Values and Strategy- NO PLAGIARISM

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Business Finance

Description

Choose an organization according to the following: (Lloyd's Register)

  • 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. = (Lloyd's Register)
    • 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?

Format your paper according to APA guidelines.


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Explanation & Answer

Answee posted please confirmKindlygo the work and let me know if there something you need rectified.

Running Head: VALUE AND STRATEGY

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Value and Strategy
Name
Institutional Affiliation

VALUE AND STRATEGY

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Value and Strategy: Lloyd’s Register

Lloyd’s register is one of the most renowned companies globally with a worldwide
presence in seventy-eight countries and over nine thousand employees. Being a company that
deals with technical and engineering services, its growth and success can be attributed various
factors. Some of these factors include proper strategic management and how the components
work together to provide the value to the organization. On the other hand, the company’s
mission, vision statement and motivation strategy innovation strategy and people strategy have
helped in its success. These factors will be discussed and explored and evaluated on how they
have brought value to the business and whether they are essentials for leverage purposes in
businesses and organization.
Strategic management process
Strategic management refers to the structure of the governance of the organization which
contributes significantly to proper management. The leadership at Lloyd’s Register has been
subdivided into different categories which allow for each subdivision to perform particular tasks
and achieve set goals. The business has a board, executive leadership team, and the compliance
team (Llyod's Register, 2017). Each of the factions works together yet separately to achieve the
set objectives by the top management. Challenges are better tackled as part of their strategic
management involves working in groups which creates teamwork and ease of solving problems.
For Lloyd’s management, there are five stages in their strategic management which
include goal setting, analysis, strategy formulation, strategy implementation and evaluation and
control. Under goal setting, the short and long-term goals are identified followed by the process
of how to accomplish the set goals. The objectives set also match the mission and vision of the

VALUE AND STRATEGY

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company such that all are working towards a common goal. The analysis involves obtaining of
all the information and data relevant to accomplishing the objectives identified in the first stage.
Additionally, it involves identification of any factors within and outside of the
organization that may hinder success and achievement of the said goals. Other factors that may
be considered in this step include the threats, opportunities, strengths, and weaknesses of the
company that either enhance or hinder development. After reviewing the information got from
the analysis, the organization formulates the strategy. Alternative approaches to the main ideas
are also given in this part of strategic management.
The last two steps which are implementation, evaluation, and control include the
activities of overseeing the operations and having assessments and measurements in place for
control purposes since business is fluid. The ...


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