Crafting and Executing Strategy Research Paper Example | Topics and Well Written Essays - 1250 words

Crafting and Executing Strategy - Research Paper ExampleIn other words, strategic homework is a tool that defines the routes that businesses will take in the effort to get from the current position to where owners unavoidableness it to go. In fact, it is argued that strategic cookery is a procedure that fulfils the mission and vision of a company (Andersen, 2004). In order to be effective, strategic plan considers the internal and external environment surrounding the business. In this regard, it is received to argue that as a company grows and intends to achieve its strategic goals, the need for strategic planning becomes great (Goodstein, Nolan & Pfeiffer, 1993). However, strategic planning does not just become effective without considering some factors. It is necessary for all stakeholders in the organization to clearly understand the direction and mission of the organization. Nevertheless, the mission and direction of the business should go apply in hand with foodstuff chan ges, which call for a business to strategically prepare for different market segments. In regard to Fed-EX Corp as a key player in the logistics industry, strategic planning would lead to more cost reduction as well as maintaining best prices (Long, 2004). It can overly be argued that strategic planning in logistics business can act as a roadmap for scotch and operational success. Additionally, strategic planning would act as a facilitator of efficient, flow of goods and information from companys premise to consumption points (Moradi, 2012). This has an advantage of conforming to customers needs and satisfaction. Mission direction Fed-EX Corp offers crownwork step logistic solutions to our customers based on expertise. Customers prefer our services based on quality and reliability A company can not operate without a mission statement and expect to go far. A mission statement is vital in ensuring the success of a business. It not only set targets for businesses to tally its fin ancial goals, but also enables businesses to build their somatic brand as they win the loyalty of customers by means of the provision of quality products and services (Goodstein, Nolan & Pfeiffer, 1993). For example, Fed-EX Corp mission statement would act as a corporate vision drive, motivate, unify and excite business into superior performance (Long, 2004). In order to offer top quality solutions to its customers, Fed-EX Corp would be motivated to work extra lumbering and work in bingle in order to keep the fire burning. In fact, a mission statement provides a beacon fire that a company can look at whenever it looses track of itself. This is true because when a company looses sight, a mission statement can be referred to provide an insight of the companys core competencies. In logistics business, Rushton, (2010) argued that a mission statement can facilitate greater take places on investment. Additionally, a measure of return on equity is argued to be more than double in com panies that have written mission statement. Although it is hard to indicate the part of mission statement that brings success to a company, a combination of parts of a the mission statement can help a company prosper in different ways. For example, the statement should clearly establish the line of business the company is engaged in. This helps the company focus its efforts towards succeeding in that line of business. Vision statement To build greater global logistic solutions through quality, integrity and favorableness