Strategic perspective of an organization, Electrical Engineering

Strategic Perspective of An organization

Strategic perspectives cover functions such as revenue, customer satisfaction, people, procedure and technology. Every organization requires a strategy to survive and grow on its own inside business environment in that it searches itself. Understanding of business environment begins along with identification of the internal and external forces in which shape its business.

Some dimensions of the forces in which act on a business are:

(a) Internal dimension that involves employees, assets, technology and capital.

(b) External forces which impact or shape the course of an organization within the business of power could be widely classified into: Government Policies, Regulatory Policies, Competition-Industry Structure, Socio-economic Environment,.

Organizational strategy for its survival and growth performance improvement is decided only after careful detailed analysis of the business environment. Commonly management by has been centered on the mechanistic view of the strategy, structure and systems. Bringing in the customer focus, people issues and process view helps the company within ensuring a balanced approach towards its environment. The core of Balanced Score Card (BSC) approach is bringing customer focus as the key driver within the overall procedure of strategy making. The balanced scorecard is nothing but management through fact and it comes from measurement. Balanced scorecard permits the managers to see their company more clearly. The Baldrige Criteria (1997) booklet reiterates that concept of fact-based management:

"Modern businesses depend upon measurement and analysis of performance. Measurements must derive from the organization strategy and give critical data and information about key processes, results and outputs. Data and information needs for performance measurement and improvement are of several types, involving: customer, product and service performance, market, operations, competitive comparisons, employee-related, supplier, and cost and financial. Analysis entails by using data to determine trends, projections and cause and effect - that might not be evident without analysis. Analysis and Data support a variety of company reasons, such as planning, reviewing company performance, improving operations, and comparing organization performance with competitors' or with 'best practices 'benchmarks."

"A main consideration in performance improvement includes the creation and use of performance measures or indicators. Indicators or Performance measures are measurable features of products, processes, services, and operations the company uses to track and improve performance. The measures or indicators should be chosen to best represent the factors that lead to improved customer, financial performance, and operational. A comprehensive set of measures or indicators tied to customer and/or organization performance requirements represents a clear basis for aligning all activities along with the company's goals. By the analysis of data from the tracking processes, the measures or indicators themselves might be evaluated and changed to better support such targets."

Posted Date: 2/6/2013 2:27:07 AM | Location : United States

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