Strategic Planning Wk 2 Replies

07 May Strategic Planning Wk 2 Replies

Original Question:

For this week’s Forum, respond to the following

· Write a one-two sentence personal definition of strategic planning. Base your definition on what you have encountered in the reading/materials this week, as well as on what you have already learned about the topic.

· Discuss this statement by Roger L. Martin: “. . . good strategy is not the product of hours of careful research and modeling that lead to an inevitable and almost perfect conclusion. Instead, it’s the result of a simple and quite rough-and-ready process of thinking through what it would take to achieve what you want and then assessing whether it’s realistic to try. If executives adopt this definition, then maybe, just maybe, they can keep strategy where it should be: outside the comfort zone.”

· Finally, describe the differences between strategic planning and business planning.

(no citations/references are required).

Reply to the following response with *** 150 words minimum, including direct questions to the post ***. (please make response as if having a conversation, respond directly to some of the statements in below post. This is not providing an analysis of the original post. Respectfully address it and even ask clarifying or additional questions.)

** These responses are to be informative and contribute to advancing the knowledge of the topic **.

1.

Forgang, W. (2004). Strategy-specific decision making a guide for executing competitive strategy . Armonk, NY: M.E. Sharpe.

http://hoanamy.bizhat.com/thesis/stra_part2.htm

I chose to investigate Implementing and executing efficiently and effectively the strategy. You can choose and plan all that you want, but once it comes time to execute, then that is where the true challenge comes. The plan is now made but now we must execute the agreed upon efficiency and and strategy of emplimentation. At this point all management, employees and other key team members must understand the intent of what is about to occur and what the expectation are of each department. The point of efficiency is to complete a task to where it is either done to standard or exceeds standard by saving time or other material resources. Anything done above the preceding standards is not efficient or effective and needs to correctly immediately. With proper analysis of the current situation and leadership has provided guidance, efficiency should not be an issue to be concerned about. None the less, it must be monitored and proper guidance given. At this point the project can not reach set back due to ineffectiveness of execution. When a new strategy is being implemented, especially amongst departments, there cannot be a lag of success by one team. That failure will have a chain reaction into other tasked products and could cause issues of delay or production.

This is the fourth step in the process, but as I explained key to now making a plan successful. Some of the things I would do to make it better would to ensure that there is time taken during the planning process to start bringing the team members in on the plan. No so much having them plan it, but giving them a type of warning of what to expect so that they may have ample time to prepare their individuals plans and workstation set ups. They need to start prepping requests and team members to assure availability to make the expectations happen. This will assist if the team knows an issue that will occur and halt the process completion of the given time table.

2.

Upon researching the topic of executing strategy, I found a scholarly article that suggested that the core tasks and processes of executing strategy is the recognition of a problem, the implementation of strategy, and evaluation of strategy (Raupp & Hoffjann, 2012). The component that I choose to focus on most of all, is evaluation. Evaluating the actions and outcomes in the process of executing strategy is critical, because according to Raupp and Hoffjann (2012) evaluation of strategy is noted to possibly lead to productivity, or to start the process over again. Hence, this task fits into the strategy at the right place. I can think of several scenarios in my professional career where a positive outcome materialized upon the conclusion of a strategy being implemented, and shortly thereafter, another problem ensued. While rejoicing on the resolution of one problem, the result was not assessed for new potential problems.

To improve the evaluation process, and the entire execution of strategy, I would improve through communications management. Communication management is suggested by Raupp and Hoffjann (2012) as a tool to ensure efficacy amongst each tactic and within the grand strategy being executed. Also, the authors assert that communication management should be done simultaneously to each process of executing strategy to ensure successful execution (Raupp & Hoffjann, 2012). Therefore, discussing the variables that caused the problem, the steps to ameliorate the issue, and most of all, the strengths, weaknesses, successes and failures of executing strategy, can better ensure that the result is reflective of the energy placed into the strategy.

 

References

Raupp, J., & Hoffjann, O. (2012). Understanding Strategy in communication management. Journal of Communication Management, 16(2), 146-161.

3.

The strategic management process involves five stages and that includes:

1. Developing a Strategic Vision and Business Mission

2. Adapting the strategic vision and mission into measurable objectives and performance targets.

3. Crafting a strategy to achieve the desired results.

4. Implementing and Executing Strategy

5. Evaluating Performance, Reviewing New Developments, and Initiating Corrective Adjustments

My choice of tasks focuses on the fourth stage—strategy implementation and execution.

Clayton (2018) explained that successful strategy implementation is essential to the accomplishment of the business goals. At this action stage of the strategic management process, if the total strategy does not work with the organization’s present structure, a new structure should be set up at the commencement of this stage. Overall goals, duties, and responsibilities are made clear for everyone involved in the organization. How the duties and responsibilities fit into the overall goals are also made known at this point. Funding and other potential resources are also secured for the venture. The plan could be executed once employees are ready and funding is secured.

Vanderburg (2004) indicated that this phase comprises deciding what firm resources should be assigned to each activity, creating guidelines, inspiring employees, acquiring the means required to attain goals, and inspiring on constant improvement of the culture. The organizational strength is needed to be reexamined to determine how to restructure resources including the human aspect of it to execute and implement the strategies.

This stage also consists of seeing what it will take to make the strategy work and to reach the envisioned execution on the programmed time.

Good strategy execution comprises forming a robust “fit” between the status quo, how processes are carried out internally and what is needed for the strategy to thrive. Thus, if the method of implementation is strong enough to fit the strategy’s requirements, odds are that the targeted goal will be realized without any hinderances. There is the need to have a fit between strategy on the one hand, and the general organizational framework on the other. The framework may include organizational capabilities, reward arrangements, core support system, and the overall organizational culture.

The issue about this stage is the fact that both testing and implementing the strategy are done at this point. This stage can be improved by first testing the process before even initiating the strategy to determine how best the strategies would fit into the organizational context. At this stage when the strategy is implemented, any failures that were not previously expected could undermine the success of the entire strategy.

-Imran

Reference

Clayton, J. (2018). The five stages of the strategic management process. Retrieved from https://smallbusiness.chron.com/five-stages-strategic-management-process-18785.html

Vanderburg, E. (2004). 5 essential tasks of strategic management. Retrieved from https://securitythinkingcap.com/5-essential-tasks-strategic-management/

 

** Please don’t just rephrase their info, but respond to it. Remember to answer question at the end if there is one. **