The Role of Strategy Making in an Organization

[Instructor's Name]

Introduction1

Discussion1

Role of Strategy in an Organization2

Influence of Globalization on Organizations2

Case Study-Kellogg's3

Product Life Cycle Model3

Stages of Product on Different Phases of Product Life Cycle5

Launching5

Growth6

Maturity7

Growth Strategies9

Growth Strategy for Nutri-Grain Kellogg's11

Implementation of Extension Strategy12

Conclusion13

References14

The Role of Strategy Making In an Organisation

Introduction

This assignment is based on the role of strategy making in an organization. However, considering the role of strategies the main emphasis will be on the strategies that are associated with the growth of the business that serves as the path for the success of the overall business of an organization. In order to analyze the role of strategy within an organization, the case study of Kellogg's will be taken under consideration. Considering the case study the products of the company will also be discussed along with the identification of the stages in the PLC- Product Life Cycle Model. After the identification of the products on the life cycle the strategies will be suggested for the growth of the products. Furthermore, in this assignment, the role and importance of strategies will also be discussed in detail.

Discussion

Every business or organization needs to define the mode in which the organization is required to govern and plan work for which the company needs to file a clear and direct communication with its staff in order to achieve the desired objectives. One of the ways that they reach those goals is through strategies which are tools used by managers to encourage personal growth within the organization (Vargo & Lusch, 2004, Pp.4 - 11). A strategy is a set of actions to be developed to achieve strategic objectives, which involves defining and prioritizing solve problems, propose solutions, and identify the requirements for the performance through which goals and objectives of an organization can be achieved.

Role of Strategy in an Organization

The importance of strategy in an organization can be understood from the fact that proper formulation of strategy delivers a framework for the increase in the effectiveness of the organization and its operational planning as well. The strategies basically indicate the direction for the activities of an organization and eventually turn out to satisfying employees. There have been several research works that have studied the importance of the strategy in an organization; however Freedman identified that the organizations with the planning systems are closer towards the strategic management theory that can bring superior financial performance in the long run (Freedman, 2003, Pp.2-4).There are the organizations that results in significant increase in profits, sales and efficiency in their operations that have formulated strategies linked with their aims and objectives of the business.

Influence of Globalization on Organizations

Just a few years, the interest of almost all organizations, large and small, was limited to what was happening within their national borders. Exchange of a product with neighbouring countries was very limited and was subject to marked protectionist legislation. With very few exceptions, the personnel manager had only enhance what was happening within their national context. Globalization is the terms that has influenced the ...