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strategic planning
strategic planning
benefits and limitations of strategic planning
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. Imperative strategic plan collective
Ideally, the reverse process should occur, where the tailored organization progresses from a detailed understanding of its problems, which ensures that a particular technology or technique is adapted to meet the needs of the tailored organization. This process of adaptation should also take into account the production and operation, size and workforce. Tailored organization needs to frame in terms of the needs of the tailored organization rather than the other way round. It is a decreasing function of improvement of the decision making of organization. If this were the case, imperative strategic organization would get another empirical prediction.
Therefore, imperative strategic planning management
As a part of successful organizations, the corporate organizational imperative strategic is associated with the large organizations ' growth. Organizational imperative strategic involves uncommon events and recognition of entrepreneurial firms. The central process of tailored organization s activities under the enlightenment model is to raise the imperative strategic plan collective level of the tailored organization. The starting point in the imperative strategic plan collective is the assumption of imperative strategic. Otherwise, imperative strategic planning management would prefer to take a imperative strategic planning earlier on in life so that employers could learn about their hidden abilities from work experience. Further, in depth work needed to sort out these alternative explanations of the empirical evidence. Moreover, the predictions imperative strategic planning could also explained by the hypothesis of cross effects between innate and acquired ability together with the additional assumption that the periodical increase in abilities from work
The characteristics of corporate organizational imperative strategic are new-business-venturing, innovativeness of products/services, innovation in the process, self-renewal, risk taking, proactive and competitive privilege. The information collected from sample of middle and top managers from each imperative strategic organizations through face-to-face, consultant sessions, interview, mail and e-mail about the characteristics of the organizations. The characteristics were such as size and industry; about personal characteristics of managers, such as age, formal education, years in the current imperative strategic planning; and about imperative strategic planning positions, such as hierarchical level and functional area. The formal education and experience improve the information available to organizations about managers ' ability and that there will be better matching between employees ' abilities and imperative strategic planning over time. Conditional imperative strategic dispersion increases with formal education and work experience when the imperative strategic equation does not control for imperative strategic planning positions. Furthermore, this conditional imperative strategic
...d attributes listed in this paper described the qualities which best enable future strategic leaders to be successful in a volatile, uncertain, complex and ambiguous environment. Also addressed was the need to cultivate future strategic leaders; this method conflicts with traditional methods of placing individuals in strategic positions without utilizing a vetting process. Therefore, it should be concluded that strategic leaders should be developed and identified through experience and training and lastly channeled through a tailored education process. It is also important to note, that they need to know where they're going, (vision) they need to actively communicate (communication skills) this to both their subordinates and especially to those outside the bounds of their organizational structure all while having the fortitude to see thing through (persistence).
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.
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.
Organizations evolve in a manner that is quite similar to the development of scientific knowledge.They evolve consistenly in accordance with a perspective,strategy, ideology, and mission of their own; concepts that are manifested by an integral alignment or gestalt among environmental, organizational and strategic variables. To reverse and abandon this would be exceedingly costly and would result in many discrepancies and imbalances. Major stimuli is required to prompt a revolution. An important note of caution in interpreting the findings is focus has been on significant general tendencies and not a condition that holds for all historical sequences. The findings represent significant tendencies in the sample. The study has given a small insight into the dynamics of adjustment in the corporates.
Along with the rapid development of economy and society, the companies have to own skills to adapt, cater, and transfer new knowledge, and try to modify their activities to reflect insights. Strategic management evolves
This is an excellent and thorough research on innovation and strategic management. The book has clearly outlined the management strategies that should be put in place for a smooth running of business. The authors of this book went forward and gave detailed information on innovative ideas that should be used in the modern businesses. The book has not only given out the management strategies and innovative ideas but also how both can be integrated to develop business organizations. In the book, authors have indicated that managerial strategies
Strategic renewal is another desired outcome of corporate entrepreneurship. The new economic order and business environment has created a pace of change which requires businesses to adapt more frequently and rapidly than ever before. The changes could involve corporate structure, mergers and acquisitions, addressing new market opportunities, changing product portfolios, repositioning, adapting infrastructure, or adopting new technology. Managers in an organization must be able to take stock of its situation under changing market conditions and agree on a coherent new strategy that will meet the challenges of the present as well as of the future.
Strategic management is the ongoing process of ensuring a competitively superior fit between the organization and its ever-changing environment (Kreitner, G13). Strategic management serves as the competitive edge for the entire management process. It effectively blends strategic planning, implementation, and control. Organizations that are guided by a coherent strategic framework tend to execute even the smallest details of their mission in a coordinated fashion. The strategic management process includes the formulation of a strategy/strategic plans, implementation of the strategy, and strategic control. A clear statement of the organizational mission serves as the focal point for the entire planning process. People inside and outside the organization are given a general idea of why the organization exists and where it is headed. Working from the mission statement, management formulates the organization's strategy, a general explanation of how the organization's mission is to be accomplished. Then general intentions are translated into more concrete and measurable plans, policies, and budget allocations. Implementation is the most important part of the strategy. Strategic plans must be filtered down to lower levels to be success. Strategic plans can go astray, but a formal control system helps keep strategic plans on track. In the strategic management process general managers who adopt a strategic management perspective appreciate that strategic plans require updating and fine-tuning as conditions change. Given today's competitive pressures, management cannot afford to let strategic plans sit as is. A strategic orientation encourages farsightedness. Sun Microsystems Inc. is one company that developed a strategy to become the competitive leader and become the most reliable in the net business. I will explain how Sun's strategy integrates their marketing, management, technology, and service functions into one effective strategy. First I'll discuss who Sun is and what encouraged them to develop their strategy.
It is a strategic orientation which embraces the particularly entrepreneurial aspects of firms’ strategies (Bhuian et al., 2005; Covin & Slevin, 1989; Hult et al., 2004; Lumpkin & Dess, 1996; Wiklund, 1999; Wiklund & Shepherd, 2005). Entrepreneurial orientation being a strategic approach, considerably promotes various innovations in the firm. It isconsidered as an important driver to facilitate information relating to innovation and superior business performance (McGrath, 2001). Entrepreneurial orientation refers to “the process, practices and decision making activities that lead to new entry” (Lumpkin & Dess, 1996, p. 136). Lumpkin and Dess (1996) conceptualised entrepreneurial orientation to include risk-taking, proactiveness, autonomy, innovativeness and competitive aggressiveness. Further, Morris and Paul (1987) defined entrepreneurial orientation as the tendency of top management to take calculated risks, to be innovative and to exhibit proactiveness. Entrepreneurially oriented firms modify and transform the environment and enthusiastically execute resources to accomplish uncertain opportunities. “An entrepreneurial firm is one that engages in product market innovation, undertakes somewhat risky ventures, and is first to come up with ‘proactive’ innovations, beating competitors to the punch” (Miller, 1983, p. 771). The advocates of
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.
According to Managementstudyguide.com, Strategic management process has various definitions. A process by which the manager creates a choice set of strategies for the organization that will aid to achieve better performance. It is a continuous process that evaluates business and industries in which the organization is involved.
Business plans are documents used for planning out specific details about your business.Business plans have importance and purpose for the success of the business however.Here are a few of the importance and main purpose of why we need a business plan in order to start a business. Business plan will guide us as an entrepreneur in how to handle and manage our business and company. It very useful in clarify direction , future vision , attract financing , attract team members and last but not least is to manage company.Moreover , the information gathered regarding the project is used in the Business Plan to predict viability , forecast success and propose strategies for the project .
A diversified company has two levels of strategy: business unit (or competitive) strategy and corporate (or companywide) strategy. Competitive strategy concerns how to create competitive advantage in each of the businesses in which a company competes. Corporate strategy concerns two different questions: what businesses the corporation should be in and how the corporate office should manage the array of business units.
Strategic management has shown to enhance the company’s profits and market shares. Companies need to utilize strategic management in order to improve that their performance and organizations are set. Some of the benefits of strategic management are it brings new opportunities and development, the manager is more involved in their job role, the quality of the company is enhanced, implementing models that will bring the company growth and profits, it helps the manager to be organized in order for them to be successful, it brings certainty to the company, and provides management with a guide to what the company is needing to accomplish with their goals for the future. According to Nmadu (2007) he stated “strategic management has become more important to managers in recent years and defining the mission of their organization in specific terms have made it easier for managers to give their organization a sense of purpose” (Dauda, Akingbade, and Akinlabi, 2010, p.100). Strategic management can also have its disadvantages. A few disadvantages are time and effort that is put into the company, and discussing what is important for the company’s long-term goals. Another disadvantage is managers stay on the planning stage but forget to implement and take control of the plan. If strategic management is not enforced than this can cause effects on the companies market shares, and profitability. Enforcing a strategic plan will play a major role in the companies