Crafting and Executing Strategies

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Crafting and Executing Strategies

Introduction

The piece of writing documents strategic thinking and strategic planning, and the features defining their importance in framework of organization procedures. The firm that I have selected for the purpose of this paper is the fizzy drink manufacturing and selling firm. It explores the reasons why strategies are important for the successful running of organizations.

Discussion

The Importance of a Strategic Plan for the Success of the Business

The approach of strategic thinking and planning is significant to every kind of organization. This is partially because of the fact that every well thought out business has long term and critical aims to achieve. For that purpose, organizations have set out most efficient ways to reach these goals using limited resources to generate maximum output (Pertz, 2007). However there is no particular and rigid strategic approach in an organization and the framework of strategic thinking and planning in most of the organizations is based on contingency theory.

The importance of strategic planning for any firm can be signified by the fact that it acts as a tool for organizing the present on the origin of the protrusion of the desired future. It is a road map that guides an organization from where it is now to where it desires to be in upcoming years. Strategic planning sets out the missions, values and goals of the company. It tells directs the people working in it towards specific vision. Without it the missions and visions would be clouded ones and people working under the organization will not know what “exactly” is expected from them. It presents the by and large strategic direction to the administrative framework of the organization and provides precision in direction to different dimensions of the organization such as marketing strategies, financial management, competitive strategies and achievement strategies that are consistent with business. It also sets out policies that can help in facilitating company goals and identifies potential market threats thereby adapting to tactics that can counteract those threats (Hawkins, 2012).

For the food industry related business like the one I have selected, the market competition is becoming tough day by day. With the technological advancements and quickly changing world need the demand for better product is increasing. To continue to flourish in markets for the upcoming years and beyond, it is important to look ahead, develop comprehensive understanding of trends and forces that can shape the fizzy drink business in future. Getting ready for tomorrow is the basic criterion of strategic planning. This will create long term destination for our business and will provide us with an edge of struggle in the global market.

Mission Statement

Strategic planning sets out missions. The missions I have for my firm are divided into following categories.

To develop into the supplier of choice every time, in every genre we maneuver by providing maximum level satisfaction to our customers and retailers with the best quality of manufactured products and services by means of highly trained, ...