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Vision Change Analysis - Research Paper Example

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Introduction Strategic change initiatives broadly refer to the firms’ ability to embrace change vis-a-vis technology adaptation, flexibility of approach and new product development. In the fast transforming socio-economic dynamics, the firms need to constantly evolve in order to maintain their competitive advantage against their rivals in the industry…
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Vision Change Analysis

Download file to see previous pages... The vision and mission of firms are intrinsic part of its strategic planning. Organizational vision is very important because it informs about the future perspectives of the organization and its future position in the industry. The organizational mission helps formulate the processes to achieve its vision. Application of vision concept to the strategic change initiatives is imperative because it helps to adopt proactive measure to meet the challenges of changing times. Application analysis The case study of Mentor Graphics Corporation clearly displays the need to adopt strategic change initiatives within the broader context of its vision. The company repeatedly changed its vision that it had developed for its future in 10 years’ time. Its initial vision that ‘it would build something that people would buy’ was quickly changed to ‘beat Daisy’ which had fast emerged as its rival in the industry. While the new vision was able to help the company in increasing its revenue but unfortunately the company was deprived of its creative inputs and had stagnated growth. The company again adopted new vision under ‘six boxes’ that would help it to diversify and gain market leadership in six different areas of business. ...Download file to see next pagesRead More
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