The text states that strategic decisions are (1) rare, (2) consequential, and (3) directive. These deal with the long-term future of the entire organization. To aid in the decision making, the authors suggest an eight step decision-making process. Found on page 25 in the text, these include: (1) evaluating current performance results; (2) reviewing corporate governance; (3) scanning and assessing the external environment; (4) scanning and assessing the internal corporate environment; (5) analyzing the strategic factors; (6) generating and selecting the best alternative strategy; (7) implementing selected strategies; and (8) evaluating implemented strategies. These guidelines for making and evaluating decisions at a strategic level can be important for leaders.
Open today’s issue of The Wall Street Journal and look for an article about new moves being made by a corporation, specifically the decisions that are strategic. At what level is each of the decisions that you identified? Functional/Business/Corporate? Why do you believe this to be the case? What is your assessment of these decisions? Will they be effective? Why? How have you decided this?
Below is an excerpt straight from the textbook:
The typical larger business addresses three types of strategy: corporate, business, and functional. Corporate strategy describes a company’s overall direction in terms of growth and the management of its various businesses. Corporate strategies generally fit within the three main categories of stability, growth, and retrenchment. Business strategy usually occurs at the business unit or product level, and it empha-sizes improvement of the competitive position of a corporation’s products or services in the specific industry or market segment served by that business unit. Business strat-egies may fit within the two overall categories: competitive and cooperative strategies. For example, Staples, the U.S. office supply store chain, has used a competitive strategy to differentiate its retail stores from its competitors by adding services to its stores, such as copying, UPS shipping, and hiring mobile technicians who can fix computers and install networks. British Airways has followed a cooperative strategy by forming an alliance with American Airlines in order to provide global service. Cooperative strategy may be used to provide a competitive advantage in situations where the cooperating entities are not in direct competition for customers. Intel, a manufacturer of computer microprocessors, uses its alliance (cooperative strategy) with Microsoft to differentiate itself (competitive strategy) from AMD, its primary competitor.
Functional strategy is the approach taken by a functional area to achieve corporate and business unit objectives and strategies by maximizing resource productivity. It is concerned with developing and nurturing a distinctive competence to provide a com-pany or business unit with a competitive advantage. Examples of research and devel-opment (R&D) functional strategies are technological followership (imitation of the products of other companies) and technological leadership (pioneering an innova-tion). For years, Magic Chef had been a successful appliance maker by spending little on R&D but by quickly imitating the innovations of other competitors. This helped the company keep its costs lower than those of its competitors and consequently to compete with lower prices. In terms of marketing functional strategies, Procter & Gamble (P&G) is a master of marketing “pull”—the process of spending huge amounts on advertising in order to create customer demand. This supports P&G’s competitive strategy of differentiating its products from those of its competitors.
Socialism is a conviction that everybody in the public arena ought to be equivalent and offer their riches. This is the result of communism and absolution (Laskin 45). After the Russian insurgency in 1917, it turned into a strong wellspring of data. As indicated by Karl Marx, "All as indicated by his capacity, as indicated by his needs" these speculations are spread by Mr. Karl Marx. He accepts that putting forth himself mirrors his attempts (McLellan 1). He likewise accepts that socialism or fairness is "the last phase of life" (Leone 1). "Network" is a shapeless term on the off chance that it is utilized interchangeably with "gathering". People are individuals from numerous gatherings and are along these lines some portion of numerous networks. School is a network. The people group is a network. The city is a network. The expert is a network. The congregation is a network. Consequently, schools are a) networks, b) elements in bigger networks, and c) littler networks. That implies excessively, the network has neither rhyme nor reason. Schools examine well about their associations with the network. This demonstrates the school is not quite the same as the network. Without a doubt, schools exist in covering networks and can go about as networks themselves. The people group is a gathering of individuals who are identified with one another and share basic qualities. Topography is neither a network, a part nor a coincidence.The enticement of a casual lady spies me and a double crosser to my nation "Sex has driven me to socialism" Volume from individual to individual. In 1951, the most unlimited weapon for ladies heavily influenced by men 2, 2, SEX demonstrated one of the best and slippery gadgets of the Communist Party's distinct advantages . Furthermore, it meddles with serious war affirmation against the United States and every single nice individuals. Under the steady endeavors of Kremlin, the entire world will turn into a slave without faces, as their official tune "Global" demands for "universal Soviets to be human" Network patrons effectively bolster the development pace of the VeChain people group and biological system in territories, for example, network commitment, network the board, aptitude, and so on. They likewise speak to the interests of the network in stage the board. You can utilize the obtained VeThor to advance network exercises and further grow the extent of the VeChain environment. The Foundation audits all applications dependent on the definition rules of every classification and continuously relegates specialists' mediators to candidates esteemed qualified by the Foundation after dispatch of the primary system. As the stage advances, the Foundation can recognize members in different classes. Network Foundation. These establishments gather assets from the neighborhood network and contribute and rejoin the network. They regularly deal with a few little families and corporate establishments and gather assets from the general. Since they generally have a lot of adaptability as far as financing, their appropriations can regularly be utilized to improve offices in different manners. Activists of the network extremist network, notwithstanding acting naturally inhabitants, may at first assistance sort out the work and may think a lot about issues and related offices. Political way of thinking dependent on network dynamic, social equity, and avoidance of the standards of financial and social prohibition overshadow network objectives over individual objectives. As communists contend, social fairness, aggregate dynamic, pay conveyance dependent on salary, monetary and political way of thinking of creation capital and private enterprise and full socialism backing the open ownership of common assets Interim phase of social advancement between. This is a system contrasted with free-laundromat private enterprise where the state regulates all significant asset creation businesses and deals with most of the economy. A gathering of individuals in a network with a typical point (eg history, values, devotion, shared objectives). In this system, network individuals are given enrollments (eg "comparable") characterized by individuals' possession dependent on outer definition rules identified with network capacities (eg as school of understudies) and individual trust for participation Recognition) is incorporated. Individuals with political or social issues 2 Citizenship is the way that the basic association among individuals is more noteworthy than that of huge families (counting relatives), and resident's dynamic, interest, administration and It is the guideline of authoritative administration. , Mechanism and Process The expression "network" is frequently used to allude to where individuals live and to all individuals living there. A people group may likewise allude to a gathering of individuals who perceive themselves as networks since encounters, accounts, values, religion, culture, and so on are shared. The chairman can consider his town a network, however in many urban areas there are a few self-characterized networks - the Italian-American people group, the gay network, the Jewish people group, the African American people group, the business network I don't accept that all individuals from these networks have a similar view or act a similar way, yet I think there is something in the same way as different individuals from the network.>GET ANSWER