An Organization: Its Mission and Strategic Intent
In this assignment, decide on a company's strategic intent, its mission, and the role of stakeholders in developing an organization's strategy.
You have learned that stakeholders haveprofound impact on the direction and the success of a company. Based on your readings and learning, complete the following tasks:
- Define the various classifications of stakeholders in a company and their role in strategic management decisions.
- Explain the connection between stakeholders and competitive advantage.
You learned that strategic intent is an extension of a company's organizational culture and the cornerstone of the firm. Based on your readings and learning, complete the following tasks:
- Discuss the importance of strategic intent and its impact on organizational success.
- Discuss why it is important and how an organization can move from intent to implementation.
Based on your readings and learning, complete the following tasks:
- Describe the attributes of an effective strategist.
- Explain how you would create and sell a strategic mission to stakeholders.
We cannot always control political, technological, economic, or cultural issues. Given that, answer the following questions:
- How often would you reevaluate your business strategy to maintain a competitive edge in the market place?
- What factors would you use to evaluate the need for change, and what tools would you use to make the changes?
While performing an external environmental analysis, how important is it to use all four components and why?