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Now, one of the more important tasks for corporate executives is to participate in the development of the organization's strategy and provide advice. Unfortunately, the word strategy has been used up, and different people have different understandings. Even famous scholars and senior managers in the field of management are difficult to define, and it is difficult to form a unified scope. the opinion of.
We don't want to add chaos, we add a few more definitions to the long list of definitions, but we quite confident that the winning strategy is based on innovation and difference, that is, “different†from competitors, and for consumption. Those who value it. Economists define the purpose of these differences, and in strategic management terms, try to develop unique organizational resources and competitiveness. The strategy should be carefully considered and translated into a competitive advantage based on the market in which the organization is located.
Competitive advantage is a unique way for organizations to position themselves in the market to gain an edge. This advantage often reflects the organization's ability to create and maintain a sustainable level above the industry's average profit margin. Strategic planning can help organizations gain a competitive advantage, while strategic planning refers to the professional and systematic work to achieve the organization's strategic goals, and to define responsibilities to ensure the implementation of the strategy. In the process of developing a strategy, management decisions involve the following aspects.
Determine the scope of your organization's activities. Where do we do business? Who are our target customers? Which competitors do we have to avoid? What parts of the value chain do we want to emphasize? Which ones are done by ourselves and which are outsourced?
Coordinate organizational activities and the environment. This requires finding a strategy that creates a satisfactory “appropriate†level.
Match organizational activities and resource potential. This requires working within the capabilities of the customer while earning customers and generating profits.
Changes are brewing throughout the organization. This can be complicated and requires a good execution strategy.
Rational allocation and redistribution of important resources of the organization. This requires us to find ways to harness the potential of our resources when using resources.
Identify the value, expectations, and goals of the impact strategy. This means that decision makers need to understand what is going on and understand the direction of the organization's current and future development.
Determine the direction of the organization's long-term development. This period may last for five to ten years, or even longer, depending on the nature of the changes and competition that affect the industry. In this process, management decisions may vary depending on the time chosen by the decision maker and the responsibilities assumed. These decisions are broadly divided into three categories, namely, strategic decisions, tactical decisions, and business decisions.
Strategic decision-making has a significant resource allocation impact, which determines the tone of the decision-making of the organization. It is relatively rare in nature, and it is virtually impossible to change, which has a potential substantive impact on the competitiveness of the organization in the market. These strategies are developed by senior management and will influence the organization's business direction.
Tactical decisions are not as broad as strategic decisions, involving the formulation and implementation of organizational policies. These decisions are often made by middle managers and often have a significant impact on marketing, accounting, production, business units or products, but have no impact on the entire organization. In general, tactical decisions involve less resources than strategic decisions.
Business decisions are the day-to-day decisions needed to support an organization's operations, and these decisions can be executed in a matter of days or weeks. Business decisions are made by grassroots managers. There are obvious differences between business decision-making and tactical decision-making and strategic decision-making: business decision-making is more frequent, and often formulated as “hurriedâ€; business decisions are often structured and generally accompanied by clear program guidelines or easy-to-understand parameters.
Finding a way to achieve the right or coordinated integration between an organization and its (operating or competing) environment is an important task for business executives, which requires a lot of effective and reasonable analysis, taking into account the global nature of the organization. Competitive environment.
It is impossible for any executive to understand the entire competitive field so that all decisions can be made correctly. In today's complex and chaotic global competitive environment, there is an urgent need to make meaningful things, think strategically, and improve understanding of the competitive field, which is why organizations develop and improve their analytical capabilities. Therefore, in order to make an organization successful, it must be analyzed.
However, isn't analysis not everyone learned at school or at work? Can we rely on intuition, courage and experience to achieve future success like everyone else? the answer is negative. We believe that a thorough analysis of competition, the environment, organization and strategy will help you at least in the following areas: early warning of potential development opportunities or emerging threats in a competitive environment; Objective and non-short-term assessment of relative competitive position; enabling organizations to adapt to changes in the environment faster and easier; establishing organizational strategy, marketing, sales or product planning based on relevant and timely understanding; convinced that decision-making is based on the system Understanding, and this understanding reduces ambiguity and complexity.
The purpose of performance analysis is to better understand your industry, your environment, and your competitors in order to make better decisions. Improving the quality of decision-making should help to improve the quality of the strategy that provides a competitive advantage, which will result in better performance than competitors.
Any analysis should be implemented, that is, it is aimed at the future and should help decision makers better develop strategies and tactics that are competitive. In addition, the results of the analysis should also enable you to better understand the competitive environment than competitors and recognize current and future competitors, especially their plans and strategies. The ultimate goal of the analysis is to bring better business results!
How is a reasonable corporate decision made?