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Competency Management - Strategy, Purpose and Objectives
IntroductionStrategy is a cohesive, thorough and incorporated design prepared to make certain that the fundamental objectives of the organization are achieved. Thus the objectives have an important role to play in the strategy of an organization. For the reason that objectives specify the purpose of the organization it is significant that they are evaluated as part of the strategic analysis process of the organization (Kee et al., 2008). The objectives can clearly demarcate the priority and standards of performance. Strategic Purposes and ObjectivesThe primary purpose of any business is to serve its customers efficiently and effectively. But it should be able to distinguish itself from its competitors. What distinguishes an organization form its competitors? Competences, strategy and operations are main factors in this. At the same time it is important to have distinguishable sets of goals and over and above particular approaches to accomplish those goals (Kotter, 1996). Objectives set out both the general and definite intents of the organization. Strategy is thus formed by the objectives. Over all objectives identify the following:
The main determinants of the objectives of an organization are:
In a swiftly transforming environment the foremost rationale for the analysis of objectives is to make certain that they carry on being appropriate. Objectives should be leading the organization towards a change as the environment is transforming. In following section we will deal in detail the steps required for strategic change The Making of Strategic ChangeMembers and value adding activities working within the context of an organization (Freeman, 2006) to develop strategic capabilities (Kee et al., 2008) should be engaged in the strategy making. In the present scenario of globalisation, strategy making requires for a different perspective from leadership. It requires to be less hierarchical. Simultaneously leadership has to cut across borders to involve stakeholders (Davis and Smith, 2004) While developing strategic options the leadership should consider the following actions:
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