Organizational Strategy
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An Organizational Strategy is an organizational plan that is a strategy (for the organization), outlining a high-level approach for achieving long-term goals by aligning resources, activities, and policies.
- Context:
- It can (often) span 3 or more years to provide a roadmap for future growth and development.
- It can (often) be a Living Document that is iterated on over time based on changes in the internal and external environment.
- It can (often) help to attain Organizational Objectives (such as organizational mission and organizational vision) by setting priorities and focusing efforts.
- It can (often) be effected by Organizational Policy and supported by supplementary Organizational Plans.
- It can (often) involve stakeholder engagement, ensuring buy-in and support from all relevant parties.
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- It can range from being a For-Profit Organization (Business) Strategy to being a Non-Profit Organization Strategy, adapting to different organizational contexts.
- It can range from being an Enterprise Strategy to being a Sub-Organization Strategy (such as departmental strategy), depending on the scope and level of the organization.
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- It can be supported by an Information Technology Strategy, which aligns technology resources with strategic goals.
- It can be supported by a Strategic Plan (defined by strategic planning) that details actionable steps and timelines.
- It can be managed by Organizational Strategic Management to ensure strategic objectives are met through effective leadership and resource allocation.
- It can include elements like Change Management to help the organization adapt to new strategic directions.
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- Example(s):
- Company-Specific Organizational Strategies, such as:
- AltaVista's Strategy, ~1997s [1], which focused on establishing itself as a leading search engine in the early internet era.
- Google's Corporate Strategy, which emphasizes continuous innovation and expanding its ecosystem through acquisitions.
- IBM's Cloud and AI Strategy, which pivoted the company towards cloud services and AI-driven solutions to maintain industry relevance.
- General Organizational Strategies, such as:
- a Sustainability Strategy focused on minimizing environmental impact and promoting corporate responsibility.
- an Employee Retention Strategy that outlines initiatives to retain top talent and reduce turnover.
- Organizational-Type Organizational Strategies, such as:
- a State Strategy that defines a government's approach to national security and economic growth.
- a Military Strategy that establishes the strategic use of resources and military forces.
- a Sports Team Strategy for building team cohesion and winning championships.
- a Data Strategy, AI Strategy, Cloud Computing Strategy, Digital Transformation Strategy, and IT Strategy.
- a Diversity and Inclusion Strategy aimed at promoting a diverse workforce and inclusive culture.
- a Departmental Strategy, which is limited in scope and does not encompass the entire organization's goals.
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- Company-Specific Organizational Strategies, such as:
- Counter-Example(s):
- Organizational Tactics, which are short-term actions that address immediate challenges rather than long-term strategic goals.
- Personal Strategy, which is focused on individual goals and achievements rather than organizational objectives.
- Project Management Plans, which are operational in nature and deal with specific projects rather than the overall organizational strategy.
- See: VMOST Framework, OKR, Key Performance Indicator, Balanced Scorecard, Strategic Planning, Enterprise Strategy
References
2013
- http://en.wikipedia.org/wiki/Strategic_management
- Strategic management analyzes the major initiatives taken by a company's top management on behalf of owners, involving resources and performance in internal and external environments.[1] It entails specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs. A balanced scorecard is often used to evaluate the overall performance of the business and its progress towards objectives. Recent studies and leading management theorists have advocated that strategy needs to start with stakeholders expectations and use a modified balanced scorecard which includes all stakeholders.
- ↑ Nag, R.; Hambrick, D. C.; Chen, M.-J (2007). "What is strategic management, really? Inductive derivation of a consensus definition of the field" (PDF). Strategic Management Journal 28 (9): 935–955. doi:10.1002/smj.615. http://onlinelibrary.wiley.com/doi/10.1002/smj.615/pdf. Retrieved October 22, 2012.