The Module 5 discussion board touched on two aspects that were very interesting and that relate to work I did in my prior work as a non-profit program manager. First, the discussion board asked us to incorporate the perspective of not-for-profit organizations specifically. Given that much of our academic work focuses on multi-national for-profit corporations, I appreciated the chance to explore how strategic planning tools apply to the non-profit industry.
The second concept emphasized in the Module 5 discussion board was consideration of stakeholders. It was helpful to see how classmates undertook stakeholder analysis — identifying various stakeholders and the power each may wield over a company, the level of interest each may have in the company, and develop recommendations for different types of non-profits. Understanding stakeholders and how to work with them is perhaps one of the most critical aspects of strategic planning.
How might you use this information in the future? What predictions do you have regarding the future of business? Are there any trends that you can identify?
As I mentioned in my introduction, I am pursuing an accounting degree to help provide back-end support to smaller and/ or local organizations, either for-profit or not-for-profit. As I start to undertake some bookkeeping and other types of accounting work, I am finding that occasionally I have a chance to be a sounding board for their leaders and staff. It has been so helpful to have developed a better understanding of strategic management, and I hope to revisit the concepts frequently.
One trend I have noticed is that these small organizations may have attained success, in part, because of their strategically-minded leaders. However the small organizations lack a formal strategic management process. While I appreciate that implementing too much formality may hinder entrepreneurial spirit, it is still useful to have a few strategic “tools in the toolbox” that may help keep them on a continued path of success, if or when the conversation arises.
Wheelen, T.L., Hunger, J.D., Hoffman, A.N., & Bamford, C.E. (2018). Concepts in strategic management & business policy: Globalization, innovation and sustainability (15th ed.). NY, NY: Pearson.
7 Jan 2020 19:19
7 Jan 2020 19:18
Re-read the Learning Outcomes of your chosen module.
1. Assess the linkage between strategy formulation and implementation.
2. Evaluate an organizational strategy and design an organizational structure and management system that may support the effectiveness of a strategy.
3. Appraise the importance of organizational culture to strategy implementation in a real-world example.
Review the lecture material presented in the module.
*Chapters 8 & 10 in Concepts in Strategic Management
Dayan, R., Heisig, Peter, & Matos, Florinda. (2017). Knowledge management as a factor for the formulation and implementation of organization strategy. Journal of Knowledge Management, 21(2), 308-329.
Greer, C. R., Lusch, R. F., & Hitt, M. A. (2017). A service perspective for human capital resources: A critical base for strategy implementation. Academy of Management Perspectives, 31(2), 137-158.
DO NOT DO THIS PART
THIS IS A REVIEW OF THAT WEEK
*******Peruse the discussion board for that week.
*Select an international organization. In your initial post, identify the organization that you selected and address the following questions:
What challenges can you identify within this organization regarding their ability to implement their selected strategies? Describe these strategies.
Where does the organization experience challenges? Examples of challenges include issues with operations, a disconnect between the company culture and strategy or leadership, the inability of leaders to communicate and lead a strategy implementation, global expansion, or ethical issues. The intention here is for you to express your own thoughts through the application of the knowledge you have gain throughout the course. Note that the challenges you identify may or may not be supported by the research you have done on the organization. Often, based on observation, we note that a company seems to have a problem implementing strategy. For example, Sears and J.C. Penney are both companies that appear(ed) to be having problems either in selecting and/or implementing the right strategy (now, Sears no longer exists).
How does the organization engage stakeholders? How do stakeholders contribute to the organization’s mission, or don’t they?
What are your recommendations for this organization? Do you think the organization should adopt a different structure? What type of leadership characteristics and culture would fit well with this organization? (And so forth…)
************* . ^ THAT IS THE REVIEW FOR THAT WEEK< DO NOT DO THE ABOVE********
**************BELOW IS THE ASSIGNMENT*******
in your original post, answer the following questions:
1. Why did you choose this module to review and discuss?
2. What were two concepts that you found particularly relevant or insightful from the module and that you may continue to use?
3.What were two concepts that you already knew or wished that you could have studied further?
4. How might you use this information in the future? What predictions do you have regarding the future of business?
5. Are there any trends that you can identify?
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