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Models in Managing Performance

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Added on  2020-01-07

Models in Managing Performance

   Added on 2020-01-07

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Four Different Models
Models in Managing Performance_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................11: Mission, Vision, Values...........................................................................................................12: OODA – whole and each component......................................................................................23: “Good strategy” (animation vs. orientation)............................................................................34: Cognitive biases applied to strategy........................................................................................4Conclusion.......................................................................................................................................5References........................................................................................................................................6
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INTRODUCTIONEvery organization needs to select appropriate strategies for running business operationsand managing performance in effective manner. There are different types of models which canbe used by companies for selecting appropriate strategies but the use of these models are basedon goals and objectives of the firm. The current research project is based on four basic modelswhich play important role in managing overall performance of the company. In which, onespecific model is based on mission, vision and values of the company. Along with this, it willalso focus on OODA approach of the business management (Shepherd, Woods and Marchisio,2013). Including this, result will describe a good strategy for organization. Description aboutcognitive biases applied to strategy are also describing in the following paragraphs of the report.For conducting investigation in specific manner author has been chosen Marks and Spencerwhich is one of the leading organization of retail industry of UK. 1: Mission, Vision, ValuesOrganization develop strategies for a specific purpose. Management committee of theorganization is accountable for establishing and protecting purpose, fundamental values andethical principles of Marks and Spencer. Mission, vision and values are generally developed forincorporating group strategic plan and action plan (Sherry and Mauro, 2015). MissionAs per this model mission can be defined as a statement which helps in determining theactual business and key purpose of the organisation. Mission of the Marks and Spencer is tomake inspirational quality accessible to others. Along with this, it mission is providing newquality goods and services in different sectors such as cloth, food, home and financial services.Delivering high quality goods is also considered as mission of M&S. Along with this, Marks andSpencer wants to offer affordable price for customers which can provide appropriate worth totheir purchase money (Ma, Zhang and Zhou, 2014). Therefore, offering good value to customer’smoney is also considered as mission o Marks and Spencer. VisionVision statement of the organization gives a sense of the future and helps in makingappropriate decisions and strategies. It also plays very important role in creating platform withthe same purpose and develop a guideline for the whole operations. Vision of the organization is1 | P a g e
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