrates a corporation’s overall direction in the light of its general mindset toward growth and the management of its businesses and product portfolios. There are three crucial categories, which are stability, growth, and retrenchment, that involve within corporation strategy. Additionally, business strategy often occurs at the business unit or product level, and it highlights the improvement of the competitive position of a company’s products and service in the particular market segment served by the business unit. Competitive and cooperative strategies are two main categories that match within business strategy. Furthermore, functional strategy is the method that through a functional area to
The method that an organization selects, develops, and executes projects is based on the goals, vision, and mission of the company. Goals or objectives are developed to support the mission and vision of a business, and provide staff members a means to conduct business and utilize resources (Vaidyanathan, 2013). Organizational strategy is the plan or approach that a company exercises to achieve the goals, objectives, vision, and mission of the company (Vaidyanathan, 2013). All of these elements provide staff members guidance and direction on how business should be conducted within the organization and furnish objectives for performance.
My research focused on the complexity of strategy team activities and effective teaming, (Paroutis, Heracleous, & Angwin, 2013). Strategy team activities incorporate seven categories, each being essential to effective strategizing, (Paroutis, et al., 2013). The initial stages of strategizing, concentrate on strategy reports and the implementation of strategy tools, (Paroutis, et al., 2013). The teams also focus on reflecting, to view past practices and devising new innovative applications to preexisting problems, (Paroutis, et al., 2013). The initial stages of strategizing spark new ideas, through problem solving and brainstorming, (Paroutis, et al., 2013). The strategy teams engage in supportive activities sharing their knowledge and
Creating and managing effective teams in today’s work environment is much different than it was just a short time ago. With each generation of American workers come new ideas, rules, and methodologies that must be considered when developing an effective team. Some of the newer ideas may have been foreign to managers even ten years ago. An example of this is that many companies today are becoming more socially responsible. A recent article in Incentive states, “Social responsibility, it seems, is the new signing bonus” (Flanagan, p4, 2006). Rarely are managers given a perfect set of employees, a perfect environment, or a team without conflict in order to develop an effective team. These issues make it more important than ever to be able to effectively manage these teams. The simulation for Luxurion was an excellent example of managing a team well, even when the team is not put together perfectly. This paper will examine what team member were chosen, why these choices were made, issues that were worked through during the simulation and the final outcome after completing the simulation.
This would pull the company together strengthening it in the face of incoming competition while keeping all its existing structure and value system intact. Rather than take away responsibility from the employees, the functional specialists together with the functional operators’ level would introduce dynamic measures of collecting and coordinating operations across the whole company and thus, not only giving direction but keeping everybody well informed about market conditions/trends and company focussed and prepared for future changes. Teams will then be able to take better decisions in view of the overall company’s short and long- run strategy. Knowing that the company is stable and well prepared for future contingencies boosts the employees’ and shareholders’ confidence.
In today’s environment of companies doing business in a global economy, teamwork is essential. “Employees working in effective teams help increase productivity, employee involvement, and contribution, while reducing costs and flattening organizational structure (Adams, 2003). In contrast, ineffective teams can cause increased costs, waste valuable time, and contribute to losses in market share (Ross, Jones, & Adams, 2008)” quotes Jean McAtavey and Irena Nikolovska in an article in Human Resource Development Quarterly. Today, teamwork is found in virtually all workplaces.
Furthermore, multi-disciplinary teams also need to be constantly reflecting for the benefit of the child as they have many roles and responsibilities. Multidisciplinary teams are a professional group of people who all share a common goal, some of these may include people who work together in the school setting, for example, social workers, teachers and psychiatrists, health visitors and the Team Around the Child. Communication between these teams is fundamental because it firstly ensures the child has the best opportunities and support made especially for the child in an efficient manner, yet most importantly it ensures that deaths like Victoria Climbié are dealt with. Victoria Climbié’s death encouraged a huge appraisal led by Lord Laming.
The managers must set organizational goals aligned with the company mission. This will provide a strategy for achieving those goals. For example, planning can be seen at every level such as creating goals for sales as well as for the customer experience (Higgins, 1994).
Companies that have been successful in organizing hi performing teams have reaped the benefits of having appropriate team cohesiveness. However, contrary for companies that have tried and failed at the everchanging task of keeping the lines of communication open between employees and leaders to reach a final product. It is not wise for a leader to place emphasis on team member relationships alone, but more importantly on problem solving techniques and motivating each individual and the team as a whole. Organizations that have set out to improve the quality of the products and business structu...
The key role in solving strategic tasks belongs to strategic planning, which is the process of developing and maintaining strategic balance between organization’s goals and resources in the changing market environment. The purpose of the strategic planning is to determine the most promising fields of activity providing its growth and prosperity. Strategic planning is a component of a broader concept “strategic management”. All four management functions (planning, organizing, leading and controlling), when talking about strategic management include strategic orientation. When viewing strategic planning from the highest level possible within a company, the planning function is the area that stands out as the most important area which involves a great deal of development and focus.
...c management or planning presents a structure or agenda for dealing with issues and solving problems, therefore, understanding potential risks or pitfalls of strategic management and being prepared to deal with them is critical and vital to success. Strategic management not only permits top leaders and managers to be more proactive than reactive in building or developing their own potential or outlook in an organization, and it also lets them to make the first move and influence activities, consequently, executives and management can control or in charge of the company’s own future, and achieve its main goals and objectives. Overall, increasing cost-effectiveness and efficiency, improving the value for its stakeholders, and advancing customer services and management excellence are the key objectives of strategic management and decision making in an organization.
A successful business strategy will identify changes in the external trends in the market place. Plan out what the company’s future direction is. Set out the goals for the management team. It will identify a vision of where the company wants to be in the future. Keep all employees informed of the direction of the company.
An organisation’s mission is the back bone of all strategic decisions; the mission will have an influence on all activities performed within the organisation, because if they aren’t achieving their mission an organisation is failing. The long term strategic goals of an organisation should directly aim to achieve their mission and these goals are what performance can be measured off. Without specific goals attempting to measure performance is pointless, and identifying who or what the main focus of these goals is the key to optimisation.
Whit the rise of globalization and technology companies are looking for every advantage to gain a strategic advantage. Having a vision, mission and values statement are one way companies have attained these advantages. A vision is a long term aspiration of where the company wants to go. A mission is a long term goal, which is directed toward the stakeholders, and shows what the company wants to accomplish. Values are the principals on which the company operates. Having Vision, Mission and Value statements in place not only gives employees direction but it lets everyone else know what your company is about. Leaders within organizations who have these statements need to ensure full support so the company can continue to maintain a competitive
Strategic implementation is a critical factor when making decisions regarding issues that affect the vision, mission, or objectives of an organization. Strategies are often implemented in accordance to the culture of the organization, the nature of control systems, the stakeholders, and the nature of the organizational design. In order to achieve success in the implementation of strategies, the structure of these factors must work in coordination with one another. For instance, the strategic vision of CPK lies in the creation of a globally recognized brand name and therefore, all of the goals and objectives of CPK must be directed in realizing that the company achieves this objective (California Pizza Kitchen 2011). Furthermore, the vision statement is inclusive in itself in that it communicates the message in a directional, flexible, and focused manner.