Bus 1001 discussion unit 5 PDF

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my assignments of the unit...

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In my opinion, strategy isn't something static and it should never be, however is a direct result of ceaselessly finding new opportunities from the outside environment, every one of which was determined by a genuine vision. The issue is that most managers don't have a clue about how to make a genuine vision. So instead, they duplicate vital patterns or even strategies of others, which isn't right. regarding values, a strategy in most cases is ought to be founded on values. I think that values form a solid ground in the beginning stage for strategy followed by a vision. however, vision statement is no help in creating a strategy. And by that I don’t meant the public image It gives out for the firm. But it’s usually too general to provide a strategic plan to keep up with the inevitable changes, the idea here is that values defined by vision and mission statements are usually made in the past, while a strategy is something to visualize and implement to affect the future, you can’t anticipate future based only on values without a well processed plan. It’s basic sense. So, this why in certain cases, the values and strategy may differ a bit and it could affect the firm in both ways in my opinion. Kodak for instance the perfect example of the miss alignment between strategy and values and how it could bring a bad impact on you. I looked up their vision statement which I’m not sure if it’s something permanent for the firm as I believe that some out there change their values according to the need to stay competitive, it says: “Our heritage has been and our future is to be the World Leader in Imaging”. but in fact, their strategy in the 80’s for instance was mainly focused on the profitability and KPIs instead of lunching the new digital cameras which meant the future of imaging. and so, they failed to keep up with the evolving environment in the industry, and you can’t lead the world imaging without taking high-risk decisions by switching and implying new technologies. Leaders of the organizational or institutional structure are much responsible for the pair-ability of strategy and the vision, mission and values. Thus ensuring “appropriate distribution resources to achieve the intended goals. Therefore, tough choices must be made and the leader must be the one to force the issue, and so, working from vision, mission and values must be encouraged by the leaders as a mean to maximize outcome. Must be mindful to align new strategy to the vision, mission and values to avoid creating a negative consequence, but again I insist, it’s not always the case from where I see things, sometimes you need to change strategy into something that does not work that well with the values just to survive, this may imply major changes in the core of a firm that can reach values itself....