Free «Functional Tactics and Corporate or Business Strategies» Essay Paper

Functional tactics describes the major routine activities undertaken in particular functional areas such marketing, management, operations, finance and research and development in order to provide the products and services of any given business (Pearce & Robinson, 2009). Functional tactics differs from corporate and business strategies in four main ways: time horizon, specificity, participant developers, and scope and focus.

Functional tactics have a shorter time horizon and involve activities that are to be accomplished in the present or immediate future. On the hand, corporate or business strategies have longer time horizon and are focused on the position of a firm in 3-5 years out (Pearce & Robinson, 2009). Functional tactics are much more specific as compared to corporate or business strategies and usually involve specific activities in each functional area. The differences between functional tactics, business and corporate strategies also differ in terms of the participants who develop them: according to Pearce & Robinson (2009), different levels of personnel and management officials participate in the strategy development at the corporate or business and functional levels. With respect scope and focus, the focus of functional tactics is concentrated within a particular business. Business strategies cover multiple functional areas and business units (Pearce & Robinson, 2009).  Business strategies also entail both external and internal considerations. 

 

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Policy, Objective, and Functional Tactic in Personal Career Strategy

My career objective is to become a first-class mathematician with an extra keen training as a chartered accountant and to develop my personal skills in audit. Maintaining professional integrity and honesty throughout my career life is my main career policy. My functional tactic is hard work, appropriate research in every field that I am involved in, and being always updated with the most recent job market trends.

Short Term Objectives versus Long Term Objectives

Short term objectives are needed even when the long term objectives are available due to various reasons. To begin with, they provide management with a better understanding of their different roles in the business’s mission. Short term objectives also provide the basis for a firm’s strategic control, providing a clear and measurable basis for the development of business schedules and different mechanism for control and implementation of the business strategy (Pearce & Robinson, 2009). Short term objectives are also significant due to their motivational pay off. They are powerful motivators for the performance of the management especially when the business objectives are interlinked with reward structure of a firm (Pearce & Robinson, 2009).

Question 4 and 5

Lexins, a private management consulting firm, based in Arizona is one of the companies that I have worked for and still uses traditional organization structure. The organization is still characterized by detailed job specialization, hierarchal reporting structure, and subordination of individual interests to the organization’s goals among other forms of traditional structure features.  Lexins organization structure is mainly designed to allow the organization to accomplish its works. This structure is suited to the needs and the strategy of the organization as it is characterized by high level of job specialization, narrow control spans, and centralized authority. One of the most significant benefits of traditional structures to Lexins is the high job specialization. However, certain shortcoming of this form of organization structure is apparent. For instance, this type of organization prevents the promotion of creativity and innovation.

One of the best methods I would recommend or use is the matrix structure which involves the combination of multiple structures (Graubner, 2006). In this structure type, a functional departmentalization may be combined with product departments on a project basis. One of the benefits that will be accrued with this structure is the utilization of highly specialized staff, equipment and shared resources. In addition, it promotes functional expertise and fosters exchange of ideas across various departments (Graubner, 2006).

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Benefit of Outsourcing

Outsourcing has several benefits. Some of the benefits that I have witnessed include cost cutting and improvement of efficiency in an organization. Another significant benefit of outsourcing is availing of expertise and skilled services to the organization as well as supplying the business with the latest trends and ideas in the market (Power,  Desouza, & Bonifazi, 2006.).