Continuous assessing of the environment is crucial in some environments for

Continuous assessing of the environment is crucial in

This preview shows page 52 - 53 out of 90 pages.

organization and consists of 3 levels: internal, task, and general. Continuous assessing of the environment is crucial in some environments for survival. Additionally, we had a chance to interact with tools for assessment such as SWAT, TOWS, and PESTLE. Changes happen at different levels in the environment. Change/turbulence levels are divided into 5 levels, from repetitive (no change) environment to surprised environment. The organization must optimize its resources into capabilities, which then must be optimized into competences, resulting in competitive advantage. We noted too that bank’s capabilities and strategies must be aligned with the turbulence level of its environment to be at its optimum performance, as the strategic success paradigm states. Each level of environment has it characteristics, key success factors, management styles, HR incentives. I learned how market segmentation pales around strategic segmentations. Market segmentation is limited to the products/services and the banking frameworks within which the bank operates. On the other hand, strategic segmentation takes into consideration the environment as whole for opportunities for growth, profitability and risk. Ultimately, the bank is just a part of the environment, a function of the environment. Strategic segmentation segments the environment into strategic business areas that can be analyzed by strategic readiness diagnoses. Strategic diagnoses examines the future turbulence level of environment of the SBA, the current capabilities and strategies level, and how to align them (closing the gaps) with the future turbulence level I learned the importance of implementation step in strategic management. Poor implementation is responsible for the strategic failures of most organizations. Changing the organization ways is a challenge. Where is change, there will be a resistance. People will resist change for reason like risk, loss, and comfort zone. To make change possible, manages much communicate the danger of not changing, the benefit of changing, and minimize fear, risk and loss. Moreover, managers should communicate those factors from each employee perspective. Environment is changing and organizations should change to survive. Huda Al Shamsi: Taking this course enlightened me to the various methods of strategic management. Everyone always over uses the word “strategy” but can never really define what it means? This course helped me break it down, such as, how to simplify and define what a real vision statement should consist of, to understanding our environment turbulence and how it effects a firm in either a positive or negative way. Learning the various methods of how to understand our environment and its huge impact on a firm, really puts things into perspective when delivery a companies goals and objectives.
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  • Spring '12
  • Steve
  • Management, ........., Abu Dhabi Commercial Bank

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