Is it right to suggest that Strategies are not worth the Paper they Essay

Is it right to suggest that Strategies are not worth the Paper they are Written On - Essay Example 7 – 8). Strategy innovation that challenges the existing models is the only way for new companies to succeed in the face of competition and enormous resource disadvantages. Without investigating how best to create money, it is unlikely that wealth creation will occur and growth may not necessarily the best way to go for all firms. Although managers may feel that delivering quality at the right price will deliver the desired results, it will be important for them to know how best to do this (Hamel, 1998, Pp. 7 – 8). Even if the competitive environment is changing rapidly, it still makes sense to try to understand the trends to decide how best to take advantage of these. Thus, although a need may exist to reinvent the practice of strategy, it will be wrong to suggest that strategy itself is worthless because deciding about how to achieve an end cannot be useless. Mintzberg (1987, Pp. 25 – 30) suggests that organisations need to set their direction and focus if they are to succeed and even though this idea emerged more than twenty years ago, it is still right today. It is likely that if the grand strategy for an organisation is correct, the performance will be superior compared to the case when no strategy is prepared and performance depends on chance. Although a focus on strategy may blind an organisation to the need for properly managing its operations, without a strategy it will be difficult to have properly focused operations. Strategy presents a focus, which results in a coordination of organisational activity in an attempt to achieve the optimal. Strategy encourages an organisation to appropriately acquire, organise and utilise resources. In addition, strategy... It should be obvious from the discussion presented in the essay that despite the fact that rapid change now presents greater demands on strategy formulation, it will be wrong to suggest that strategies are not worth the paper. However, because information is now readily available, collaboration is far more rapid and the business environment is global with global markets and customers shaping demand, strategy needs leadership, an emphasis on superior processes for formulation, an attention to detail and rigor, participation, inputs from trends and patterns, inputs from organisational learning and experience, optimal implementation and well-considered execution. Without an approach that emphasises the craft in strategy formulation, flawed strategy can present disasters for organisations. Now, strategy is a continuous and never-ending process rather than a one-off plan.