Week 1 Discussion – Describe your Strategic Planning and Management Experience
1. Please indicate two aspects of strategic planning and management that are of interest to you and describe why they are of interest. Additionally, describe your strategic planning/management experiences and knowledge. Table 1.1 in your eBook is entitled Defining Strategy: The Five Ps. In your professional experience, which of the 5 Ps of strategy has been the most important? PLEASE expound upon your selected most important “P” strategy experience. Your response to this forum must be at least 250 words.
2. Responses to two classmates are also required.
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FIRST CLASSMATES POST:
YesterdayMay 17 at 10pm
Week One Discussion- Raymond L. Bellamy Jr.
Two aspects of strategic management that interest me is internal and competitive strategic planning. The key aspect of internal strategic planning is aligning all members of the management team with the vision and mission of the organization; both in the short and long term. This interest me because in my opinion the vision and the mission are key to managing strategically. When it comes to competitive stretch planning, once you have a good understanding of what your organization’s mission, vision and values are, you may find your company running in a highly competitive environment. This interest me because it is my goal to have a highly competitive environment for my future business. All companies have competitors, but in some industries, the actions and decisions that your competitors make have a greater impact on how you run your organization. Competitive strategy requires you to focus part of your attention outside own organization to what’s happening in the external marketplace and guiding your decision making based on your current and desired position within the market.
In my professional experience, plan is the most important of the Five P’s. Plan is defined as a carefully crafted set of steps that a firm intends to follow in order to be successful. Having a plan is the first phase of trying to be successful. The plan is a very important part of strategic planning and management. Strategic management is the management of an organization’s resources to achieve its goals and objectives. Strategic management involves setting objectives, analyzing the competitive environment, analyzing the internal organization, evaluating strategies, and ensuring that management rolls out the strategies
SECOND CLASSMATES POST:
YesterdayMay 17 at 10:48pm
Week 1 Discussion- Jordan Blue
A strategic plan is a crafted set of steps that the firm intends to follow to be successful. One aspect of strategic planning that I found interesting is that they’re important to individuals too. Being successful requires a person to lay out a path for the future and then follow that path. Don’t be worried if your plan is not fully developed yet. Life has a lot of twists and turns, so maintaining flexibility is wise for individuals planning their career strategies as well as for firms. I find this of interest because it’s good advice to know for the future. An aspect of strategic management I find interesting is that it’s both an art and science. It involves multiple conceptualizations of the notion of strategy drawn from recent and ancient history. The ancient Chinese strategist Sub Tzu made it clear that strategic management part art, but also a part of science too. The Principles of Scientific Movement describes how organizations could become more efficient through finding out that “one best way” to complete a task. I haven’t had any strategic management experiences myself, nor strategic planning experience. The most important “P” in my opinion is between Perspective and Pattern because perspective allows people to view the same things in different ways. For example, Jeff Bezo’s viewed the internet as a sales channel and made amazon which is one of the biggest delivery retailers, in the world. Then you have pattern because of the ability to always respond to competitive challenges by innovating. Sometimes it’s just about how you respond to the twists and turns of life.