Stratagic Management
1.What Is Strategic Decision Making?
One of the essential parts of creating and running a small business is creating a mission or vision for the business and a set of goals the company aims to achieve. Strategic decision making, or strategic planning, describes the process of creating a company's mission and objectives and deciding upon the courses of action a company should pursue to achieve those goals.
2.what is meant by stratagic intent ? To develop an effective strategy – you need to have strategic intent. Invariably – companies look at competition traditionally – i.e. focus on existing position & resources, rather than at the resourcefulness of competition and their pace at which they are building competencies. Accessing the current tactical advantages of known competitors will not help to understand the resolution, stamina and inventiveness of potential competitors.
Strategic intent envisions a desired leadership position and establishes the criterion the organization will chart its progress – it is simply something more than just unfettered ambition. It captures the essence of winning and is stable over time. It sets a target that requires personal effort and commitment and also a bit of luck – it is not a soft target. The important question that companies ask is not “How will next year be different?” – but they ask, “What must we do differently next year to get closer to our Strategic Intent?” Most companies look at change and innovation in isolation – i.e. try and keep a few people isolated and let them free – but real innovation comes from everywhere – top management role is to add value.
Strategic intent is clear about the ends, but flexible about the means – it leaves room for improvisation and creativity and the top management gives the direction. The difference is resource as a constraint versus resources as leverage. In both, it is implicit that there must be balance in the scope so as to reduce risk. In the first you do it through
One of the essential parts of creating and running a small business is creating a mission or vision for the business and a set of goals the company aims to achieve. Strategic decision making, or strategic planning, describes the process of creating a company's mission and objectives and deciding upon the courses of action a company should pursue to achieve those goals.
2.what is meant by stratagic intent ? To develop an effective strategy – you need to have strategic intent. Invariably – companies look at competition traditionally – i.e. focus on existing position & resources, rather than at the resourcefulness of competition and their pace at which they are building competencies. Accessing the current tactical advantages of known competitors will not help to understand the resolution, stamina and inventiveness of potential competitors.
Strategic intent envisions a desired leadership position and establishes the criterion the organization will chart its progress – it is simply something more than just unfettered ambition. It captures the essence of winning and is stable over time. It sets a target that requires personal effort and commitment and also a bit of luck – it is not a soft target. The important question that companies ask is not “How will next year be different?” – but they ask, “What must we do differently next year to get closer to our Strategic Intent?” Most companies look at change and innovation in isolation – i.e. try and keep a few people isolated and let them free – but real innovation comes from everywhere – top management role is to add value.
Strategic intent is clear about the ends, but flexible about the means – it leaves room for improvisation and creativity and the top management gives the direction. The difference is resource as a constraint versus resources as leverage. In both, it is implicit that there must be balance in the scope so as to reduce risk. In the first you do it through