Professional Documents
Culture Documents
Chandler defined strategy as: "The determination of the basic long term
goals and objectives of an enterprise and the adoption of the courses of action
and the allocation of resources necessary for carrying out this goals".
Ansoff explained strategy as: "The common thread among the organization's
activities and product markets, that defines the essential nature of
business that the organization was or planned to be in the future"
Glueck define the strategy as: "A unified, comprehensive, and integrated
plan designed to assume that the basic objectives of the enterprise are achieved.
And to survive over the long term, a company must have two strategic
capabilities:
2. Strategy formulation
3. Strategy implementation
4. Strategy evaluation
"To give ordinary folk the chance to buy the same thing as rich people."
Walt Disney
"To make people happy."
Boeing (1950)
"Become the dominant player in commercial aircraft and to bring the world into
the jet age"
Infosys' Vision:
"To be a globally respected corporation that provides best-of-breed business
solutions, leveraging technology, delivered by best-in-class people."
Infosys' Mission Statement :
"To achieve our objectives in an environment of fairness, honesty, and courtesy
towards our clients, employees, vendors and society at large."
Important first step in crafting mission statement is definition of the company’s business.
What is being satisfied? (What customer needs and how customer’s needs are being satisfied, by
Derek Abell stresses the need for a customer oriented approach rather than
markets served. This approach undermines the true mission because product is only the physical
manifestation of applying a particular skill to satisfy a particular need for a particular customer
group.
-changes in environment.
Boeing (In 2016) People working together as a global enterprise for aerospace leadership.
3M
"To solve unsolved problems innovatively"
Policies are guides to action. “They are guides to action or channels for thinking”.
(Steiner, Miner and Gray)
Rules( Delivery of pay cheques, loitering around plant, security, guard duty,
use of company car, smoking etc)
Corporate strategy:
Having the largest domain identifying overall goals of corporation.
It concerns itself with the whole corporation as a unit and consequently,
Answers the purpose or the mission of the organization.
It describes a company's overall direction in terms of its general attitude
towards growth and management of its various business and product lines.
Corporate strategy deals with three key issues or roles facing the corporation as a whole.
Business strategy:
It usually occurs at the business unit or product level it emphasizes improvement
-of the competitive position of a corporation's products or services in the specific
-industry or marketing segment served by that business unit.
Its role is essentially positioning strategies to secure for themselves an identity
-and position in the market.
The aim here is to increase the business value, and to increase the brand awareness
-and value perceived by the customers.
Functional strategy:
It is the approach taken by a functional area to achieve corporate and business unit objectives and
strategies by maximizing resource productivity.
It is concerned with developing nurturing a distinctive competence to provide a company or business
unit with a competitive advantage