MARKETING

Strategy Development - Long Term View



Strategy Development - Long Term View

Introduction

Strategic management has gained immense recognition in recent years. Strategic management is an ongoing process of formulating strategies which enables organizations success and consistent growth over time. It creates balance between organization and its environment. Strategic management points out the potential strengths of the organization that it possesses for achieving its goals; weaknesses that hinder in goals accomplishment; opportunities and markets that can be exploited in favor; and threats that are present in internal and external environment.

A well-designed strategy can bring various benefits to the organization in present as well as in future. Strategic Management learns from past, analyzes the present and accordingly plans for future and anticipates for it. A strategy is made on logical and rational manner, therefore its success and its effectiveness is certain. Strategic management comprises of series of steps and a specific procedure, thus it reduces frustration. It seeks opportunities and leads the organization to the road of success and growth. With well-formulated strategies, organizations can avoid financial crisis and can work efficiently. Strategic management also enhances the reputation of the firm because of consistent growth that results from firm's success. Often organizations end up shutting down the business. With efficient strategic management process, organizations can anticipate the events in future and they can run the business smoothly.Strategic management analyzes the threats prevailing in the external environment and accordingly organizations can either work to eradicate the threats or else neutralizes them in a way that they become an opportunity for the organization. Strategic management process follows proactive approach which ensures organization's success by grasping every little opportunity that is available.

Great strategies are the key lever to securing results. A strategy is generally understood as a selected action (or actions) to achieve a clearly named objective. Leaders need new literacy and tools in strategy development. They also need to be willing, as learning leaders, to use inquiry as they pursue organizational performance. Logic models are an emerging and effective tool to support the critical choices in strategy development.

Logic models can be an important tool that describe strategies, organize the relationships among complex pieces, and provide a shared action map. Most logic models are developed with the active participation of other stakeholders and therefore require leaders who are inclusive. In the political contexts often present for nonprofit organizations, logic modeling can be used to identify and navigate differing opinions about the best way to achieve desired ends.

Capable leaders use the compelling mission of their organizations to attract talent and financial capital while thoughtfully considering best strategies. Strategies are implemented and adapted with a singular intent of making progress toward results. Like a ship's captain, effective nonprofit leaders aim for a specified destination but recognize that course corrections are inevitable (Joyce

& Woods, 2001, pp. 08-11).

Discussion

Recent Strategic Development History

Since years, Oxford University has been providing a very distinguishing environment which works for the best of academics. Our collegiate system helps undergraduates, graduates and academics to make up a ...