Introduction:
Organizational strategy according to Haneltet al. (2021), is determined as the plan that the management builds up and adopt to enhance productivity and boost the performance for incurring profit. Through the organizational strategy, companies expand in the foreign location as well as many bring a shift in the internal operations. Strategies do serve the foundation of the business that fosters innovations by avoiding the risks. The report aims to discuss the type of organizational strategy desired, the specific company strategy and an evaluation of the framing of the strategies. In the report, some suggestions are being made regarding the strategic option that can be available for the company.
Organizational strategy admired:
According to the Strategy Wheel Model, there are some of the strategies that are termed to be important such as shared, hidden, false, learning and realized strategies. However, considering the operations of the organization, the types of strategies are Functional, Corporate Level, and Business Level strategy.
Among the three, the most desired strategy is the Corporate Level strategy that enables to have a look at profit, bringing diversification, concentration on the business model and performance investigation into what has been happening around and matching it with that of the organization (Seifzadehet al., 2021). According to Mann et al. (2020), corporate-level strategy is determined as crucial in the age of digital operation. Digitally, companies are reshaping the business model with the help of the corporate level strategy. Corporate-level strategies are mainly adopted by the companies for gaining competitive advantage by selecting and managing the business operations carried out at different levels. In this strategy, the business remains people-oriented and profit-oriented as well that the performance seems to be ethical in all sense (Chenet al.,2020).
In the Corporate Level strategy, there are different types such as Horizontal Integration, Diversification, Expansion strategy, Backward Integration and others. Henceforth, with different kinds of strategies embedded under the corporate level strategy, it is being evaluated that organizations can focus on what is important for the growth of the business by keeping aside the risks (Elhammali, 2021). In the contemporary environment, businesses are more like practicing corporate-level performance with strong policies and ensuring that maximum benefit is gained by the organization.
Interestingly, Muteshi and Kariuki (2020) have pointed that with the corporate strategy, it is evaluated that organizations do tend to have a systematic approach towards the performance and ensure that businesses are developing by improving the performance of the employees. For achieving the target in the strategy, a network is being built. The networks do help to develop the connection and take the support of other agencies to fulfill the organizational objective. In the current business scenario, organizations are running with corporate-level strategy as multiple benefits can be obtained from it that can help to gain long term benefits.
