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Strategy

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Strategy

Generally, a strategy refers to a well-orchestrated plan adopted by governments, military, organizations, or individuals to achieve specific desired goals (Witcher & Chau, 2010). Corporate strategies refer to long-term projects that have been put down by organizations to aid in achieving the mission and vision of the organization. While the goals may not change, the strategies can always be altered. To effectively carry out strategies, especially in business, companies set out durations upon which specific goals will have been achieved. If the goals are not met, then a revision of the strategies is considered. Some companies opt for short term strategies usually three to five years to allow for conviction before adopting say, a twenty-year plan depending on the outcome of the short term plans. To effectively plan business strategies, the individual has to understand what the end goals are to be achieved, where the company is currently concerning the set goals and the duration set to attain the goals (Locke & Latham, 2013).

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A company wishing to increase its production by having workers reaching their place of work on time could come up with a strategy to provide the means to transport to ensure the workers are at their places of work on time. To reduce the risks associated with the place of work, say fire or pollution a strategy to provide the appropriate protective gear and hence reduce the number of sick leaves. In so doing, the production will be increased since the workers are at work when they are needed to be. On the other hand, a company aiming at going global could strategize on how to incorporate diversity by encouraging all qualified personnel from different countries to apply for positions at the company. Besides, a company to raise its safety awareness could strategize on carrying out safety drills for a stipulated duration of time.

References

 

Locke, E. A., & Latham, G. P. (2013). New Developments in Goal Setting and Task Performance. Routledge.

Witcher, B. J., & Chau, V. S. (2010). Strategic Management: Principles and Practice. Cengage Learning EMEA.

 

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