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Four Common Factors of an Organizational Strategy

According to Grant (2010), the four common factors of a successful strategy are

1) Goals that are simple, consistent, and long term,
2) Profound understanding of the competitive environment,
3) Objective appraisal of resources,
4) Effective implementation.

For this discussion, identify practical application of the concept of strategy in your current work or anticipated future work. Evaluate your own current understanding of the principles of strategy.

Reference

Grant, R., (2010). Contemporary strategy analysis (7th ed.). West Sussex, UK: John Wiley & Sons

Solution Preview

For this discussion, identify practical application of the concept of strategy in your current work or anticipated future work. Evaluate your own current understanding of the principles of strategy.

1) Goals that are simple, consistent, and long term,

The practical application of goals that are simple, consistent, and long term in my company are the setting of goals of cost control, relationships with channel partners, and production in accordance with the market trends.

My company makes and sells molded plastic toys. It has the problem of mismatch between the demand for toys and the actual production of toys leading to large unsold stocks. However, it is good that my company has been able to communicate the goals of cost control, developing a relationship with channel partners, and ...

Solution Summary

This answer provides a discussion on organizational strategy, discussing each of the four goals as it applies to the expert's company.

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