Question

Should a company's strategy be visible or hidden? Discuss the pros and cons based on Fred David's UTube presentation

Answer 1

Answer- The success of any company depends on its strategies. The strategies of a company should be hidden or visible has always been a confusing question. Sometimes its important to share the strategies to show what company is attempting to accomplish and the investors are also interseted in investing their money if strategies are clear to them. So it is good to share important strategies with the employees, clients and management of the company but these should not be revealed to the competitors. Proper precautions should be taken while discussing the strategies with the trustworthy members of the company. This would help in increasing the motivation and maintaining healthy relationships among workers.

Fred.R. David is a famous strategic planning scholar, author and consultant. According to him, management is not possible without strategies. It is important for modern management. He describes various pros and cons of strategic management of a company.

The most significant advantages of strategic management are-

• Strategic management ensures the capability of the company to solve issues. Managers are able to monitor employees and plan responsibilites accordingly.
• Strategies contribute to the clarification and understanding of the mission and motive of the organisation.
• It is helpful in increasing employees motivation and reducing resistance to change by a better understanding of the performance- reward relationship.

Some of the disadvantages of strategic management are-

• Strategic management is not able to provide a clear and detailed picture of the future of the organisation.
• It can not be limited to a set of rules, procedures and schedules. It generally describes how and what to do to solve problems and situations.
• Strategic management takes hard work and lot of time and resources to implement strategic management process in an organisation.

Despite of many limitations, an organisation should implement strategic management to achieve its objectives and to ensure its survival in the continuous changing environment.