Three Important Parts In Defining The Strategic Direction Of A Company

1064 words - 5 pages

Three important parts in defining the strategic direction of a company.

The mission, vision and values of a company are important to determine the strategic direction for the company’s future business operations. The mission is a guide and reminder to the shareholders and stakeholders of the company’s goals and objectives. The vision is the optimistic views and goals of what the company plans to become in the future. The values of the company are the attitudes, beliefs, perceptions, and views that will help the company to accomplish their mission and vision. Culture, social responsibility, and ethics are very important factors in influencing the company’s values. Customer needs are an ...view middle of the document...

The purpose of the vision statement.

The vision will inform the customers where the management believes the company will be in the future. This is a tall order and work needs to be done to ever reach this goal. The best way for a company to reach such a lofty goal is to set a bunch of short-term goals that will lead up to the vision. By setting smaller goals the company will not become overwhelmed by the pressure of the obtaining the main goal. The vision will represent the strategic direction the company wants to operate in the future. Achieving short-term goals and objectives will make the plan possible. The vision gives the employees a target to reach for and to understand the direction the company wants to operate the business. The vision should motivate employees and customers to remain loyal because the benefits of accomplishing such a task will be rewarding. For the company to realize the vision they will have to be successful for many years and that will create longevity in employment, returns on investment, and financial success. The shareholders and stakeholders will both benefit from the success.
A company’s values.

The values of a company should include honesty, integrity, loyalty, ethical behavior, and goal oriented motivation. The values need to be practiced from the top management to the lowest employee. Managers must act and behave in accordance of the values to show each employee the importance of the values. Employees who do not believe in the values and refuse to demonstrate their understanding of them need to be dismissed. Everyone who works at the company will have to make decisions and implement strategies using the values as the foundation of his or her ideas. A code of ethics is an important part of creating values for a company. Having a code of ethics visible for employees to read and learn will eliminate any excuses for not following the company’s values. Reputation to a firm can take a long time and become very expensive to fix if there is negative news regarding the company. Practicing the values in every decision or implemented strategy will help the company to achieve...

Other Papers Like Three Important Parts In Defining The Strategic Direction Of A Company

Management of Spare Parts Inventory in a Manufacturing Organization

4401 words - 18 pages key activities involved in completing the analysis: prioritization, stratification, and optimization. The results of the analysis provide valuable information that can be used to determine how each part should be monitored and managed from the perspectives of procurement, warehousing, and strategic inventory management. Prioritization The first part of the analysis consists of rank ordering all MRO storeroom parts from 1 to n based on a

What Is the Nfl Media Group's General Strategic Direction

1007 words - 5 pages Fundamentals of Marketing Management 1.- What is the NFL Media Group's general strategic direction? With a fan base of 181 million in the US, the National Football League (NFL) has a clear branding strategy based on a message that is intense, meaningful and unifying. This message is based on its core values: excellence, community, teamwork, innovation and tradition. The NFL receives over $4 billion annually from major media television

Major Parts of a Business Plan (Copied from the Internet)

833 words - 4 pages MAJOR PARTS IN A BUSINESS PLAN What is a Business Plan? The Business Plan is perhaps the most important document an entrepreneur can create. The business plan helps guide the direction of the start-up company's first several years, as well as giving potential investors an idea of the company structure, goals and future plans. What are the parts of a Business Plan? The following information is taken from the "Business Plan Development

The Three Most Important Virtues

1393 words - 6 pages three most important virtues to me, honest, empathy and thinking in other’s position, form a circle that each element has impact to each other and can make each other have a better effect to human’s life. Honesty is a fundamental virtue of a good person. Empathy can not only make people to speak frankly but also speak sincerely so that the words won’t hurt anybody’s feeling. Thinking in other’s position can make empathy to create more positive energy when people are facing the disagreement in life. Being honest and insist one’s own point is the basic to think for other.

Martin Luther King: Most Important Parts of His Speech

549 words - 3 pages Have you wondered what the most important parts of Martin Luther King Jr.’s “I have a dream” speech is? In my opinion, I would say that the notable parts are the well-known “I have a dream” section, the “Let freedom ring” segment, and the “cash a check” paragraphs. Everyone will have a different view, of course. I thought that those are the most interesting parts. Probably the most famous part of Martin Luther King’s speech is the “I have a

The Fall of a Company

1051 words - 5 pages handset was more expensive than a cheap cell phone at that time by twenty fold. The reason the prices were set so high was not solely due to the expensive parts, but was also a price skimming technique to gain the cost of starting the company back. Some might have suggested that the company take out loans in order to lower the prices, however “corporate clients did not want to subscribe until their financing was in order and lenders did not want

SEX IN THE BIG CITY: Defining A Complex Round Char

876 words - 4 pages now lives. An East Indian woman is taught to be a very submissive and passive individual. On the contrary, Americans feel that the idea of freedom plays an extremely important part in the culture and traditions of the country. Coming from a strict background to such a liberated society Maya is simply overwhelmed by her new freedom. "She's done things a woman from Ballygunge Park Road doesn't do, even in fantasies" (104). These conflicting beliefs

Three Levels of Strategic Decision Making

1197 words - 5 pages Question 1. Discuss the three levels of strategic decision making with reference to an organisation of your choice. Solution Strategic decision-making is the process of developing and putting into action choices that will influence the long-term welfare of the organization. Strategic decisions are the decisions that are concerned with whole environment in which the firm operates, the entire resources and the people who form the company

In The Company Of Hounds

610 words - 3 pages 1. In what ways does Sue Ryan perform each of the three basic managerial roles - interpersonal, informational, and decision making? How about Candace Stathis? How must both Ryan and Stathis make use of the four critical managerial skills - technical, interpersonal, conceptual, and diagnostic? In the case of each manager, which of these skills seems most in evidence in the video? Which of these skills would you consider most important for a

The Different Parts of Our Legal System

1066 words - 5 pages than the crime committed. On the other hand when the law is too tolerant on a criminal it weakens the law’s ability and erodes its very principle. Understanding the principle and function of punishment in conjunction with society’s goal is imperative to a society’s general order. The intentions for criminal laws are to safeguard innocent people and to serve the public good. There are two strategic goals for criminal laws and the first being

Analyzing Hr of Siemens Pakistan Engineering Company Limited as a Strategic Partner

2001 words - 9 pages tends to move with the performance of the overall economy, so this the human resource of the company can help to survive in the market, therefore the company should realize that role of human capital is very important now than ever. We are interested to search the HR of the company as a strategic partner defined as the business partner that helps in achieving the strategic goals of the company, but for HR to become the strategic partner there are

Related Essays

What Three Pieces Of Legislation Have Been Most Important In Defining The Rights Of Management And Unions? Why And What Role Did They Play?

1134 words - 5 pages discuss Labor. In this paper I will discuss what three pieces of legislation have been the most important in defining the rights of management and unions. Additionally I will discuss the roles that the legislation played. The National Labor Relations Act of 1935, also known as the Wagner Act is often referred to as the basic bill of rights for unions. This piece of legislation is important because it guarantees workers the right to organize and

Parts Of A Cell Essay

1053 words - 5 pages Image 16 (College of Liberal Arts and Sciences) Image 16 (College of Liberal Arts and Sciences) Centrioles are found only in animal cells and are usually located near the nucleus. They are made up mostly of protein and are used when a cell wants to divide. The End Cells are very complex and the parts listed in this book are only the basic parts. Different cells with different functions can and will have more or less parts. I hope this

The Three Strategic Approaches Essay

643 words - 3 pages Week 2 Liesl Kern CSU-Global Campus Operations Management – OPS400 Paul Gioia 01/22/13 The Three Strategic Approaches The three strategic approaches to competitive advantage are differentiation, cost leadership, and response. All of these make a company competitive. Each company is different and chooses how they stay competitive. The three approaches come across all differently but each is an excellent outlet to stay competitive

Parts Of The Brain Essay

732 words - 3 pages interconnected however, three major components an be identified; the cerebrum, the cerebellum, and the brain stem. Parts of the brain: Cerebrum: the cerebrum, also known as the forebrain, is the largest portion of the brain, making up 75% of the brain by volume and 85% by weight, and it contains tools responsible for most of the brains function. It is divided into four sections: the temporal lobe, the occipital lobe, parietal lobe, and the