StudentShare solutions
Triangle menu

Purpose of strategy - Essay Example

Not dowloaded yet

Extract of sample
Purpose of strategy

An effectively formulated strategy ensures that the resources, capabilities and competencies of the firms are integrated and allocated properly so that their alignment with the external environment works to the advantage of the firm. A basic requirement for the effective usage of strategies to the organizational advantage is the collection and analysis of a host of information about so many variables including markets, customers, technologies, changes in the worldwide financing structures and methods and also changes in the world economy. With this background this paper discusses the nature and organizational purpose of strategies. While detailing the rationale behind the strategic changes the paper also brings out a note on the formulation of strategies based on some strategic thinking process.
There are various elements that make the orgnisational systems function effectively. Out of these systems some are considered important and contribute more towards the organizational success. As such these elements are complex in nature and need to be prioritized than the others. These elements form the basis of an organizational framework and add value to the organizational existence and purpose. ...
Thus it can be said that strategy is an organizational process inseparable from the structure, behaviour and culture of the company in which it takes place.
3.0 Organisational Purpose of Strategies:
"Purpose is derived from a person's or organisation's values and beliefs. It is defined in emotional and relational terms, and remains a constant even when the environment changes over time". (Ilia Van Roon)
The strategies define the goals of an organization in terms of the direction in which the organization should march ahead. Goals are formulated in response to and in tune with the changes in the competitive environment in which the firm operates. The goals are often defined in quantitative or qualitative terms that drive organizational efforts to success. Thus strategies have the purpose of defining the organizational goals in both monetary and non-monetary terms. "Organisational vision yields an understanding of what the organisation intends to do; strategy is a translation into how the organisation intends to realise its vision"
Successful organizations always are purpose driven, having identified the organizational purposes, aligned their goals, actions, responses and relationships with the purposes. Strategies defining the organizational purposes are required to motivate the people by using goal oriented language to relate the people's cognitive and emotional sides to make them understand the organizational purposes and coordinate their efforts towards achieving them.

4.0 Nature of Strategy:
The strategy of a firm is the match between its internal capabilities and its external relationship. It also describes about the nature of its responses to its other stakeholders like the customers, ...Show more

Summary

Strategy is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage within an organizational structure. Each strategy the firm uses specifies desired outcomes and how they are to be achieved…
Author : westmortimer
Purpose of strategy essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Purpose of strategy"
with a personal 20% discount.
Grab the best paper

Related Essays

Statement of Purpose
A look into my educational qualification, work experience, and personal preferences will prove that I am well-suited to be selected for M.A in Psychology at the University. First of all, from the very beginning, I had an interest in all aspects of the society and social thinking.
4 pages (1000 words) Essay
Purpose
Further division breaks OSHA into other categories with distinct and defined roles. Hazard communication is one of the concerns succinctly described by the US labor department. According to the labor department in the United States, hazard communication is defined as a way through which the government or the sellers in certain products or goods inform their clients about their disadvantages.
15 pages (3750 words) Essay
Strategy
These alternatives were also explained in the essay. Mark & Spencer (M&S) is the second largest retail chain store in the UK and has a market share of 11.1% in clothing and 4.3%
16 pages (4000 words) Essay
Statement of purpose
n international business and globalization issues would come handy to an individual aspirant to contribute in no small measure to the related outcomes of research and study. My college degree in graphic design and advertising has essentially gone a long way in empowering me to
2 pages (500 words) Essay
Strategy
This was immediately after the Copenhagen agreement towards mitigation of environmental pollution. The company being formed in 2005 implies that it is still at its growth
2 pages (500 words) Essay
Strategy
The retailers are losing confidence in the company for the fear that whether their orders will be fulfilled in time. One of the suppliers in China has some production issues and unable to supply the
2 pages (500 words) Essay
Strategy
Another scenario is that Middle Eastern and Asian competitors may dominate European carriers. This will be characterized by open regulation of the European and American industry and decreasing customer price sensitivity. A third scenario is that champion
4 pages (1000 words) Essay
Strategy
Strategy refers to a plan of action which states how an organization will achieve its objectives and mission. The management of these activities can be termed as strategic management. There are
10 pages (2500 words) Essay
Statement of Purpose
Angola’s education system has been ruined by 26 years of civil war, and as a developing country, its education system is still facing some challenges such as professors’ quality
1 pages (250 words) Essay
Strategy
g for the same resources (customer base) and competition is nowadays based on more than just trading blocs and products, it requires strategic thinking that focusses on understanding the key drivers of the economy with a specific intent of creating new opportunities that add
7 pages (1750 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation