comment #1 & #2 seperately about 3 lines each.
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The value of strategic direction is important, it is an organizational roadmap to the direction that the corporation is taking. They know what their objectives are, how they are going to accomplish those objectives. What resources that they are going to need and strategic direction will create a general scheme of how it must work (innovintergy, 2017).
One thing about strategic direction that many corporations are still not doing, is they are not including the internet and technologies in their directional plan. A company who wants to have long term probability needs to include those two items into their plan, lets say you have a marketing department, sales, financial, human resources. All of those departments can excel by the use of the internet and/or technology.
Remember that a successful strategic directional plan is going to be based off of your mission statement, where you desire to go, your values that you have for yourself and your corporation because those three things are what hold the corporation together. A strategic plan can always be modified, changed, but the one thing that always stays the same are two things that I listed your desire and your values (onstrategyhq, 2015).
Mission statements, let’s use Dell for an example, they have a mission statement that was written in 2013, part of that mission statement talks about how they are going to be the most successful IT company in the world. Are they on their way of being that?
I would say that they could very possibly be so. Look at their merger with EMC, Michael Dell is really trying to live up to that mission statement with the business moves that he has made over the past few years.
Strategy links the destination (vision) with current reality. Strategy applies to the whole company, and answers the question “How will we reach our vision, given current market conditions, competitive scenario, regulatory environment, etc.?” Strategy is narrower than vision, but broad enough to guide companywide organization structure, hiring, capabilities that must be developed, and so on. Strategy says, “We’re going west, but we ran into this grand canyon. We can go around to the north or south. Let’s choose south.” (Robbins, 2010)
Organizations usually define a Strategic Direction that can be seen as the organization’s roadmap. With the strategic direction the organization knows which its objectives are, how will they be accomplished, what resources are required and creates a general scheme of how the organization must work.
For instance, as explained by Kauffman 2006, Pinnacle Performance Group is a consulting company that provides performance improvement strategies, assessments, and training programs to mid-sized businesses. Pinnacle has successfully worked with a variety of service businesses on an innovative client retention process. Some of the most positive feedback has come from accounting firms and financial planners who have used these services. Like many consulting companies, Pinnacle’s current revenues are tied to the number of hours the consultants can work, and the majority of its clients are located in a four-state area. The Pinnacle team wants to grow the business. After conducting a SWOT analysis and brainstorming their three-year vision, they developed the following goals and strategy to accomplish them.
Enhance the value of the Pinnacle Performance Group brand.
Develop a revenue stream independent of consulting time that will provide 50 percent of Pinnacle’s sales revenue within three years.
Increase the assets of the business so that in the next five years, Pinnacle could be sold to another company or individual.
Pinnacle Performance Group will offer performance improvement strategies, assessments, training programs, and tools to help mid-sized businesses build sustainable futures, increase productivity, and develop staff and customer loyalty. In addition to continuing its regional consulting services, Pinnacle will:
Develop a software program based on Pinnacle’s successful client retention process.
Create a turnkey training program that can be used to help potential customers achieve the greatest benefits from the client retention software.
Broaden Pinnacle’s distribution activities to market the new client retention software and training program to mid-sized accounting firms and financial planners nationwide.