Values and Strategy

timer Asked: Jul 6th, 2018
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Question description

  • Current employer
  • Most recent or former employer
  • Place of business that you have patronized or have been familiar with over a long period of time.
    • Avoid choosing an organization that is so large that historical data would be difficult to apply. Firms in the Russell 2000® index may fit well, whereas firms in the Dow 30 Industrial index probably do not.
  • The organization can be a start-up that you or a significant other may create in the future. For a start-up, focus on an entrepreneurial idea that is of substantive interest, so this project leaves you with a product you may leverage in the future.

Write a 1,050-word paper in which you address the following:

  • Identify the major components of the strategic management process.
  • Discuss how these components work together to create value for the organization.
  • Evaluate the company's mission statement, vision statement, motivation strategy, innovation strategy, and people strategy. If the organization does not have one or more of these, how does that affect the organization and its people?
  • Explain the role of ethics and corporate social responsibility in strategic planning. How does this direct their strategy? How does the organization's vison and mission align with your own values and vision? If you are currently working for the organization, how does your role influence this and vice versa?

Tutor Answer

School: Cornell University

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Strategic Management


Strategic Management

The success of an organization is determined by how the five function of management are
carried out. The management functions have a trickledown effect since responsibility flow from
the top management to the low level personnel who are assigned to various roles in the
organization. The approach towards management increases the business’ success chances.
Components of Strategic Management
Strategic management is the process of employing objective-oriented, large-scale
approach through the employment of various components such as goal setting, environmental
skimming, strategy development and implementation and strategy evaluation.
Goal Setting
Goal setting is a crucial component of strategic management for an organization. It gives
the employee the idea and motivation towards reaching a certain target. With goal setting, the
organization is able to transparently accomplish its main purposes in the industry. In addition to
this, the company’s vision is also clarified.
Environmental Skimming
Environmental scanning or skimming is basically the process of reviewing as well as
processing all the areas that might have an impact on an organization and its operations. Factors
affecting the company may be internal and external. Internal factors include productivity rates,
employee turnover, sales data, and profit margins among others. External factors are as easy to
process as internal factors. These factors may include the economy’s overall data, the target
market and the competitors of the company (Goetsch, 2014).
Strategy Development and I...

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