which of the following is not accurate as concerns who is involved in crafting a companys strategy This is a topic that many people are looking for. cfiva.org is a channel providing useful information about learning, life, digital marketing and online courses …. it will help you have an overview and solid multi-faceted knowledge . Today, cfiva.org would like to introduce to you Crafting Strategy. Following along are instructions in the video below:
Crafting strategy means choosing among the various strategic alternatives and proactively searching for opportunities to to do new. Things or to do existing things in new and better ways the of stitching. A strategy together entails addressing a series of hows how to attract and please customers how to compete against rivals how to position the company in the marketplace and capitalize on attractive opportunities to grow the business.
How to best respond to challenging economic and market conditions. How to manage each functional piece of the business and how to achieve the companys performance targets in most organizations. Crafting strategy is a collaborative team effort that includes managers in various positions and at various organizational levels.
Crafting strategy is rarely something only high level. Executives do in choosing among opportunities and addressing the house of strategy strategists must embrace the risks of uncertainty. And the discomfort that naturally accompanies such risks.
Bold strategies involve making difficult choices and placing bets on the future. Good strategic planning is not about eliminating risks. But increasing the odds of success in sorting through the possibilities of what the company should and should not do managers may conclude that some opportunities are unrealistic or not sufficiently attractive to pursue.
However innovative strategy making that results in powerful customer value proposition or pushes the company into new markets will likely require the development of new resources and capabilities and force the company outside of its comfort zone. A companys overall strategy is a collective of strategic initiatives and actions devised by managers up and down the whole organizational hierarchy. Ideally the pieces of a companys strategy up and down.
The strategic hierarchy should be a cohesive and mutually reinforcing. Fitting together like a jigsaw puzzle. Crafting a full fledged strategy involves four distinct types of strategic actions and initiatives each undertaken at different levels of the organization and partially or wholly crafted by managers at different organizational levels.
Corporate strategy is orchestrated by the ceo.
And other senior level. Executives and establishes an overall game plan for managing a set of businesses in a diversified company. Corporate strategy.
Addresses. The questions of how to capture cross business synergies. What businesses to hold or divest.
And what new markets to enter and how to best enter those markets by acquisition by creation of a strategic alliance or through internal development business level strategy is primarily concerned with building competitive advantage in a single business unit. Business strategy is also the responsibility of the ceo and other senior level executives. But key business unit heads may also be influential especially in strategic decisions.
Affecting the businesses. They lead in single business companies the corporate and business levels of strategy making hierarchies merge into a single level business strategy. Because the strategy of the entire enterprise.
It involves only one distinct business. So a single business company has three levels of strategy business. Strategy.
Functional area strategies and operating strategies. Functional area strategies concern. The actions related to a particular function or process.
Within a business.
A companys product development strategy for example represents the managerial gameplan for creating new products that are in tune. With what the buyers are looking for lead responsibility for functional level strategies within a business is normally delegated. The heads of the respective functions with the general manager of the business.
Having final approval over functional strategies for the overall business strategy to have maximum impact. A companys marketing strategy. Production.
Strategy. Finance. Strategy customer service strategy.
Product. Development. Strategy and human resource strategy.
Should be compatible and mutually reinforcing. Rather than each serving its own narrow purpose finally operating strategies concern the relatively narrow strategic initiatives and approaches for managing key operating units and specific operating activities such as materials. Purchasing or internet.
Sales operating strategies are limited in scope. But add further detail to functional area strategies and the overall business strategy lead responsibility for operating strategies is usually delegated to frontline managers subject to review and approval by higher ranking managers. The larger and more diverse the operations of an enterprise.
The more points of strategic initiative. It will have and the more managers at different organizational levels will have a relevant strategy making role music you .
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