MGCR 423 Lecture Notes - Lecture 3: Smart Criteria, Vision Statement, Loose Coupling
Document Summary
Strategy lecture 3 strategic management and competitiveness. Is most effective when its development includes all stakeholders. Is supported by upper management decisions and actions. What is important is that the organization has: a long term raison-d"etre that doesn"t change and, a more concrete shorter term goal that still provides flexibility in order to achieve it. What are some examples of values of an organization: 4-7 core values, ex: integrity, sustainability, transparency. Why have explicit values in an organization: guidelines for decision making (hr, give re assurance to stakeholders, marketing, strengthening company culture, question is how much people buy into it. An integrated approach to strategy and implementation if imperative: an integrated management approach is essential to create true lasting value in your organization, some factors to keep in mind (not exhaustive) Sample components of strategic plans and action plans directional. Strategic plan components: executive summary, analysis document, key issues/opportunities, mission and values, vision statement, strategies.
