According to charles E. Bamford in his book Strategy:Sustainable advantage and performance is about a compilation of every important details about strategy concepts and ideas that provide a brief information to help every business firm to grow and accomplish their goals and vission for the company. Charles E Bamford said that if you want to have an advancement in every area of your organization especially againts to all of your competitors you must learn and understand the different strategic concept and ideas in order to stand along the competition. The book is also compose of three chapter that discuss and elaborate every terms about the topic.
In the first chapter of the book discusses about the importance of having a strategic concepts. According to his book some companies succeed wildy, while others fail miserably and most of fall in between. He ask why is this happening? And why do some companies perform better than others even in the same industry and why do companies achieve superior performance over the long run? According to Charles E. Bamford strategy may be one of the most overused and misused term in society today. Everyone has strategy every in their lives. Strategy is more than any simple set of activities designed to obtain some desire end. Strategy is generally, then we will define it in more specific terms. In general terms you can think of strategy as overall concept for how organizes itself and all its activities in order to conduct business successfully. Out perform competitors and deliver superior returns to its shareholders. But the concept of strategy is more than just how a business coordinates all its activities its also about performing better than competitors and delivering superior return. Some companies may be well coordinated across their functional areas, but are beat up by competitors in the marketplace and earn only average returns. Strategic management is the process through which strategy is developed, executed, and evaluated. According to charles there are typically four stages of the strategic management process analysis, fomulation, implementation, and evaluation. Analysis includes examining and understanding the industry in which you want to compete, and looking carefully inside the company to understand what is unique competitive strength are and how it organizes its activities to create and deliver value. It is through the analysis process that companies often discover new opportunities or threats, and begin to realize how they can organize and reorgnize to create value. Formulation is the stage in which management articulates its vision and mission, outlines goals and objective, and decides upon a particular type of strategic approach to take. It is also depends on good, strong analysis. Implementation is where the formulated strategy is put into practice through the decisions that companies make about how to allocate resources, how to structure the organization and motivate employees, and which type type of tactics, programs, and activities the company ingage in strong implementation efforts call for conscistency of effort across all the functional areas of a company. And the last part of strategic management process is evaluation, an activity that actually occurs throughout each of the three stages. By creating system of evaluation that operates continously, managment to able to respond more rapidly when actual result begin to diverge from what they had expected in formulation stage.
Strategy is also about getting from the present to the future, about mapping out direction for the longer term, which takes into account an always envolving market and smart competitors. The essential of strategy is the creation of competitive advantages that can be developed, refined and dynamically maintained.
According to Charles E Bamford a mission statement can be defined as a brief statement that summarizes how and where the firm will compete in the present, wheareas a vision statement presents a more compelling, overaching image of the organization in the future that motivates employees to focus their action toward a common point. Vision is an over all picture that can be pursued for indefinite times in the future. Once you have a vision than what? How can you made your vision come to pass? By setting and reaching goals. Organizational vision is a goal that is massively inspiring overaching, and long term it represent a destination that is driven by evokes and passion. Leaders must develop and implement a vision . The vision statement may also contain a slogan, diagram or picture. A company mission statement differs from its vision in that it compresses both the purpose of the company and the basis of competition and competitive advancement. Defining the mission and vision for a business are two of the most difficult, yet equally most critical , elements in any company’s long term success. In fac