Building and Sustaining Strategy Essay Example | Topics and Well Written Essays - 1250 words

Building and Sustaining Strategy - Essay Example Establishing good customer relations has helped learn the importance of feedback in the business (Langdoc, 1998). The feedback reception helps an entrepreneur to plan and make necessary changes in the product and services approaches. Innovation is a very important part of building and sustaining strategy. As an entrepreneur I have also learnt the basic skills of nurturing an innovation protecting it and making the best out of it. For any business to be successful there must be a good communication network. Lack of feedback was major issue at the organization (Coyle, 2003). The management never responded to the points of concerns raised by employees. Effective feedback usually helps in dealing with the emerging challenges. The management is the policy translator to the employees and therefore continuous feedback should be available. I have also been able to learn the importance of good communication with other employees. The proper communication network helps in solving problems that we may encounter while conducting business. Good communication is also important with the customers (Business Forecasting, 2011). Management is a continuous process of synchronizing an organization with its market throughout while tackling the competitors and regularly collecting feedback within the organization itself (Buchanan, 2000). It examines external and internal factors affecting a particular organization together with the skills, information and strategies put in place to effectively manage the change and consequent improvements. I have a feeling that management is an effective tool for decreasing motivational and environmental constraints while improving organizational structure. I learnt that lack of organized information (lack of an integrated framework) in an organization is a potential drawback. Organizations have departments, which at most times cause distortion of information hence influencing the decisions made by the executives. Information in an organization can b e organized in a process-based manner (Pitak, 2000). The process-based manner ensures that the organization is viewed horizontally regardless of the departmental boundaries. In addition, intangible (making of decisions, leadership, and innovation) and tangible should be Organization communication is the movement of knowledge and information amongst people in the organization in order for efficiency and effectiveness to be attained. Both the management and staff should share the goals of the organization. In the past, application aspects (writing and speaking) were the major concerns of communication but it later changed to character-based aspects. Since that time, organizational communication has developed and undergone various modifications. When changes or challenges occur in an organization, ways and means are identified to counter the changes effectively spread equally within the organization fraternity. For any entrepreneur the ability to maximize and optimize profits is an ess ential part while building and sustaining strategy. Application There is need for development of an overall plan on the integration of the various departments and staff. The management should insist on teamwork and establish an environment within the company that practices respect and diversity. The management should make a decision on the points of responsibility interdependence by assessment of the joined responsibilities. After