Crafting and Executing Strategy



Crafting and Executing Strategy

Introduction

Big corporations transform and revitalize their organizations by using strategic plans as a tool for their success. The purpose of strategic planning is to accelerate the performance of the organization and help them in doing a better job. It helps to focus energy they require to perform the task related to the achievement of goal and to ensure that each individual is of the organization is contributing their best towards the same goals.

Strategic planning is considered as a collective effort of each of the individual in the organization whether on the managerial level, or an employee to take decisions and actions that are important for the organization and tells where organizations stand and where it wants to reach in the particular time period.

In this report, a strategic plan of a pharmaceutical company has been discussed with the mission, vision and objectives of the organization.

Discussion

Importance of Strategic Planning

Organization's strategic planning is often byzantine and challenging. Strong and thoughtful planning can be helpful in the achievement of the goals. Organization's executives gather information that is assumed as reliable for the long term planning for the development of a plan that helps in accomplishing a goal throughout a specific period of time (Pirtea. M, Nicolescu. C and Boto. C, 2009).

Strategic plans emphasize an organization to be most responsive to the changing environment. The conditions in the business world does not remain same as the factors like economic uncertainty, political uncertainty, changes in laws, social changes and technological changes affect the organization's planning. The plans and goals that we set must be realistic and achievable during the time frame allotted. The environment is highly un stable; therefore, it is advisable to be highly responsive to the change management.

Disenchantment is observed in many cases when the organization's efforts regarding planning cannot keep the pace. They tend to reflect a false impression about the purpose and value of strategic planning and what it takes for a plan and the process to succeed. However, this can be improved by emphasizing on the realistic and clear goals set by the management (Moody D.W.).

A strategic plan is considered as successful if all the environmental realities and the change impacts are kept in mind while drawing the outline of the goal. Also, its success depends on the mission and goals are well communicated to the organization's stake ...