UNIT 8 - Why does strategic direction matter Flashcards
descirbe strategic descisons
in terms of term . risk , certainty and what it determines
long term
high risk descision
full of uncertainty
determine survival and ongoing success of a business
strategic descison are amde by
senior managers
getting strategic decisions right is
essential
what happpens if a bs ends up offering wrong products or competing in wrong markets
however hard and well it fights
gonna be difficult to be successful
give example of when a strategic decsions would harm success of a bs
business continuing to rely fully on exports sales to Russia or Iran
at time when political sanctions imposed against this country and its currency value fell signif
A great manager understands and anticipatess (2 things)
where markets are going
makes sure bs offers right products in right markets
getting strategic direction right is …
essential for bs successs
strategic direction of a bs needs to be clear to
everyone within the organisation
why does strategic direction need to be clear to everyone within an organsiastion
provides focus for all parts of the bs and all elements within it
what 3 things should all employees know
what bs is trying to achieve
how its gonna achieve it
why tryna achieve this
why should all employees know aht bs /why and how a bs wants to achieve
helps them decide what to do when and what matters most - (reduces the need for S DM and frees up the opportunity from descison makign saving senior managers time to focus on mroe important descisons + goes well with laissez faire style of managment)
clarifies for employees their role in org, how best to do a job and waht their priorities are
strategic direction of bs shoudl infleunce
descisions and targets throughout org
when managers at every lvl and innevery part of a bs are set targets what should happen with the functional objectives
link to overall corp strategy
