Business strategy. Strategies aren't worth the paper they're written Essay

Business strategy. Strategies aren't worth the paper they're written on Discuss - Essay Example According to MacMillan and Tampoe, each business must have a business strategy and, thus, multiple of business enterprises must have a number of strategies (2001, p. 171). Yet, at the same time, the situation implies that there is a need to appropriately define the scope of each business (MacMillan and Tampoe, 2001, p. 171). According to MacMillan and Tampoe (2001, p. 172-173), in addition to the four content pointed out earlier, a business strategy document should also contain the following: 1) a statement of intentions; 2) the principal findings of a strategic assessment covering analyses of the business environment and capabilities of the enterprise; 3) the strategic choices that have been made and the reasons for each strategic choice decision; 4) articulation of goals and objectives; and 5) identification of key initiatives that the enterprise would take. Perhaps, a good indication that the use of strategy is not on the way out is a key document from the United Kingdom’s Her Majesty’s Court Service or HMCS. A 2006 document of Her Majesty’s Court Service or HMCS outlined a â€Å"business strategy†. ... † written in 2006 described what the business organization of the HMCS will be like and articulated a business model, defined priorities, and defined a strategy that covered effective case management, modernisation, simplification of procedures, and ensuring compliance. From the 2006 HMCS document alone, it is clear that the use of business strategy is not on the way out. Organisations such as businesses and government units use business strategy to articulate both to their personnel as well as clients how they intend to conduct their business or how each personnel should behave as they conduct their business. Big business corporations employ strategy. For instance, this fact is indicated in a 2008 document of the Coca-Cola Company. The importance of a business strategy document is highlighted by a statement on the 2008 document of the Coca-Cola Company. The Coca-Cola Company (2008, p. 2) document says, â€Å"Simple ideas backed by constructive action can change the world. As we set out to create a more sustainable world, we begin by imagining what it might look like. Then, in collaboration with our associates and partners around the world, we embark on joint efforts to make that vision a reality. Because nothing important was ever conceived without imagination or accomplished without effort.† Of course, while strategy involves imagination, it is not equal to imagination. It is, at the same time, imagination and a lot more. It involves an assessment of the situation and, as mentioned earlier, the identification of basic choices that must be made and the decisions taken on those choices to steer the enterprise given various types of anticipated scenarios in the future. The Cocal-Cola business strategy or strategy (the word â€Å"business† is written off because

Cyber Security in Business Organizations Case Study - 1

Cyber Security in Business Organizations - Case Study Example However, Target had half a year prior to that installed malware detection systems from the FEYE computer security firm (a very reputable provider with equally renowned clients, such as the Pentagon and the CIA). Target had an expert team at Bangalore to monitor the system securities at all times. In any event of suspicion or malicious activity concerning system security, this monitoring group immediately informs the Minneapolis security operations center. On Saturday 30th November, when the hackers were putting in place the escape route of the data that was to be stolen, installed FEYE system spotted the malicious activity and the Bangalore team conveyed the sensitive information to the Minneapolis group, as was the stipulated protocol. However, the Minneapolis team failed to respond to the red flag from Bangalore, and the theft of over forty million credit card numbers eventually occurred (Riley, Elgin, Lawrence & Matlack, 2014, March 13). The reasons why this warning was not acted upon are not clear at the moment, amidst a plethora of speculation and on-going investigation. I believe the main reasons why the red flag was ignored were chiefly negligence concocted with a lazy hubris from the assumption that the security system that had detected the malware in the first place would inevitably also halt any such attempts on its own. Perhaps they wrongly assumed that the system could not be hacked into as a result of the technology they had in place, confident that such attempts were feeble and futile. This is a recurrent failure of most cyber security personnel (Augastine, 2007). According to the email statement issued by Gregg Steinhafel (the chairman, president and CEO of Target), Target had, in the wake of the hack, performed a thorough review of its employees, technology and processes so that they are better placed to improve their system security and gain valuable lessons from the unpalatable event. This is actively