I need a response to the below Statement:
From my experience, the most challenging aspect of strategic planning is stakeholder investment. In my organization we implemented drastic change copying a strategic plan from our competitor. As Daft (2013) explains, strategic thinking takes a long-term view and executes strategies that will be a fit between the organization and its environment. This change was quick and negatively impacted employees and customers considerably. From a shareholder perspective, it was a success as stock prices soared. Long-term results have yet to be felt. A study conducted by Naslund and Williamson (2020) determined the strategy used can completely change an industry. It is a top-down method heavily dependent on lay-offs to reduce costs. It is mostly focused on profitability and shareholder value. Based on the strategic plan that was implemented, short-term gains were the goal. Perhaps implementing a varying strategy that would slowly alter the organization in a greater amount of time would have been more ideal.
Daft, R. L. (2013). Management (11th ed.). Mason, OH: South-Western, Cengage Learning.
Naslund, D., & Williamson, S. (2020). A critical analysis of organizational transformation – PSR. International Journal of Quality and Service Sciences, 12(2), 187-200. doi:http://dx.doi.org.lopes.idm.oclc.org/10.1108/IJQSS-11-2018-0092
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