• Home
  • Management
    • Brand Management
    • BUSINESS ETHICS
    • Financial Management
    • General Management
    • Human Resources Management
    • Information Technology Management
    • Marketing Management
    • Operations Management
    • Real heros
    • Strategic Management
  • HIGHER EDUCATION
  • Research
  • News
    • Current Affairs
    • Political affairs
  • GENERAL
    • Food & Cooking
    • Gardening
    • Health & Wellness
    • Heritage
    • Leadership
    • Literary
    • Movies & Music
    • People and Trends
    • Plants and Greenery
    • Psychology
    • Real Heroes
    • Spirituality & Meditation
    • Travel & Tourism
Dr. Vidya Hattangadi
  • Home
  • About Us
  • Management
    • All
    • Brand Management
    • BUSINESS ETHICS
    • Business Management
    • CORPORATE GOVERRNANCE
    • Economics
    • Financial Management
    • General Management
    • Human Resources Management
    • Information Technology Management
    • International Business
    • Marketing Management
    • Operations Management
    • PROJECT MANAGEMENT
    • Strategic Management
    • Technology Management
    The Invention of the Shopping Cart and Its Psychological Impact on Consumer Behaviour

    The Invention of the Shopping Cart and Its Psychological Impact on Consumer Behaviour

    Organizational structures  shape company’s value creation

    Organizational structures  shape company’s value creation

    What is Asset Specificity?

    What is Asset Specificity?

    Do you know who Owns Corporations?

    Do you know who Owns Corporations?

    Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

    Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

    What are Treasury Bills?

    What are Treasury Bills?

    What is SERVQUAL Model?

    What is SERVQUAL Model?

    What is Olfactory Marketing?

    What is Olfactory Marketing?

    “It all Starts with Nescafe”

    “It all Starts with Nescafe”

    Trending Tags

    • Higher Education
      Educational Leaders who fought for women’s education did not seek validations from society

      Educational Leaders who fought for women’s education did not seek validations from society

      Experiential learning is the future

      Experiential learning is the future

      How to write an appropriate title 

      How to write an appropriate title 

      Can India regain the title of Vishwaguru?

      Can India regain the title of Vishwaguru?

      What are the problems faced in online lectures?

      What impact can Knowledge have on Society?

      A Big Salute all our teachers!!!

      What is Triple Helix Model for innovation?

      Where in the world teachers are most respected?

      Trending Tags

      • Research

        Importance of Citation in Research

        What is Autoethnography style of PhD

        Can scholarly articles/papers from blogs be cited in research work?

        The complete guide on how to select the right PhD topic

        All you wanted to know out how a PhD thesis is assessed?

        Mixed Method Research is Most Suitable

        What is the difference between economic bubble and economic boom?

        How to write a Research Paper?

        Case Study is one of vital type of research

        Trending Tags

        • News
          • All
          • Current Affairs
          • Political affairs
          American Hegemony is at critical juncture 

          American Hegemony is at critical juncture 

          Impact of the Thucydides Trap and Clash of Civilization  on International Businesses

          Impact of the Thucydides Trap and Clash of Civilization  on International Businesses

          Launch of my book  titled “International Business”

          Launch of my book titled “International Business”

          Gift City is becoming India’s Capital Gateway

          Gift City is becoming India’s Capital Gateway

          The science of Psephology

          The science of Psephology

          What is the Future of BRICS Currency?

          What is the Future of BRICS Currency?

          Ram Mandir tableau graced the 75th Republic Day of India

          Ram Mandir tableau graced the 75th Republic Day of India

          The rise of  India as a Religious Tourism Destination

          The rise of India as a Religious Tourism Destination

          Why should our history be re-written?

          Why should our history be re-written?

          Trending Tags

          • General
            • All
            • Economics
            • Food & Cooking
            • Gardening
            • Health & Wellness
            • Heritage
            • Leadership
            • Literary
            • Movies & Music
            • People and Trends
            • Philosophy
            • Plants and Greenery
            • Psychology
            • Real Heroes
            • Spirituality & Meditation
            • Travel & Tourism
            Manthan – The Movie about India’s Dairy Cooperative Movement  

            Manthan – The Movie about India’s Dairy Cooperative Movement  

            Guiding 35 PhDs: A Journey of Mentorship, Transformation and Academic Fulfilment

            Guiding 35 PhDs: A Journey of Mentorship, Transformation and Academic Fulfilment

            The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

            The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

            Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

            Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

            The story behind the Swedish word Lagom which means Just Enough

            The story behind the Swedish word Lagom which means Just Enough

            Lasting friendship between R.K.Narayan and Graham Green that shaped the famous film novel ‘The Guide’

            Lasting friendship between R.K.Narayan and Graham Green that shaped the famous film novel ‘The Guide’

            Mumbai’s Historic Single Cinema Screen Maintains Brand Loyalty of Marathi Cinema Viewers 

            Why Memories are a fuel of our life

            Why Memories are a fuel of our life

            Just how Michelin Brothers’s Marketing Strategy for their Tire Business Transformed Restaurant Industry 

            Just how Michelin Brothers’s Marketing Strategy for their Tire Business Transformed Restaurant Industry 

            Trending Tags

            No Result
            View All Result
            • Home
            • About Us
            • Management
              • All
              • Brand Management
              • BUSINESS ETHICS
              • Business Management
              • CORPORATE GOVERRNANCE
              • Economics
              • Financial Management
              • General Management
              • Human Resources Management
              • Information Technology Management
              • International Business
              • Marketing Management
              • Operations Management
              • PROJECT MANAGEMENT
              • Strategic Management
              • Technology Management
              The Invention of the Shopping Cart and Its Psychological Impact on Consumer Behaviour

              The Invention of the Shopping Cart and Its Psychological Impact on Consumer Behaviour

              Organizational structures  shape company’s value creation

              Organizational structures  shape company’s value creation

              What is Asset Specificity?

              What is Asset Specificity?

              Do you know who Owns Corporations?

              Do you know who Owns Corporations?

              Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

              Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

              What are Treasury Bills?

              What are Treasury Bills?

              What is SERVQUAL Model?

              What is SERVQUAL Model?

              What is Olfactory Marketing?

              What is Olfactory Marketing?

              “It all Starts with Nescafe”

              “It all Starts with Nescafe”

              Trending Tags

              • Higher Education
                Educational Leaders who fought for women’s education did not seek validations from society

                Educational Leaders who fought for women’s education did not seek validations from society

                Experiential learning is the future

                Experiential learning is the future

                How to write an appropriate title 

                How to write an appropriate title 

                Can India regain the title of Vishwaguru?

                Can India regain the title of Vishwaguru?

                What are the problems faced in online lectures?

                What impact can Knowledge have on Society?

                A Big Salute all our teachers!!!

                What is Triple Helix Model for innovation?

                Where in the world teachers are most respected?

                Trending Tags

                • Research

                  Importance of Citation in Research

                  What is Autoethnography style of PhD

                  Can scholarly articles/papers from blogs be cited in research work?

                  The complete guide on how to select the right PhD topic

                  All you wanted to know out how a PhD thesis is assessed?

                  Mixed Method Research is Most Suitable

                  What is the difference between economic bubble and economic boom?

                  How to write a Research Paper?

                  Case Study is one of vital type of research

                  Trending Tags

                  • News
                    • All
                    • Current Affairs
                    • Political affairs
                    American Hegemony is at critical juncture 

                    American Hegemony is at critical juncture 

                    Impact of the Thucydides Trap and Clash of Civilization  on International Businesses

                    Impact of the Thucydides Trap and Clash of Civilization  on International Businesses

                    Launch of my book  titled “International Business”

                    Launch of my book titled “International Business”

                    Gift City is becoming India’s Capital Gateway

                    Gift City is becoming India’s Capital Gateway

                    The science of Psephology

                    The science of Psephology

                    What is the Future of BRICS Currency?

                    What is the Future of BRICS Currency?

                    Ram Mandir tableau graced the 75th Republic Day of India

                    Ram Mandir tableau graced the 75th Republic Day of India

                    The rise of  India as a Religious Tourism Destination

                    The rise of India as a Religious Tourism Destination

                    Why should our history be re-written?

                    Why should our history be re-written?

                    Trending Tags

                    • General
                      • All
                      • Economics
                      • Food & Cooking
                      • Gardening
                      • Health & Wellness
                      • Heritage
                      • Leadership
                      • Literary
                      • Movies & Music
                      • People and Trends
                      • Philosophy
                      • Plants and Greenery
                      • Psychology
                      • Real Heroes
                      • Spirituality & Meditation
                      • Travel & Tourism
                      Manthan – The Movie about India’s Dairy Cooperative Movement  

                      Manthan – The Movie about India’s Dairy Cooperative Movement  

                      Guiding 35 PhDs: A Journey of Mentorship, Transformation and Academic Fulfilment

                      Guiding 35 PhDs: A Journey of Mentorship, Transformation and Academic Fulfilment

                      The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

                      The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

                      Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

                      Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

                      The story behind the Swedish word Lagom which means Just Enough

                      The story behind the Swedish word Lagom which means Just Enough

                      Lasting friendship between R.K.Narayan and Graham Green that shaped the famous film novel ‘The Guide’

                      Lasting friendship between R.K.Narayan and Graham Green that shaped the famous film novel ‘The Guide’

                      Mumbai’s Historic Single Cinema Screen Maintains Brand Loyalty of Marathi Cinema Viewers 

                      Why Memories are a fuel of our life

                      Why Memories are a fuel of our life

                      Just how Michelin Brothers’s Marketing Strategy for their Tire Business Transformed Restaurant Industry 

                      Just how Michelin Brothers’s Marketing Strategy for their Tire Business Transformed Restaurant Industry 

                      Trending Tags

                      No Result
                      View All Result
                      Dr. Vidya Hattangadi
                      No Result
                      View All Result
                      Home Management

                      Strategic Intent is a powerful tool in providing direction

                      Dr Vidya Hattangadi by Dr Vidya Hattangadi
                      September 26, 2022
                      in Management, Strategic Management
                      0
                      0
                      SHARES
                      321
                      VIEWS
                      Share on FacebookShare on TwitterShare On Whatsapp

                      Intent means intention, aim purpose, objectives, target, goal etc. Strategic intent is a statement of the course that the management of an organization plans to take the enterprise in the future. The strategic intent must be clear and crisp which should be grasped by everybody in the organization and by its all stakeholders. When maximum people understand the intention, all of them can work consistently to achieve the corporate purpose.

                      The strategic management process begins with a challenging vision that stretches the organization further than and beyond its capabilities. Creating and implementing the strategic intent sequence is: defining a pragmatic vision, interpret it into a meaningful mission, specifying goals and objectives in achieving it. The next step is to then create and communicate the intent all levels of the organization, making strategic plans and actions for achieving the intent. The strategic intent of an organization describes how the firm’s energy and resources will be channeled into a focused and unified overall goal (Hamel & Prahalad, 1989). The intent directs overall strategic direction and destiny to be pursued by the company.

                      The success stories of companies such as Toyota, Canon, Apple, GE, Tata Motors, Mahindra & Mahindra, ITC and Komatsu share an underlying theme: all have embraced bold ambitions beyond the limits of existing capabilities and resources. They have aimed for global leadership and created systems, processes and values for their products.  Komatsu wanted to outperform Caterpillar, Canon sought to beat Xerox and Honda wanted to become an automotive pioneer like Ford. The concept of strategic intent holds important lessons for small businesses aiming to grow and succeed. Strategic intent should be clearer through the organization’s vision and missions statements; statements of intent need to be unambiguous than the usual directional statements. Most mission and vision statements point the way forward only in general terms. Sharp statements of intent can provide more clarity about what to do in the near future to achieve the vision and mission. These statements convey the flavor of the strategic decisions taken through the planning process.

                      The vision statement of Facebook is “To give people the power to share and make the world more open and connected.” Their mission to give people the power to share and to make the world more open and connected is so apt. Facebook has given people a voice to share what matters to them; people share their views, their ideas, their personal life stories, photos, opinions on various topics. Because of facebook people can share and connect, thus the society has made progress; people have been able to connect with their childhood friends, school friends because of which relationships grew stronger, more jobs and businesses are created and governments can reflect on people’s problems and people’s values. When we have better tools for sharing, we have more voice. There is strength in unity, and that’s what facebook has done. It lives its strategic intent aptly.

                      Vision is a declaration of an organization’s general direction of journey; strategies let you know that you need to take specific things with you to complete the journey, and indicates key points along the way. Gary Hamel and C.K. Prahalad in their book ‘Competing for the Future’ highlight importance of intent statement because intent enables a strong sense of direction. It provides a clearer focus for finding opportunities in and around the organization and it improves commitment to achieve the implied fortune.

                      Using the term World-class in an intent statement: Consider the classic vision of becoming ‘world-class’. What does could ‘world-class’ possibly mean in any specific enterprise? How can this be interpreted into terms that help those carrying out the actual day-to-day work of the organization?

                      An organization which uses ‘world-class’ notion in its intent statement (vision or mission) it  needs to compare itself with in its performance with peers on the world stage. For a business, achieving ‘world-class’ might mean being in the top 10% on competitive metrics. Initially the corporate intent may mean lifting the firm from its present position as a middle ranking outfit into the top 20%. If this is not achieved, the term ‘world-class’ makes it a vague aspiration of the organization. To be ‘world-class’ an organization must be energetic in terms of competition, product quality, pricing strategies, supply chain, processes, culture and of course best people in team.

                      Companies that have climbed in global competition, and are counted among the global leadership over the past 20 years habitually began with ambitions that were out of all proportion to their resources and capabilities. But they created an obsession with winning at all levels of the organization and then sustained that obsession over the 10- to 20-year quest for global leadership. This passion is called “strategic intent.” The concept encompasses an active management process that includes focusing the organization’s attention on the essence of winning, motivating people by communicating the value of the target, leaving room for individual and team contributions, sustaining enthusiasm by providing new operational definitions as circumstances change, and using intent consistently to guide resource allocations.

                      Strategic intent needs to be stable in terms of time: In battles for global leadership price wars, market wars are one of the most critical tasks. But, this is to lengthen the organization’s attention span. Strategic intent provides consistency to short-term action, while leaving room for reinterpretation as new opportunities emerge. Strategic intent sets a target that deserves personal effort and commitment.

                      Pfizer’s vision statement is “To become the world’s most valued company to patients, customers, colleagues, investors, business partners and the communities where we work and live.” The company believes that every patient has a story and they should work hard to change it on a positive note, this philosophy is at the core of the company and each employee works hard to try and change the ending, they put the philosophy at the heart of everything they do. The company believes that patients deserve the best medicines and should have a right to choose how they are treated, in partnership with their doctor or healthcare specialist. That is why Pfizer invests a lot of time in talking with patient groups, governments and healthcare providers to ensure patients have access to the medicines which they need the most. Pfizer invests a lot in R&D, because they have revolutionized the way diseases are managed, saving money and improving quality of life.

                      So friends, strategic intent provides a sense of direction, it provides a bird’s eye view of the future about the long-term market or competitive position the organization hopes to develop and occupy. It can provide a sense of discovery to the workers, in adopting their best practices and avoiding snags or dangers as far as possible. Strategic intent provides a sense of destiny, valuable goals around which people, resources, and budgets can be focused across the organization.

                      Tags: ‘Competing for the Future’Gary Hammel & C.K. Prahalad.mission statementobjectives and goalsStrategic intentvision statement
                      Previous Post

                      Bitcoin – What is crypto currency?

                      Next Post

                      Basic financial terms that a businessman must know

                      Dr Vidya Hattangadi

                      Dr Vidya Hattangadi

                      Dr. Vidya Hattangadi is an accomplished academician, researcher, and thought leader with over four decades of combined experience 20 years in managerial roles in industry and 24 years in management education. She holds a PhD in Marketing Management from Savitribai Phule Pune University and a D.Litt. from the University of Mumbai for her post-doctoral published work. She is a prolific writer and blogger, Dr. Hattangadi runs the widely read blog www.drvidyahattangadi.com, which enjoys strong organic traffic and engages readers across a broad spectrum of subjects, including management, leadership, psychology, social trends, music, current affairs, and politics and psychology. Her blog is 12 years old. Her experience of combining knowledge of industry work with an academic background creates a powerful, "pracademic" profile that bridges the gap between theoretical knowledge and practical application. This hybrid approach has made her a powerful Professor in the classrooms and she has produced graduates who are not just knowledgeable, but industry-ready. She worked for Maratha Mandir’s Babasaheb Gawde Institute of Management Studies as Director, Research Head and Professor. She has written a fortnightly column for The Financial Express from 2017 to 2021 and has contributed extensively to leading publications such as The Hindu, Free Press Journal, and The Economic Times. Her articles are known for their analytical depth, clarity, and relevance to contemporary issues. Dr. Hattangadi has successfully guided 35 PhD scholars in Management Studies across institutions such as the University of Mumbai, SNDT Women’s University, and Yashwantrao Chavan Maharashtra Open University (YCMOU) and Guglielmo Unimarconi Italian University. Currently, she is working on her YouTube channel "Vidya's Vidya" mentoring doctoral researchers in the areas of Finance, Strategic Management, Organizational Behaviour, Human Resource Management, and Marketing Management. She is an accomplished author, she has written books on Strategic Management, Buyer Behaviour, International Business and Entrepreneurship Management, Faith Economy, contributed chapters to four edited volumes of books, and published over 350 research papers in national and international journals. Her scholarly work has strong visibility and impact, reflected in her robust presence on Google Scholar, Research Gate, Vidwan etc. Her research in all fields of management studies is truly ground-breaking. The rigor and depth of her knowledge have set a new standard in our field of management studies.

                      Next Post

                      Basic financial terms that a businessman must know

                      Please login to join discussion

                      © Copyright 2022 Dr. Vidya Hattangadi. All Rights Reserved.

                      No Result
                      View All Result
                      • Home
                      • Management
                        • Brand Management
                        • BUSINESS ETHICS
                        • Financial Management
                        • General Management
                        • Human Resources Management
                        • Information Technology Management
                        • Marketing Management
                        • Operations Management
                        • Real heros
                        • Strategic Management
                      • HIGHER EDUCATION
                      • Research
                      • News
                        • Current Affairs
                        • Political affairs
                      • GENERAL
                        • Food & Cooking
                        • Gardening
                        • Health & Wellness
                        • Heritage
                        • Leadership
                        • Literary
                        • Movies & Music
                        • People and Trends
                        • Plants and Greenery
                        • Psychology
                        • Real Heroes
                        • Spirituality & Meditation
                        • Travel & Tourism

                      © Copyright 2022 Dr. Vidya Hattangadi. All Rights Reserved.