Violet A. Amoabeng MGT 611: Integrative Management Dr. M. Davis Wednesday, January 19, 2011 Assignment # 1: The Robin Hood Case Study – The Purpose of Strategy: Strategic Management is defined as consisting of analysis, decisions, and the actions and organization undertakes in order to create and sustain competitive advantages. It is concerned with the analysis of the internal and external environment of the organization. Strategy is in itself the ideas, decisions and actions that enable a firm to succeed in the long and short run. It is their “way” of getting their goals and objectives achieved with core values and beliefs that create an organizational coherence in strategy direction. The strategy is their plan of action that will …show more content…
Increased pressure from the Sheriff m. How to regain anonymity? n. Allocating resources to “keep an eye on his activities” ? o. Killing the Sheriff (amnesty issues and confliction with values) 5. Strategy Redesign: p. Effectiveness vs. Efficiency q. Aligning the new strategy with current beliefs and values r. Communication with such a huge organization s. Effect implementation 6. Very risky opportunity to generate high returns: t. Join the Barons to free king Richard, high risk and high returns u. Amnesty issues. v. Losing stakeholder support 7. Sustaining the organization in an environment that cannot sustain the current growth of the organization growth: w. Decentralization of power (Selection) x. New areas to expand to? y. Accessing the large membership for new suppliers, contacts and looking beyond for new alliances that can support the expansion z. Decentralizing the organization without causing a rift between regions and departments. {. Sustaining and enforcing cultural values and belief over different regions |. Communication will be more difficult if expansion occurs 8. Concerns about possible disbandment: }. Outplacement The Role of the Organizational Leader as Strategist and an Articulator of Global Goals: 1. Leaders must have an integrated view of the organization and assess how
Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It involves the systematic identification of the firm 's objectives, nurturing policies and strategies to achieve these objectives, and acquiring and making available these resources to implement the policies and strategies to achieve the firm 's objectives. Strategic management, therefore, integrates the activities of the various functional sectors of a business, such as marketing, sales and production to achieve organisational goals. It is the highest level of managerial activity, usually
‘Strategy is the direction and scope of an organisation over the long term, which achieves advantage in a changing environment through it’
See Chapter 1, Exhibit 01: Strategic management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages:
"Strategic management is a set of managerial decisions and actions that determine the long-run performance of a corporation" (Wheelen & Hunger, 2006, p.3). The benefits of strategic management helps the firm focus on the objectives and develop the steps involved in obtaining the vision and financial wealth of the organization. An effective strategic management plan should include the following three questions: (1) Where is the organization now? (2) If no changes are
Strategy is a set of complicated tactics formulated by the executives of a company directed towards the achievement of company’s goal (Salmela, 2002). It is about all the path ways that a company would follow to reach its ultimate goal. It is a company’s strategy which helps to identify what it does better than the other companies in the industries, which may be different from what it does best. For successful strategy formulation and implementation, a company should know the needs of customers and should have knowledge of its competitors. Through a good strategy a company would identify that opportunity which makes it different from the others (Thompson, 2005).
Strategic management is the process where leaders establish an organization’s long-term direction, set the specific performance objectives, develop strategies to achieve these objectives in the light of all external and internal changes, and undertake effective strategies to manage these changes and execute action plans.
Strategy refers to the plan or action taken to achieve organizational goals. When Ellen took over Tufts-NEMC, the hospital was struggling with payroll and scale. Ellen had to focus on meeting payroll, a short-term strategy, and could not focus entirely on the longer term. She took some immediate measures to help cut cost
What Is Strategic Management a process for defining and addressing the management implications of an organization's strategic and operational plans? A long-term context for short-term activities. Strategic management is the analysis of the work done by the management of an organization on behalf of the owners. It gyrates around expressing the purposes of the organization and coming up with an appropriate mission and vision statement. Mission and vision statement together are used to help develop policies and plans to be used in long term and short term goals often categorized as projects or programs. It also involves the right resources of management to ensure that the business profit are maximized to grow the company. Strategic Competitiveness
Corporate Strategy has been defined by numerous authors. Grant (1995) claims corporate strategy deals with the way a corporation manages a number of different businesses. Lynch, R, in both his third and fourth edition books on corporate strategy refers to Penrose (1959) definition of corporate strategy as “the pattern of major objectives, purposes or goals and essential polices or plans for achieving those goals, stated in such a way as to define what business the company is in or to be in and the kind of company it is or to be”
Robin and the Merrymen is a company who are in business to steal from the rich and give to the poor. The organization had begun as a personal interest to Robin, and has grown with allies and new recruits to become a very large organization. Robin is the head of all operations with few delegates who have their own specific duties.
Therefore, strategic management is an all-encompassing approach for formulating, implementing and evaluating managerial decisions in a way that permits the business to reach its objectives.
The strategic management is actually defined as the process in which an organization actually formats and also implements the plans which espouse the objectives and goals of that organization (Diana Wicks, 2011). The process of the strategic management is continuous and it changes with the evolution of the organizational goals and objectives.
A company 's strategy consists of the competitive moves and business approaches that managers are employing to grow the business, attract and please customers, compete successfully, conduct operations, and achieve the targeted levels of organizational performance.
Fred R. David (2007:5) defined strategic management as “the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organisation to achieve its objectives.