Business Policy Development and Implementation

In a persistently transforming business and organizational setting, corporations are progressively being faced with stiff competition. Consequently, they are forced by the requirement to advance their presentation and address issues in the most anticipated methods to meet customers’ requirements. In today’s world, companies can no longer depend on non-modern analytical mechanisms. As a substitute, they have realized the requirement to utilize structures and models like a balanced scorecard in examining the extent to which businesses work to achieve their goals and objectives (Siregal etal., 2018). Additionally, strategic decision-making must be conducted via compliance with the persistently transforming patterns and trends that might ultimately affect the organization’s status. In the report at hand, I will provide approaches in which our team has used the balanced scorecard structure and made rational decisions.

Five Ideologies of Strategy-Oriented Firm

The job of formulating team and organizational strategies is not a walk in the park. There is a necessity of developing future decisions for the ultimate survival of the company. Consequently, they can have an appropriate outlook on the day-to-day activities contributing to the firm’s success. The decisions can be fatal for the firm if decisions are not made wisely. Thus, there is the requirement for the utilization of a balanced scorecard to enable teams to make future decisions grounded on their tactical programs.

The 1^st ideology aimed at translating the tactic into functional terms. As a tactic-oriented team, we translated the company’s tactic into the sensible architecture of a balanced scorecard and a tactic map. The team made an understandable and common point of reference as far as all departments are concerned. The team managed to address the probable limitations of the industrialized age’s tangible asset measurement structures (Fulk et al., 2011). The dimension links of reason and influence relations in tactic maps helped the team control how the insubstantial assets would be changed into tangible and monetary results. In specific, the scorecard’s operation of measurable but non-financial metrics like client satisfaction, invention, market share, and cycle time enabled the value-creating process to be described and measured as contrasting to being contingent.

The 2^nd ideology that guided the strategic portfolio of the team is its alignment to the organizational tactics. Like other companies, the team was traditionally formed around functional specialisms like research and development, marketing, and finance. Therefore, the team’s purposeful silos appeared and turned out to be the main restrictions to the tactic application because the team experienced complexities in organizing and interconnecting around these specialty utilities. On the other hand, we broke down the barriers and coordinated the formal reporting systems and frameworks with tactical priorities and themes. This effort helped the team to have a collection of priorities and a persistent message.

The 3^rd ideology will be used to make each strategy be every day’s task of every team member. As a strategic-oriented group, we will encourage workforces and members to understand the tactic and embark on their everyday surroundings in approaches that take part in these tactics’ ultimate success. This might not be a top-down decision. In its place, it will come in an arrangement of a top-down communication. The team will ensure that the persons who are far from the regional and corporate headquarters still get approaches of undertaking their business activities’ and tasks (Kiweewa et al., 2018). This will take part in the realization of the general tactical goals of the organization. As a result, all workforces must undergo training on main concepts like database marketing, variable costing, and customer segmentation.

The 4^th ideology articulates that marketing has to be made a non-stop process. In-toeing line with this ideology, the team developed a program for ensuring that marketing functions are conducted on a continuous and regular basis. Rather than being an annual activity, the team ensured that marketing functions are conducted monthly and perpetually. The fifth ideology asserts that there is a requirement to mobilize transformation via executive management. For working toward the objective, the team conveyed their obligation to offer willingness and openness in taking up organizational transformations. This goal was achieved by launching communication inventiveness to encourage the team’s participation as far as change activities are concerned.

Recommendations to Improve Team Performance

Many approaches can be utilized in improving the productivity and performance of the team. First, a training plan could be established to improve and sharpen the skills of team members. Training is anticipated to help the team members develop efficient strategies for addressing competitive issues that persistently emerge regularly. Introducing a collaborative and participative decision-making atmosphere where all members’ opinions are welcomed and respected is also expected to improve the team’s productivity and performance.

In summing up, team members and organizational leaders make many decisions daily. These decisions have an enormous effect on the competitive advantage of the team. Consequently, tactical decisions have to be learned by the most appropriate evidence bodies that might need the use of models and metrics for observing performance. The balanced scorecard is among the most common measurements and can also guide leaders in decision-making.

References

Fulk, H. K., Bell, R. L., & Bodie, N. (2011). Team management by objectives: Enhancing developing teams’ performance. Journal of Management Policy and Practice, 12(3), 17-26.

Kiweewa, J. M., Gilbride, D., Luke, M., & Clingerman, T. (2018). Tracking growth factors in experiential training groups through Tuckman’s conceptual model. The Journal for Specialists in Group Work, 43(3), 274-296.

Siregar, C., Pane, M. M., & Ruman, Y. S. (2018, May). The Virtual Team Performance in Solving Teamwork Conflict Problems. In Proceedings of the 2018 International Conference on Distance Education and Learning (pp. 1-5).