By Garth Saloner, Andrea Shepard, Joel Podolny
This e-book is written for present and destiny normal managers who've or could have total accountability for a company. The authors supply a collection of frameworks, instruments, and ideas to construct this potential. The objective of the ebook is to supply insights into firms and method that may aid normal managers make strategic pondering of their organisations pervasive, potent, and lucrative.
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Extra resources for Strategic Management
The ﬁrst is motivational. Providing a common target can give employees a sense of purpose as well as the knowledge that they and their fellow workers are working towards a common goal. The second is competitive. By clearly staking out a desired competitive position, the ﬁrm may be able to persuade rivals to focus their efforts elsewhere. For example, GE’s commitment to being “number one or two” in the markets it serves is not lost on its competitors! Scope The scope of a business defines the activities in which it will engage.
The key to corporate performance is achieving continuous improvement in every area of our business. To do this we must develop our core competencies, operate with the latest methods and technologies, and invest in education to improve our critical skills. 6. Social Responsibility: Through our commitment to corporate excellence, we will improve the welfare of those who use our products and advance the progress of society. We will respect and help protect the environment. We will also be good citizens of every community and every country in which we operate, thereby contributing to global prosperity and harmony.
28 CHAPTER 2 • BUSINESS STRATEGY Having a vision of the future might (and often does) contribute to formulating a good strategy and motivating the ﬁrm’s employees to achieve it. Indeed, as we saw, it is difﬁcult to articulate a strategy without also indicating the long-term goals at which it is aimed. Developing and communicating an envisioned future for a firm in a rapidly changing and uncertain world is a leadership function of general managers. The strategist’s, and even the firm’s, value added can sometimes depend on the creativity and innovation of the vision.