Why is it critical for company managers to have a clear strategic vision regarding their organization?

It is quite critical for managers to have a clear and precise strategic vision concerning their firm. It is due to the fact that having such a vision allows managers to indicate a clear path to workers and stakeholders with respect to the direction of organization. In addition to it, having a clear vision for the firm allows managers to specify a path which raises the success chances of a firm on a sustainable basis. It also enables managers to motivate and inspire employees. When employees are sufficiently inspired, it increases their productivity and efficiency which profits the firm. This scenario will benefit all associated stakeholders and will lead to the effective creation of value (Rothaermel, 2017).

Having a clear and precise strategic vision with respect to the organization offers a reality check for all the managers. Hence, they become capable of accomplishing their strategic objectives while ensuring their operational plans are aligned with the vision of organization in a synchronized manner for ensuring that both objectives and goals of the firm are achieved in a proper and systematic manner. If managers do not have a clear strategic vision, it might cause managers to lead the personnel in a direction which is not required by and profitable to the organization. It can cause a significant loss of time and money for the firm. Therefore, it is critical for company managers to have a clear and precise strategic vision about their organization (David & David, 2013).

Secondary Posting

You have done a great job in explaining why company managers need to have a precise and clear strategic vision with respect to the organization. You are right when you say that a clear strategic mission is very important when it comes to the implementation of different strategies and policies within the firm. It is true that if managers do not have an idea about the strategic vision, they will be unable to make proper decisions for meeting the expected performance standards. A precise strategic vision is just as vital as many other organizational assets which help an organization in being efficient and effective in the market. As I have explained in my own answer, if managers don’t have a clear strategic vision, it will not be possible for managers to plan in an accurate manner and meet the requirements. In fact, without this vision, it is highly possible that managers might implement strategies which do not produce the required results.

I agree with you that strategic vision has to be clear for managers to be successful in their endeavours. If they want to accomplish their outcomes in an efficient manner, they must plan about strategies and different programmes in the light of strategic vision. If they are unaware of the strategic vision or do not have the necessary clarity, it will not be possible for them to plan and produce what is needed. It is true that strategic vision is similar to a road. If it is not clear, it is possible that a person might not reach his destination.

What are the key factors for competitive success and why?

            In general, key factors for competitive success are the factors which offer the capabilities to an organization to differentiate their products and services. Such type of factors helps a firm in strengthening its strategy of manufacturing, technology, and innovation for serving the customers in a more effective manner. These factors also allow a firm to provide customers with the benefits which serve to increase their satisfaction such as cost-effectiveness, unique products, and better customer support. Some organizations have a diverse range of products to provide4 to customers. This plays an important role in gaining the attention of customers and providing them with enough varieties of products to choose from that they do not have to visit or consider any other organization. Some of the key factors for competitive success in the market are the interests of stakeholders, the needs of customers, and market trends (Namada, 2018).

            When these key factors are considered and decisions are made in accordance with them, it becomes easier for an organization to understand should be done to gain the attention of customers and benefit from it. Meanwhile, if these key factors for competitive success are not considered, it causes an organization to lose its focus and direction in the implementation of strategies which are meant to target customers. Such factors are considered key factors because considering them allows a firm to customize and change its strategies in such a manner that their effectiveness is increases and customers are targeted in a more efficient manner. Key factors for competitive success are critical to consider or else, it can cause the firm to lose its position in the market (Reeves & Deimler, 2012).

Secondary Posting

            It is true that key factors for competitive success are considered very important for an organization. You are right when you say that key factors for competitive success ensure that a firm gains a competitive advantage in the market and is effective in gaining the attention of customers and selling the products or services. As I have explained in my own answer, competitive success depends on some specific factors like needs of customers and changing trends in the market. If these factors are not considered, it becomes impossible for a firm to modify its strategies and plans in such a manner that customers are targeted in a more unique manner in comparison with other competitors. Meanwhile, when key factors for competitive success are considered, the approach towards customers is customized and its services are made unique from others. You are right when you say that an organization must rely on these factors to achieve effectiveness in its target market.

            Actually, there are a number of factors which are capable of influencing the approach of a firm towards its customers and its effectiveness in a certain market. When these factors are considered, the likelihood of success is increased while if they are not considered, they raise the chances of inefficiency in the market. One of the most important factors is the threat of substitutes in a specific target. If this factor is not considered, it might cause an organization to produce a product which is already available in the market and has a number of substitutes. This will cause the firm to suffer from losses.

Consider the potential conflict between corporate social responsibility and ethics while maximizing shareholder wealth.  How does exercising Christian principles play a part in running a successful business while operating within state and federal regulations?

In recent times, organizations have begun to focus significantly on the amount of resources which are allocated to CSR or corporate social responsibility activities. This increase in the expenditure of CSR might be consistent with value maximization if it is a response to different changes in the preferences of stakeholders. Meanwhile, ethics is associated with the internal values which are a part of corporate culture and responsible for shaping decisions about social responsibility. In general, civil law and government are grounded unavoidably in ethics by which wrong and right is determined. Ethics, by definition, is grounded in ultimate reality. In addition to it, ultimate reality is religious, in spite of the fact that Christians and secularists might try to avoid this issue. As a religious subject, law and government must be prescribed and defined by God Himself. This is the conflict that exists between CSR and ethics as ethics being a religious concept cannot be aligned with CSR (Lindgreen & Swaen, 2012).

Christian principles seem to play a role in running a successful business, however, it is also important to understand that federal regulations can force a person to go against the religion. If the perspective of religion is incorporated into a business then it cannot be run effectively. For instance, in Christian principles, people should consider others before their own benefit. This eliminates the concept of generating sales through business. Thus, exercising other Christian principles like not doing bribery can benefit the firm while some others cannot (George, 2011)

Secondary Posting

            It is true that corporate social responsibility and ethics are interconnected with each other. Their significance is undeniable within an organization. It wouldn’t be wrong to say that if corporate social responsibility is not considered important, an organization would not be capable of building trust among its customers. Similar to corporate social responsibility, ethics also play an important role within a firm. Its sustainable culture depends on the role which is being played by ethics in the workplace. If there are no ethics in the organization, it would stop to be effective and successful. In fact, the organization would stop producing the required results. You are right when you indicate that one of the major issues or conflicts between ethics and corporate social responsibility exists in the fact that either corporate social responsibility can be followed or ethics in its purest form.

As I have explained in my own answer, ethics is connected with religion its true sense and Christianity imply that when it comes to the benefit of others, the person should forsake his own benefit. It can serve to enhance the wealth of stakeholders but it can cause the firm to lose its profits and efficiency within the market. There are many Christian laws which don’t coincide with the rules and policies of a business. For instance, religious principles require people to care about others before they seek their own benefit which is not possible within a business. However, it doesn’t mean that some other principles such as not bribing don’t positively contribute to the success of a firm.

What are some of the unique strategic challenges that Christian Universities are facing?

There are a number of strategic challenges which are faced by Christian Universities. One of the most important strategic challenges is increasing competition. Considering the fact that there is a significant need of education among Christian people, it has caused both public and private universities to provide education. Since these institutes function as organizations, they have to build a strong image among the students to ensure that they are attracted to the university and do not consider any other institute for gaining education. Thus, they have to create and implement different strategies for gaining success in the market and attracting students. Another important challenge is to keep up with the changing innovation and expectations of students. In order to meet the expectations of students, it is important to invest a huge sum of money in different projects (Etzkowitz & Zhou, 2017).

In order to fund different projects, Christian universities have two options. The first option is to raise funds and invest that amount while the second option is to increase the fees and invest that money in the projects. Choosing the right options is not less than a strategic challenge because raising funds is not an easy task while increasing fees can cause students to consider other institutes for gaining education. The last strategic challenge is to make the institute cost-effective for students. Because of surveys, it has become evident that students complain about the high fees of Christian universities. Reducing these fees for students is also a strategic challenge which has to be overcome by Christian universities (Christensen & Eyring, 2011).

Secondary Posting

            You are right when you say that competition is one of the most important and major strategic challenges which are being faced by Christian Universities. Considering the fact that gaining education has become an important task in modern times, a number of Christian institutes provide almost the same services as others. Due to it, an intense competitive is developed. As I have explained in my own answer, institutes are like businesses which compete with each other to attract the majority of customers towards themselves. If they are unable to do so, they suffer from losses. The objective of private education institutes is to gain the maximum number of students and make a strong presence in the market. It means that they have to face their competitors in the market and make themselves unique from them to portray a positive image. This is the major challenge which is being faced by Christian universities.

 It is true that keeping the fees affordable for normal students is also a unique strategic challenge which is faced by Christian universities. In order to compete with others, they need innovation which in turn requires investment. Meanwhile, if they don't make their services affordable, it makes students consider other institutes for gaining education. Finding an accurate balance between these two factors is quite difficult and it can present a tough challenge for universities to overcome. In fact, if these challenges are not overcome by a specific Christian institute, it might cause the institute to lose its investments.

References of Why is it critical for company managers to have a clear strategic vision regarding their organization?

Christensen, C. M., & Eyring, H. J. (2011). The innovative university: Changing the DNA of higher education from the inside out. John Wiley & Sons.

David, F. R., & David, F. R. (2013). Strategic management: Concepts and cases: A competitive advantage approach. Pearson.

Etzkowitz, H., & Zhou, C. (2017). The triple helix: University–industry–government innovation and entrepreneurship. Routledge.

George, R. T. (2011). Business ethics. Pearson Education India.

Lindgreen, A., & Swaen, V. (2012). Corporate social responsibility. International Journal of Management Reviews, 12(1), 1-7.

Namada, J. M. (2018). Organizational learning and competitive advantage. In Handbook of Research on Knowledge Management for Contemporary Business Environments (pp. 86-104). IGI Global.

Reeves, M., & Deimler, M. (2012). Adaptability: The new competitive advantage. Own the Future: 50 Ways to Win from the Boston Consulting Group, 19-26.

Rothaermel, F. T. (2017). Strategic management. McGraw-Hill Education.