×

Jordan Etem's video: Jordan Etem: Zooming in on Singapore an Economic Anomaly Outlier Economic Growth Sustainability

@Jordan Etem: Zooming in on Singapore, an Economic Anomaly! Outlier Economic Growth + Sustainability
Strategy is defined as "the determination of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals."[13] Strategies are established to set direction, focus effort, define or clarify the organization, and provide consistency or guidance in response to the environment.[14] Strategic management involves the related concepts of strategic planning and strategic thinking. Strategic planning is analytical in nature and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking, which synthesizes the data resulting in the strategy. Strategic planning may also refer to control mechanisms used to implement the strategy once it is determined. In other words, strategic planning happens around the strategic thinking or strategy making activity.[15] Strategic management is often described as involving two major processes: formulation and implementation of strategy. While described sequentially below, in practice the two processes are iterative and each provides input for the other.[15] Formulation Formulation of strategy involves analyzing the environment in which the organization operates, then making a series of strategic decisions about how the organization will compete. Formulation ends with a series of goals or objectives and measures for the organization to pursue. Environmental analysis includes the: Remote external environment, including the political, economic, social, technological, legal and environmental landscape (PESTLE); Industry environment, such as the competitive behavior of rival organizations, the bargaining power of buyers/customers and suppliers, threats from new entrants to the industry, and the ability of buyers to substitute products (Porter's 5 forces); and Internal environment, regarding the strengths and weaknesses of the organization's resources (i.e., its people, processes and IT systems).[15] Strategic decisions are based on insight from the environmental assessment and are responses to strategic questions about how the organization will compete, such as: What is the organization's business? Who is the target customer for the organization's products and services? Where are the customers and how do they buy? What is considered "value" to the customer? Which businesses, products and services should be included or excluded from the portfolio of offerings? What is the geographic scope of the business? What differentiates the company from its competitors in the eyes of customers and other stakeholders? Which skills and capabilities should be developed within the firm? What are the important opportunities and risks for the organization? How can the firm grow, through both its base business and new business? How can the firm generate more value for investors?[15][16] The answers to these and many other strategic questions result in the organization's strategy and a series of specific short-term and long-term goals or objectives and related measures.[15]

0

0
Jordan Etem
Subscribers
1.8K
Total Post
814
Total Views
304
Avg. Views
4.5
View Profile
This video was published on 2020-12-24 13:24:41 GMT by @Jordan-Etem on Youtube. Jordan Etem has total 1.8K subscribers on Youtube and has a total of 814 video.This video has received 0 Likes which are lower than the average likes that Jordan Etem gets . @Jordan-Etem receives an average views of 4.5 per video on Youtube.This video has received 0 comments which are lower than the average comments that Jordan Etem gets . Overall the views for this video was lower than the average for the profile.

Other post by @Jordan Etem