Strategic Development for Corp. ABC: Enabling Vision & Actions for Value & Opportunities - Essay Sample

Introduction

Strategic development is developed to find and produce short and long-term opportunities for the business. Corporate ABC has provided value for the stakeholders, society, and the customers who are an essential qualification for the chances created by the strategic development. ABC company has successfully developed the vision, direction in which the company wants to advance, the necessary actions that need to be taken.

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Stages of a Corporation's Life Cycle

A corporate or business life stages is the advancement of a corporation and its phases over some time. There are five most commonly used stages - namely, launch, growth, shake-out, maturity, and decline (Welford, 2016).

How Can a Corporation's Life Cycle Be Extended?

An extension strategy is an activity implemented to increase the market share for a specified product or a service to keep it in the maturity phase. These strategies include rebranding, price discounting, and searching for new markets (Durand et al., 2017). Corporate ABC is in in the launching stage.

Strategy Implementation

According to Durand et al. (2017), these are the activities in an organization or place of work designed to achieve the actions associated with the provision of the strategic plan. Also, strategy implementation refers to the execution and strategies of the program to achieve long-term set goals of the organization.

Questions Must Strategy Makers Consider to Begin the Implementation Process

• Who are the persons that will perform the strategic plan?
• What must be done to support the operations of the company the intended new direction?
• How is every person going to do what is needed?

It Is Important to Assess the Strategy-Culture Compatibility When Implementing a New Strategy. Do You Think That Culture Follows Strategy, Or Does Strategy Follow Culture?

Culture Follows Strategy

ABC company's culture can either make or break strategy, because after outlining how to get where the company needs to be. There will be a need for the employees to implement it, and if there is a negative corporate culture, it will have to be fixed before proceeding. If there is a poor working relationship between the company owners and the employees, there will need to solve the problem. The main reasons for this would be inconsistent, poor communication, and only focusing on making a profit. Also, poor leadership skills can result in negative employees' attitude and behavior (Durand, 2017).

What is Six Sigma?

Six sigma a conventional of management tools and techniques that are intended to improve business process by significantly reducing the chances that a defect or error will occur. Also, Six Sigma can be defined as a discipline that applies a data-driven approach, statistical-based, and continuous enhancement methodology for removing defects. In a good, process, or service before it is delivered to the final consumer or customer (Welford, 2016).

Why Would a Company Want to Implement Six Sigma?

A company can implement the six sigma due to the following reasons.

Mapping

Six sigma helps the company to map its process. Mapping can be said to be flowcharting to allow documentation of the company process, such as employees roles and decision points in overall work presentations required for accomplishing the exact needs of the customers.

Elimination of Waste and Discrepancy

Six sigma can be crucial in eliminating waste and variation in the business process. Waste can be termed as anything that is not aiding in the production of the service and the product the customer requires.

Reduce Defects

Six sigma helps in reducing defects. Applying these techniques, the employees are in a position to discover the problem areas and repeated issues that affect the overall quality expectation of a service or a product from a customer's point of view.

Provide Room for Continuous Improvement

Employees with knowledge of six sigma have the necessary skills and tools to quickly identify problems or identify areas that affect the production process.

References

Welford, R. (2016). Corporate environmental management 1: systems and strategies. Routledge.

Durand,R., Grant, R. M., & Madsen, T. L. (2017). The enlarging domain of strategic management research and the quest for integration. Strategic Management Journal, 38(1), 4-16.