- 07 Apr, 2021
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500 db8 redo
EXAMPLE
Why did you choose this module to review and discuss?
I reviewed Module 5, Business Strategies and Corporate Strategies to develop a better understanding of strategy formulation.
What were two concepts that you found particularly relevant or insightful from the module and that you may continue to use?
One reason I reviewed this module is that I am working with two small organizations in my community – one for-profit, one not-for-profit. Both organizations have informal strategic management. Interestingly they are both weighing directional strategies – stability versus growth. Neither leader would necessarily articulate “directional strategy” as a decision point. The individual leaders, both of whom are inherently strategic in their thinking, are simply reacting to their perceptions of organizational needs and opportunities. Reviewing the content in Module 5, especially Chapter 7 “Strategy Formulation” in our textbook, helped provide a frame of reference for me in listening to the real-world aspirations of these two leaders and their organizations (Wheelen, Hunger, Hoffman, & Bamford 2018, pp. 192-214).
One of the organizations wants to grow, but is at a point where a temporary pause and proceed-with caution approach might make more sense while it builds capacity. The second organization is stable, and could follow a no-change strategy. Wheelen et al. (2018) caution that external changes might shift the environment and force a change, whether a stable organization desires change or not. So, the second organization may want to continue to evaluate a few different growth strategies so it is primed to respond to new threats or to take advantage of new opportunities.