I need an explanation for this Business question to help me study.
The literature review suggests that operations and inadequate resources hinders the implementation and execution of the strategies in the organization. These challenges are faced by the organization due to shift in individuals’ behavior, any change to socio-economic or political environment, or people’s identities. One of the articles studied the possibility of retaining consistency of values over time, firm’s performance and hurdles that impede the implementations via a questionnaire to 208 senior managers of the organizations. The findings of this study shared that there are many approaches and techniques that managers apply to encourage and foster the consistency across the organization. I would like to highlight that they specifically communicate their strategic plans, encourage participation, redress misalignments between values and practice and seek support across all the levels of the organization. (Mantere,2020). Therefore, it is crucially important for the company managers to themselves have a clear strategic vision regarding their organization as it will enable them not only to utilize adequate resources but also optimize the efficiency of their employees and resources. Are there some examples across organizations that optimized the efficiency and resources due to the clear understanding of the strategic vision (Sanchez Salgado,2020).
Aula, P., & Mantere, S. (2020). Strategic reputation management: Towards a company of good. Routledge.
Sanchez Salgado, R. (2020). Emotion strategies of EU-based human rights and humanitarian Civil society Organizations (CSOs) in times of populism. European Politics and Society, 1-17.
A strategic vision provides a clear overview of the path that a company ought to follow to achieve a specific goal within a given period. A specific vision has been seen to set a company in an effective and efficient motion of performance due to its capability to provide a meaningful framework that helps the laying down of the right foundation that will lead an entity into the future (Ceruti et al. 2019). In the current world, a company that wants to stand out from the rest must have a clear strategic vision. Scholars in the field of management have observed that a strategic vision act as a guideline that enhances the long-term health of that particular company. A company that wants to maintain its competitive advantage must set a plan that makes it stand out from the rest in the industry (Niemand et al., 2020). A clear strategic vision allows a company to set out a path that will compel its fraternity towards the achievement of its long-term goals. Thus, a clear strategic vision is an opportunity for every organization to stand out from the rest of its kind.
Managers are charged with the responsibility of making decisions and give direction in the organization. Through a clear strategic vision, it becomes easy for the managers to communicate the purpose of a company and rally for support from the stakeholders towards the achievement of the entity’s goals and objectives (Ceruti et al. 2019)
Ceruti, M., Williams, A., & Bedford, D. (2019). Translating the Vision INto Strategies. In Translating Knowledge Management Visions into Strategies. Emerald Publishing Limited.
Niemand, T., Rigtering, J. C., Kallmünzer, A., Kraus, S., & Maalaoui, A. (2020). Digitalization in the financial industry: A contingency approach of entrepreneurial orientation and strategic vision on digitalization. European Management Journal.