Introduction
The key steps required of the Strategy-Making Process are those of developing a strategic vision and business mission, setting objectives and performance targets, crafting a Strategy, implementing the Strategy and evaluating Performance (Ward 2017). Source:Thompson et al. 2008.
Strategic Vision and Mission
According to (Bass 1990) the transformational leader has charisma and extends vision and purpose of mission in the staff, instilling pride, and gaining respect and trust. Fundamental to the strategy making process, vision and mission statements are intertwined, however, the distinction lies in that a company mission is about what a company is doing right now, whereas the vision looks forward with regard to what the company …show more content…
2008). There is a strong association between competitive advantage and profitability; therefore, crafting a strategy is paramount in trying to achieve competitive advantage (Thompson et al. 2008) p7, so as to accomplish the objectives of the firm and to move in the direction of the strategic course set out by the management. Efforts in crafting the company strategy are continually developing as the company changes (ibid) and are influenced by both the internal and external environment (Ward …show more content…
2008 p52). The market size for cloud industry is growing rapidly and it is apparent that all major players are trying to seize as much of the market share as possible during this phase (Vasudha 2017).
Industry completive forces
Porter’s five forces model is significant in evaluating the industries competitive forces. The main competitive pressures associated with the five forces for the cloud industry is rivalry among competing sellers and the power of buyers (Vasudha 2017). As standard cloud services are becoming more commoditized, this may weaken the industry’s ability to charge buyers in the future. The driving forces for the industry are the changes in internet technology and capabilities which now make it cheaper for companies to utilize cloud services rather than invest in their own equipment (Vasudha 2017). As the market is maturing, product innovation, cost and efficiency changes are driving prices down within the cloud industry (ibid).
Competitive
The key steps required of the Strategy-Making Process are those of developing a strategic vision and business mission, setting objectives and performance targets, crafting a Strategy, implementing the Strategy and evaluating Performance (Ward 2017). Source:Thompson et al. 2008.
Strategic Vision and Mission
According to (Bass 1990) the transformational leader has charisma and extends vision and purpose of mission in the staff, instilling pride, and gaining respect and trust. Fundamental to the strategy making process, vision and mission statements are intertwined, however, the distinction lies in that a company mission is about what a company is doing right now, whereas the vision looks forward with regard to what the company …show more content…
2008). There is a strong association between competitive advantage and profitability; therefore, crafting a strategy is paramount in trying to achieve competitive advantage (Thompson et al. 2008) p7, so as to accomplish the objectives of the firm and to move in the direction of the strategic course set out by the management. Efforts in crafting the company strategy are continually developing as the company changes (ibid) and are influenced by both the internal and external environment (Ward …show more content…
2008 p52). The market size for cloud industry is growing rapidly and it is apparent that all major players are trying to seize as much of the market share as possible during this phase (Vasudha 2017).
Industry completive forces
Porter’s five forces model is significant in evaluating the industries competitive forces. The main competitive pressures associated with the five forces for the cloud industry is rivalry among competing sellers and the power of buyers (Vasudha 2017). As standard cloud services are becoming more commoditized, this may weaken the industry’s ability to charge buyers in the future. The driving forces for the industry are the changes in internet technology and capabilities which now make it cheaper for companies to utilize cloud services rather than invest in their own equipment (Vasudha 2017). As the market is maturing, product innovation, cost and efficiency changes are driving prices down within the cloud industry (ibid).
Competitive