Strategy Is Nothing but Forecasting the Direction and Scope of an Organisation

Topics: Strategic management, Management, SWOT analysis Pages: 2 (465 words) Published: April 15, 2013
A full story of a selected business strategy is a business plan defining: the company vision, the strategy and policy that will enable the company to reach those objectives, the resources requisite, and how they are going to be obtained; what the main milestones and steps are along the way; who is responsible for causing each step to occur; what are the company's business risks and external factors that need to be kept under review for indications that a change in strategy or plan may be required. Strategizing is much more than just visioning, forecasting and planning. In the new rapidly changing economy, all substantiveissues of strategy have been redefined as issues of implementation. Today, strategizing is concerned with the match between the internal capabilities of the company and its external environment. As strategy today is a subject of application, rather than a discipline, the obvious underpinning disciplines for strategy are economics and organizational sociology. ( Most initiative at strategic planning is not succeed because the strategic planning structure used have been urbanized by academics and are based on what other businesses did in the past. Unfortunately most corporate executives look on corporate strategy as just another task that must be repeated periodically. The result is either an unprofessional strategy or a strategy that is bound to fail because it does not take account of reality. In the end a lot of strategic planning fails because of uselessness or lack of interest on the part of those responsible for the strategic map ( Developing a marketing strategy is very important for any business. Without this, organisation's efforts to attract customers are likely to be jumbled and inefficient. Strategy must take account of how business' strengths and weaknesses will affect marketing. Begin marketing strategy document with an honest and rigorous SWOT analysis, looking at strengths,...
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