Minimum of 300 words in the body Minimum of 2 sources from the literature in addition to course texts
Gamble, J., Peteraf, M., & Thompson, A. (2019). Essentials of strategic management: The Quest
for Competitive Advantage. (6th ed.), New York, NY: McGraw Hill Higher Education
Keller, T., & Alsdorf, K. L. (2012). Every good endeavor: Connecting your work to God’s work.
New York, N.Y: Dutton, Penguin Random House.
Krogerus, M., & Tschäppeler, R. (2018). The decision book: 50 models for strategic thinking.,
(Revised ed.), New York, NY: W. Norton & Company, Inc.
Rumelt, R. (2011)., Good strategy/bad strategy: The difference and why it matters., New York,
NY: Crown Busines
Content must include:
· Summary of the author’s Main Thread – no less than 125 words · What you agreed with, did not agree with and why – no less than 125 word
APA FORMAT A MUST FOR THE REPLY PLEASE
Organizations need to know where they are heading if they are going to be effective in the marketplace. According to Gamble, Peteraf, and Thompson (2019) the heart and soul of any organizations lies within creating and executing strategy. There are many stages to sound strategy formulation. This discussion board will discuss how organizations should use strategy formulation to set the direction of the company. Next, this discussion board will discuss key advantages and disadvantages of strategy formulation. Finally, this discussion board will discuss the decision models and how they impact the strategy and the direction the company.
Process: Setting the Company’s Direction with Strategy
Organizations, in order to be effective, must be willing to set the strategic vision. This allows the managers of the organization to know how to make decisions within their respective areas. Gamble et al. (2019) states that a strategic vision can serve as a managerial tool when it provides understanding of what management wants the business of the organization to look like. This will allow managers to make informed strategic decisions within their department. According to Cossette (2001) strategic vision can have a long-lasting impact on an organization and it can help leaders define their vision for their organization.
Once strategic vision is set by management, communication of the vision must take place. As Gamble et al (2019) states, “A strategic vision has little value to the organization unless it is effectively communicated down the line to lower-level managers and employees” (p. 18). According to Mayfield, Mayfield, Sharbrough (2015) an effective strategic vision will help express the organizational goals and values to both internal (employees) and external stakeholders. Mayfield et al. (2015) goes on to say that when the vision is communicated
properly the employees are more motivated to perform better. Therefore, it is imperative that the communication be clear as it will help guide the organization in the direction management wants it to go. In addition, it sets the stage of why an organization does what it does. According to Gamble et al. (2019) a well communicated vision helps senior executives stabilize their view of the organizations long term future, helps win the support of the employees to make the vision a reality, and helps the organization prepare for the future.
Strategic Thinking: Key Decisions
According to Rumelt (2011) a good strategy is going to have coordinating actions, policies and resources to help accomplish the vision. Therefore, there will be important decisions that need to be made. Rumelt (2011) goes on to say that some organizations have goals and initiatives but they lack the approach to accomplish the goals. This is when a decision to have an effective strategic vision comes in to play. Gamble (2019) states that the larger and diverse an organization is will allow for more employees to be a part of the relevant strategy-making process. In order to build a competitive advantage within a single business unit organization have to create a business strategy (Gamble et al., 2019). The Company CEO and leadership executives are responsible for establishing the overall game plan of how the business strategy will be implemented (Gamble et al., 2019). Functional-area strategies and operating strategies help organizations perform at a higher level within the business, however, they are limited in scope since they focus on a specific unit within the business (Gamble et al., 2019). Finally, it is important to note that when external circumstances disrupt or affect the business environment, organizations should evaluate the current strategy and determine if changes need to be made to adjust its direction (Gamble et al., 2019).
Making decisions, within an organization, can sometimes be difficult. Those decisions must be made in concert with the strategic vision the organization has set. As Christians, we are called to cultivate his creation and he gives us a clear purpose for our work and calls us to be obedient to him and faithfully serve him (Keller & Alsdorf, 2012). When we follow him then our decisions will be in concert with his vision that he has set for us.
Decision Model
Organizations are comprised of complex structures and individuals who have to manage them. As with any organization, it is only effective as the people who are hired to operate within the business structure. Therefore, it is important that an organization have the right people working within their organization. Krogerus and Tschappeler (2018) state that a good team understands its capabilities and abilities to do the job. I find that the team-model to be an effective model of helping an organization accomplish its mission. Having the right team will allow an organization to be effective, especially when that team has bought into the mission and vision of the organization. Each team member has their own strengths and capabilities that they bring to the table. Krogerus and Tschappeler (2018) state that “real strength lies in differences, not is similarities” (p. 126).
Conclusion
When organizations set a strategic vision, it tells their stakeholders where they are going. It is then up to the leadership of the organization to set the vision in motion and make effective decision that are in line with the strategic vision. Communication must be clear and concise as it will help the organization plan for the future. It is important that everyone employed be on same page with senior leadership as they will be the ones implementing the vision set by senior leadership.
References
Cossette, P. (2001). A systematic method to articulate strategic vision: An illustration with a small business owner-manager. Journal of Enterprising Culture, 9(2), 173-199. doi:10.1142/S0218495801000109
Gamble, J., Peteraf, M., & Thompson, A. (2019), Essentials of Strategic Management. McGraw – Hill Higher Education (6th ed.). New York, NY
Keller, T., & Alsdorf, K. L. (2012). Every good endeavor: Connecting your work to God’s work. New York, N.Y.: Dutton
Krogerus, M., & Tschäppeler, R. (2018), The decision book: 50 models for strategic thinking., W. Norton & Company, Inc. (Revised ed.). New York, NY.
Mayfield, J., Mayfield, M., & Sharbrough, W. C. (2015). Strategic vision and values in top leaders’ communications: Motivating language at a higher level. International Journal of Business Communication, 52(1), 97-121. doi:10.1177/2329488414560282
Rumelt, R. (2011), Good strategy/bad strategy: The difference and why it matters., Crown Business. New York, NY
Annotated Bibliography
Cossette, P. (2001). A systematic method to articulate strategic vision: An illustration with a small business owner-manager. Journal of Enterprising Culture, 9(2), 173-199. doi:10.1142/S0218495801000109
This article provides an in-depth view of how important strategic vision is for an organization, especially small business owners. The goal of the researcher in this article was to provide business leaders with the tools to be able to articulate and question their strategic visions. The researcher found that the systematic method to help leaders articulate their mission could be broken down into four phases. Those phases were; 1) an exploration phase, 2) a validation phase, 3) an analysis phase, and 4) a finalization phase. The publication Journal of Enterprising Culture is a peer reviewed journal that contains articles pertaining to business. Pierre Cossette is a professor at the University of Quebec, Montreal and teaches in the School of Management. He has produced many publications in regards to business and management decisions. This article aligns well with the discussion on how businesses can use strategic vision to help drive the organization. This article also helps with guiding managers to make strategic decision that are in line with the vision management has set for the organization.
Mayfield, J., Mayfield, M., & Sharbrough, W. C. (2015). Strategic vision and values in top leaders’ communications: Motivating language at a higher level. International Journal of Business Communication, 52(1), 97-121. doi:10.1177/2329488414560282
This article is about how a top leader can use communication to help spread the strategic vision throughout the organization while also improving organizational performance. The authors talk about the motivation language and give ways to improve performance within the organization and to the company’s external stakeholders. Dr. Jacqueline Mayfield is a professor of management at Texas A&M International University and has published over 50 journal articles and conference proceedings. Dr. Milton Mayfield is a professor of management at Texas A&M International University and has published over 50 journal articles and encyclopedia chapters. Dr. William Sharbrough III is a professor of management at The Citadel School of Business and has served as the Southeastern US Regional Vice President of the Association of Business Communication. This article supports the discussion of communication with internal and external stakeholders of an organization
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more