Corporate Strategy and its Importance
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Disc. Bd. #2 – What Is Strategy and Why Is It Important?
The five (5) tasks of strategic management are clear:
– Develop a strategic vision and business mission;
– Setting objectives;
– Crafting a strategy to achieve the objectives;
– Implementing and executing the strategy; and
– Evaluating performance, monitoring new developments, and initiating corrective action.
But, who does strategy — the CEO? Only the CEO? The “upper” echelon? Line Department Managers? Staff Department Managers? Operational Unit Managers? Or, does everyone do it??? And what do they do??? Mention “long-term” and “short-term” in your response.
In this regard, what is the role of the role of the Board of Directors — should they be very involved (overly involved)? Or, should they rubber-stamp everything that management puts forth? What does Sarbanes-Oxley say about Board involvement?
Note, our PowerPoints include some special issues about strategy, including:
Strategy is about asking the right questions:
What must managers do, and do well, to make
a firm a winner in the marketplace?
Strategy requires getting the right answers:
Good strategic thinking and good management of the strategy-making, strategy-executing process.
First-rate capabilities and skills in crafting and executing strategy are essential to managing successfully.
Is that all that “strategy” is about???
Take a piece of this intro and “run” with it! Use some real-life examples — use Google, if necessary — discuss your job; discuss your former job; what about the job(s) of your parent(s); or any organizations that you’ve read about; etc., etc., etc.!
View the slides again from Chapter 1 and other articles, books, and slides; read the chapter core concepts; read the chapter outlines; and, of course, read the chapters .
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Poor (1) |
Language/Spelling/
Grammar |
Discussion has no spelling or punctuation errors and very few grammatical errors. Very well written and excellent use of business language. |
Discussion has a few punctuation or spelling errors. Few grammatical errors that don’t affect meaning. Well written and use of business language is acceptable. |
Discussion has some punctuation or spelling errors. Some grammatical errors but generally don’t affect meaning. Language is satisfactory overall but use of more appropriate business language is required. |
Discussion has numerous punctuation or spelling errors. Numerous grammatical errors that affect meaning. Language used is unprofessional and not appropriate for business use. |
Discussion Organization and Formatting |
Relevant sections are included, and each is organized effectively. Formatting is professional and consistent and includes all required elements. |
Relevant sections are included but could be a little better organized. Formatting is acceptable and/or one or two required elements are missing. |
Relevant sections are included but organization could be improved. Formatting is inconsistent and/or many elements are missing or not formatted appropriately. |
Sections are missing and/or poorly organized. Formatting is messy and unprofessional. |
Analysis/Thinking |
Analysis is comprehensive and detailed. Thinking and ideas are presented clearly, are engaging and thorough. |
Analysis is sufficient. Thinking and ideas are clear but could be expanded to be more thorough. |
Analysis is fairly basic and/or thinking and ideas lack some clarity and depth. |
Analysis is very basic and thinking and ideas are superficial and lack clarity. |
TOTAL |
Corporate Strategy and its Importance
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