Corporate Digest Magazine- October/2017 Corporate-Digest-magazine-october | Page 19

Strategy 2. Clarity in Direc on of Ac vi es Strategies focus on direc on of ac vi es by specifying what ac vi es are to be undertaken for achieving organiza onal objec ves. They make the organiza onal objec ves more clear and specific. For example, a business organiza on may define its objec ve as profit earning or a non-business organiza on may define its objec ve as social objec ve. But these defini ons are too broad and even vague for pu ng them into opera on. They are be er spelled by strategies, which focus on opera onal objec ves and make them more prac cal. For example, strategies will provide how profit objec ve can be sharply defined in terms of how much profits is to be earned and what resources Of how much profit is to be earned and what resources will be required for that. When objec ves are spelled out in these terms, they provide clear direc on to per-sons in the organiza on responsible for implemen ng various courses of ac on. Most people perform be er if they know clearly what they are expected to do and where their organiza on is going. 3. Increase Organiza onal Effec veness Strategies ensure organiza onal effec veness in several ways. The concept of effec veness is that the organiza on is able to achieve its objec ves within the given resources. Thus, for effec veness, it is not only necessary that resources are put to the best of their efficiency but also that they are put in a way which ensures their maximum contribu on to organiza onal objec ves. In fact, taking strategic management, which states the objec ve of the organiza on in the context of given resources, can do this. Therefore, each resource of the organiza on has a specific use at a par cular me. Thus, strategies ensure that resources are put in ac on in a way in which these have been specified. If this is done, organiza on will achieve effec veness. 4. Personnel Sa sfac on Strategies contribute towards organiza on effec veness by providing sa sfac on to the personnel of the organiza on. In organiza on where formal strategic management process is followed, people are more sa sfied by definite prescrip on of their roles thereby reducing role conflict and role ambiguity. If the decisions are systema zed in the organiza on, everyone knows how to proceed, how to contribute towards organiza onal objec ves, where the informa on may be available, who can make decisions, and so on. Such clarity will bring effec veness at the individual level and consequently at organiza onal level. Strategies provide all these things in the organiza on through which everything is made crystal clear. To conclude,“Without a strategy the organiza on is like a ship without a rudder, going around in circles. It is like a tramp; it has no place to go.” They ascribe most business failures to lack of strategy, or the wrong strategy, or lack of implementa on of a reasonably good strategy. They conclude from their study that without appropriate strategy effec vely implemented, failure is a ma er of me. www.Venture-Care.com/Magazine October 2017 19