When you walk without a
destination to reach, then it is Wandering. This is simple waste of your
energy. Measuring speed if you are not going in the right direction will help
you in understanding what a waste of energy and time it has costed.
But today I write to tell the significance of
having Strategy in a place.
To begin with, let us define Startegy as a
planned pattern in a stream of decisions. Just to elaborate, One has to think
about big things while doing small things, so that all the small things go in
the right direction. According to Peter Drucker, “Strategic management is not a
box of tricks or a bundle of techniques. It is analytical thinking and commitment
of resources to action. But quantification alone is not planning. Some of the
most important issues in strategic management cannot be quantified at all.”
It can be defined as
identification and description of the strategies that managers can carry so as
to achieve better performance and a competitive advantage for their
organization. Strategic management is nothing but planning for both predictable
as well as unfeasible contingencies. It is applicable to both small as well as
large organizations as even the smallest organization face competition and, by
formulating and implementing appropriate strategies, they can attain
sustainable competitive advantage.
Without Strategy,
execution is aimless…
The Strategic Management
Process begins with SWOT analysis of the organization. If you understand the
company’s strengths, weaknesses, threats and opportunities, your first
important task is done. While SWOT analysis, one should also analyze the
mission and vision statements of the company. It is very important to do this
self analysis so that it is easier to draw a strategy.
Since, Vision and
mission statements spell out the context in which the organization operates and
provides the employees with a tone that is to be followed in the organizational
climate, thus it adds value to the drawing of strategy plan.
To re-iterate, Strategy
is important as it gives the firm a clear sense of direction and a blueprint
for the firm’s activities for the upcoming year. There is an upcoming workshop
‘Execution Excellence’ in the capital city by renowned corporate trainer, Vivek
Bindra, which can be of great benefit to the senior management who want to
excel strategy management. A strategy is all about integrating organizational
activities and utilizing and allocating the scarce resources within the
organizational environment so as to meet the present objectives. This is
the time we should act and plan our line of actions.
Priority management video...
Join Now for 1- day power packed workshop #ExecutionExcelence - which provide a complete idea on Strategic execution and Priority management.
Mark your presence ...
ExecutionExcellence on 19 March at Crowne Plaza, Okhla, New Delhi.
