APPROACH STATEMENT: - Research Paper Example

Approach ment Approach ment An approach ment is a document containing a series of steps, rules and regulations. Thesesteps give a detailed description of how a project accomplishes its objectives and goals. It is resourceful in helping a project manager to carry out a project within a specified time period, scope, resource constraints, and cost (Andrews, 2009, p. 34).Strategies are a series of steps that are documented to enable fulfillment of a goal. The strategy selected should specify the type of action that happens in each state of a situation.

There are various strategies designed to aid in the definition of the approach statement. These strategies help reduce the completion times of projects, maximize output and reduce costs (Porter, 1999, p. 44). Some strategies employed are:a) Intensive strategyThese are referred to as intensive due to the amount of effort that is required to improve the competitive position with existing domains. With this type of strategy some classifications are in order.i. Market penetration- its objective is to add value to the market share for the existing goods or services currently in the market through higher marketing efforts.ii. Market development- this involves bringing into new surroundings an already existent product or service.iii. Product development- this is a strategy that has the objectives of increasing sales by either improving or modifying the goods or services.

It also involves research and development expenditures.b) People strategiesThis is involved in dealing with skills, strengths, attitude, and energies possessed by employees. It seeks to find out how these aspects can be utilized for development and growth. Companies and people working as a team grow together. This is important in the growth of a company where employee motivation is vital. If the employees are able to grow and improve skills, a company’s output may increase.c) Finance strategiesThis describes the ways in which companies monitor, utilize and manage finance resources for its growth and development.

It implements skills for accounting, budget control, quality of systems, credit and cash management, access to capital, control over inventory and purchasing. This is important in looking for persons willing to invest by funding companies. It also helps in budget planning, salaries and other costs.d) Organization strategiesThis brings to life everything within the organization. It contains aspects of policies, systems, structures, activities and procedures of a business. It also dictates the way in which it exercises power, communicates, makes decisions, integrates and coordinates its procedures and activities.

This is important in planning for organizations policies, how to deal with discipline cases for all personnel at all levels.e) Dissemination strategiesThis involves what information is to be communicated and its presentation to users. This is also involved in observing the destination of the information and the time the information is to be communicated.f) Replication as a strategyThis is defined as a way of creating and operating a big number of similar outlets where a service or a product is delivered.

This is important in broadening the activities of an enterprise. It reaches a wider audience and ultimately increases sales.A timeline can be described as a timetable. It is a schedule for a set of activities. It represents a key of events that must take place within duration. It is affected by aspects of inadequate resources, people, insufficient funds and geographical factors (Chandler, 2010, p. 45).ConclusionAn organization seeking to indulge in a project has to take into consideration the above discussed strategies.

An approach statement describes how an organization is able to counter attack a problem using the above strategies. The strategies are essential in handling different problems arising at different levels of the organization structure.ReferencesAndrews, K. (2009). Strategic Planning for Public and Nonprofit Organizations. Jossey-Bass. Chandler, A. (2010). The Rise and Fall of Strategic Planning. Basic BooksPorter, M. (1999). Strategy and Structure: Chapters in the History of the American Industrial Enterprise. MIT.