The vision in this case refers to as a statement of the things that can be achieved by the corporation. The concept of strategic intent is very crucial to the operating of a corporation since it acts as a magnet that pulls the present corporate dynamics and activities to the future. Any given strategic intent should be formulated in a manner that the corporation's remain with a large vision that can energize the workforce at all times. The formulation of new strategic intent options can help LG in capturing new markets while remaining competitive within the uncertain economic environment since it present anew purpose to the corporation.
Third Phase .Success indicators
LG should make use of indicators of success in order to level of achievement of strategic intent. The indicators must however be chosen wisely since they are bound to heavily influence the lives of people at LG. LG Corporation should use indicators such as increasing the level of mobile telephony penetration in Africa.
Fourth Phase: Supporting the strategic objective
The fourth phase is concerned with the refining of strategic objectives. They are a major source of momentum for the corporation that does help in the provision of the missing link in order to achieve the laid down strategic intent. They do offer the corporation new and improved vantage points as well as pathways that are necessary for ensuring the gaining of competitive advantage for maximum profitability. It is important that LG Corporation treat each of the strategic objectives in order to ensure that the goals are reached. Each and every strategic objective is independent but works in synergetic manner with the rest. It is important that there clear communication within the organization structure as well as appropriate resource allocation in preparation for the realization of the strategic objective of conquering new markets in Africa and Middle East.
Fifth Phase. Strong leadership
The fifth phase of strategy-in-action that must be used in order to influence the strategic plan for LG Corporation is leadership. It is important that the establishing and empowering strong leadership takes a lot of time (Schein,1985, 1992). There are two major types of leadership. The background empowerment and the leaders. LG Corporation must ensure that it prepares itself for the changes that may occur as a result of conquering new markets. The corporation must make its workforce ready for the changes that can occur as a result of mergers and acquisitions (M&as) as it conquers new markets (Tetenbaum,1999). It has been demonstrated it several articles that M&a can have serious consequences on organizational culture. LG Corporation must be ready for establishing strong leadership and change management strategies that can counter the negative impacts to the organization culture. Kavanagh & Ashkanasy (2006) successfully investigated the positive influence of leadership as well as change management strategy on the culture of an organization and on employee acceptance of change during a merger
Sixth Phase. The Catalytic actions
The catalytic actions are responsible for altering the business environment. The acquired environment could either transform or inform the strategic processes in an organization through the provision of a rapid feedback mechanism to a certain strategy. The catalytic actions are to be responsible for taking care of the deficiencies in the existing services and programs while eliminating duplication of various efforts in order to save on corporate resources. They also create convergence with the firms' the existing initiatives.
Seventh Phase: Sustenance of momentum
This phase is concerned with attempting to sustain success. This is through the constant taking of stock, innovate, engage other partners and enrich the existing strategy for the sake of continuity, future and profitability.
Why the traditional approach will always reign over the strategy-in-action approach at LG
A close analysis of the strategy-in-action approach reveals that it has several loopholes that make in not a preferred choice for managers of large corporation such as LG. The first reason is that it is organic when most of managers are used to the mechanistic paradigm / Newtonian paradigm that was inherited from Newton. This is to say that most humans do believe in as well rely on computers and machines. This tends to make human beings to appear unreasonable. The second reason as which makes me believe strongly on the traditional approach as opposed to the strategy-in-action approach is that the latter may make managers to have a fear associated with empowerment; This is because strategy-in-action demands that there is an element of power sharing with the rest of the people in the...
The solution was to reduce processing and manufacturing costs (Lynch, 1998) Patents: Tate & Lyle got their products licensed and obtained patents for them; this strategy was highly useful when the demand for one of the company's sweeteners increased and the company was the only one with rights to produce it (Lynch, 1998) Despite the expected beneficial results, the company's international expansion failed to deliver the foreseen growth as its profitability
Corporate Strategy for British Airways Airlines compete for a finite amount of passengers worldwide with a growing number of local, national and international carriers. Some airlines are specifically termed discount because they cut their costs in extreme ways to allow passengers to fly at much reduced rates. It is difficult for a full service international airline to compete and turn a profit in the environment that has grown up in the
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This fits perfectly with the resource-based view of the organization. We will set out to acquire -- via compensation packages and stimulating work assignments -- talent from our competitors, the military and government. Then we will focus our efforts on retention, keeping such workers out of the hands of our competition. This isolation strategy should yield a workforce that our competition simply cannot match. 3. While it is expected that the
Corporate Strategies: Why are they so Important? Domino's Pizza Strategic Leadership Strategic Entrepreneurship Innovation Applied What is your biggest Professional Accomplishment? Organizational Design and Culture The 80s and Deregulation The Election of Barack Obama US rise as a world super power Domino's Pizza Dominoes use the strategy by depending on the population and household. They believe that the population and household income are what needs to help when it comes to figuring out if people are willing to pay the pizza
The problem with this kind of thinking is: once it begins to spread within an organization, it is only a matter of time until the entity will be slow to respond to changes that are take place. Once this happens, it can mean that a company can go from dominating their competitors, to becoming a cautionary tale. A good example of this can be seen with Sony's obvious lead
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