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Purpose of strategy - Essay Example

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Strategy is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage within an organizational structure. Each strategy the firm uses specifies desired outcomes and how they are to be achieved…
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Purpose of strategy
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Download file to see previous pages An effectively formulated strategy ensures that the resources, capabilities and competencies of the firms are integrated and allocated properly so that their alignment with the external environment works to the advantage of the firm. A basic requirement for the effective usage of strategies to the organizational advantage is the collection and analysis of a host of information about so many variables including markets, customers, technologies, changes in the worldwide financing structures and methods and also changes in the world economy. With this background this paper discusses the nature and organizational purpose of strategies. While detailing the rationale behind the strategic changes the paper also brings out a note on the formulation of strategies based on some strategic thinking process.
There are various elements that make the orgnisational systems function effectively. Out of these systems some are considered important and contribute more towards the organizational success. As such these elements are complex in nature and need to be prioritized than the others. These elements form the basis of an organizational framework and add value to the organizational existence and purpose. ...
Thus it can be said that strategy is an organizational process inseparable from the structure, behaviour and culture of the company in which it takes place.
3.0 Organisational Purpose of Strategies:
"Purpose is derived from a person's or organisation's values and beliefs. It is defined in emotional and relational terms, and remains a constant even when the environment changes over time". (Ilia Van Roon)
The strategies define the goals of an organization in terms of the direction in which the organization should march ahead. Goals are formulated in response to and in tune with the changes in the competitive environment in which the firm operates. The goals are often defined in quantitative or qualitative terms that drive organizational efforts to success. Thus strategies have the purpose of defining the organizational goals in both monetary and non-monetary terms. "Organisational vision yields an understanding of what the organisation intends to do; strategy is a translation into how the organisation intends to realise its vision"
Successful organizations always are purpose driven, having identified the organizational purposes, aligned their goals, actions, responses and relationships with the purposes. Strategies defining the organizational purposes are required to motivate the people by using goal oriented language to relate the people's cognitive and emotional sides to make them understand the organizational purposes and coordinate their efforts towards achieving them.
4.0 Nature of Strategy:
The strategy of a firm is the match between its internal capabilities and its external relationship. It also describes about the nature of its responses to its other stakeholders like the customers, ...Download file to see next pagesRead More
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