Organization: Its Mission And Strategic Intent ✓ Solved

An Organization: Its Mission and Strategic Intent In this

In this discussion, you will consider a company's strategic intent, its mission, and the role of stakeholders in developing an organization's strategy. Select any two of the main questions and address all of their bullet points:

Question 1

You have learned that stakeholders have profound impact on the direction and the success of a company. Based on your readings and learning, complete the following tasks:

• Define the various classifications of stakeholders in a company and their role in strategic management decisions.
• Explain the connection between stakeholders and competitive advantage.

Question 2

You learned that strategic intent is an extension of a company's organizational culture and the cornerstone of the firm. Based on your readings and learning, complete the following tasks:

• Discuss the importance of strategic intent and its impact on organizational success.
• Discuss why it is important and how an organization can move from intent to implementation.

Question 3

Based on your readings and learning, complete the following tasks:

• Describe the attributes of an effective strategist.
• Explain how you would create and sell a strategic mission to stakeholders.

Question 4

We cannot always control political, technological, economic, or cultural issues. Given that, answer the following questions:

• How often would you reevaluate your business strategy to maintain a competitive edge in the market place?
• What factors would you use to evaluate the need for change, and what tools would you use to make the changes?
• While performing an external environmental analysis, how important is it to use all four components and why?

Start reviewing and responding to the postings of your classmates as early in the week as possible. Respond to at least two of your classmates. Participate in the discussion by asking a question, providing a statement of clarification, providing a point of view with a rationale, challenging an aspect of the discussion, or indicating a relationship between two or more lines of reasoning in the discussion. Complete your participation for this assignment by the end of the week.

Paper For Above Instructions

Strategic management involves understanding how various stakeholders influence the direction of a company. The importance of stakeholders cannot be overstated; they range from employees, customers, suppliers, to the community, and each category plays a critical role in strategic management decisions. Stakeholders can be classified into primary and secondary stakeholders. Primary stakeholders are directly affected by the organization—these include customers, employees, and shareholders. Secondary stakeholders, although not directly involved in the company’s survival, can influence its success, often including governments, media, and activist groups. Their various interests must be carefully balanced—disequilibrium can lead to conflicts or even crises.

The connection between stakeholders and competitive advantage is evident in how responsive companies are to their needs and expectations. For instance, a company that prioritizes customer feedback can create products and services that meet market needs effectively and thus achieve a competitive advantage. Similarly, when firms actively contribute to social and environmental issues, they can enhance their brand reputation, leading to goodwill and increased customer loyalty.

Strategic intent is defined as the clarity of an organization's goals and the driven purpose behind its actions. This essence of strategic intent is significant because it aligns the organization's culture with its strategic objectives, ensuring every employee understands their role. A clear strategic intent can motivate employees and galvanize resources towards the company’s long-term goals. The impact of strategic intent on organizational success is profound; companies with a strong strategic intent are more adaptable to changes in the market environment.

Transitioning from strategic intent to implementation requires a structured approach. Organizations must develop comprehensive action plans that outline how to translate this intent into concrete actions. Change management practices become crucial here, including involving employees in the strategic discussions, which ensures that their insights and buy-in are included in the implementation process. Such collaborative approaches cultivate a sense of ownership, which is fundamental for successful strategy execution.

An effective strategist is characterized by visionary thinking, decisiveness, the capacity to analyze data, and exceptional communication skills. They must exemplify flexibility, adapting strategies in response to evolving conditions. Communicating a strategic mission to stakeholders necessitates transparency and enthusiasm; it involves acknowledging the stakeholders’ concerns and demonstrating how the strategic intent aligns with their interests. Successful strategists often employ storytelling methods that make the vision relatable and compelling.

Evaluating business strategy is an ongoing process crucial for maintaining competitive advantage. Companies should periodically review their strategies—typically on an annual or bi-annual basis—to adapt to changes in market conditions, competitor moves, and innovation landscapes. Critical factors for evaluating these needs include changes in consumer preferences, advances in technology, and shifts in economic conditions. Tools such as SWOT (Strengths, Weaknesses, Opportunities, and Threats) analyses and PESTEL (Political, Economic, Social, Technological, Environmental, and Legal) frameworks are beneficial for examining external factors that may necessitate strategic adjustments.

Conducting an external environmental analysis using all four components—political, economic, social, and technological—ensures a comprehensive understanding of the market landscape. Ignoring one aspect can lead to oversights that negatively impact strategic decisions. Each component has its dynamics that can significantly influence business operations; for example, technological advancements can create both opportunities for innovation and threats from competitors.

In conclusion, understanding the varied landscape of stakeholders and strategic intent is essential in strategic management. Companies that successfully integrate these elements into their strategic planning are more likely to create a competitive advantage and drive sustained growth.

References

• Freeman, R. E. (1984). Strategic Management: A Stakeholder Approach. Pitman.
• Mintzberg, H. (1994). The Rise and Fall of Strategic Planning. Prentice Hall.
• Barney, J. B. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99-120.
• Pfeffer, J., & Salancik, G. R. (1978). The External Control of Organizations: A Resource Dependence Perspective. Harper & Row.
• Kaplan, R. S., & Norton, D. P. (2001). The Strategy-Focused Organization: How Balanced Scorecard Companies Thrive in the New Business Environment. Harvard Business School Press.
• Porter, M. E. (1985). Competitive Advantage: Creating and Sustaining Superior Performance. Free Press.
• Wheelen, T. L., & Hunger, J. D. (2017). Strategic Management and Business Policy: Globalization, Innovation, and Sustainability. Pearson.
• Barney, J. (2002). Gaining and Sustaining Competitive Advantage. Pearson.
• Thompson, J. L., & Strickland, A. J. (2012). Strategic Management: Concepts and Cases. McGraw-Hill.
• Johnson, G., Scholes, K., & Whittington, R. (2008). Exploring Corporate Strategy. Prentice Hall.