Outline and assess the different uses of strategy Essay

Outline and assess the different uses of strategy - Essay Example Rivals can have the same goals and objectives like ours. The nature of goals and objectives may be such that their realisation can accommodate only one individual or organisation or only a few individuals and organisations. Thus, strategy must have something to say on how several rivals should be dealt with so an organisation or individual can outsmart rivals. Resources are only available in limited states of abundance and scarcities. Individuals and organisations must therefore took stock of the most relevant resources for meeting goals and objectives and must establish a resource use policy or resource use combinations consistent with the resources that are available in terms of quantity, profile, and abundance. There are also rivals that can be competing for the same resources as well as in the realisation of the same objectives and goals. Goals and objectives are often pursued wherein there are obstacles to their realisation. The obstacle can be apparent or may only emerge in the course of pursuing the goals and objectives. Thus, strategy must be able to identify obstacles and anticipate the possible emergence of obstacles as goals and objectives are pursued. In the pursuit of goals and objectives, there are stakeholders involved. ... It can involve the combination of various forms of organisations, activities, and tools. III. Use of strategy by firms and non-firms Strategies are used by military organisations, businesses, and non-profit organisations. According to MacMillan and Tampoe (2000, p. 170), a business strategy defines the following: the scope of a business the consumer’s current and future needs that it wants to address within its scope of business the specific capabilities that will give its business a competitive advantage and the general conduct that will allow a business to gain territory within its area of business. Earlier, Porter (1996, p. 64) asserted that the essence of strategy is to choose of activities that are different from what rivals do. It can involve cost leadership, differentiation and focus (1996, p. 67). According to Porter (1996, p. 68), at the core, strategy is â€Å"the creation of unique and valuable position, involving a different set of activities†. It involves p ositioning, positioning trade-off, as well as operational effectiveness (Porter 1996, p. 67-68). Alone, however, operational effectiveness is not strategy (Porter 1996, p. 78). Strategy covers what not to do, making trade-offs in competing, and combining activities (Porter 1996, p. 70). It is about a whole system of activities and not just a collection of activities (Porter 1996, p. 70). Strategy also involves forging a fit among activities (Porter 1996, p. 77). Mintzberg (1987, p. 11) described that strategy have two essential characteristics: they are planned in advance and are developed consciously and purposefully (1987, p. 11). At the same time, however, Mintzberg (1987, p. 11) stressed that the field

Summary Essay Example | Topics and Well Written Essays - 250 words - 4

Summary - Essay Example In its most basic sense, the petrophysical model took into account nearly all the measurements as well as readings which were extracted from down hole using logging tools and hence the pertinent interpretations were derived as a result of the same. His assertion was that logging data and then finding out the readings are in essence elements that were all computerized and thus he was optimistic that the industry shall cease to make use of the old logs which used to be written on papers and later on saved within different packs of paper, all of which were cylindrical in shape and form. What this model did was to include different kinds of logs as it made use of a wire line data within its entirety. Further, the model focused on the basis of finding out how and where to complete the well as well as identify the net pay zone, and whether or not it cut off any data meanwhile. Mullen pinpointed after a thorough analysis a certain number of advantages related with this software which suggested that it was indeed pretty easy to learn and make use of, and it also cut back on the cycle time as nearly all logs were digital in nature. Moving on, this software played its due role at providing job treatment reports as well as other information which saved a lot of time as it employed the most advanced technological regimes. What is even better is that this software was considered very accurate as well as up to date with regards to its related understanding level. For instance, in GR logs it was able to distinguish each and every radioactive mineral in its own form so that a proper determination was sought as to whether shale or clay minerals and rocks could have existed, whilst understanding the same within the realms of the readings that were taken. Further it played its due role at differentiating the height of the reservoir, its permeability as well as the hydrocarbon pore volume. The orientation of naturally occurring fracture within the formation was also accounted