The reality is that leaders must, on the spur of the moment, be able to react rapidly and grasp

opportunities. Ultimately, therefore, I think that the best process to reduce the risk of bad decisions
whatever series of tests, hurdles, and measuring sticks one applies should be quick, flexible, and
largely informal. It's important to experiment, to be open to intuition, and to listen to flashes of
inspiration. This is not to say the process shouldn't be rigorous: run the analyses, suck up all the data,
and include some formal processes as well. But don't ask hundreds of people. Carefully sound out the
relevant constituencies-clients, suppliers, competitors and try to find someone you trust who has no
agenda about the issue at hand.
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It notes that selling everything to everybody is a common error wherein business owners forgot to
focus on their target market. It adds that forgetting the importance of continued marketing is not
advisable and that time commitment really pays off.
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Long-term success in meeting that imperative requires developing new strategy-making capabilities.
During the early 1990s, many multibusiness companies focused on improving profitability through
operational integration. They reengineered, focusing on the capabilities that would improve speed,
quality and efficiency and pruning business activities that no longer fit the value-creation logic of
the corporate strategy.
Today leaders of multibusiness corporations are learning to identify the inaxiInimi'Strategic-opportunity
set those opportunities that can let companies take the fullest advantage of their capabilities and
their potential to pursue new strategies
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The business world is innovative, frequently experimenting with new structures and relationships.
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Top management's task is to develop a strategy-making process that can balance the challenges associated with exploiting existing
and new opportunities simultaneously. Corporate leaders must make an explicit commitment to articulating a corporate strategy that
facilitates exploring and exploiting the maximum feasible strategic opportunities. Understanding the importance of both reach and
scope, they must make sure that managers understand that their chances for increasingly senior positions depend on their
demonstrated ability to bring complex-strategic-integration initiatives to successful completion.

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Environmental scanning is a systematic effort to obtain information about the world

that will affect an organization. Scanning is important in managing change and
avoiding costly mistakes.
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According to a survey of recruiters, failure to establish strategic priorities is the most common mistake made by senior executives
within their first 100 days. Other mistakes identified by recruiters include the committing of cultural faux pas or political suicide,
waiting too long to implement change, and not giving enough face time to subordinates.

There is tremendous pressure for new CEOs and other senior-ievei executives to sift
through a muititude of issues, agendas and opinions," said Joe Griesedieck, vice
chairman of Korn/Ferry. "The most successfui executives cut through the ciutter,
isoiate their strategic priorities eariy and piot a course of action to set them in
motion.
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The lack of a well-written mission statement is hypothesized as one of the foremost contributors to business failures.

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Beyond determining whether procedures can be manipulated, the real goal for any analysis of "strategic behavior" is to identify all
settings where and when this can be done, who can do it, and what they should do.

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Entrepreneur's primary objective is to firmly established itself, maximize profit and minimize maintenance cost of its low-cost best
quality products that will generate high demand while maintaining a continuous focus on cost-containment and operating
efficiencies. This objective can only be achieved if the products' quality meets standard demand of end users. Many approaches to
quality control are not effective. Nonconformities in the factory testing are caused basically by excessive process variation and
mistakes. Some approaches to quality control can effectively control process variation, but it cannot prevent most mistakes because
mistakes are frequently the dominant source of nonconformities. Since maintenance cost of any product is inversely proportional to
its quality;hence, the quality and maintenance of any products cannot be over emphasized to attract their high demand. Experience
shows many industrial activities collapsed when they were expected to be at the peak of their production performances and
theoutcome effect is that, they start to run at a huge loss when they were expected to make profit. Investments on structures will
have impact on industrialization when the trend leading to this collapse could be reversed in order to enjoy the full benefits derived
from it. Meanwhile, the only strategic approach to minimize maintenance cost is to maximize the quality.

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