BUSI 650_DB1Operational_Strategy ESSAY 2020.pdf

BUSI650 – DB1

Key Topic – Strategy

School of Business, Liberty University

Author Note

I have no known conflict of interest to disclose.

Correspondence concerning this article should be addressed to Joseph M. Couture, et al.

Email:

BUSI-650

Key Concept Explanation

Discussion Board 1

Strategy

Strategy is one of the single-most important topics within organization, more specifically,

operations management. An organization is defined as, “when people pool their resources and

work together toward a common goal they form an organization” (Waters & Waters, 2006).

Organizations are much like organisms, and their goal is what defines them. Without a strategy

for a firm to follow, their chances of implementing effective or efficient systems for resources

will not happen. It is important to have a clearly articulated strategy, but even more important is

the ability to execute the strategy. Value is what consumers are looking for to differentiate a

particular product from another. In consumers’ minds value is better quality at a lower price.

Operations creates value for the consumer, and without value, consumers will choose another

product or service to spend their money.

The topic of strategy is fascinating because it covers an essential element a firm must

follow in order to be successful in the market. In terms of success, there are common

characteristics of strategies that are conducive to success, “Goals that are consistent and long-

term, profound understanding of the competitive environment, objective appraisal of resources,

and effective implementation” (Each firm’s strategy is unique. Operation strategy can be viewed

as a set of strategic plans, and due to its intriguing nature, I view strategy much like a chess

game. Within this game, firms are constantly competing for consumers, employees, and

resources. The history of the word strategy is quite fascinating and received mainstream

acceptance during the time of the nineteenth century. But the term itself was first used in Greek

during the 5th century in Athens, Greece. This term being used then is what we would have

considered tactics.

Comparison:

In our text, strategy is defined as, “strategy includes determining elements such as the

vision and mission of the organization, what customers value (often referred to as the value

proposition), and the core capabilities of the organization” (Meredith & Shafer, 2020).

This definition differs from Waters & Waters, in that, strategy is considered much more than just

entities within an organization. According to Navarro, strategy is further defined as, “the overall

strategy of a particular business unit of a large corporation” (Navarro, 2005). However, business

strategy can also mean, “to the plans of an established firm for serving existing markets or new

markets as well as to the plans of an entrepreneur contemplating entry into a market” (Navarro,

2005). According to Freedman, strategy was not defined until the 6th century, “Strategy is the

means by which a commander may defend his own lands and defeat his own enemies”

(Freedman, 2015). According to Grant, “Strategy is the means by which individuals or

organizations achieve their objectives” (Grant, 2016). “Strategy is the narrow sense involves

planning the use of resources and the deployment of capabilities to achieve objectives and

prevail in competition” (Burgelman, 2020). The concept of strategy has been around for a long

while and has consistently evolved over time.

Article Summary:

The selected article I chose was Strategy: A History. In this publication, it explains the

various history that the term strategy has had throughout time. From its inception in Greece

during the 6th century, to modern times as it relates to warfare. As Freedman explains in the

preface, “Everyone needs a strategy. Leaders of armies, major corporations, and political parties

have long been expected to have strategies, but now no serious organization could imagine being

without one” (Freedman, 2016). He goes on to say, “Having a strategy suggests being able to

look up from the short term and the trivial to view the long term and the essential” (Freedman,

2016). It is imperative that a firm successfully implements strategic planning within their

organization. There is a choice to offer strategy whenever the road to a destination is not straight.

Throughout an organization’s time there will be many times when a decision must be made.

Resources of people, equipment, and services will be needed and it will call for effective

application of strategic planning for contingencies or constraints. Even school teachers have

educational strategies, policeman have suspect apprehension strategies, and cooks have strategies

to mitigate against using the incorrect ingredients, called a recipe.

Biblical Integration:

The concept of God’s law as it relates to strategy is simple. Obviously we are all human

and it is easier said than done. But, God has told us that the punishment of not following His

Commandments is death. “The best strategic advice in the Bible, is to always trust God and obey

His laws” (Freedman, 2015). If everyone in the business world could follow God’s

Commandments and trust in the Lord, there would be perfection in everything that business does,

and there would be no greed, stealing, ethics issues, sexual or racial prejudice, etc.

There are numerous verses in the Bible which spell out God’s demand that we follow His

commandments and to place our lives in His. As examples, “If ye love me, keep my

commandments” (John 14:15, KJV), “And it shall come to pass, if thou shalt hearken diligently

unto the voice of the LORD thy God, to observe [and] to do all his commandments which I

command thee this day, that the LORD thy God will set thee on high above all nations of the

earth” (Deuteronomy 28:1-68), “And he answering said, Thou shalt love the Lord thy God with

all thy heart, and with all thy soul, and with all thy strength, and with all thy mind; and thy

neighbor as thyself.” (Luke 10:27).

Application:

Modern business strategy is utilized in some form in every business across the globe. As

mentioned earlier, without strategy there can be no success. Strategy involves planning and

planning must occur for a firm to be profitable. As stated above, consumers are looking for value

in products or services for their money. In order for a business to be profitable, there must be

some type of strategic planning to implement. Strategy is truly the foundation of the business,

and without strategy, a firm cannot anticipate positive or negative effects a chosen course will

have. A firm uses strategic planning to help accomplish this.

Annotated Bibliography:

Burgelman, R. A. (2020). Strategy Is Destiny: How Strategy-Making Shapes a Company's

Future. United Kingdom: Free Press.

https://www.amazon.com/Strategy-Destiny-Strategy-Making-Shapes-Companys/dp/0684855542

Using thoroughly tested vital conceptual tools, Burgelman first documents the key role played by

mid level managers in transforming Intel from a prospective memory company into a

microprocessor company during the late 1970s and early to mid 1980s, which led to the

heartbreaking decision to abandon the very business on which the company had been founded in

1968. He then makes the readers eyewitnesses to the complex set of complementary strategic

thrusts orchestrated by Andy Grove to make Intel capitalize on the extraordinary opportunities

associated with the phenomenal growth of the PC industry during the late 1980s and the 1990s.

Grant, R. (2016). Contemporary Strategy Analysis: Text and Cases Edition. Wiley.

https://www.wiley.com/en-us/Contemporary+Strategy+Analysis%3A+Text+and+Cases+Edition

%2C+9th+Edition-p-9781119120841

In this new edition of Contemporary Strategy Analysis: Text and Cases Edition several topics

have increased emphasis including: platform-based competition and 'ecosystems' of related

industries; the role of strategy making processes/practices; mergers, acquisitions and alliances;

and additional emphasis on strategy implementation. Cases are completely updated to include

companies which are prominent in the business press and well known to the students (eg

Amazon, Tesla, Tough Mudder, Tata Group, Samsung). Contemporary Strategy Analysis:Text

and Cases, 9th Edition combines the text with an updated a collection of 20 rare case studies. It

is suitable for both MBA and advanced undergraduate students.

Freedman, L. (2015). Strategy: A History. Oxford University Press.

https://www.google.com/books/edition/Strategy/BeQRDAAAQBAJ?hl=en&gbpv=1

The selected article I chose was Strategy: A History. In this publication, it explains the various

history that the term strategy has had throughout time. From its inception in Greece during the 6th

century, to modern times as it relates to warfare. As Freedman explains in the preface, “Everyone

needs a strategy. Leaders of armies, major corporations, and political parties have long been

expected to have strategies, but now no serious organization could imagine being without one”

(Freedman, 2016). He goes on to say, “Having a strategy suggests being able to look up from the

short term and the trivial to view the long term and the essential” (Freedman, 2016).

Meredith, J. R., & Shafer, S. M. (2020). Operations and supply chain management for

MBAs (7th ed.). Hoboken, NJ: John Wiley & Sons, Inc.

https://www.amazon.com/Operations-Supply-Chain-Management-MBAs-

ebook/dp/B07ZN88MKM

The seventh edition of Operations and Supply Chain Management for MBAs is the definitive

introduction to the fundamental concepts of supply chain and operations management. Designed

specifically to meet the needs of MBA students, this market-leading book offers clear

presentation of topics such process planning and design, capacity and location planning, schedule

and inventory management, and enterprise resource planning. A strategic, conceptual approach

helps readers comprehend the contemporary issues they will soon be facing in industry. ach

chapter integrates material directly into the text?rather than sidebars, highlights, and other

pedagogical devices?to achieve a smooth, easy-to-read narrative flow. Carefully selected

questions prompt discussions that complement the mature, more experienced nature of MBA

students, while case studies and supplementary materials illustrate key concepts and practices.

Waters, D., Waters, C. D. J. (2006). Operations Strategy. Thomson Learning.

https://www.amazon.com/Operations-Strategy-Donald-Waters/dp/1844801950

This book takes a broad view, covering the key areas of operations strategy in all types of

organisation. Its main area of coverage is devoted to operations strategy for those businesses

competing in the services sector. It also includes relevant coverage of the increased nature of

operations in a global context. Waters approach takes the view that operations strategy gives the

long-term direction for all aspects of operations management. In particular, it forms the link

between broader organisational strategies and the more detailed operations; it builds the context

in which other operations are performed. By taking this approach the book encourages discussion

and exploration of different views. Recognising that this is a developing field, substantial

additional case studies are available on the accompanying website. Ensuring that the latest

developments are available

References: