1.2.1. Determine Primary Business, Values, Business Model, Purposes of The Organization (Mission Statement)
- Definition:
Determine strategic position for your organization: what is your main business, what is your business models. what is your mission statement.
- Example:
"Mc Donald's business is real-estate business, NOT selling fast food. They always choose the best real estate in the area and build their restaurant chain there
Business Model of Ryanair: To offer cheap air transportation to fare-conscious customers. Ryanair targets customers who might otherwise choose alternative modes of transportation or not travel at all. The company focuses mostly on inter-European, short-haul flights
Mission statement of Prezi: Prezi: To reinvent how people share knowledge, tell stories, and inspire their audiences to act."
- Synonym: business model, mission statement
- Cloud service: none
1.2.2. Define Organizational Goals
- Definition:
* Organizational goals are strategic objectives that a company's management establishes to outline expected outcomes and guide employees' efforts.
* Effective organizational goals have 5 traits: SMART (specific, measurable, achievable, realistic, time-bound)
* 2 kinds of organizational goals:
- Official goals detail a company's aims as described in its mission statement or in public statements, such as the corporate charter and annual report
- Operative goals are the actual, concrete steps a business intends to take to achieve its purpose
- Example:
A company's official goal is to increase customer satisfaction by offering multichannel customer support, such as social media, mobile, live chat and email, its operative goal will be to craft a strategy for establishing, supporting and integrating customer support channels. The organizational goal -- supported by completing successful operative goals -- will be met when the company effectively captures all business process requests in a unified, central tool to provide effective multichannel support.
- Synonym: short-term goal
- Cloud service:
DATALYTYX_Assessmint_Shared_Services_360_Assessment
1.2.3. Define Strategic Options to Achieve Goals
- Definition:
Strategic options is sets of strategic decions designed to drive the organization's long-term objectives
- Example:
Options about suppliers, partnership, alignment of business functions with strategy, etc.
- Synonym:n/a
- Cloud service: none
1.2.4. Create Organizational Design
The aim of this process is to create business unit that will bring the business achieve the goals
- Example:
+ Create organizational structures, roles in organization, etc.
+ Identify core competencies for each business function
+ Monitor performance against organizatioanl goals
- Synonym:
strategic business units
- Cloud service: none
1.2.5. Communicate Strategy Internally And Externally
- Definition:
Communicate company's strategy to internal and external shareholders like owners, employees, customers, suppliers, etc.
- Example:
CEO of a company often communicates company's strategy for the next year in the annual shareholder meeting
- Synonym:
Communication
- Cloud service:
none