What It Takes For A Company To Succeed: Strategy Or Luck

1644 words - 7 pages

This issue is aimed at corporate level managers, who oversee the development of strategies for the whole organization; and business level of managers, who’s strategic role is to transmute the general statements of direction and intent that come from the corporate level into tangible strategies for individual businesses (Hill & Jones, 2010); and will be addressing the question of what it takes for a company to succeed, whether it be strategy or luck. Strategy will be defined and explained, and its importance for the success of an organisation discussed. The question of whether luck is essential for success as strategy will also be addressed, along with the resulting connotation of this discussion for the formulation and execution of Freedom Airways’ strategy. Luck is not an ingredient for the success of an organisation, while this issue will show that strategy is most certainly an essential ingredient for success.

What is strategy?

Despite years of research in the field, there is not one agreed upon definition for strategy (). According to Porter (1996), strategy is a blend of goals which the organisation is working towards achieving, and the systems, processes and procedures by which it aims to achieve them by. Porter describes strategy as differentiating one’s product or service in the eyes of the consumer or providing that service through a mix of activities unique from those of competitors. As such, strategy is about creating and maintaining a good competitive position. Strategy can be viewed as building defences against the competitive forces or finding a position
in the industry where the forces are weakest.

Mintzberg’s interrelated view on strategy is that it is a general plan of action an organisation has mapped out or a specific ploy in reaction to a situation or event. In alignment with Porters view, he asserts that strategy is the position an organisation occupies within the industry or is working towards occupying. He further elucidates that strategy is a pattern that can be perceived from the actions and activities of an organisation. This pattern in decisions and actions defines what Mintzberg called "realized" or emergent strategy. Mintzberg also puts it to us that strategy can also be the vision or perspective that one has for that organisation. Thus, a perspective, that necessitates a certain position, which is to be attained by way of a vigilantly fashioned plan, will have the eventual result and strategy reflected in a pattern evident in decisions and actions over time. Kenneth Andrews”s definition of strategy aligns with that of Mintzburg that it is the pattern of decisions that establishes and divulges an institutions goals, produces the principal policies and plans for achieving those goals, and defines the range of business the company is to pursue, the kind of economic and human organization it is or intends to be, and the nature of the economic and non-economic contribution it intends to make to its shareholders,...

Find Another Essay On What It Takes for a Company to Succeed: Strategy or Luck

What it Takes to be a Journalist

1115 words - 5 pages What would the world be like today had generations before us not kept journals of what life was like then? Since this is how the world basically runs, it would be a lot different today. People today would not know what their ancestor’s lives were like. If we didn’t have journalists in the world today, we would not know the “scoop” on things that are happening in the world. Whether it’s on the TV, in a magazine, newspapers, or even social media

What it takes to become a police officer.

1003 words - 4 pages for any person to take, it is not required to become a police officer. One can enlist in the military and become honorably discharged or earn a degree in law-both are viewed equally. The military provides a detailed training on serving and protecting the country. Police officers have an almost identical duty: to serve and protect the people. An excellent and local college is University of Illinois in Bloomington-Normal. They have outstanding

What it Takes to Be a Medical Assistant

1365 words - 5 pages expected. You also need to become certified. After the course and requirements are complete and all the required clinical time performed, you will be permitted to sit for the certification exam. A practical exam may be performed on willing participants, like current patients or staff members, on training mannequins or by using computer simulation program. The test were designed to see how a medical assistant perform to their duties. It allows

Intellectual Vacuum leads to Neurosis of What it Takes to be a Classic

819 words - 3 pages Call it the intellectual breakdown of the 21st century. It seems we live in an age where serious authors are shunned and their books burned. Obviously today's ignorant and stupid men and woman can't read a book that is just above their IQ level or perhaps one filled with words that they can't, won't understand. These people want a book to be filled with simple words for their simple minds, and if one is too much for them, well let's just say the

What it Takes to Have a Good Involvement in your Job

1994 words - 8 pages , leading to high job involvement. It plays a great role in reducing the likelihood of an individual getting built up of sickness (Cheloha & Farr 65). For instance, when a worker is given support by his workmates, he or she is more likely to overcome the somatic stress and symptoms like headaches, stomach aches and muscle tension, and continue to work productively. Another form in which the co-worker support correlates to job involvement is

Marketing Strategy for a New Company

573 words - 2 pages Marketing Strategy for a New Company Introduction I am making a marketing strategy for a non-existing Service. The service is going to be unique and very broad in the region of car services such as garages, repair and modifying services, selling cars and parts, and even entertainment including car shows and racing once or if the company expands. The service will also include a bar or social room. The service that will use the

Marketing communication strategy for a shoe company

2939 words - 12 pages placed them in the most busy streets, freeways, and highways.BRANDINGLogoIt was created upon the idea of Kangaroo leather, which is the strongest leather in the world, it also have other fantastic features like its lightness, flexibility and durability, there for we had to have a kangaroo that refers to that unique animal leather, not only because of its skin, but because of what it represents, Australia, therefore, we had to bring that out. The

What It Takes To Be An Effective Leader

1183 words - 5 pages to achieve that vision. As a founder of a leadership firm named Bob Mason said:” Leadership is simply causing other people to do what the leaders want. Good leadership, whether formal or informal, is helping other people rise to their full potential while accomplishing the mission and goals of the organization. All members of an organization, who are responsible for the work of others, have the potential to be good leaders if properly developed

CPA Exam: What it Takes to Handle Big Money

1062 words - 4 pages Imagine yourself taking a grueling three-day long math test. This is what thousands of young people do every year when they take the CPA exam. Becoming a CPA or Corporate Public Accountant is a must for anyone wanting to go into the accounting field. The CPA exam is undergoing major changes. It is turning towards computerized testing in the future. Many factors influence a person's ability to pass the CPA exam. The CPA exam plays a very

What It Takes to Work in Forensic Psychology

768 words - 4 pages What is a psychologist? What are the duties of a psychologist? When asked about the duties of a teacher or police officer your response will most likely be accurate or at minimum mildly accurate, but when asked the same question about a psychologist’s duties, people tend to have a clouded or sometimes blatantly inaccurate view. (C. Super and D. Super 1). The study of psychology refers to the observation of human and animal behavior; the goal is

It takes a village

752 words - 4 pages ​The ancient African proverb “It takes a village to raise a child”, seems to be one of the most political and controversial issues in our modern world. In reading the article “It takes a village” by Hilary Rodham Clinton, I have fathomed how significant a prosperous society plays in well rounding the lives of our children. And also how intimate this topic occurs to be for others. In this essay I will provide evidence to coincide with my credence

Similar Essays

What It Takes To Become A Leader

2968 words - 12 pages can know the leader is not charismatic. Be a good leader, you not only let people listen to you but also make everyone believe what you say and adore who you are.3) The person with the title, most rank or the highest position is not the leader True leadership is not based on position or rank. It is based on action, performance, ability, and effectiveness. We all relate to working for those people who were placed in leadership roles who did more to

What It Takes To Be A Soldier

1309 words - 5 pages of good, bad, right, and wrong, but their virtues are challenged during live fire exercises or extended field rotations as well as in day to day Garrison environments. Soldiering is one of the oldest professions in the world. While the weapons Soldiers use has changed from spears to swords to guns to bombs, what it takes to be a Soldier has not, Soldiers are high on integrity and personal courage while offering selfless service to their country

What It Takes To Be A Hero

1204 words - 5 pages because they are famous. There is a big difference between a role model and a hero. It was expressed best in the article, What Makes A Hero? The Impact of Integrity on Admiration and Interpersonal Judgment, “Doing the right thing is a basis for acts of heroism and laudable accomplishment but often involves personal sacrifice. Doing the expedient thing is a basis for acts of self-indulgence and opportunism but often at a cost to others. ” (Schlenker

What It Takes To Be A Pediatrician

1036 words - 5 pages test results, procedures, and recommended treatments for patients with their parent or guardian, so it is important to have average communication skills (“Pediatrician” para. 1). Advising other medical staff is another common task pediatricians are required to do (“Pediatrician” para. 1). Being exposed to diseases, infections, and other illnesses may be a possibility; therefore, it is important to have sanitary manner (“Pediatrician” para. 2