Instructions: Answer the following questions based on how you understand in the discussions.
Please include the supporting materials like ( photos and examples) and information to support
your answers. Minimum of 250 words per questions.
1. Describe the nature and role of an internal assessment in formulating strategies.
Companies and organizations must identify and prioritize the relative relevance of
important internal strengths and weaknesses that define the company so that right strategy
and resources may be deployed to maximize on the strengths and mitigate risks. A
thorough internal evaluation is necessary to assist a company in formulating,
implementing, and evaluating plans in order to obtain and maintain competitive
advantages. Internal assessment entails acquiring, absorbing, and prioritizing data on the
firm's management, marketing, finance, accounting, production/activities, R&D, and
management information systems operations. Management can typically quickly and
easily execute changes if techniques are based on cultural strengths, such as necessary
regulation of a strong work ethic or highly ethical values. A review of the organizations
internal control systems, procedures, human resources, and culture is the first step in the
internal assessment. The review is followed by the creation of a plan to address any
concerns that are discovered. An effective internal assessment incorporates input from all
levels of the company. Next, should be to obtain feedback from all levels of the
organization on the concerns or challenges related to maximizing the organization's
issues. Lastly, group the gathered issues and prioritize the strategy in implementing
potential solution for the overall improvement of the organization.
, 2. Discuss why organizational culture is so important in formulating strategies.
The mission, objectives, expectations, and values that guide a company's personnel
towards formulating strategy are referred to as organizational culture. It is needed to
impose because the procedures promote employee performance, productivity, and
engagement. Businesses with an organizational culture are more successful than those
without one. Everyone is motivated to produce their best work when the corporate culture
is strong. Increased employee engagement, decreased attrition, strong brand
identification, elevated productivity, transformational power, top performers, effective on
boarding, and a healthy team environment are all reasons why organizational culture is
crucial. The importance of corporate culture and its effects on strategic management must
be considered. Many strategists feel that organizational culture and strategies are linked
since they are both social phenomena. In every part of an organization, the cultural factor
is crucial. It has such an impact that it can determine an organization's success or failure.
Organizational culture has been regarded as one of the major components that strategic
leaders can use to establish dynamic organizations in the leadership idea. The way people
in a company create goals, manage their resources, and carry out their jobs is reflected in
their culture. When leaders succeed in instilling an ethical culture in their organizations,
they will also achieve organizational growth and, as a result, will be more competitive
than their competitors. As a result, in order to be strengthened by the culture, it is critical
to build a strong culture in the company as well as tactics that are appropriate for the
culture.
Please include the supporting materials like ( photos and examples) and information to support
your answers. Minimum of 250 words per questions.
1. Describe the nature and role of an internal assessment in formulating strategies.
Companies and organizations must identify and prioritize the relative relevance of
important internal strengths and weaknesses that define the company so that right strategy
and resources may be deployed to maximize on the strengths and mitigate risks. A
thorough internal evaluation is necessary to assist a company in formulating,
implementing, and evaluating plans in order to obtain and maintain competitive
advantages. Internal assessment entails acquiring, absorbing, and prioritizing data on the
firm's management, marketing, finance, accounting, production/activities, R&D, and
management information systems operations. Management can typically quickly and
easily execute changes if techniques are based on cultural strengths, such as necessary
regulation of a strong work ethic or highly ethical values. A review of the organizations
internal control systems, procedures, human resources, and culture is the first step in the
internal assessment. The review is followed by the creation of a plan to address any
concerns that are discovered. An effective internal assessment incorporates input from all
levels of the company. Next, should be to obtain feedback from all levels of the
organization on the concerns or challenges related to maximizing the organization's
issues. Lastly, group the gathered issues and prioritize the strategy in implementing
potential solution for the overall improvement of the organization.
, 2. Discuss why organizational culture is so important in formulating strategies.
The mission, objectives, expectations, and values that guide a company's personnel
towards formulating strategy are referred to as organizational culture. It is needed to
impose because the procedures promote employee performance, productivity, and
engagement. Businesses with an organizational culture are more successful than those
without one. Everyone is motivated to produce their best work when the corporate culture
is strong. Increased employee engagement, decreased attrition, strong brand
identification, elevated productivity, transformational power, top performers, effective on
boarding, and a healthy team environment are all reasons why organizational culture is
crucial. The importance of corporate culture and its effects on strategic management must
be considered. Many strategists feel that organizational culture and strategies are linked
since they are both social phenomena. In every part of an organization, the cultural factor
is crucial. It has such an impact that it can determine an organization's success or failure.
Organizational culture has been regarded as one of the major components that strategic
leaders can use to establish dynamic organizations in the leadership idea. The way people
in a company create goals, manage their resources, and carry out their jobs is reflected in
their culture. When leaders succeed in instilling an ethical culture in their organizations,
they will also achieve organizational growth and, as a result, will be more competitive
than their competitors. As a result, in order to be strengthened by the culture, it is critical
to build a strong culture in the company as well as tactics that are appropriate for the
culture.
