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Strategic Information Management - Essay Example

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The paper will describe the relationship between strategy, organisational mission and business environment. The paper will also illustrate five basic steps of a recognised strategic planning procedure and formulate the mission and major business objectives…
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Strategic Information Management
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Download file to see previous pages This essay discusses that for any organisation, the strategic planning begins with clearly demarcated missions. The mission of an organisation defines the fundamental purpose of the company in the industry with respect to products or services it provides to the customers. It is the mission of an organisation which describes the cause for existence of the company in the market. Furthermore, the mission statement also tells about the abilities by which organisations seek to compete in the market and peruse success. On the other hand, strategies initiated by any organisation explain the limitations under which the company can conduct its business operations. The strategies of organisations are developed and implemented by management which describe the geographic restrictions, market operations, methods of conducting business and development of products or services. The mission of an organisation is translated in every deeds of organisation, and therefore the strategies are developed in such a way so that it can provide a framework about accomplishing the mission. There is a direct relationship with adoption of any strategy and mission. Apart from the mission of an organisation, the business environment on which the organisation operates its business also has direct relation with the adoption of strategy. The business environment levies several restrictions on an organisation and therefore has substantial impact on the possibilities and activities of organisation. Before developing a strategy, organisations need to identify the business environmental forces which can impact on the business. ...
Numerous environmental aspects such as political, social, cultural, and competition among others have significant impacts on the strategies taken by organisation. It is significant for any organisation to understand purposes, scopes and objectives of business through mission statement, to recognise the internal and the external business environment and accordingly develop strategies which are consistent with the industry as well as the business. The following diagram will describe the relationship between strategy, organisational mission and business environment: Source: (Saleem, 2006). Strategic Planning Process A recognised strategic planning procedure has five basic steps which are illustrated in the following diagram: Source: (Hill & Jones, 2009). Formulate The Mission And Major Business Objectives: The first phase of strategic planning is creating the mission statement which delivers the outline or background within which the strategies will be framed. The mission statement of an organisation has four key components which are: 1. Statement for cause of presence for an organisation in the industry 2. Statement of few anticipated future circumstances 3. Statement of crucial values that the organisation will promise to the stakeholders and, 4. Statement of main objectives The mission will provide what an organisation is for, such as the mission statement of Kodak provides customers with the solutions they require to capture, save, and share images, or in other words, the presence of Kodak in the industry is to deliver solutions reading photos to the consumers. The mission of Kodak is customer centric which concentrates on fulfilling the photo requirements of customers (Hill & ...Download file to see next pagesRead More
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