1. The rate of change within organisations and increase application and technology and science.
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Who said a pattern is a stream of directions
Henry Mintzberg
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What are is horizon 1
this focuses on the current core activities and extend and defend these activities
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Horizon 2?
Develop emerging activities - to generate new sources of growth or profit
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Horizon 3
create viable strategic option for the future - higher risk activities which take years to generate growth and opportunities.
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What is the basic point of the three horizons
is to not focus on the short-term issues
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What are stakeholders?
they are those individuals or groups that depend on an organisation to fulfil their own goals and on whom, in turn, the organisation depends.
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Whst are the different levels of strategy
corporate level strategy, business levels strategy and functional
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What does corporate level strategy mean?
it is the overall scope of the organisation and focuses on where the business should compete
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What is the business strategy?
a way a business seeks to compete successfully - which how the business should compete.
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Functional
different parts of the organisation deliver the strategy effectively - how a business should execute its strategy.
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What is the purpose of strategy?
to fine and express the purpose of the organisation to the stakeholders.
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What is a statements of values
the underlying and enduring core principles that guide an organisation strategy and define the way the organisation should operate.
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Statement of objectives?
are specific outcomes that have to be achieved.
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what is a triple bottom line
this economic, social and environmental objectives.
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what does the scope of activities refer to
1. Customer/ clients 2. geographical locations 3. extent of internal activities (vertical integration) involves the supply chain
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who developed the three horizons and what did they say?
Mckinseys - it helps understand strategy by strategy being a long term direction
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What do private sectors focus on
maximising shareholders profit
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Public sectors and charity organisations
strategic direction according to other objectives
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What should strategy stamens include
the fundament goals (mission, visions, values and objectives) and the organisation scope or domain of the organisation activities and the advantages and capabilities it has to deliver these.
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What is the overall scope of domain
refers to the dimensions customers or clients, geographical location and extent of internal stakholders.
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