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Running head: XYZ STRATEGIES 1 Overall Strategy for XYZ Company Northcentral University Comprehensive Strategic Knowledge Studies SKS7001-8 Dr. Jaime Klein February 21, 2016
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Running head: XYZ STRATEGIES 2 Introduction Strategizing is the most important action taken by an organization’s management team as a company’s success is a direct result of devising effective strategies its daily operations in each department. XYZ Company has created a brand new overall strategy for the year 2016 which consists of new marketing and production strategies, information technology and telecommunications upgrades, human resource management policies and procedures as well as globalization of the company due to its new expansion in China. Due to the company’s revamp, there will be an increase in advertisement, mass production of society’s most in demand products, quality assurance combined with the latest computer technology. XYZ’s new strategy also includes new, more qualified employees which will work according under new management policies to ensure the best work ethic in a professional environment. Such strategies were created as a foundation for the continued growth of XYZ as its globalization efforts which have already included expansion into China, can continue to expand to Thailand and India. Strategy is important to a company because it allows a company to completely understand the mission of the organization. Creating effective strategies aids in identifying an organization’s strengths and weaknesses within the industry in order to create improvement. In addition, strategies are needed to ensure a strong work ethic among a company’s staff as employees need to be well aware of a company’s purpose which is identified as a mission statement within a strategy. Also, strategies help increase profitability. Lastly, creating strategies helps a company adapt better to change. In an ever-changing environment, the creation of strategies which need to be revitalized from time to time are extremely crucial to the continued growth of a company. XYZ has implemented such strategies to continue its now international success in the year 2016 and going forward.
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Running head: XYZ STRATEGIES 3 Strategic Leadership The strategies in which a company wishes to incorporate into its environment for use largely impacts company performance. A positive performance greatly increases profitability. Effective strategizing on behalf of management gives a competitive advantage when comparing one company’s success to others. The roles and responsibilities of strategic managers are broken down into three main levels within an organization: corporate, business and functional ( Foundations of Business Integration and Strategic Management, n.d). Since XYZ has expanded into China, a global strategy was implemented in addition to its new corporate, business and functional strategies. Strategic planning consists of formulation and implementation of strategies.
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