It would also possibly lead to division amongst staff due to lack of control and planning and poor organizational behavior. Strategy Implementation is a fundamental role in business success and is defined by Schermerhorn, Davidson, Poole, Simon, Woods and Chau as the process of putting strategies into action (Schermerhorn, 2011) Valves Strategy implementation and poor strategic planning appears to be one of lack of direction and poor strategic planning. Without strategic plan Value is losing results in Stronger inter-functional and interdivisional alignment throughout implementation and critically rapid and effective adaptation to a rapidly changing environment (Rader, 2012) Continual reviewing and revisiting of the assumptions that are made within the organization about its purposes and functions (Gray, 2005) Forecasting and future developments would suffer whether they are global or idiosyntric.
For the time series analyst, this means recognizing that forecasting means more than computing the conditional expectation as the optimal one-step-ahead forecast. For the forecaster, it means recognizing that the time series literature has much to offer and that time series can provide many insights and solutions to current problems. (ORD, 1988) 2.Identification of theories
Strategic implementation and Strategy and Leadership for Valve Strategic implementation is the second foundation of strategic management responsibility. The management process for Valve needs to begin with a strategic management process. As discussed in the problem statement, it is clear that Value regard a management structure as a barrier of codified decisions (Valve Corporation, 2012). As written by Schermerhorn, Davidson, Poole, Simon, Woods and Chau Strategic Management is successful when organizations, even those operating in an environment of hyper competition, achieve sustainable competitive advantage and earn above average returns (Schermerhorn, 2011).
Some would argue that Value has achieved competitive advantage and above average returns by adopting the unstructual method that they are running with, most would counteract by perhaps saying that it would not last forever unless a structure of hierarchy and processes were put into place. Who is deciding the fate of the organization if the founder does not consider himself to be of importance to the business? At what point do insightful understandings get looked over, and at what cost to the business?
The founder would have to wonder how many opportunities have been passed over, by not having discussions with a Management team as to what would be best for the company to move forward. More focus would also need to be focused on allocating resources and putting strategies into action for the company to move forward with an aging population. Managing rapid change is perhaps something that Valve has not considered with the companys current structure.
The software business is a rapidly changing and evolving environment, the approach of implementing strategy and change to the business would almost certainly be challenging. As stated by Sterling and Rader, One of the key advantages of discussion-driven strategy is that the management team develops a common language to assess the issues they face and a shared understanding of assumptions and risks. As a consequence, if the chosen path does not generate the expected results in practice, the management team has discussed and rehearsed alternatives and so is already prepared to act on one of the other approaches it has previously vetted. (Rader, 2012, p. 5) Perhaps Valve has not considered these points while contemplating the structure of the business. Vigorous dialog to drive strategic development with effective implementation is another valid argument raised in the dialog of Sterling and Rader, all of which is missing from the planning of Valve.
With the current structure continual reviewing of procedures and strategies is also a big part of the companys structure that would fail them in evolving and growth. With no organizational chart, but a handbook that explains how the company operates the evolution of information would be failing dramatically. Staff numbers would easily become an issue, with separate departments hiring when and who they want, as long as they are of the caliber to runt he company, makes for a dangerous potion of self indulged achievement that would perhaps not benefit the company and its long term goal.
The purpose of strategy and leadership is a longtime preoccupation and is the key concept in organizational change that ought to be replaced by a more general view of strategic thinking that leads to appropriate change within organizations (Gray, 2005). Valve has minimal consideration for concepts on organizational change, which in tern a flow on effects from structural change through the evolution of the business. Valve does not take into consideration current demographic changes or take in the experience of all of those who are employed by the business; rather, keeping departments fragmented and isolated from ach other.
Working from a job list in a staff handbook would not provide room for change and lateral thinking. Valve would be loosing a considerable amount of room for growth by not expanding on the knowledge of others. The employees of Valve would be missing the knowledge and understanding of what the business is about in its close environment, which is defined as a strategy (Gray, 2005, p. 5). Gray also make a most valid point that So far as all industry, manufacturing and commerce as well as the whole of the public sector are concerned the most significant challenge is population growth through longevity.
A point that has been established earlier in this report. Environmental, product and market changes, innovations in processing and products are all factors of change and development that would really only be well established with a management team and a business structure that allows for grow in all areas of the business. Forecasting for the business is the pinnacle of growth and strategy for the business. Without foresight and new ideas, the company is at bounds with the small teams working for their own purpose (ORD, 1988).
Departmental discussions and listing jobs to be done to suit the needs of their departments is far from business forecasting to promote growth and strategy that will take Valve into the future of software development and success. The strategies in place are only meeting the needs of those who are trying to better the next person to be employed rather than establishing a strong and flexible yet stable business forecast for the companys future. 3.Recommendations
Valve is in need of addressing the strategic implementation and leadership of its business without delay. It is quite evident that the lack or corporate structure and the day to day running of the business via a handbook will only come to a sad end for a business that should be thriving greater than it currently is for now and into the future. Restructure with clear guidelines is required in order to adopt a culture of longevity and one that implement strategy and leadership that will in turn promote a substantial and viable forecast for the business. A dynamic discourse drives the need for effective strategy implementation.
A management team should be reviewing performances against recent plans and assess the external environment, share concerns amongst each others and set high level objectives to lend collective insights and perspective. (Rader, 2012, p. 5) Peer and Management presentations will provide the approach for leading discussion on many topics including the overall structure of the business, the culture of the business, the market it is targeting and growth in other target market areas, processes and how to improve current settings and structures and a view of the future competitive environment and how to best adopt an approach to market change and future development.
The functions of leadership and a strategic management process must be implemented to improve structure, staff relations and all decision-making processes. It is vital that a management sector be developed in the business to be able to practice effective planning which will enable to business and its leaders to set clear goals, strategies and business objectives, adopt control measures to evaluate all success of the strategies being implemented (Schermerhorn, 2011). Valve should also implement training programs for staff and not rely on self-improvement structures.
This is a dangerous practice where staff could become complacent with their positions and rely on other staff members to do the thinking and acting. This would also lead to a drop in longevity of the business by not establishing new goals and grounds for business growth. Forecasting and closer analysis of the business is described as follows by Keith Ord Rather than compete, forecasting and time-series analysis can benefit from a closer liaison. To do so, time-series analysts must realize that forecasting involves more than computing the conditional expectation as the optimal one-step-ahead forecast.
Forecasters, likewise, must realize that time-series analysis has much to offer and can provide many insights and solutions to current problems. The M-competition of Makridakis et al. (1984) is important in this regard because it reminds researchers that: 1. Forecasts are made conditionally upon the model, 2. The model selected for optimal one-step-ahead prediction may not work as well for several steps ahead, and 3. Combinations of forecasts often work better than single forecasts. Forecasting must model structural change, and the incorporation of structural changes indicates greater use of the Kalman filtering algorithm for this purpose.
Suitable forecasting methods must take into account the forecasting horizon, background information, purpose of the forecast, and importance of the forecast (ORD, 1988) It is almost a shame to think that Valve does not and has not taken any of these findings into consideration when deciding on the structure in which the business operates. Forecasting leads to prosperous business and a steady yet fruitful increase in business and the income on which the growing business should run. 4.Conclusion
It is quite evident that strategic planning, implementation and Leadership is a failing component to the business of Valve. The underlying non-structure of the business will lad to an epic failure of the company if structures and strategic components of management are not put into place. The current structure is extremely complacent and will, if not already create a diversity that is extreme an not conducive to a successful working environment for the founder of the business and the staff of Valve. With the successful implementation of structure, vision and leadership, Valve
would succeed into the future with extreme growth and prosperity in business and working culture. Works Cited
Valve Corporation. (2012, February). Valve. Retrieved July 6th, 2013, from Handbook for noew employees: http://newcdn.flamehaus.com/Valve_Handbook_LowRes.pdf Gray, H. (2005). Strategy and Leadership. Development and Learning in Organisations , 19 (19), 5. ORD, J. K. (1988). Future Developments in Forecasting The Time Series Connexion. International Journal of Forecasting , 4, 389. Schermerhorn, D. P. (2011). Management Foundations and Applications. Milton, Qld, Australia: John Wiley & Sons. Rader, J. S. (2012). Conference report Dynamic discourse drives effective strategy implementation: Association for Strategic Plannings annual conference recap . Strategy and Leadership , 40 (6), 7.