Wednesday, December 5, 2018
Business Strategy Overview
It seems the way that management policy and strategy is handled is no different than how we conduct business and handle problems in the military. The only difference is location and scale. Otherwise methods can transition rather well.
Strategy is just another way to say problem solving. Just a bit more fancy of a term, but the go hand in hand. Leaders, managers etc must be able to have that drive and be able to conceptualize the target so that they can smoothly move forward. You need a vision, a purpose in which drives you and motivates those around you to have a shared purpose to accelerate each individuals motivation to succeed. With a team determined to succeed and an understanding of what it is that they are moving towards. You will be able to carry that motivation into a competitive edge. With the strategy being led by a confident leader who is influencing not only management but the personnel beneath them, purpose motivation and direction will follow.
In order to formulate your business strategy you need to be able to set and evaluate the purpose of the organizational vision, mission, purpose, philosophy. To do this you need to be able to break down the questions in which are needed to solve the problems that you are needing to answer so that you may tackle them head on. First thing you must do is Identify the problem: find the root of what you are looking for and be precise. You need to ask yourself a series of questions looking for answers in how competitors for success or failure. Questions similar to: who is affected, what is affected, when did it occur, where is the problem and why did it occur? From there you need to identify the facts and assumptions. You want to do this to identify the scope of your problem. Assumptions are a necessary evil to provoke thought but you want to assume as little as necessary. This is where you want to Generate Alternatives. You will not be able to identify the best strategy going forward if you do not consider several alternatives. Best way to be conducted is via a brainstorming session. Next you analyze those alternatives. You need to ensure that the alternatives considered meet your screening and evaluation criteria. If you have alternatives but they do not meet the requirements that you laid out prior to then you must move on to the next one until your points meet. Here you are comparing your alternatives. Here you are evaluating each alternatives cost and how they benefit towards success. It is key that while conducting this that you look at both short and long term. After all the criteria is analyzed with each option properly weighed, you need to make and execute your decision. After it is all said and done assessment is required.
The best management strategy starts with the subordinates understanding of the organizations vision, mission, purpose, philosophy, and goals of the business. The best way to lead your personnel forward is make sure they have a full understanding of what the organization has in mind. When you do this, the personnel feel that they are more than just a body, they feel as if they are an important member of a team. When each member has that same feeling and a shared understanding on what it takes to move forward so that they don't feel as if their work is for nothing. If done properly you will have a highly motivated staff willing to help the progress continue forward.
Pros and Cons are a part of perspective which can be assessed at anytime within a process but is typically assessed a t a mid or end point to evaluate what worked and what did not work within the strategy and how you are going to continue or improve upon. These not only pertain to the consumer but the employee as well. The employee can see a well driven, well oiled machine that can't be stopped. The con within it could be that the employee sees more micromanagement from the top and that the vision isn't quite laid out as the tier would dictate. The consumer can see a great product that fits their needs. Another consumer can feel it is to different or bold in which they feel that they are not the intended target and they are being left out.
Long, J., Holmes, C., & Gerecht, M. (2017, August 28). The 7 Steps in Problem Solving: Ideas for Army Leaders. Retrieved from https://www.part-time-commander.com/the-7-steps-in-problem-solving/
Leonard, K. (2018, June 29). Pros & Cons of Differentiation Strategy. Retrieved from https://smallbusiness.chron.com/pros-cons-differentiation-strategy-21452.html
KaufmanA, F. W., & Walleck, S. (2014, August 01). Strategic Management for C
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Business Case: Johns Hopkins Aramco Healthcare Operations Management Report Table of Content...