Planning and Management of Business Strategy. “In a general sense, strategy is the definition of the major goals and lines of action set out in business or government plans. Tactic, in addition, would define in a more detailed way how to achieve these goals. ” Zoe Talent Solutions“will give you the best ideas for Management skills and finance Strategies.
Strategy Has Never Been As Important As Today
Furthermore, considering the current scenario of globalized competition. The life expectancy and prosperity of organizations is determined by their ability to adapt to the evolving environment.
Moreover, the need to survive and thrive in this constantly changing landscape may require a competitive advantages. And this has required companies to create a structured Strategy and a disciplined organization of implementation efforts.
Additionally, I have already presented fundamental elements that make up the foundations of an organization’s strategy. Which are: Mission, Values and Vision for the future.
Uniquely, the strategy also relates to the Business Model of the company, and the environment we apply it. It is the central element of the strategy, and must be unique, that is, differentiated from the competition. As it seeks a sustainable competitive advantage.
Similarly, the Business Model should answer such questions as: What is our business? Who are the customers we want to focus on? What products / services will we offer? How will we deliver in an efficient and differentiated way?
“A company can only surpass its opponents if it is able to establish a difference that it can preserve. The Company must deliver greater value to its Customers, either create a comparable value at a lower cost, or do both. “- Michael Porter
A Few Concepts:
Correspondingly, here I present the concepts that seek to explain what is strategy, planning and management of it in an organization.
Identically, By preparing the Strategy clearly and deploying it with discipline without losing focus have become critical factors for the sustainable growth of Companies.
It is important to know that without a continuous strategic management, that to identify what is essential and stay focused, past success will not guarantee success in the future.
“Strategy is the set of decisions and actions regarding the choice of means and the articulation of resources in order to achieve the objectives.” – Thietart
Strategic Planning and Management
“The key to excellence in strategy, no matter what you do and what approach you take, is to clearly define such strategy and communicate it repeatedly to customers, employees and shareholders. It’s all part of a simple, focused value proposition that relies on deep and thorough recognition of the company’s target audience and a realistic assessment of their own capabilities. “- Nitin Nohria
Finally, the essence of strategic management is to develop, through an innovative and creative approach. Likewise, a competitive strategy that ensures the organization’s success in today’s business, while building the core competencies necessary for tomorrow’s business success.
A continuous Process:
Likely, Strategic management is an ongoing process because an organization’s strategy does not always coincide with the desired strategy, given the constant changes in society and the business environment.
According to John Mahon, “the essence of strategic management is the planning and execution of strategies that anticipate, confront and leverage change. “
Thus, the strategic management needs to carry out a continuous monitoring of the results. That of the organization, to execute the constant adaptations of the company, required by its environment. In this way, the strategy is emerging. Something that needs to be flexible, creative to overcome uncertainties, risks and take advantage of new opportunities in the markets.
According to Henry Mintzberg, strategy is more often an irregular, discontinuous process, replete with adjustments and restarts.
Also, According to Lean Fahay, “Change is the central concern of strategic management. It in the environment, change within the company, and change in how the company establishes links between strategy and enterprise. ”
David Hunger states that ” strategic management is the set of strategic decisions and actions that determine a corporation’s long-term performance. This type of management includes the processes of deep internal and external environment analysis. A strategy formulation (planning), implementation of strategy (implementation), evaluation and control (evaluation and monitoring of results.