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Strategy Assg 1

Strategy Assg 1

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Published by Sheila692008

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Published by: Sheila692008 on May 13, 2010
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04/30/2011

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The organization exists in the context of a complex world, which has factors such as political, environmental, socio, technological and legal world. That influence the wayan ornagisation operates in a complexity of a fast moving market environment makingchange so often difficult to manage.The environmental change tends to be more complex for some organization thanothers are therefore, understanding this environment is crucial to strategic decisionmakers. How this affects the organization may be well understood by examining theenvironmental variables such as Political, Economic, and Technological, legal howthay are expected to change. Many of these changes give rise to opportunities andothers exert threats on the organization. Because of this, strategies have to beemployed and formulated to deal with the change to help strategy planners to identifykey opportunities, threats and analyses internal strengths and weaknesses. This paper is aimed at defining what a strategy is and why it should be undertaken. It will further analyze factors in the socio economic environment that affects the determination of strategy in an organization also focus on the potential changes in variables thatinfluence strategy.
2. WHAT IS STRATEGY?
Definition:
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“Strategy can be defined as the direction that an organizationundertakes or plans to undertake over a long term, whichachieves competitive advantage in a constant changing environment by employing its resources and competenceswith the aim of fulfilling stakeholder’s
 
expectations
.
” GerryJohnson,Kevan Scholes 2008 pg 3.G.A Cole (1997) defines strategy as the determination of the basic long-term goalsand objectives of an organization and the adoption of course of action and theallocation of resources necessary for carrying out those goals. He further states that itis fundamentally about setting the underpinning aims of an organization, choosing themost appropriate goals towards those aims and fulfilling both over time.Goals are set by an organization, which is its primary objectives to be achieved;however, these goals are subject to obstacles hence strategy needs to be formulated inorder to identify and provide as solution. From the definitions, strategy entails theway forward, the way an organization moves from one position to the other . thedirection that it undertakes in order to achieve goals.
3.WHY DO WE NEED STRATEGY?
To be able to answer this, one should understand why there is need for anorganization to take a certain direction. Laurie.J.Mullins (2008) argues that strategy,which describes the direction of achieving these goals, without which it will bedifficult for an organization to coordinate the efforts of its employees. Therefore It isnecessary to achieve the benefits of co-operation from its Human Resources. Hefurther explains that a business needs a structured strategy that provides the starting point for moving forward and a means of assessing and responding to change.Hence without this Strategy, an organization will neither have a planned purpose nor acourse of action.Apart from that objectives will not be communicated therebyimpeding implementation and lastly obsolete patterns of behavior become verydifficult to modify. Notes that, the purpose of strategy is to ensure that the goals areviable and achievable in the environments in which the business operates.And to beable to take advantage of opportunities nad forecasting threats.
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