Role of Strategy in the Organization Research Paper

Role of Strategy in the Organization
An in-depth examination of the function and impact of an effective organizational strategy.
# 153695 | 5,615 words | 23 sources | APA | 2012 | KE
Published on Oct 10, 2013 in Business (Management)


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Description:

The paper discusses the role of a strategy in defining the organization and relates that most business failures are attributed to a lack of strategies or the use of bad strategies. The paper explains the elements of strong vs. weak strategies, applies the 5ps-for-strategy concept to strategic thinking and compares strategy to a horse with blinkers. In addition, the paper discusses how one who dominates in core products can control how the end product will evolve, and then contrasts individual competence with corporate core competence. Finally, the paper addresses the role of resources in forming a business strategy.

Outline:
The Need for Strategy in Defining an Organization
Evaluation of Business Strategies
Contribution of the 5ps for Strategy Concept to Strategic Thinking
Strategies Impede Peripheral Vision
One who Dominates in the Core Products can Control How the End Product shall Evolve
A Contrast between Individual Competence and Corporate Core Competence
More Resources to be More Strategic

From the Paper:

"'Strategy' is a term that is used to refer to the course and scope of a given business or company over a long term (McLoughlin 2010, p.15). An 'organization' refers to a company or a social unit which is thoroughly structured and systematically managed in order to meet the need and collective goals on a regular basis (Ferris 2008, p.1). Strategy is known to achieve advantage for an organization through the configuration of resources within a challenging business environment with the purpose of meeting the requirements of market forces and also to fulfill the expectations of stakeholders. By defining an organization, strategy gives it a sense of direction in its endeavors to meet its objectives (McLoughlin 2010, p.15).
"In an organization, strategy involves a number of things. It's about where a business is aiming to reach in the long-term, the type of markets in which a business is supposed to compete and the activities involved in such markets. Strategy monitors the performance of an organization. It also endeavors to improve the performance of the business relative to the existing competitions in the available markets (McLoughlin 2010, p.25). The kinds of resources that are required in order for an organization to compete effectively are defined by strategy."

Sample of Sources Used:

  • Anderson, D., & Maxwel, J. C. (2007). Up Your Business!: 7 Steps to Fix, Build, Or Stretch Your Organization. New Jersey: John Wiley and Sons, Inc.
  • Armstrong, M. (1992). Strategic human resource management. London: Mc-Grawlhill.494
  • Baschab, J., & Piot, J. (2004). The professional services firm bible. New Jersey: John Wiley and Sons.
  • Baum, J. A., & Lampel, J. (2010). The Globalization of Strategy Research. Bingley: Emerald Group Publishing.
  • Beamish, P.(1997). Co-operative strategies: North American perspectives. California, CA: New Lexington press.

Cite this Research Paper:

APA Format

Role of Strategy in the Organization (2013, October 10) Retrieved October 18, 2019, from https://www.academon.com/research-paper/role-of-strategy-in-the-organization-153695/

MLA Format

"Role of Strategy in the Organization" 10 October 2013. Web. 18 October. 2019. <https://www.academon.com/research-paper/role-of-strategy-in-the-organization-153695/>

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