Wk8: Article Review & Wk8: Strategic Profile Analysis

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Strategy Reflection

Trae Clavo

Doctor of Business, University of Trevecca

Cur Topics/ Business Strategy (BUS-8020-O06.2)

Dr. Rick Mann

March 20, 2022

STRATEGY REFLECTION

Business strategy is defined as actions, plans, and goals that guide how a particular market will be completed in business with a product or service. To know where you are going with your business, you need to look where you are at first and review the past performance of your business. Also, it would help if you determined in which areas the industry has performed better in coming up with a strategy. As a leader, one should ensure that the strategy is detailed, Set the interim achievement and goals, Monitoring and implement your progress, Find the purpose, and set aim on what you want.

What could have been done in terms of personal effort or employees' relation in bringing the result we have in the business. Could the use of technology also lead to the business's best performance? All these questions will fall to the same end by questioning ourselves what measures can a firm or a corporation take to improve its performance. The company operating under everyday strategies is likely to face stiff competition compared to businesses that have developed their technique. The industry looks forward to achieving the best out of the strategy as new ideas and better relationships are created between the employer and employees and all the other stakeholders in the business. Applying some strategies in developing a business is much more effective to the company. 

First, a business needs to inform a manager to maintain a high degree of creating value. As a business manager, I should provide quality leadership skills to my workmates. First, to be a good manager, one should ensure that you should create value for others in terms of personal relationships. As one practices the virtue of creating value for others, the managers and other leaders should ensure that they are in the first line of creating interest for themselves and their fellow workmates. 

As a manager in creating interest in the business, one should maintain a good relationship between the business and the workers if the manager arrives at work and find the employees on duty. As a manager, I should make sure that I start by thanking them for their good work and encouraging them to continue working for the best of the company. As a manager, one should have good moral values like being fearful. 

One should be respectful no matter what position one holds in the business. As a manager in a manufacturing company, I have to respect all the employees despite their gender or their state. For a business to run smoothly, a manager should make sure that there is close interaction between the stakeholders as well the manager should create time for his employees. Spending time together with the other stakeholders in your business is essential and the best way to make one's value to the others. If a manager refuses to have good interaction and time with the employees, there might arise problems in the business as far as relationship is concerned. As we all know, if a good relationship between the stakeholders in the industry is lost, then the performance of that business is most likely to go down. Good communication, time creation, and communication among the workers and the employees minimize business conflicts.

Again, as a manager, when creating value, I should ensure that there is regular and constructive feedback. When a manager has any notification to pass to the employees, the manager should ensure that the information reaches all stakeholders. As a manager in my company, I will make sure that I interact with the employees well so that no one will feel discriminated against when giving directions and expectations. In my organization, as a manager, several stakeholders play an essential role in the performance of the business. Among the stakeholders, some are vital to the company, such as the investor of the business and the employees. The employees' work is to undertake all the daily activities of the business center to the set guidelines by the management. 

On the other hand, the investor in the business plays an essential role in ensuring that the company is running through the provision of capital to finance the operations. As far as the business performance is concerned, both the stakeholders and in business should be treated fairly since they contribute to the company's growth. As a manager, the curtesy of showing good relationships to all stakeholders. Looking at the foundation of the business, you should show respect to the company's founder as a manager. If the business is a family one, the manager should observe family language. As a good manager, one should also enhance good plans for the company. As a manager, in the case of a friend's business, one should ensure they set boundaries between the business and friendship. If the business belongs to the organization of faith, as a manager, one is supposed to observe all the organization's practices to maintain good interaction. If certain products are used by certain religions, as a manager, you should ensure the business does not mistreat the customers for those products. As it is in the founders of the business, the manager should play a big part in recognizing the employers as well. Respect for the employer is a vital component as far as business performance is concerned. As a manager, you should also ensure that your customers are served well and with the proper dignity. When the clients are done well, there will be a high probability of them coming back again. To the coworkers, the business manager should be amiable when interacting. As a business manager, there are several roles that you have to play to ensure the smooth running of the business. In-depth, the article shows how one can relate to the business partners. To perform leadership roles perfectly, one must have the business ethics associated with the strategic implementation. You should ensure that all the stakeholders can adhere to the system as a manager for any strategy implementation. All the reflection of the paper's design reflects how the business can make strategy creation useful and correlated.

When a manager interacts well with the workers, there is an assurance of sound output and maximizing profits. The confidence that a good manager can give to the other members of the environment who don't belong to the business, such as vendors, makes them feel at peace when interacting with the members' business. In my opinion, for the company to perform well, as a manager, I should ensure that every guideline in the industry has adhered. I will be friendly to all the stakeholders but not be many friends. In five years to come, I expect that the strategy employed in the business through my role as a manager will bear fruit.

References

Bieshaar, H., Knight, J., & Van Wassenaer, A. (2001). Deals that create value. The McKinsey Quarterly, (1), 64.https://search.proquest.com/openview/f6d71b1b0c0e845d14741f135e583258/1?pq-origsite=gscholar&cbl=30375

Boudreau, J. W., & Ramstad, P. M. (2005). Talentship and the evolution of human resource management: From professional practices to strategic talent decision science. Human Resource Planning Journal, 28(2), 17-26.https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.459.4836&rep=rep1&type=pdf

Kelly, R., Gooch, D., Patil, B., & Watts, L. (2017, February). Demanding by design: Supporting effortful communication practices in close personal relationships. In Proceedings of the 2017 ACM Conference on Computer Supported Cooperative Work and Social Computing (pp. 70-83).https://dl.acm.org/doi/abs/10.1145/2998181.2998184