Assessment 1 Essay Example | Topics and Well Written Essays - 750 words

Assessment 1 - Essay ExampleIn the view of Doran (1996), the main container of this asset is the humans resource or more precisely, human capital of the organization. Thus, retaining the human capital with organization and maintaining its efficiency is every bit important. In this context, the issue of context management becomes highly significant.According to Mondy (2007), besides retaining the employees, it is also essential that the employees must(prenominal) be suitable to utilize knowledge asset possessed by him to achieve the organizations strategic objectives. It is normal belief that when the strategic objectives are let outed and the vision is clear, the approach of using the organizational hierarchy to develop and translate those strategies into action industrial plant well and answer into optimum performance. In order to understand this phenomenon, we call(a) for to understand the basic concepts one by one. First of all, lets look at the concept of dodging formula tion. (Ceriello and freewoman 1998)Every business has a common goal, which is to earn profit. In order to achieve this goal, the organizations analyze their surround and in the context of their environment, determine their own strengths, weakness, opportunities and threats. Based on this analysis, they formulate their own strategy. Usually, the process of strategy formulation is vertical in nature. ... (Jackson and Mathis 2007) The hierarchical approach to the strategy formulation is not the panacea, having cure for all the diseases. Rather, there are certain conditions when this activity of hierarchical translation of is fruitful, while at other points it is not. (Fisher, Scheonfeldt and Shaw 1987) The hierarchical approach is more successful when the management has a clear vision of the trainion, that where does it want to go. In such case when the top management, say the CEO makes some strategic objective. (Duncan and Dutton 1987). If the external environment of the organizati on is more or less static, and the CEO is well aware of the external environment, in such case taking a direct decision by the CEO and then transcendence of that decision down the hierarchy may result in higher performance. It is so because of the fact that it is assumed in such case, the environment is quite cognize t everyone in the organization. So what needs to be done is to tell them the strategy and they would be able to do it successfully. This all results in successful work performance. (Doran 1996) Awad and Cascio (1981) explains that this is the reason why it has been a common complete belief that.in the condition where the environment is known, the performance of effectiveness of the organization to achieve those goals increase manifolds. On these bases, it is take a firm stand that performance tends to improve when everybody in the organization knows where it is going, as hierarchical strategy formulation model works better. (Ceriello and Freeman 1998)However, the wo rld is now changing. The environment for the businesses is no more static. The world is moving too fast, so does the environment for the business. In this situation where