Then, what about strategy? What does it mean? Actually, to have an enterprise strategy is to determine the enterprise goals for a long-term. In addition, a strategy involves adopting several
2.2. Business Strategy definitions and interpretations In general terms business strategy is the direction and scope of an enterprise extended over the long term. It evolves within challenging environments namely internal and external expansion. The aim is to achieve growth and competitive advantage through judicious use and optimization of its strategic human and material resources. Johnson and Scholes (2010), in their book, Exploring Corporate Strategy define strategy thus: "Strategy is the direction and scope of an organisation over the long-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfill stakeholder expectations" (Johnson and Scholes, 2010) Therefore business strategy is about the company’s direction, scope, market positioning, competitive advantage, human and material resources, internal and external environments, and stakeholders who directly or indirectly influence the business development. Meeting the needs and exigencies of markets and fulfilling stakeholders expectations remain the focus of strategies at different levels within an
Importance of Strategic Planning Strategic planning has a focus on stabilizing the current environment, and it also support the organization's business plans and goals. Strategic planning helps to implement new projects, new technology, consolidation of data centers, data warehouses, exponential data growth, cost of ownership, and resources available in an organization to assess the future requirements. Strategic planning analyzes the business plan, potential blockage or other issues in the current architecture, processes and their implementation in new initiatives, and processes. Strategic planning helps to formulate the ideas about the key factors that are affecting the present and future development of the organization and the opportunities offered by the environment and the competence of the organization. Strategic Planning 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.
Integration Era This period of Supply Chain Management studies was highlighted with the adavancement of Electronic Data Interchange (EDI) framework in the 1960s and created through the 1990s by the presentation of Enterprise Resource Planning (ERP) systems. Globalization Era The 3rd development of Supply Chain management advancement , the globalization time , can be portrayed by the consideration given to the worldwide frameworks of provider connections and extension of supply chain past national limits and into different landmasses. Specialization Era (Phase
The Development of Strategic Information Systems Theory During the last 15 years, an area has developed within the Information Systems discipline which is generally referred to as 'strategic information systems'. It concerns itself with systems whose importance to the organisation extend beyond merely assisting it to perform its existing functions efficiently, or even just effectively. A strategic information system is instrumental in the organisation's achievement of its competitive or other strategic objectives. This paper presents a critical summary of the literature, and is accompanied by an extensive reference list. It begins by tracing the development of contemporary theory about strategic uses of corporations' internal information systems, primarily from Porter's theories relating to competitive strategy.
They are implemented organization wide and bring about a fit between business strategy, structure, culture, and the larger environment. The interventions derive from the discipline of strategic management, organization, theory, open--systems theory, and cultural anthropology. Major interventions for managing organization and environment relationships involve: 1. Integrated strategic change. This comprehensive OD intervention describes how planned change can make a value-added contribution to strategic management.
To determine the impact of planning on the success of an organisation, a thorough investigation of the aspects of planning is required. Strategic management, goal setting, the organisation’s internal and external environments, and environmental scanning influence planning, and the impacts of planning are exaggerated through entrepreneurship. Strategic management is applicable in most industries and organisations, and results in extensive planning (Nag, Hambrick & Chen, 2007). It can be defined as managerial decisions to improve an organisation’s performance, with available resources, in relation to its external environment (Nag, Hambrick & Chen, 2007; Robbins et al. 2013).
A strategic planning is the part of process strategic management that focus on formulation stage of the strategy as process clarify mission and vision, goals and objectives and develop long term strategy for run the organization or business. There also have many frameworks for strategic planning such as an assessment of strategy, formulation of strategy, execution of strategy and an evaluation of
Thus, doing research on increasing effectiveness of strategic planning on new SMEs are very crucial. McDonald, D. D(2007) cited that a strategic planning process delivers a set of projects that achieve a desired business goals. This will also make an emphasize on using strategic planning to achieve high business
It was also supported by David F., (1989) that “Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives.”  References: 1. Lamb, Robert, Boyden Competitive strategic management, Englewood Cliffs, NJ: Prentice-Hall, 1984 2. Chandler, Alfred Strategy and Structure: Chapters in the history of industrial enterprise, Doubleday, New York, 1962. 3. Modelling of Strategic Analysis in Strategic Management by Sigitas Vaitkevicius, Engineering Economics No.