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Article
Publication date: 1 April 1987

Elinor Morris

Today, one does not have time to rely on the course of events to create a strategic vision. A growing, competitive environment requires foresight—a need to create the future.

Abstract

Today, one does not have time to rely on the course of events to create a strategic vision. A growing, competitive environment requires foresight—a need to create the future.

Details

Journal of Business Strategy, vol. 8 no. 2
Type: Research Article
ISSN: 0275-6668

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Book part
Publication date: 19 November 2016

Frederick Betz

Abstract

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Strategic Thinking
Type: Book
ISBN: 978-1-78560-466-9

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Article
Publication date: 20 July 2015

Kari Neilimo, Hannu Kuusela, Elina Närvänen and Hannu Saarijärvi

The vision should ignite and facilitate strategic change as well as help a company to transform and reinvent itself in the face of competition. Too often executives use…

Abstract

Purpose

The vision should ignite and facilitate strategic change as well as help a company to transform and reinvent itself in the face of competition. Too often executives use vision as a mere slogan without real relevance. The purpose of this study is to show how the vision guides strategic change.

Design/methodology/approach

A case study from a successful multi-format, multi-industry service business is used to illustrate the role of vision in strategic change management.

Findings

The article illustrates how the vision was used in practice in guiding the strategic transformation process of the case organization. The study presents four focal tasks of the vision and concludes with five practical guidelines for executives.

Originality/value

The article highlights the role of vision as an important tool for managing strategic change.

Details

Strategy & Leadership, vol. 43 no. 4
Type: Research Article
ISSN: 1087-8572

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Article
Publication date: 20 March 2009

Mohammad Rahman

This paper aims to highlight and explain the puzzling phenomenon that a plethora of vision statements do not measure up to the standards prescribed in the strategic

Abstract

Purpose

This paper aims to highlight and explain the puzzling phenomenon that a plethora of vision statements do not measure up to the standards prescribed in the strategic management literature.

Design/methodology/approach

The article offers a fresh perspective based on careful reflection on properties of the phenomenon.

Findings

When it is acknowledged that business landscapes change or that sharing strategies can be risky, managers may need to deliberately depart from normative guidelines found in standard MBA textbooks. The common assumption that managers are simply unable to craft quality vision statements may not be realistic, particularly as these same managers are often steering very successful organizations.

Research limitations/implications

As the viewpoint article offers a new perspective, it can stimulate further investigation by surveying managers and using rigorous techniques.

Originality/value

The article can help newly minted MBAs realize why senior executives may be crafting vague vision statements, contradicting the textbook guidelines. The article can also encourage senior executives to reflect on current industry practices of stating visions, particularly on determinants of the properties of vision statements.

Details

Strategic Direction, vol. 25 no. 4
Type: Research Article
ISSN: 0258-0543

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Article
Publication date: 18 April 2017

Ali Abu-Rahma and Bushra Jaleel

The purpose of this paper is to explore the relationship between time orientation and strategic practices in the context of an Arab country. Toward this end, the paper…

Abstract

Purpose

The purpose of this paper is to explore the relationship between time orientation and strategic practices in the context of an Arab country. Toward this end, the paper studies a conditional process model that assesses the role of visioning ability and perceived uncertainty in explaining how future-oriented managers may be better at strategic management.

Design/methodology/approach

The study adopts a quantitative research design with closed-ended questionnaires as the main mode of data collection, and applies bootstrapping technique to test the significance and validity of the conditional process model.

Findings

The results confirm that time orientation influences strategic practices in an organization through its impact on a manager’s visioning ability, when uncertainty in the environment is perceived as low-moderate. The study also notes that local managers in the United Arab Emirates (UAE) tend to be relatively future oriented and demonstrate a greater preference toward strategic work in comparison to operational tasks.

Research limitations/implications

The scope of this study has been limited to UAE nationals, and generalization of these results should be done with caution. Future research is recommended on a wider geographical area, such that cross-national results can be used to better understand the concept of time orientation in Arab countries.

Originality/value

Findings of this paper contribute to the literature by studying the concept of time orientation in a unique cultural domain. Moreover, by providing a theoretically relevant model for understanding the relationship between time orientation and strategic practices, the study highlights the significance of environmental uncertainty, and the importance of developing the visioning abilities of those involved in strategic roles in an organization.

Details

International Journal of Emerging Markets, vol. 12 no. 2
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 17 August 2012

Michael A. Germano and Shirley M. Stretch‐Stephenson

Strategic plans are developed and executed by businesses in order to chart a course toward an idealized future destination for the organization. Normally, this means…

Abstract

Purpose

Strategic plans are developed and executed by businesses in order to chart a course toward an idealized future destination for the organization. Normally, this means aspiring to become an industry leader or niche holder by increasing market share, developing customer loyalty, penetrating new markets or some other defined goal that is ultimately premised on growth in revenue attainment. Because of the competitive nature of business and the environmental changes that have occurred and continue to occur at an increasing rate, marketing has become a key functional area within most enterprises' strategic plans. Today's strategies require the development of plans that embrace customer engagement in an effort to increase revenue. As such, marketing is fast becoming a critical functional area surrounding the development and execution of a strategic plan. Examining marketing's role in strategic planning, as well as the critical thought work conducted by marketing and sales personnel as they influence organizational cultures that are friendly to implementing competitive strategy and planning activities, is useful for libraries if they wish to engage in beneficial and viable strategic planning of their own. Unfortunately, libraries as non‐profit service organizations are rarely in a position to create revenue based strategies. Instead, libraries must focus on strategies that encourage value creation. Additionally, in the absence of a dedicated, full‐fledged marketing group within a library, it becomes vital that such non‐profit service organizations develop replacements or similar organizational analogs for integrating marketing functions while at the same time developing a marketing‐like, patron‐centered orientation and culture required for successful market‐based strategic planning. This paper aims to investigate this issue.

Design/methodology/approach

Informed by the two authors' combined extensive experience in both the theoretical and practical applications of sales and marketing, the paper discusses the current trends in market planning, especially those aimed at utilizing the marketing function as a critical element of strategic planning and execution.

Findings

The paper finds that libraries that engage in strategic planning can incrementally improve their chances of success during the execution of that plan if they make an effort to include the marketing process throughout the development and execution of such plans. Additionally, since marketing and its implied customer orientations provide a strong conduit to an organization's understanding of customer needs and perceptions of value, library strategic planning that incorporates traditional marketing elements and tactics like environmental scans, customer value creation and promotion of unique benefits will provide the best foundation for competitive library strategic plans.

Practical implications

The authors rely on their practical and theoretical experience in marketing and planning to convey a more purposeful sense of library strategic planning that includes library marketing as a required element in order to foster strategic planning success.

Originality/value

The paper shares specific ideas regarding the purpose, role and benefits of strategic library marketing that are connected to improving the likelihood of long term strategic planning success, especially when such plans are aimed at increasing perceptions of library value.

Details

The Bottom Line, vol. 25 no. 2
Type: Research Article
ISSN: 0888-045X

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Article
Publication date: 1 May 1998

Michael H. McGivern and Steven J. Tvorik

This exploratory study examined the qualitative and quantitative financial measures that best describe the patterns, predictors, or degree of success for vision driven…

Abstract

This exploratory study examined the qualitative and quantitative financial measures that best describe the patterns, predictors, or degree of success for vision driven organizations. A framework was developed within the methodology to qualitatively partition and link the financial contributions of the organizational and strategic factors within visionary organizations. The qualitative measures were identified utilizing content analysis within the literature stream. Five financial indicators were chosen to represent the respective quantitative measures from 57 visionary organizations over a 16‐year period. The inferential test results from two multiple discriminant analyses and verifying MANOVA tests show the accuracy for predicting the level of a visionary organization at 84 percent. The results of this research suggest that group membership, either visionary or average visionary, can be predicted reliably from a set of financial indicators. This research further suggests that organizations can enhance their opportunities for sustained competitive advantage and supernormal profits by focusing on the alignment of ten core elements of vision driven strategies identified from within the research stream.

Details

Management Decision, vol. 36 no. 4
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 29 February 2008

Sydney Finkelstein, Charles Harvey and Thomas Lawton

This paper aims to introduce a strategic visioning method called vision by design and to use the example of Harley‐Davidson's corporate regeneration to illustrate how the

Abstract

Purpose

This paper aims to introduce a strategic visioning method called vision by design and to use the example of Harley‐Davidson's corporate regeneration to illustrate how the method works in practice. This approach conceives visioning as a practical tool of management whose power stems from the facilitation of strategic conversations among stakeholders and the reflexive engagement of business leaders in past‐present‐future thinking.

Design/methodology/approach

The paper presents a four‐dimensional visioning model that facilitates exploration of both the internal and external contexts of the business. The advantage of the approach lies in breaking down vision into its component parts, lending simplicity and structure to the visioning process. The study employs a case study of the turnaround of Harley‐Davidson to illustrate this method.

Findings

The paper finds that, in undertaking corporate regeneration, Harley‐Davidson's senior management recognized the need for a vision that was comprehensive, inclusive and dynamic, but also realistic and grounded in the history and present circumstances of the business. The visioning process at the company was transformational because it ignited a strategic conversation that went beyond the boardroom to include employees, customers, partners and financiers.

Originality/value

The vision by design method adds value by simplifying the visioning process and focusing on a series of transitions, whereby the emerging vision is rooted squarely in business realities. As the picture of a regenerated enterprise is built up, both internal and external contexts are scrutinized, ensuring that the future vision is consistent and complete, attractive externally and deliverable internally.

Details

Journal of Business Strategy, vol. 29 no. 2
Type: Research Article
ISSN: 0275-6668

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Book part
Publication date: 10 December 2018

Krassimir Todorov and Yusaf H. Akbar

Etihad Rail Company is planning to implement a mega infrastructure project in the United Arab Emirates (UAE). They have included freight rail system as part of the 2030…

Abstract

Case synopsis

Etihad Rail Company is planning to implement a mega infrastructure project in the United Arab Emirates (UAE). They have included freight rail system as part of the 2030 Abu Dhabi economic vision and the UAE national Charter 2021. The plan is to link the UAE’s main cities via the Gulf Cooperation Council (GCC) border. This ambitious project presents a formidable task for the Etihad Rail Company and the region as there is no previous railway history of this kind. The project requires coordination of rail standards from East of Ghwefatet and the Northern Emirates cities and will ultimately be combined with the Western Saudi Arabia borders. The transportation system in the region will be improved greatly with the introduction of a cargo and passenger railway system in addition to the current road system and other means of transportation. The Etihad railway network is the first infrastructure project in the UAE and it will bring economic, strategic, social and environmental changes to the country. This case aims to present an overview of the strategic management dimensions of the Etihad Rail and the processes involved. This case will analyze whether Etihad’s top management team should make a decision to focus only on freight rail or to include passenger transportation as well. Many questions will be addressed in this paper such as the following: What steps should Etihad take in order to start passenger rail? Will economical, strategic and environmental aspects affect it? And if so, how? The case will focus on the analysis of the different aspects of Etihad Rail by using strategic management tools as guidance for implementation and determining its success factors.

Details

Strategic Management in Emerging Markets
Type: Book
ISBN: 978-1-78754-166-5

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Article
Publication date: 14 September 2015

Tamás Gaspar

The purpose of this paper is to offer a new perspective for strategic foresight on the basis of nurture theory. Strategia Sapiens refers to the fact that strategic work…

Abstract

Purpose

The purpose of this paper is to offer a new perspective for strategic foresight on the basis of nurture theory. Strategia Sapiens refers to the fact that strategic work needs to be foresight oriented, and foresight should be directly value driven.

Design/methodology/approach

The following areas of strategic foresight are offered for discussion: the content of a vision, its emergence process and the characteristics of strategic foresight in time and in space.

Findings

The interdisciplinary approach of this research creates a synthesis of and bases its findings on the empirical and theoretical findings of different scientific fields. The primary finding is that nurture theory offers new perspectives to refine and renew strategic foresight. One perspective is the existence of a value- and culture-driven way of life, and the other is the simultaneous self-realisation of individuals. The paper creates the following models on the basis of nurture theory: the system relations of strategic foresight, a complex model of development, the field and system of strategic foresight activities, the logistic life-cycle model and the field of force of social spaces.

Originality/value

This discussion and approach are highly useful for regional and national strategic practitioners, and they contribute to the discussion of the concept and measurement of development. The nurture theory approach strengthens the incorporation of cultural responsibility, as well as an intergenerational view of strategic foresight, which are both fundamental for a renewal of this field.

Details

Foresight, vol. 17 no. 5
Type: Research Article
ISSN: 1463-6689

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