Fiilis
TOPIC
Exercise 1
TTA-62036 Strategic Management
Do not include any personal information. |
Table on contents
Benefits of strategic management
Strategic management is the organization 's long-term plan, it gives the organization its major outlines and the executives of the organization are responsible for it. Strategic management consists of defining the organization’s vision, its goals and future, the overall state of the organization and the environment that the organization operates in.
Strategic management gives an organization the ability to be more proactive than reactive in its own long term future. It gives the organization the power to shape its own future by initiating and influencing different activities. Right now the benefits of strategic management are recognized and used by more and more organizations, regardless of the size of the company or if it is a for-profit or a non-profit organization. (Fred 2011, 48.)
Strategic management creates common goals and purpose. It is not a three or a five year plan of the organization, but it is the organizations and specially its key people’s common vision of in what business- and technological environment the organization operates in and in which direction the organization wants to develop. The environment in which most organizations operate are so competitive and rapidly changing that in retrospect, even the good plans were not insightful. (Sjöholm, 2001.)
As we look back to the struggle of HD-DVD and Blu-Ray we can see how an insightful and competent strategic management helped the Blu-Ray to become the dominant technology in the market. In quality and performance they are almost the same, but launch and the entry of the product was different. Clearly the Blu-ray Disc Association had a much better understanding of the business- and the market environment in which they were operating. They understood that they had to partner up with different organizations (Sony, Twentieth Century Fox…) and
Exercise 1
TTA-62036 Strategic Management
Do not include any personal information. |
Table on contents
Benefits of strategic management
Strategic management is the organization 's long-term plan, it gives the organization its major outlines and the executives of the organization are responsible for it. Strategic management consists of defining the organization’s vision, its goals and future, the overall state of the organization and the environment that the organization operates in.
Strategic management gives an organization the ability to be more proactive than reactive in its own long term future. It gives the organization the power to shape its own future by initiating and influencing different activities. Right now the benefits of strategic management are recognized and used by more and more organizations, regardless of the size of the company or if it is a for-profit or a non-profit organization. (Fred 2011, 48.)
Strategic management creates common goals and purpose. It is not a three or a five year plan of the organization, but it is the organizations and specially its key people’s common vision of in what business- and technological environment the organization operates in and in which direction the organization wants to develop. The environment in which most organizations operate are so competitive and rapidly changing that in retrospect, even the good plans were not insightful. (Sjöholm, 2001.)
As we look back to the struggle of HD-DVD and Blu-Ray we can see how an insightful and competent strategic management helped the Blu-Ray to become the dominant technology in the market. In quality and performance they are almost the same, but launch and the entry of the product was different. Clearly the Blu-ray Disc Association had a much better understanding of the business- and the market environment in which they were operating. They understood that they had to partner up with different organizations (Sony, Twentieth Century Fox…) and
Bibliography: Ansoff, I. 1984. Strategisen johtamisen käsikirja. Keuruu, Otava Fred, R.D Sjöholm, H. 2001. Teknologiastrategian laatiminen ammattikorkeakoulussa. Helsinki. Tekes. www.tekes.fi/fi/document/43369/amk_strategiaopas_pdf. 2.9.2013. Stuart Green & Susan May, 2010. Re-engineering construction: going against the grain. Routledge. 106 pages.