The paper "Crafting a Strategy" is a great example of a management essay. The success of organisations today depends on their abilities to incorporate accurate strategies about management practices and include an element of innovation. As globalisation and external market conditions promote competition in the markets, the components of strategy and change become imperative for any existing business. Mansfield and Fouries (2004) identify strategy as the component for competitive advantage whose functionality depends on the business model (BM) applied in the business. The imperative in BM is their particular components addressing the structure of a firm and the performance processes directed to meet its mission, vision and values.
Similarly, Demil and Lecocq (2010), recognise BM as the articulation of building blocks to generate value to the consumer and the organisation. The articulation follows two approaches that enhance the understanding of the relevance of BM to both the strategy and change management. A static model considers BM as a way to create value, whereas the transformational approach views the BM as a tool addressing change and focusing on innovation in the organisation. Throughout the course, my attention is drawn to the various topic addressing strategy and change as a component of an organisation.
It is these topics that formulate my reflection on the course, specifically focusing on the weekly journal entries of what is a strategy, strategic analysis, crafting a strategy, theories of organisational change, hard and soft methods of managing change, and leading change. A reflection about these entries enhances my learning and understanding of the functionality of change and strategy within the organisation. Week 6: What is Strategy? The current business environments experience a continuation of inevitable changes necessitating the application of strategies to cope with the ongoing change.
According to Mansfield and Fouries (2004), I understand the strategy to be a form of management behaviour where there is making choices and performing deliberate actions towards a particular goal. Mansfield and Fouries (2004) also identify it as a pattern influencing the decisions by the management defining the firms’ products, objectives and plans. In this case, I realise a shift from a traditional model where the development of strategy centred on top management following a centralised organisation structure.
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