Organizational stability And Resilence Flashcards
Purpose of Strategy in Organizations
Clarity about organizational goals Buy in for change efforts Consistency of messaging Need for innovation Public demand for transparency
Strategy is
The evolution of original ideas
Stemming from a vision of what can be
Recognizing ever-changing markets, conditions and opportunities
A set of ideas that creates competitive advantage
Long Term Goals
And Innovative Goals
Strategic planning process
1 analyze internal and external environment
2 identify needs and opportunities
3 derive strategic goals
4 identify and select projects and tactics
5. Communicate cultivate and maintain buy-in
6 execute Strategies
7 evaluate
SWOT Analysis
Internal- Stengths and weaknesses
External-opportunities and threats
BCG matrix
?, Dog, cash cow, star
Strategic Ideology components
1 Shared Values: we will treat each other with dignity, trust, and respect
2 Business Philosophy:
celebrate failure: what was learned is key to success
Surprise the customer with more than they expected for their money
Strategic Planning Levels within an organization
Corporate level strategy
Business unit level strategy
Functional level strategy
Corporate-Level Strategy
Multi-Business Corporation
Business unit level strategy
Strategic business unit
SBU
Strategic business unit
Functional level strategy
Examples include:
research and development marketing
information technology
human resources
Vision
Long-term future state
Short simple inspiring statement
Ex. a world without poverty
Mission
Meaning difference in each organization
Purpose: why firm exists, what it does
EX charity: provide jobs for unemployed
Planned Strategy
Strategic intent
Emergent strategy
Trial and error experimentation
