Then comes the strategy formulation part for which Porters five forces model, copetitive positining framework , resource based view of strategy , core competancy , disruptive strategy and blue ocean strategy.
all these strategies are translated and communicated using balance scorecard and strategy maps. the organization usually cascade high level strategic objectives to specific goals and targets for operating departments and follows the Management by objective (MBO) to set goals for individual employees.
along with this , to improve efficiency and responsiveness of teir operating systums and to promote continuous improvement, organizations employ TQM methods like six sigma, kaizan etc.
now to the tools !!!!
organizations now have sophesticated analytical tools to review the performance of their strategies , including customer relationship management softwares, and activity based costing.
the major problem is these work as an adhoc systum and not in a coherent manner. the common management systum is still financial budget.
the organizations need to put these ad hoc systums together and start taking a systums approach to link strategy with business and thats todays mantra for success. !!!!!!
No comments:
Post a Comment