What I benefit from this course strategy management class is knowing. The strategic management is consisting of the analysis, decisions, and actions an organization undertakes to create and sustain competitive advantages. strategic management analyses. concern with overall objectives, involves multiple stakeholders, incorporates short and long term perspectives, recognizes tradeoffs between effectiveness and efficiency. The strategic management analysis, formulation, and implementation the challenge managers face of both aligning resources to take advantage of existing product markets as well as proactively exploring new opportunities.
According to Richard Brisebois, Greg Boyd, and Ziad Shadid, “IT Governance is needed to ensure that the investments in IT generate value-reward-and mitigate IT-associated risks, avoiding failure. IT is central to organizational success – effective and efficient delivery of services and goods – especially when the IT is designed to bring about change in an organization. This change process, commonly referred to as “business transformation,” is now the prime enabler of new business models both in the private and public sectors.” (Brisebois, Boyd, & Ziad, n.d.). IM/IT priorities recently changed to concentrate on the integration of systems across several facilities, computerization of patient records and improve decision support for clinicians
This is important because it allows all stakeholders have a clear understanding of who should be involved. According to Bryson, the organization’s key decision makers should be involved, and some individual or some group must initiate and champion the strategic planning process. The agreement should be clear, for example state the purpose, the people involved, steps to be followed and functions, to mention a few. The process of an initial agreement starts by initiating the process itself. Then, introducing the concepts of strategic planning to your organization and developing an understanding of what strategic planning means in practice versus in theory.
With these in place and with the help of business planning, goals and objectives are aligned with the mission, vision and values of an organization. • Clear Goals and Objectives- Clear goals and objectives in business planning ensure that everyone is aware of the various aspects of projects they are involved with and this helps to achieve greater efficiency and uniformity amongst the work groups. In addition, they also provide an indication of the resources that will be necessary for success. • Focused Strategies- Planning facilitates the development of strategies in a way to best ensure the achievement of the goals and objectives established. They are designed to overcome your weaknesses and threats and build ... ... middle of paper ... ...in case one of the actual plans doesn’t work out.
Then it will evaluate PMS’s impact on resource allocation and business process improvements and lastly, it will critically discuss PMS’s role in measuring accountability and implementing best practices. 2. IMPACT OF PMS IN ALIGNING PROJECTS TO ORGANIZATION’S KEY OBJECTIVE AND BUSINESS STRATEGY For large organizations such as the United Nations or Shell that carries out projects in multi-project environment, having firm measure of control and tracking of their project portfolio performance will be critical in meeting key objectives or business strategies. With its project scheduling and critical path analysis features, PMS emphasizes the alignment of projects’ progress and eventual success, to match the organizations overall goal or business strategy. Recently developed software such as i-N... ... middle of paper ... ...simple and fast, which is essential in lowering the turnaround time.
3. Aligning IT infrastructure and operations with the business goals In this part, I would analyze the process of aligning IT infrastructure and operations with business goal in details. By looking through the caselets and power points that have been given, my opinion is that IT governance plays the most important role to ensure that IT is aligned with the business goals, by implementing effective IT governance, the organizations can gain the maximum value from IT, so that the business goal on IT would be achieved. I would define the background of IT governance and the process of building effective IT governance. 3.1 Background of IT governance IT governance is the organizational capacity exercised by the board, executive management and IT
TASK 3 DEVELOPMENT OF VISION, MISSION, OBJECTIVES AND MEASURES OF THOSE FACTORS Strategic marketing planning contains vision, mission and objectives, which principally should be realistic and logical in terms of organizational goals and individual goals. In reality, vision, mission and goals are the cornerstone of the whole planning. TASK 3.1 VISION, MISSION AND OBJECTIVES Vision, In strategic planning the vision has a significant role for it is a set target or the destination of a strategic planning journey. According to Kotelnikov (2010) Vision refers to the category of intentions that are broad, all-inclusive and forward-thinking. Mission, The miss... ... middle of paper ... ...ion and data.
According to Piscopo 2015, it is extremely critical for organizations to effectively manage their stakeholders. This can only be achieved by having a good stakeholder management strategy that identifies and documents the steps to be undertaken in order to maximize support with an aim to minimize negative impacts of stakeholders throughout the overall change initiative. Furthermore, Lienert n.d stated that the aim of the stakeholder strategy is to structure the findings of the previous approaches through the development of a Stakeholder Participation Matrix. This helps management to be aware of the desired roles and characteristics of each stakeholder and also the appropriate timing to involve them. As such, CIBC FirstCaribbean International
Elements of Effective Organizations There are many different components necessary to have an effective organizational structure. It is important as well for a company to have various communication strategies within an effective organization. Various principles of effective management exists and should be assessed throughout the organization on a regular basis along with the decision-making and problem-solving processes that are necessary for effective organizations. Upon evaluation of this criteria and data, a suggested leadership approach can be made with detailed support as to why this would be the best way for the organization to proceed. Necessary Components It is most important for the organization to have an identity of its own.
The main aim of this paper is to provide a full definition and implementation of the project strategy concept. Following the new trend, the project objective is not just to build the product but also to build it in a form that will create competitive advantage. A good project strategy creates this advantage well. Project strategy should be about winning, creating value, effectiveness and efficiency. It is a construct that helps project managers and organizations initiate, plan and execute projects with the aim of getting business result and longer term sustainability.