Strategy and practise Essay Example | Topics and Well Written Essays - 2500 words

Strategy and practise - Essay ExampleStrategic decisions ar concerned with the takings of setting a direction for the cheek to move or the course the organization will line Though very crucial, yet preparing strategic moves for future a lot is not based on hard fact, but on presumptions. It involves past experience, forecasting and surround-effect. Strategic management can be described as what Bernard called maintaining the organization in operation2. For any organization to function effectively three main aspects are criticalContribution from the concerned helps in widening the thoughts, assigning responsibilities helps in implementing and constantly monitoring the results and feedback helps in devising a still better strategy.It is said that organizations are not passive components. They are live, full of activity and environment-responsive equal living beings. Organizations do acquire character and develop a typical personality with time and we tend to make an image of the e mployee depending on the organization he/ she works for. This very personality of the organization considerably influences the functions of the organization in the long run. For example we tend to remember some companies as employee friendly, as well(p) paying, as investor friendly, as market friendly, as customer friendly etc. depending upon their past performances and behavior. To meet and exceed customer joy, the business team needs to follow an overall organizational strategy.Traditionally maximizing profits has been considered to be the objective of any organization. Not any more.This criteria has been discarded. Now organizations are supposed to have multiple objectives, financial as well as non-monetary. There are short-term objectives as well as long-term ones. Strategists are supposed to prioritize all such objectives, so that there is clarity and ease of decision making in situations where there is an apparent clash of objectives. Situations like these at times present exam times for organization. Failure doesnt come with a one off decision, in fact it is the result of continuous interactions in a system. It has structure and sequence. John Martin, CEO, greaser Bell says, When you are on the right road and the wind is behind you, you can make all kinds of mistakes.3 And the real test comes in overpowering these mistakes and taking corrective and preventive steps. Strategic intent cannot be planned all in advance. It has to be a continuous evolutionary process depending upon the experiences. hydrogen Ford say, Failure is the opportunity to begin again more intelligently4 Basic Building Blocks of Strategy1. Environment Analysis2. Doing a plodding Analysis3. Preparing a Business Policy.Environment Analysis It involves studying and analyzing the surroundings to identify the competitors, the threats and opportunities. Maslows hierarchy of needs argued that the driving force for human actions is the urge for satisfaction of one or the other need. T hese needs go on changing depending upon a number of factors. In fact the needs of consumer/ customer and those of the organization are inter-linked because organization too is an active component so needs of the