Business strategy. Strategies aren't worth the paper they're written Essay

Business strategy. Strategies aren't worth the paper they're written on Discuss - Essay Example According to MacMillan and Tampoe, each business must have a business strategy and, thus, multiple of business enterprises must have a number of strategies (2001, p. 171). Yet, at the same time, the situation implies that there is a need to appropriately define the scope of each business (MacMillan and Tampoe, 2001, p. 171). According to MacMillan and Tampoe (2001, p. 172-173), in addition to the four content pointed out earlier, a business strategy document should also contain the following: 1) a statement of intentions; 2) the principal findings of a strategic assessment covering analyses of the business environment and capabilities of the enterprise; 3) the strategic choices that have been made and the reasons for each strategic choice decision; 4) articulation of goals and objectives; and 5) identification of key initiatives that the enterprise would take. Perhaps, a good indication that the use of strategy is not on the way out is a key document from the United Kingdom’s Her Majesty’s Court Service or HMCS. A 2006 document of Her Majesty’s Court Service or HMCS outlined a â€Å"business strategy†. ... † written in 2006 described what the business organization of the HMCS will be like and articulated a business model, defined priorities, and defined a strategy that covered effective case management, modernisation, simplification of procedures, and ensuring compliance. From the 2006 HMCS document alone, it is clear that the use of business strategy is not on the way out. Organisations such as businesses and government units use business strategy to articulate both to their personnel as well as clients how they intend to conduct their business or how each personnel should behave as they conduct their business. Big business corporations employ strategy. For instance, this fact is indicated in a 2008 document of the Coca-Cola Company. The importance of a business strategy document is highlighted by a statement on the 2008 document of the Coca-Cola Company. The Coca-Cola Company (2008, p. 2) document says, â€Å"Simple ideas backed by constructive action can change the world. As we set out to create a more sustainable world, we begin by imagining what it might look like. Then, in collaboration with our associates and partners around the world, we embark on joint efforts to make that vision a reality. Because nothing important was ever conceived without imagination or accomplished without effort.† Of course, while strategy involves imagination, it is not equal to imagination. It is, at the same time, imagination and a lot more. It involves an assessment of the situation and, as mentioned earlier, the identification of basic choices that must be made and the decisions taken on those choices to steer the enterprise given various types of anticipated scenarios in the future. The Cocal-Cola business strategy or strategy (the word â€Å"business† is written off because