Crafting and Executing Strategy Essay

The Branding Bar LLC. , is a marketing/ branding agency that is based in Atlanta GA. As the founder and CEO of the agency I understand the value of having a strategy for the company to insure the success of how I plan to operate and be a competitor in my industry. Effectively communicating the strategic vision the line to lower-level managers and employees is as important as the strategic soundness of the long-term direction top management has chosen. The company vision’s has to be clear and define where the company is going and why in writing so it can be understood and supported by the members of the organization.

The future of the company needs to have a convincing plan so that its members feel that those being there will have some meaning and feel as though they are a part of something. Thus, the executives ability to paint an inspiring picture of the company’s journey and destination is an important element of effective leadership. (pg 30) Create a mission statement for the company explaining how the mission will be essential to the company’s success. We at The Branding Bar LLC. ur goal is to increase our clients brand awareness through varies integrated marketing strategies to propel the clients overall marketing efforts. We do this by offering custom social media/cause marketing campaigns, building brand identity and product launches designed for the client’s business goals. The Branding Bar is a service company, dedicated to long-term relationships with our client and the community. This mission statement is essential to the agency’s success because it distinguishes the company’s makeup about who we are, what we do, and why we are here.

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I think that this is a good explanation of the present business and why we exist. Create a vision statement for the company explaining how the vision statement supports the company’s mission. The vision statement for The Branding Bar is to stay committed to the service of helping our clients achieve the best outcomes of their marketing efforts. We will do this by having a team of creative individuals to execute flawless campaigns. We aim to seek market changes in the industry to serve our client to maintain our customer’s loyalty.

This vision statement supports the company’s mission because it reiterates the agency’s direction and purpose to help the members recognize the motivation behind why they exist. As a manager by articulating the a vivid and compelling case for where the company is headed it will let my staff more interested in being involved with the future of the company. Establish five (5) key objectives for the company encompassing operational, financial, and human resource aspects of the business and justify why each of these objectives is essential to the success of the business.

Objectives are set for all areas and departments of an organization. Through the objectives can vary widely from one organization to another organization, they can be broadly divided into: profitability, service to customers, employee needs and welfare, and social responsibility. The following are the areas of objectives for The Branding Bar LLC. 1. Markets: Objectives are expressed in terms of the market or total rupee sales or total quantity of sales. 2. Productivity: The level of or services produced by The Branding Bar LLC. relative to the resources used in the creative process, we would probably use fewer because we are a consulting business. 3. Innovation: Any change made to improve methods of conducting organizational business. Organizational objectives should indicate innovations the organization desires to implement. 4. Product/Services: These objectives are expressed in terms of sales and profitability 5. Manager Performance and Development: these objectives are related to the quality and rate of development of managerial skills, knowledge and performance.

Development of managerial performance is very important from the view point of the long-run success of the company and achievement of the other objectives of the company. Our primary goal of setting objectives for the success of the business is to get people within the organization to understand and execute what they’re supposed to do in order to help the organization reach its goals. Strong open communication, change management, and training are among some of the objectives that can assist in this process.

But in the end, the key to success is aligning all aspects of performance management with things people can understand and personally control within the organization. Organizations, without clear objectives will not have basis for evaluating their performance or success Justify how the five (5) key objectives established support the mission and vision statements of the company as defined in the assignment. The accomplishment of purpose or mission of an organization requires the formulation of objectives.

These objectives are classified into overall organizational objectives, departmental objectives as well as unit level objectives. Based on the time objectives are classified into long-range objectives and short-range objectives. Long-range objectives are notably speculative for distant years. Short-range objectives are performance targets, normally of less than one-year’s duration. Objectives represent a managerial commitment to achieve specified results in the overall success of the agency.

References

Thompson, A. A. Strickland, A. J. , & Gamble, J. E. (2010). Crafting and executing strategy: The quest for competitive advantage: Concepts and cases: 2009 custom edition (17th ed. ). New York: McGraw- Hill-Irwin. Ausadesus-Masanell, R. , & Tarzijan, J. (2012). When one business model isn’t enough. Harvard Business Review, 90(1/2), 132-137. Bungay, S. (2011). How to make the most of your company’s strategy. Harvard Business Review, 89(1/2), 132-140. Hamel, G. (2011. ) First, let’s fire all the managers. Harvard Business Review, 89(12), 48-60.