Discuss: Why is it critical for company managers to have a clear strategic vision regarding their organization?
Summarize the articles in 400 – 600 words. Use APA formatting throughout including in-text citations and references.
Reply to Post: 200 Words
Strategic planning for managers is very important because it largely determines which organizations succeed and which ones struggle. The difference is the struggles managers choose and how affectively they execute them. Strategic thinking means to take the long term view and see the big picture. This includes, the organization, that competitive environment and consider how they fit together. A lot of research has shown that strategic thinking and planning, positively affects an organization performance and success. Most managers are aware of the importance of strategic planning, as evidenced by recent research of responding executives whose organizations had no formal strategic planning process. 51% said that they were dissatisfied with organizations development of strategy. Compared to only 20% of those at companies that had a formal planning process. The 1st step in strategic management is to define an explicit strategy (Zhang,2018).
This is the plan of action that describes resource allocated and activities for dealing with the environment. Achieving a competitive advantage and attaining the organizations goals. The essence of formulating strategy it’s choosy how to be different as a organization. Managers make decisions about whether the organization will perform different activities, or will execute similar activities different than its rivals do. Affective strategy defines customers and which of their needs are to be served by the organization. Managers can define a target market geographically, such as serving people in a certain part of the country. Demographically such as a mean towards people in a certain income a bracket. A lot of organizations target people who purchase primarily over the Internet. Whether others aim to serve people who like to shop at some all stories. A core competence is something that the organization does especially well in to comparison in to its competitors. This competents represents a competitive advantage, because the organization acquires expertise the competitors don’t have. Last but not least is Candid communication. Managers openly and I avidly promote their city drink ideas, but they also listen to others and encourage disagreement and debate. At the end of the day, it’s important to listen to everyone’s ideas or plans (Falkheimer,2018).