Strategic thought and its practice Essay Example | Topics and Well Written Essays - 2000 words

Strategic thought and its practice - Essay Example Examples of this include a shift from retail trading into chain store, from single product into diversification or from supplier to manufacturer. A new strategic thought could also be a response to the changes or expansion in the market of the given business. Where there is change or expansion of market, the business should ensure that its new strategy that will enable it respond to the demands, needs and preferences of this market. Changes within an organization not only revolve around its business strategies but also its governance. Changes taking place within the leadership or governance of an organization either make it more or less effective in achieving its business goals and implementing its business strategies. Young (2010, p154) concurs with this by stating that the emergent patterns of governance affect the effectiveness of a business regime and this is important for solving problems in its business environment. This implies that if the changes in the organization are makin g its more effective in implementing business strategies, the leaders of the organization are in a position to develop complex business strategies meant to achieve a higher competitive advantage for the business. For example, such a business could formulate a strategy for penetrating into international markets, expanding the product base for its local markets or formulate new and more productive work strategies. Industry conditions Industry conditions describe the nature of the business environment an organization operates in. It includes the characteristics of its customers, number of competitors and power of the organization verses that of its competitors. Ohmae (1982, pp 47)... The researcher states that the success of an organization depends on the level upon which it achieves its main goal and various sub-goals. This requires that an organization formulate strategies for attaining its goal and sub-goals. Strategy simply put, refers to an action plan specifically designed to achieve a certain goal. Petraf explains that a strategy provides a comprehensive way of pursuing economic ends by providing a long-term scope and direction through which an organization configures its scarce resources in the challenging environment. This is to say that a strategy sets a direction for focusing efforts. This way, a strategy enables an organization to achieve a business advantage by meeting the needs of its market or various markets and to fulfil the expectations of stakeholders. It should be noted that an organisation cannot depend on one strategy all its lifetime. Rather, there are conditions that stimulate or necessitate change in strategic thought over time and the ne ed for strategy implementation in order to achieve the new goals of the business, and to facilitate the realisation of the organization’s mission. This means that conditions of strategic thought and practice are of great interest to the management of every organization, state, and group of workers. Strategic thought and its practice is of great importance for any business that is aiming to thrive and profit from it its current and diverse socio, economic and political environments.

Qualities I Lacked to Work Effectively in a Group Personal Statement

Qualities I Lacked to Work Effectively in a Group - Personal Statement Example Being an egocentric person, the situation was too difficult for me to survive. Being a person who always liked to outperform others and too intolerant in failures, I found the situation humiliating far beyond my expectations. Along with these, the hard reality hit my mind that my abilities were not as good as I expected and I had a long way to go to prove my mettle. It became a nightmare for me to work in a group in the field. Many a time, I found my seniors engaging other members in the team with works that I could do better and adding to my woes, I always erred or had insufficient knowledge in the ones I was handed. I was getting criticized but had no way to react as I found myself in a world where no one seemed interested in recognizing the talent of another one; instead, everyone was looking for ways to undermine others. It was a picture that I never dreamt of. There were two things that I lacked; lack of knowledge in certain specific areas and lack of experience. It was too conf using for me to take a decision; on one hand, I wanted to quit the profession forever and on the other, I wanted to prove my abilities after getting the required qualifications. Finally, I decided to put off my ego and asked my tutor about the future course I had to adopt. She was more than ready to provide advice and on her advice and support, I decided to join this course so that I can improve my knowledge and have a new beginning with sufficient knowledge. In addition, I wrote to MSF after joining my course and I am advised to complete my studies to apply for even better positions in MSF. Now, I am happy that I did not lose heart and give up the idea. Feelings – looking in The incident made me look deep into the wide variety of emotions that ruled my mind at that time. As I already mentioned I had an egalitarian nature and I had a problem accepting suggestions and advice and I always nurtured the feeling that I am better than others and it was so in my academic pursuit. Ho wever, out in the field, I found it hard to digest that what I do just goes wrong or the workplace requires more ability than I possessed. It was totally indigestible and unbelievable in the beginning as my ego did not accept it that easily. Still, I knew very well that I could do much better than what many others did but had no opportunity. I found it humiliating as I was very often criticized for the lack of knowledge. Now I have to accept the fact that the reason behind my misery at work was mostly because of my ego and lack of knowledge compounded with my dislike to seek help from others. However, the feeling of utter disappointment made me seek help, though reluctantly, and when I sought advice and became ready to accept, the solution was immediate.