Management
Q1
The learning organization is an organizational structure or the culture which gives the importance to the learning, innovation and taking risks relating to the prospects of the business. The main advantage of the learning organization is that it provides the chance to generate profits as the first movers in the market. The changes and improvements in the technology are forcing the organizations to focus on the studies of the employees to maximize the competitive advantage. (Silberman, 2013)
Q2
The Mintzberg’s Modes of Strategic Decision Making describes the strategic approaches of the business. In the Entrepreneurial mode, the strategic planning is done by the owner, and it focuses on the growth and the opportunities for the business. The Adaptive mode concentrates on the problems of the business and resolving of these problems to achieve the long-term goals. The Planning mode is described as the learning mode, in which the organization learns from their mistakes, take risks and try to enhance their market by using innovative skills. The Planning mode is the most strategic mode in the Mintzberg’s Modes of Strategic Decision Making. The main reason is that it allows the management to reform or improve their initial strategic planning according to the changes in the market. The aligning of strategic goals as per the changes in the market creates the opportunities for the business effectively. (Samthong, 2015)
Q3
The strategic values provided by external and internal environmental scanning can be referred as the SWOT analysis of the business. The external environmental scanning activities provide the list of threats such as new entrants and the competitors. Similarly, the external scanning also provides the possibilities of the opportunities such as new potential market and projects for the business. On the other hand, the internal scanning activities provide the list of strengths such as skilled labor, financial resources and the reputation of the business. Moreover, the weaknesses of the business are also disclosed in the internal environmental scanning activities.
Q4
The Strategy formulation is the process which focuses on the advantages of the organization over their competitors to achieve the strategic goals. It is very important for the management of the business in the making of strategic formulation because any misjudgment or unrealistic approach can create problems or losses for the business. The main pitfall or disadvantage of strategy formulation is that it focuses on the advantages or the strengths of the business as compared to the possible future financial and non-financial risks of the business. The most of the planning under the strategic formulation is based on the current strengths of the business, and the future long-term goals are not of the highest importance. Therefore, the balanced strategy must be adopted to sustain in the market at the acceptable level of risk. (Steps in Strategy Formulation Process.)
Reference
Silberman, J. (2013). The Importance of Organizational Learning. Training Station. Retrieved 18
Samthong, W. (2015). Mintzberg’s Modes of Strategic Decision Making. prezi.com. Retrieved
18 January 2017, from https://prezi.com/xxbuoe-v_vfg/mintzbergs-modes-of-strategic-decision-making/
Steps in Strategy Formulation Process. Managementstudyguide.com. Retrieved 18 January 2017,
