Strategy and policy explores some fundamental aspects of strategic management with the main focus being on strategic choices. This booklet looks at the main schools of thought of strategy making. It goes on to deal with personality types, learning styles and some related case studies. Some main approaches to budgeting have been discussed such as top down and mandated approaches. The DAMAIC cycle, organizational learning and the learning organization have been discussed. The other areas of focus are the human challenges that organizations face as well as change management. This book is a scholarly one; however, the discussions have got some mature and practical examples to back up the theoretical frames. It is useful for students of business administration at associate and Bachelor degree levels.
Inhaltsverzeichnis (Table of Contents)
- Business policy and strategy
- The three schools of strategy
- Personality and learning styles
- Project proposal 1-case study 1
- Personality types
- Budgeting approaches
- DAMAIC Cycle
- Organizational structure
- Strategic choices
- Journal task-case study 2
- Human resources challenges
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This text aims to explore the development and implementation of business policies and strategies within organizations. It examines the relationship between policy and strategy, the strategic planning process, and the role of different organizational levels in this process. The text utilizes case studies to illustrate these concepts.
- The distinction between business policy and strategy
- The strategic planning process within organizations
- The role of different management levels in strategy development
- Case studies illustrating strategic planning in practice
- The importance of wide consultation in strategic planning
Zusammenfassung der Kapitel (Chapter Summaries)
Business policy and strategy: This chapter establishes the fundamental concepts of business policy and strategy. It differentiates between the broad scope of strategy, encompassing the overall goals and their achievement methods, and the more specific nature of policy, outlining the precise steps for implementing strategic choices. The chapter emphasizes the interconnectedness of policy and strategy, highlighting how strategy provides the overarching framework, while policy details the practical execution. The example of Corning Incorporated is introduced to illustrate how organizations craft their strategies and policies.
The three schools of strategy: [This chapter is missing from the provided text and cannot be summarized.]
Personality and learning styles: [This chapter is missing from the provided text and cannot be summarized.]
Project proposal 1-case study 1: [This chapter is missing from the provided text and cannot be summarized.]
Personality types: [This chapter is missing from the provided text and cannot be summarized.]
Budgeting approaches: [This chapter is missing from the provided text and cannot be summarized.]
DAMAIC Cycle: [This chapter is missing from the provided text and cannot be summarized.]
Organizational structure: [This chapter is missing from the provided text and cannot be summarized.]
Strategic choices: This chapter delves into the process of identifying and evaluating strategic choices. It describes how organizations, often through a rigorous analysis starting with environmental assessment, vet potential strategies against criteria such as competitive advantage, alignment with organizational goals, cultural fit, and feasibility. The chapter mentions the use of tools like the balanced scorecard to assess strategies based on financial performance, customer satisfaction, internal processes, and learning & growth. The text uses Corning's "Growth and Strategy Council" as an example of a committee involved in this process.
Journal task-case study 2: [This chapter is missing from the provided text and cannot be summarized.]
Human resources challenges: [This chapter is missing from the provided text and cannot be summarized.]
Schlüsselwörter (Keywords)
Business policy, business strategy, strategic planning, organizational structure, strategic choices, competitive advantage, policy implementation, case studies, Corning Incorporated, management levels, consultation.
Frequently Asked Questions: A Comprehensive Language Preview
What is the focus of this text?
This text focuses on the development and implementation of business policies and strategies within organizations. It explores the relationship between policy and strategy, the strategic planning process, and the roles of different organizational levels in this process. The text uses case studies, primarily focusing on Corning Incorporated, to illustrate key concepts.
What topics are covered in the Table of Contents?
The Table of Contents includes: Business policy and strategy; The three schools of strategy; Personality and learning styles; Project proposal 1-case study 1; Personality types; Budgeting approaches; DAMAIC Cycle; Organizational structure; Strategic choices; Journal task-case study 2; and Human resources challenges.
What are the key objectives and themes?
The text aims to clarify the distinction between business policy and strategy, detail the strategic planning process, illustrate the role of different management levels in strategy development, and showcase practical examples of strategic planning through case studies. The importance of wide consultation in strategic planning is also emphasized.
Which chapters are summarized in the provided text?
Only the chapters "Business policy and strategy" and "Strategic choices" have summaries provided. The remaining chapters are listed but lack detailed summaries due to missing text.
What is the difference between business policy and business strategy, according to this text?
The text differentiates between strategy (overall goals and methods of achievement) and policy (precise steps for implementing strategic choices). Strategy provides the overarching framework, while policy details the practical execution. They are interconnected, working together to achieve organizational goals.
How is the strategic choice process described?
The strategic choice process involves identifying and evaluating potential strategies. Organizations typically begin with environmental assessment and then vet potential strategies based on criteria such as competitive advantage, alignment with organizational goals, cultural fit, and feasibility. Tools like the balanced scorecard may be used in this assessment.
What examples of organizations or committees are mentioned in the text?
Corning Incorporated is used extensively as a case study to illustrate concepts related to business policy, strategy, and strategic choice processes. Corning's "Growth and Strategy Council" is mentioned as an example of a committee involved in strategic decision-making.
What are the keywords associated with this text?
Keywords include: Business policy, business strategy, strategic planning, organizational structure, strategic choices, competitive advantage, policy implementation, case studies, Corning Incorporated, management levels, and consultation.
- Quote paper
- Mashell Chapeyama (Author), 2014, Strategy and Policy, Munich, GRIN Verlag, https://www.grin.com/document/271903
