In this assignment, you will decide on a company\'s strategic intent, its missio
ID: 465375 • Letter: I
Question
In this assignment, you will 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 have profound impact on the direction and the success of a company. Based on your readings and learning, complete the following tasks:
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:
Based on your readings and learning, complete the following tasks:
We cannot always control political, technological, economic, or cultural issues. Given that, answer the following questions:
Explanation / Answer
Define the various classifications of stakeholders in a company and their role in strategic management decisions. The various classification of stake holders in a company are first the promoters, who have invested their money in the company to make profits. They will definitely have a say in the strategic decision making in the company. The next is the investors who are holding the shares of the company. They also will have to take part in the loss and the profit of the company. They will also have a say in the strategic decision making. The next is the top management people in the company who are driving the operational process in the organization. They work with the capital that is invested and provide profits for all the stake holders. Last but not the least people in the company are the employees who are working in the organization. They are the people who are executing the strategies at the ground level in the organization. Explain the connection between stakeholders and competitive advantage. Its a tricky relationship between the stakeholders and the competitive advantage they produce in the organization. The majority of the stake holders will only have the impression to make profits, namely the promoters and the investors. The ones who are striving for the competitive advantage are the people in the top management who are devising the strategies to gain competitive advantage in the market and the ground level employees are executing them. It is duty of the top management to maintain the link between the stakeholders and have also competitive advantage in the market. Discuss the importance of strategic intent and its impact on organizational success. Only if the company has a strategic intent it will succeed in all the facets of the business. The strategic intent, can motivate employees working in the organization, could provide operational efficiency, could provide error free transaction processing, could have reduced waste in the manufacturing industry. Having strategic intent will definitely boost the sales of the organization. If the sales increases, the company will automatically make profits, and the employees share in that will also increase automatically. Discuss why it is important and how an organization can move from intent to implementation. Just by having the intent alone is not sufficient. The strategic intent has to be put to implementation. Having an intent without implementation is equal to not having an intent at all. Exact operating procedures has to be laid down by the operational team to cascade this intent into implementation. Appropriate training methods needs to be adopted to train the employees for the implementation of the intent. This is the only way that the intent will transform into desired results.