After review, write a 2 to 3 page response to the following questions:
1. What is the most important problem facing the Wallace Group?
2. What recommendation(s) would you make to Mr. Wallace, and in what order of priorities?
3. How do you educate a manager to manage an organization as it evolves over time from an entreprenurial structure to a more sophisticated and complex organizational structure?
Strategic Management and Business Policy
Wheelen & Hunger Chapters 1 - 2
Strategic management is the process of specifying an organization's objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans. It is the highest level of managerial activity, usually performed by the company's Chief Executive Officer (CEO) and executive team. It provides overall direction to the whole enterprise. An organization's strategy must be appropriate for its resources, circumstances, and objectives. The process involves matching the companies' strategic advantages to the business environment the organization faces.
One objective of an overall corporate strategy is to put the organization into a position to carry out its mission effectively and efficiently. A good corporate strategy should integrate an organization's goals, policies, and action sequences (tactics) into a cohesive whole. To see how strategic management relates to other forms of management, see management.
The most important problem that the Wallace group is facing is a combination of over-estimation of resource competence, failure to coordinate, failure to obtain employee commitment. With Over-estimation of resource competence, can the staff, equipment, and processes handle the new strategy, along with the failure to develop new employees and management capabilities. Not because an Enigneer was great in his deparment mean he or she would be wonderful as a supervisor. Without the managerial training this person infact can do more harm than good.