Crafting and Executing Strategy Essay Example | Topics and Well Written Essays - 1250 words - 1

Crafting and Executing Strategy - Essay Example The new CEO of the company formulated a strategic plan as per the need of the time. He formulated that there was an immediate need for the introduction of some strategy that needed to refresh their market condition. For that, he incorporate the strategy of markets drifts; existing electronic devices with revised and more easy-to-handle in lesser space. He worked on the new corporate philosophy of recognizable products and simple design, that did not exist right then (Sebastian Desbidt, 2006). Pertaining to the successful and in time execution of strategic planning, Apple now is the bench mark of excellent pocket electronics and a status symbol in electronic market, leading to have dropped the word â€Å"Computer† from its name. Now, it widely operates with high sales, premium profits and big market share as Apple Incorporation (Bread, 2011). Simply put, the strategic planning has helped Apple gain competitive advantage in the market. It gains the company a road map to define i ts strategies and seethe future road. The plan predicts the way to company’s future, and where is it going over a particular period of time and how is it going. As in the case of Apple, it is clearly evident that strategic plan is a management tool, which is for the management persons and business owners who seriously aim for the business growth. Strategic planning is one of the very important components of business plan. A typical business plan only lays out the purpose of the business, whereas strategic planning shows how it can be made successfully operational; business plan sheds light on the fund seeking, strategic planning drafts prioritization of financial needs and the effective sources to get them; business plan focuses on planning human resource, whereas strategic planning breaks down the duties and responsibilities and works on smoothing the communication between all the levels of the organization and finally, business plan structures the ideas, whereas strategic p lanning draws direction to move from plan to action. 2. Anticipated Mission Statement for Apple Incorporation Apple Incorporation’s mission is to provide its customers with convenient to use, all applications centered one single and handy user friendly electronic device that can even be easily used by the people who are not technology literate. We are constantly working on bringing in new and innovative technological devices that can add further ease and be suitable to be used for all ages. Our products meet the highest quality standards and come with high level usage assurance. Importance of Mission Statement Effective mission statements focus on the purpose of the formation of businesses. They highlight their fundamental and unique purposes. It puts light on its unique formation and it proclaims the corporate purpose of the organization. Additionally, the mission statement tackles what a particular firm intends to accomplish and guides the philosophical premises that guides their actions (Dermol, 2012). If once the mission statement has been successfully set, it becomes basis for building other intended actions. For instance, the Apple Incorporation’s mission statement makes it clear that their primary motive is to focus on the production of user friendly devices. Once cleared, the company can easily define the line of its operations and it can make its way from the monotonous market approaches towards a single and outlined method