Understanding Organizational strategy and its concepts entail a study of the specific way in which an organization is structured. First, organization strategy is a collection of activities that a company plans to take to achieve its long-term goals. Organizational strategy is very critical in an organization due to many reasons. These include; giving the company a sense of direction, allowing the company to become proactive, increasing efficiency in operations as well as increasing the market profitability. It is important to understand that strategic thinking is not only meant for the senior executives in a firm. Research shows that there are various ways in which one can achieve successful strategic thinking. For example, changing one’s mindset.
To learn more ways on how one can achieve strategic thinking in Organizational Strategy and Its concepts
Organizational strategy theories; Development and Implementation
There are various theories of organizational strategy development and Implementation. They include contingency theory, organizational theory, positional view, evolutionary theory, behavioral theory and economic theory among others. It is, however, important to note that theories of firm are different from those of strategy even though they are closely related. Theories of firm try to answer why organizations exists while theories of strategy helps the firm achieve its competitive advantage.
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Understanding the relationship between strategy, innovation and change in an organization
While trying to achieve successful strategic thinking, it is important to understand how organizational strategy relates to innovation and change. The three concepts go hand in hand. As such, innovation by a competitor will cause services, products and the current business models of the firm to become outdated. The innovation will, therefore, trigger change in the firm and the change will, in turn, act as a driver towards the achievement of a business strategy. Finally, a successful organizational strategy enable a firm to implement new innovations within the business environment.
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