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How strategy helps companies

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Threaded Discussion:
In this module (and throughout the course) we will be discussing the strategic management cycle. And although organizations tend to consider organizational strategy yearly, organizational strategic plans tend to be multi-year endeavors often looking 5 or more years into the future. Given the typical 5 year outlook, discuss why companies go through the strategic management cycle yearly and why this is a good (or bad) idea. Give examples of companies that have incorporated strategies that took years to realize and discuss how annually revisiting a company's strategic direction can influence an organization's success in a competitive environment for longer range plans.

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Solution Summary

The expert provides a one year versus a five year long term plans for a company's success. Examples of companies that have incorporated strategies that took years to realize and discusses how annual revisiting a company's strategic direction can influence an organization's success in a competitive environment for longer range plans.

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We can start by looking at Apple computer. This was not a popular brand and definitely not what it is today. By updating strategic plans yearly, these types of companies are able to compete in the marketplace. In fact, a tech company cannot survive in the technology sector if they will not update their strategic plans due to the speed in which technology updates and revolutionizes. All the companies that are attached to tech companies either horizontally or vertically ...

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