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Strategy making,executing and implementing
Five drivers of strategy implementation in detail
Strategy making,executing and implementing
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1. Describe the concept of Strategic Alignment and its importance to a company?
ANS: Basically, key arrangement is the connection between an association 's general objectives also, the objectives of each of the units that add to the achievement of those generally speaking objectives. At the center, it implies that records supervisors must take a gander at both the transient and long haul targets of the records administration program in the setting of the association 's client driven core interest. This should be a dynamic procedure with a quarterly on the other hand yearly survey of the objectives of the records administration program in the setting of the changing technique of the association.
Importance of strategic alignment on business:
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there are two main domain in strategic alignment model: 1 Internal and 2. External business domain.
Component of SAM
a) Scope of Business: In business strategy business scope embody the markets, merchandise services, teams of shoppers or purchasers and locations wherever an enterprise elements similarly because the competitors and potential competitors that affects the business setting.
b) Body structure: In organization infrastructure and method model the means the firm organizes its business.
c) Skills: In IT strategy model time unit thought like the way to rent and fireplace, motivation, train or education company culture.
3. Name some examples of enablers and inhibitors to Strategic Alignment.
ANS: Alignment could be a method that 's enabled or inhibitors by variety of things that square measure practiced on a daily basis. Recent analysis into the factors that modify or inhibit alignment supported survey responses from senior business and IT managers show that there square measure six key enablers to alignment similarly as six corresponding inhibitors to
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a scarcity of such support can inhibit Strategic Alignment. If the IT managers get understand of the business, Strategic Alignment are going to be enabled. However, a scarcity of understanding of the business by IT management inhibits Strategic Alignment. If the connection between IT and also the business is one in every of a partnership, then Strategic Alignment are going to be enabled. If there 's not a detailed operating relationship between IT and also the business, then Strategic Alignment are going to be restrained.
4. Name some symptoms of lack of alignment between IT and the business.
ANS: 1) Many IT selections square measure taken by executive director UN agency grasp very little concerning technology. Except what they scan in magazines or are told by sale individuals. they appear to technology to drive the corporate. They believe that ERP,SCM, data processing and a range of software package solutions can enhance revenue through client sources. the corporate is structure robust, however on paper it 's worse.
2) Many firms square measure directed by technology that square measure IT drive however do not perceive the real desires of the business. they can 't translate the business want into technology solutions. They gift factors that ought to be thought of throughout the technology analysis stage
There are limits to customer-centric responsiveness. Correct assessment however it may be tricky to implement. This is where business-IT alignment becomes critical. While IT may not always meet customer objective, it’s important to build the relationships and not alienate
The new IT governance model which satisfies the call for collaboration has enabled the company to meet the demands of its clients and end users and also keep its employees on the cutting edge of technology. The numbers tell the story themselves – a leading industry analyst benchmark of the world’s largest IT organizations ranked Accenture the best in 3 key measurements: lowest IT workforce as a percentage of headcount; lowest IT expense as a percentage of net revenue; and lowest IT expense per employee. This was all possible only due to the robust IT governance which has strengthened the company’s ability to transform IT into a strategic asset. Thus it has helped ensure that it’s IT strategy is closely aligned with its business strategy from the start.
There are four strategies businesses choose from. The first is corporate level strategy which assist companies in selecting new business strategies that is anticipated to increase its worth. Second, is merger and acquisition strategy where two companies assimilate or one company buys out another business. Thirdly, international Strategy concentrated on selling products and services outside of the national market. Finally, cooperative strategy affords companies the opportunity to join forces to achieve a common goal. (Hitt, Reland, Hoskinsson,
...en these two areas is essential. Mission, vision and values are the key factor that directs the business strategies of the organization. Planning, decisions and activities are based on mission, vision and values. Organizational strategies assist in developing competitive advantage. All these tools assist the company to satisfy the customers by fulfilling their unmet needs. With the help of these tools, the organization maintains a strong bond with the customers. Satisfied customer assists the company to develop a competitive advantage. By executing the customer relationship tools, the organization has developed its competitive advantage.
Strategy management can be characterized as "the precise investigation of the elements connected with clients and contenders (the outside environment) and the association itself (the inner environment) to give the premise to keeping up ideal administration rehearses. The goal of vital administration is to accomplish better arrangement of corporate strategies and key needs".
Within a given organization, structure is one of the key components that can lead a company to success or failure. The top echelon of the organization should ensure the right people are employed in their specific areas of expertise, that they are given proper job outlines, authority and goals to accomplish to ensure that organizational behavior matches the company values. The organization needs to be aligned with the individual goals of the employees, to ensure the individual feels they are working towards common goals. When a company conducts an organizational diagnosis it is primarily utilized to identify major strengths and weaknesses in the processes and hopefully strengthening the good ones and mitigating the unsuccessful ones.
The scope of this essay is to address coherently with examples a number of key areas of strategy; strategy and its importance, challenges in relation to development and implementation of strategies, and a discussion of the relevance of strategy in the modern
This perspective is concerned with the exploitation of emerging IT capabilities to impact new products and services (business scope), influence the key attributes of strategy (distinctive competencies) and develop new forms of relationships (business governance).
This structural column is obtained to specify the individuality of the work and organised for specialised members of the organisation. This is often indicated as an important dynamic for organisational structure. The specialised person is set in his particular area. Nonetheless, all together they prepare garments. This apprehends accuracy and fewer errors; moreover, it takes less time.
Most organizations fall under one of three organizational designs: simple structure, bureaucracy and matrix structure. The organizational design of a company suggests who makes executive decisions and how they are enforced. The organizational design is typically decided based on the size of the company and market place.
Creating an agenda of the strategic issues that face the organization is the core value of performing a strategic plan. The organization’s culture has a direct affect on what to consider as a critical issue or not. Therefore, any change in the organization will cause a change the organizational culture. So that, it is important to carefully do the external and internal environmental analysis to figure out the critical organizational issues. (Bryson 2011, 185-186)
Along with answering these questions, one must also determine what type of strategic strategy their company is following.
A diversified company has two levels of strategy: business unit (or competitive) strategy and corporate (or companywide) strategy. Competitive strategy concerns how to create competitive advantage in each of the businesses in which a company competes. Corporate strategy concerns two different questions: what businesses the corporation should be in and how the corporate office should manage the array of business units.
A successful business strategy will identify changes in the external trends in the market place. Plan out what the company’s future direction is. Set out the goals for the management team. It will identify a vision of where the company wants to be in the future. Keep all employees informed of the direction of the company.
Group 6 Strategic Management Strategic management is the process where organization managers reach the goals and aspirations of the organization on behalf of its owners. This is done through formulation and implementation of ways and methods to fulfill the organizational goals and objectives (Brian, 2011). This is done with in-depth consideration of both the internal and external environments that the organization operates in, in order to allow the organization to make the right decisions. Strategic management is an important element that firms must put together through strategic thinking as well as strategic planning (Nag, R., Hambrick & Chen, 2007). In order for a firm to compete within its industry, it must plan and relate to the industry dynamics, determine its strengths and weaknesses before determining the best way to match and overcome competitors.