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Importance of strategic decision making
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“There is nothing worse than a sharp picture of a fuzzy concept,” states Adam Ansel. In this book, Strategic Thinking: A Four Piece Puzzle, it describes focus as a requirement for success. Focus is not an easy concept; it is a learnt concept, just like success. This book illustrates ways to enhance focus and achieve business success. Incorporating some of these techniques, would be beneficial for me to integrate into my organization one day. Specifically setting key success factors, and only a few, is key to every stage in a business. With an entrepreneurial spirit, it would be expected that I would have to create a set of key success factors for my company. Determining key factors involves a series of questions, such as “What must we be really good at in order to be successful?” It is difficult to not have several key success factors to want to focus on, as stated in the book. Multiple key success factors will cause a lack of focus. When I think about the big picture of my organization, I focus on providing a loving home for my animals, and healthy work environment for my employees. In order to do that, I must consider all aspects of my business, but for my organization to be successful, I must be especially good at the following: (1) marketing, (2) management/organization and (3) employee hiring.
Key objectives when focusing on marketing, include profitability, finding and maintaining consistent employees or volunteers, and community involvement. Since objectives, are the measurements I will use to track my success, it is imperative I narrow those down as well. The plan to fulfill my objectives, or how I would measure these is by hosting events, adoption services and various other tactics advertising through the use of multiple marketing avenues and the return. Once action is put forth towards this key success factor, it will determine the strengths and weaknesses of the marketing plan designed to meet the
...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).
Many people believe that in order to succeed in a business that is having difficulties, it is important to focus on a particular area in order to be better productive in each of them, and be able to reach the goal. Instead, Goldratt and Jonah demonstrates that is important to focus on the company as a whole, but at the same time, it shows that it is incorrectly to only focus in an specific manufacturing department, or one plant, or a department within the plant, because people should not be concerned in local optimums.
Be closely linked to critical success factor, i.e. the things the company has to be good at to survive. Bring in diverse people globally for a common goal, high graduation rates. enhance students career, broaden student minds and compete with their competitors. Also, they must be able to educate, inspire, recruit and innovate. Finally, companies must have an organization’s philosophy to keep the company focus on what they must do and how they must do it.
With many people trying to start their own business, only a few know what it takes to make the leap to become great. Some companies have the ability to become great, but they don’t know how to utilize what they already have.. In the Jim Collins’ novel, “Good to Great,” he does research on a variety of companies to discover what the successful ones are doing and what leads them to such success. According to Nohria, Joyce, and Robertson’s article, “What Really Works,” the company’s strategy, performance-oriented culture, and the talent of the employees are all important aspects of what it takes for a company to improve. They also promote the idea of focusing on finding new innovations that can potentially transform their industries. Nowadays,
In reality though, the cost, both in terms of time and also money, of investing in the process of preparing an involved, focused strategic vision and plan (involving the strategic thinking phase) can be very high, even prohibitive (Temkin, 2003), and as such may not be considered an immediate priority to an organisation’s management team. As well, considering internal factors, building such a strategic team can be a challenge occasioned by -among other issues- lack of appropriate/accurate information required by team to deliberate on the best strategic vision and consequent plans, or inadequate feedback of the results/effects of the existing strategy that is being executed; mistrust amongst the team members (especially if they feel that they are all not being given equal opportunity to exercise their creativity); professional competitiveness (where the chosen members of the strategic team feel that they can use the task as a means to shine), internal office politics (which can adversely affect the composition of the team), and insufficiently apportioned time to complete the strategic thinking and vision development phase and proceed with the rest of the strategic execution process.
Critical factor are limited no of key variables that is necessary for an organization, team or a project to achieve its goals. Strategy is the ways of missions and work stated in such a way to define what business the company is doing and what sort of company it is. Complete strategy of a company will define the product line, the ways through market will be reached and the image of company or team which it will provide to its customers and employees. Goals are the precise aims to be attained in a given time frame. (Bullen and rockhart, 1981,
In writing the business plan, I determined our target market and our marketing strategy to gain a share of the market. I also had t...
The history of strategic planning begins in the military. According to Webster's New World Dictionary, strategy is "the science of planning and directing large-scale military operations, of maneuvering forces into the most advantageous position prior to actual engagement with the enemy" (Guralnic, 1986). Although our understanding of strategy and applying strategic planning in management has been transformed from a point of military maneuvering to one that aim’s to achieve and gives a structured framework to reach a competitive advantage.
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.
Facing to more complex business environment, systematically marketing plans are important to organizations in terms of maintaining a high level of operating efficiency and achieving goals fully. According to Sally and John (1996:3), marketing plans are “the written document or blueprint for implementing and controlling an organization’s marketing activities related to a particular marketing strategy” (Sally, D., Lyndon S., & John, B., 1996: 3). A successful marketing plan is able to improve organizations’ profits and growth, uses in objective setting and monitors results (Subash Jain, Michael D. Clemes, Gregory Brush, 2008: 5)
The strategy book by Max McKeown is an excellent book for managers or leaders in general to read and follow in order to create a unique strategy for their business. The strategy book includes examples of strategies that were previously constructed and followed by small, medium and large companies. The book gives readers the chance to know the strategies that were employed by different types and sizes of business and how successful they were. These real life cases are what make the book so interesting and informative. The book is divided into different parts that inform the readers about formulating and then following the appropriate strategy.
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.
The major objective of any company is to make profits. Marketing is responsible for identifying a company’s customers anticipating their needs and wants, satisfying theses needs while keeping the its major goal which maximizing profits
Marketing can play a crucial role in searching and discovering efforts and for identifying new markets to promote an event. It should include other classic elements and marketing such as promotional campaigns, advertising and telemarketing to bring all of the event goals to life.
Being a student of success you will find there are varying traits but consistent ones, that lean toward success. It is your personality, your inner drive that will make you successful. Once you identify those traits, your journey as an entrepreneur will lead to success. Here now is THE list. See what you have and what you will need to acquire to achieve: