Assignment 1 Strategy The article I read was‚ What is Strategy? By Michael Porter. In this article Porter talks about the abilities to set objectives‚ facilitate resources and the ability to target the right customers. Porter goes onto talk about operational efficiency. He says that operational efficiency is basically preforming similar tasks better than your rivals in the market. He emphases being different than your rival‚ don’t try to be better and always out do them‚ be different and unique.
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Introduction: Strategy and management is one of the prominent and most discussed topic in the organization and business studies. Organizations today are challenged by many factors both internal and external and need to effectively address such‚ which makes only possible by the organization effective leader and their strategic view to overcome and take their company into profitable‚ competitive‚ innovative and change. Further‚ the shift of organization from being local onto global and so the factors
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Describe what types of incentives can be included in an organizational remuneration strategy. Most organizations recognize that they have needs towards their employees to provide them with insurance and certain types of compensations. These benefits include financial and non financial types of rewards‚ which are generally paid indirectly rather then directly‚ cause benefits cost money and this way‚ the firm can save money. There are different types of views on direct financial payment
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introductory topic on Management Information System Organizations are formal social units devoted to the attainment of specific goals. The success of any organizations is premise on the efficient use and management of resources which traditionally comprises human‚ financial‚ and material resources. Information is now recognized as a crucial resource of an organization. Examples of organizations are business firms‚ banks‚ government agencies‚ hospitals‚ educational institutions
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3 STRATEGY In this section‚ we separate strategy into two components: the content of the strategy and the process of developing the strategy. The content describes how an organization will achieve its vision or strategic intent‚ i.e. it is a blueprint for winning. As such there is no one best strategy. A firm’s strategy ties together the different functional areas of the organization (e.g. marketing and finance) so that there is a consistency in action over time. It also drives implementation
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What is Strategy Johnson and Scholes (Exploring Corporate Strategy) define strategy as follows: "Strategy is the direction and scope of an organisation over the long-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment‚ to meet the needs of markets and to fulfil stakeholder expectations". In other words‚ strategy is about: * Where is the business trying to get to in the long-term (direction) * Which markets should a business
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Running Head: STRATEGY FORMULATION AND IMPLEMENTATION Strategy Formulation And Implementation Differences in Strategy Formulation And Implementation Strategy played major role to achieve the organizational goal and objectives. Although‚ strategy implementation is fundamentally different from strategy formulation because of strategy formulation means make the plan while the strategy implementation means apply the plan. Successful strategy formulation doesn’t guarantee
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What is Blue Ocean Strategy? by Nattida Sae-Iw MBA Student What is Blue Ocean Strategy? Let’s start with the metaphors To understand the term of Blue Ocean‚ imagine a market universe composed of two sorts of oceans: Red Oceans and Blue Oceans. Red Oceans represent the existing market space which is known market. Companies in red oceans are competitive-base; they are fighting each other and aim to get a bigger market share
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There is no one perfect strategic planning model for each organization. Each organization ends up developing its own nature and model of strategic planning‚ often by selecting a model and modifying it as they go along in developing their own planning process. The following models provide a range of alternatives from which organizations might select an approach and begin to develop their own strategic planning process. Note that an organization might choose to integrate the models‚ e.g.‚ using a scenario
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management The concept of strategy ➢ Strategy is the great work of organization. In situations of life or death it is the Tao of survival or extinction. Its study cannot be neglected. ----SUN TZU‚ The Art of War.2500 B.C ➢ Strategy is about winning. ➢ Strategy is not a detailed plan or program of instructions‚ it is a unifying theme that gives coherence and direction to the actions and decisions of an individual or an organization. Characteristic of a winning strategy ➢ Goals that
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