Developing Strategic Vision and Mission Strategic Vision concerns where the firm is going. A mission statement concerns on what the business is, what it does and what its purpose
Developing Strategic Vision and Mission In order to make a Vision relevant and meaningful, different elements must be satisfied.
Setting Strategic Objectives
Setting Strategic Objectives It is used to track performance. It pushes the firm to be more inventive and to be more concerned with the results. It serves as pull towards common directions. It expressed in specific quantifiable terms what is visualized in the vision and mission statement.
Setting Strategic Objectives
Setting Strategic Objectives
Setting Strategic Objectives Financial Objectives It focus on achieving acceptable profitability in a company’s pursuit of its mission/vision, long-term health, and ultimate survival.
Setting Strategic Objectives Strategic Market Objectives It focuses on the company’s intent to sustain and improve the organization’s competitive strength and long-term market position through creating customer.
Setting Strategic Objectives Internal Operational Objectives It focus on business process that have an impact on creating customer value and satisfaction. Internal objectives focus on maintaining the firm’s core competencies.
Setting Strategic Objectives Innovative and Learning Objectives It focus on activities that assist to improve and build the company’s value creating activities. It involves increases the firm’s knowledge base and learning best practices so the company is continually on the cutting edge.
Crafting Strategies
Crafting Strategies It is the task that serves as the fulcrum and determining factor that separates the planning phase and the evaluation phase. It addresses the idealism of the top management based on stated strategic objectives in light of the need to accept the realities in the field or the place where the strategy is to be implemented.
Crafting Strategies
Crafting Strategies
Crafting Strategies
Crafting Strategies Forming responses to changes in industry and competitive conditions. Produce sustainable competitive advantage. Build competitively valuable competencies and capabilities. Uniting strategic initiatives. Addressing strategic issues facing the company.
Crafting Strategies
Strategy Execution
Strategy Execution As a process: It is a discipline or “systematic way of exposing reality and acting on it.” They explain that “the heart of execution lies in three core processes“.
Strategy Execution
Strategy Evaluation, Monitoring, and Revision
Strategy Evaluation, Monitoring and Revision
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