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Importance of setting goals
Importance of setting goals
Importance of setting goals
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Introduction
After examining different theories of organizational strategy we were able to apply each case to our company and work. We also learned that there are two dominant methodologies, categorized as planned/analytical and emergent approaches. These strategies provide much knowledge and advice as to how to improve our organization. However, it is important to remember that these theories are not perfect. They do not encompass every organizational situation and there are a lot of circumstantial assumptions made as well. In the following discussion we will analyze the advantages and disadvantages between these strategic theories. In addition I will reflect on how these approaches may be used in my own real world situation.
The planned/analytical approach
This type of approach is deliberate—meaning it has been realized as intended. There are variations of this of course. According to Mintzberg (1985), for the approach to be perfectly deliberate there must be three conditions met. (1) the organizations intentions and goals are ironed out in layers of detail so that there is no doubt when decisions are made. (2) This of course mandates that almost all actors be aware and accept the course of the organization. (3) Lastly, the goals/intentions of the organization must be accomplished exactly as planned. There can be no external forces (i.e. political, technological) involved in this. The environment must have been completely controlled by the organization with no irregular changes.
Some advantages of this approach:
• If the strategy is formulated with a skillful and clear direction then it may offer a more direct route to your organizations objective.
• Provides a rational and systematic process to set well-defined objectives and f...
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...ecret formula for success. We must take this newfound knowledge-- like the strategies described above, and mold them to fit in and improve our organization.
References
Evans, N. et al. (2003) Strategic Management for Travel and Tourism. Oxford, UK: Butterworth-Heinemann
Grundy, T. & Brown, L. (2002) Strategic Project Management: Creating Organizational Breakthroughs. London, UK: Thomson Learning.
Hines T. (2004) Supply Chain Strategies: Customer Driven and Customer focused. Oxford, UK: Elsevier Butterworth-Heinemann.
Mintzberg, H. & Waters, J.A. (1985) ‘Of strategies, deliberate and emergent’, Strategic Management Journal, 6: 257-272. Retrieved from http://sfxhosted.exlibrisgroup.com.ezproxy.liv.ac.uk/lpu?title=strategic+management+journal&volume=6&issue=3&spage=257&date=1985.
Stonehouse, G. & Houston, B. (2002) Business Strategy. Oxford, UK: Butterworth-Heinemann.
...back and learning, so that the strategy can be carried out on the whole organisation.
As per Henry Mintzberg, former president of the Strategic Management Society, “strategy cannot be planned because planning is about analysis and strategy is about synthesis. Strategic planning involves a structure or framework, a set of procedures both formal and informal, and of course content. Beyond these basic elements, the underlying assumptions about strategic planning are that the future can be anticipated, forecasted, managed or even controlled, and that the best way to do so is to have a formal and integrated plan about it in place. The process of planning itself may turn out to be more important than the results, and that process requires both analysis and synthesis. Planning simply introduces a formal “discipline” for conducting long-term thinking about an institution, and for recognizing opportunities in and for minimizing risks from the external and internal environments.
Arthur, A., Thompson, Margaret, A., Peteraf, John, E. Gamble, A., J., Strickland III. (2014). Crafting & Executing Strategy: The Quest for Competitive Advantage 19e: Concepts & Cases. C6-C25.
Wit, BD & Meyer, R 2010, Strategy: process, content, context : an international perspective, Cengage Learning EMEA, London.
Gray, C., Larson, E. (2008). Project Management: The managerial Process. New York, NY: The McGraw-Hill Companies Inc.
7. Thompson, A.A., Strickland, A.J. and Gamble, J.E. (2007), Crafting and Executing Strategy (15th ed), McGraw-Hill, New York, NY.
There are various approaches towards a certain problem or strategy. Some approaches could fit in a given situation and not in another. Analytical/planned and emergent approaches have some differences as well as benefits and drawbacks. Analytical approach is that in which the vision, objectives and intentions of a firm are clearly stipulated and made known to the actors or staff as a way of realizing a certain outcome. It requires a clear vision, plans as well as formal controls aimed at enforcing them in a predictable environment. In this approach, external factors such as advancement in technology and change
Numerous definitions of strategy exist, in most circumstances strategy can loosely be explained as an overall plan of deployment of resources to ascertain a favourable position within a market (Zablah, Bellenger and Johnston 2004; Grant 1994, p 14). Further, imbedded in many successful organisations are strategies, the importance of which is to remain relevant in the market, and successful in the various attributes of business; profiteering, employee motivation, maintaining sustainable core competencies, effectiveness in operation, or efficiency in the conduction of operations. Therefore challenges involved in the formulation and implementation of a strategy can revolve around the overall external market, as well as internal
Thompson, A.A., Strickland, A.J., & Gamble, J. E. (2010). Crafting and executing strategy: The quest for competitive advantage: Concepts and cases: 2009 custom edition (17th ed.). New York: McGraw-Hill-Irwin
John G. S., 2008: Strategically thinking about the subject of Strategy [e-journal] 9(4) p.2 Available through:
There are different types of strategic planning that are currently in use, since this is a widely debated area of management. However, it is concluded that there are two main schools of thought, the prescriptive approach or the emergent approach (Lynch, 2012). As defined by Lynch, (2012) prescriptive strategic planning is the term given to a strategy whereby the objective of the strategy is defined in advance and the main elements are designed and develop...
Strategy implementation involves establishing programs and tactics to create a series of new organizational activities, budgets to allocate funds to the new activities, and procedures to handle the day-to-day details (Wheelen, Hunger, Hoffman, & Bamford, 2015). Essentially, after a company determines the direction of their program, it is the how that particular direction will be accomplished. It also answers the question of what resources must be moved or sold to meet the allocated budget. For example, Ford Motor Company set up a program with the sole purpose of discovering alternatives to the foam that was being used in the manufacturing of car seats (Ford Motor Company, n.d.). While this program has a great deal of potential, there are different aspects that would have to be measured and verified before it can be considered a successful course of action by the company.
Project management involves all activities that encompass scheduling, planning, and controlling projects. A successful project manager ensure that an organization’s resources are being used both efficiently and effectively. Most projects need to be uniquely developed require a sense of customization and the ability to adapt to any posed challenges. The scope of effective project management includes defining what the project is and what is being expected to be accomplished. Projects are imposed to fulfill a certain need and project managers must have the ability to create the proper definition. Goals and the means used to attain those goals have to be clearly stated. Project Managers must also have the ability to plan
When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.
“Project management is the application of knowledge, skills, tools, and techniques to organisational and project activities to achieve the aims of an organisation through projects” (PMI, 2003).