Strategic Management Process - Coursework Example

Strategic Management Process Strategic Objectives: Strategic objectives are the d aims and responses to the uncertainties that occur in the in the environment of an organisation’s business operations. These strategic objectives may focus on major changes or improvements, competitiveness or social issues, and business advantages. Strategic objectives are reflected on internal, as well as external initiatives, and are with regard to important customer, market, product, service, and technological opportunities or strategic challenges. Thus strategic objectives clearly give the achievements that the organisation needs to attain to remain or become competitive, in its business activities, and by that make sure of the sustainability of the organization. The tone for long-term objectives of an organisation is set by the strategic objectives, which is also the guide for resource allocations. The importance of strategic objectives lies in the uncertainties of the modern world with rapid changes becoming a part of it. In such an environment, strategic objectives provide the means to a clear path towards immediate competitiveness, and thereby to long-term sustainability. Strategic objectives arrived at with a clear sense of purpose enables an organisation to work its way through the quagmire of the current business environment, as it provides quickly adjusted tactics and specific activities to meet the changing circumstances of the modern world. (1). Strategic Objectives of Schurz Communications: Schurz Communications, Inc., have five clearly stated strategic objectives, which have been formulated to assure it of remaining competitive in the several business activities that it is involved in. The diverse nature of its activities is clearly understood by Schurz Communications, and its first strategic objective is to provide adequate strength to these diverse activities by the acquisition of “high quality print and electronic properties”. Implied in this is that Schurz Communications intends to adopt a strategy of improved quality in the delivery of its products and services to the customers. With the acquisition of these properties Schurz Communications does not just expect to hold ground, but increase its revenues on an overall and individual property basis, and these can be seen in the second and third strategic objectives of Schurz Communications. Implied in this is that Schurz Communications would not be satisfied with its existing market share, but is likely to become a more aggressive player in its diverse business activities. In any organisation it is its human asset, and the talent that this asset possesses that allows for organisations to reach their objectives. Schurz Communications acknowledges this in their fourth strategic objective, and in that Schurz Communication clearly indicates that it is not just by acquiring additional quality in properties, but also in the quality of its employees that Schurz Communication attempts to remain competitive in its business activities. The initial indication of expanded market share aspirations of Schurz Communications in its revenue strategic objectives gets clearly spelt out in its final strategic objective of a “dominant local digital media resource in the markets we serve”. Aggressive market activity is the expected outcome of this strategic objective after having set all the other components in position. (2). Strategic objectives need to be set for the immediate challenges that an organisation faces, and to set the tone for the long-term objectives of the organisation. Hence the objectives need to be specific with regard to the tasks on hand. In this regard Schurz Communications has a clearly defined set of strategic objectives with a definite sense of purpose. The strategic objectives address internal and external factors in ensuring quality in its product and service delivery. It is through this delivery of enhanced quality that Schurz Communications attempts to increase its market share in the diverse business activities that it is involved in. The only criticism that can be levelled against the strategic objectives of Shurz Communication is that it has not set any audit or follow-up mechanism for its strategic objectives, which is a necessity to ensure that strategic objectives are being realised, and also whether the strategic objectives are delivering the necessary cutting edge of competitiveness that is a necessity for the success that Schurz Communications attempts to achieve through its strategic objectives. (3) 2. Mission Statement: From the perspective of strategic planning within a business organisation, the mission statement remains a critical element. In the defining of a mission, a business organisation clarifies the purpose of the organisation, and therefore the creation of a mission statement becomes a part of the initial actions of a business organisation. The mission statement can be the foundation on which the overall strategy, and the development of specific functional strategies are built on. (4) The mission statement is a brief, yet succinct statement that declares the business activity of the organisation, and also provides information on the likely customers. It thus gives focus and the path to the future growth of the organisation. This definition of the mission statement implies that there are two dimensions to it. The first dimension is the description of the products or services that are the result of activities within the organisation, and the second dimension is the descriptions of who the possible customers are, and the possible reasons for them becoming customers. A well-formed mission statement also takes into consideration the diversity that the management has planned for in the future. Changes in the mission statement occur very gradually, as it is an evolutionary process. The reason for this is that the mission statement is the base that represents what the business organisation is, what are its activities and to whom these activities are directed and the reasons for it. Being the very foundation on which the business organisation and its quest for customers rest, changes are gradual. (5) Dryden’s Mission Statement: The Dryden’s mission statement reads “Advancing Technology and Science through Flight”. As such the mission statement can be faulted as dealing with only one dimension of the requirements of a well-developed mission statement. This one dimension is the probable products and services that are the results of the activities that take place within the organisation. It makes no mention of the second dimension that applies to its likely customers and the reasons for them being customers. (6). The one liner mission statement of Dryden may thus look deficient. Yet, it is becoming more and more common to see one liner mission statements of business organizations. Some common examples are Merck’s “To preserve and improve human life”, Wal-Mart’s “To give ordinary folk the chance to buy the same thing as rich people”, and Walt Disney’s “To make people happy”. The deficiency of the second dimension in these one liner mission statements is made up in the mission elements that are provided along with the mission statements. The advantage of the presence of mission elements along with the mission statement is that besides allowing for addressing the second dimension of the mission statement, it also provides the organisation with a platform for declaring performance standards, direction for implementation of the mission statement, and ethical considerations of the business organisation. (7) Dryden has also adopted a similar strategy to make up for the lack of sufficient description of the second dimension in its mission statement with a set of four mission elements namely “Perform flight research and technology integration to revolutionize aviation and pioneer aerospace technology. Validate space exploration concepts. Conduct airborne remote sensing and science missions. Support operations of the Space Shuttle and the International Space Station -- for NASA and the nation”. Examination of these mission elements removes the deficiencies that were seen by evaluating just the mission statement as a single entity. (6) Works Cited 1. Bishop, Bill. THE STRATEGIC ENTERPRISE. Toronto. Stoddart Publishing Co. Limited. 2000. 2. “STRATEGIC OBJECTIVES: INSIDE SCHURZ”. SCHURZ COMMUNICATIONS, INC. SCHURZ.COM. 2004. 3. Carliner, Saul. “Writing Business Objectives: A Key Tool for Demonstrating the Value of Technical Communication Products”. 2002. 21 Aug. 2006. . 4. Cardini, Leann. “Corporate Mission Statements: A Strategic Management Issue”. 21 Aug. 2006. . 5. Birnbaum, Bill. “Developing Your Mission Statement”. 21 Aug. 2006. . 6. “About Dryden”. Dryden Flight Research Center. National Aeronautics and Space Administration. 7. “Mission Statement”. Center for Business Planning. brs. 21 Aug. 2006. . Read More