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Discusses how to be analytical at work in the business world.... More...
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Analysis and Its Role in Business Analysis is the business arena is directly linked to strategydevelopment which will be the focus of this discussion Thinking andacting strategically is the end result of analytic process that should bemastered by every executive and manager A strategic plan for anorganization moves from an external and internal research effort scanningthese environments to the development of a corporate mission statement aset of measurable objectives a listing of specific strategies that will beused to achieve objectives a listing
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Thinking andacting strategically is the end result of analytic process that should bemastered by every executive and manager. (2 ). Schultz (1) sees leveraging as integral to the strategicplanning process in that leveraging moves resources to areas of criticalnecessity and builds on existing competencies and skills; leaders leveragetheir own competencies and those of subordinates to achieve goals andobjectives. Thesechanges in the environment include societal, governmental, economic,competitive, supplier, and market changes which can combine in various waysto create multiple conditions likely to affect the organization. According to Mintzberg, Ahlstand, and Lampel (2-3), there are tengeneral approaches to strategic management, of which three will beconsidered in this analysis. "Developing Change Leadership by Leveraging Experience." 2 8. Upper Saddle River, NJ: Prentice Hall, 1998.Wheelen, Thomas J., and Hunger, J.D. Strategic Management andBusiness Policy. A strategic plan for anorganization moves from an external and internal research effort (scanningthese environments) to the development of a corporate mission statement, aset of measurable objectives, a listing of specific strategies that will beused to achieve objectives, a listing of policies for guiding decision-making, and a delineation of necessary programs, budgets and procedureswithout which outcomes are impossible to achieve (Wheelen and Hunger 2 -22). This is a relatively simple and informal approach to strategicplanning and places enormous emphasis on an individualized formationprocess. The design school of strategic planning, said Mintzberg, et al (23-24) is based on the remise that strategy development must be a consciousprocess in which control is firmly exercised by the organization's chiefexecutive. The design school or approach to strategic planning is inherentlylimited in that it does not view the strategy development process as alearning one (Mintzberg, et al, 3 ). A failureto think and act analytically, therefore, can lead to business failure. Strategies included in the plan must be identified at several levels:the corporate level for overall direction, the business level for specificbusiness units or products, and the functional level for specific units.At each level, specificity in terms of objectives and policies is needed(Schultz 1). Unfortunately, as Mintzberg, et al (29) has commented, few chiefexecutives are likely to have a fully comprehensive understanding of thevarious changes that are likely to impact on their organization. The design that results from this process reflects, according toMintzberg, et al (26), the often highly intuitive vision of the chiefexecutive and may consequently be the result of too much thought and notenough actions. Leveraging as described byCrom and Bertels (1) incorporates the competencies of proactive leadershipwith change agency to achieve organizational transformations, which areespecially important in climates of uncertainty also characterized by hyper-competition. Works CitedCrom, Steve, and Bertels, Thomas. Upper Saddle River, NJ: Prentice-Hall, 2 . Available athttp://europe.sixsigma.com/library/content/c ...Mintzberg, Henry, Ahlstrand, Bruce, and Lampel, Joseph. It is based on the assumption that anindividual - a chief executive who should possess extensive knowledge ofthe business and the industry or sector in which it competes - has thecapability of dealing with all the information necessary to develop thestrategy. These are the design school, the formalschool, and the positional school, along with reference to the process ofleveraging as a tool to maximize the allocation of resources and to deployleadership skills throughout the organization. Analysis and Its Role in Business Analysis is the business arena is directly linked to strategydevelopment, which will be the focus of this discussion. Strategy Safari.
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