This is 2021, not 1931. The way people manage businesses and marriages has changed.
- What can we learn from different management strategies?
‘Classic Western’ approach to strategy started in the 1950s and 1960s when the general management focus mainly on the role of the leader who was making decisions and generating new ideas. It is best characterized by the top-down approach – the management was responsible for making decisions. A key trait is all decisions could be executed quickly.
An example of the ‘Classic Western’ approach is COVID-19 control is all about decisions made by the top.
Alternative strategic approaches are developed to support human as well as material processes, all of which follow the main direction toward hitting goals. These approaches include technology, integration, support, financial capital allocation, and merging & partnership. Alternative strategic approaches focus on building a team and the growing process. In this way, the team can feel very motivated.
A typical alternative strategic approach is characterized by the bottom-to-up approach, i.e., not all decisions are made by senior management; instead, most decisions are made by the whole group. An example of alternative strategic approaches is everybody is involved in the decision-making process of the New York Times policy.
From this perspective, it can be seen that you can encourage your Russian lady to contribute to your life because she is able to help you improve. When an inclusive approach is implemented, harmony in a marriage can be achieved. 😊
- What do you need to measure in a marriage?
Before I answer this question, let’s have a look at the rationale below:
Share market data may be a very useful tool in analyzing organizations as well as their environments because this data offers appropriate planning that includes product and service positioning which helps to develop internal strategies, thereby managing strengths & weaknesses. That includes organizational positioning that manages resources & keeps things updated as well, thereby allowing the organization to offer services more effectively. It offers the data regarding the total return of all shareholders and balances various approaches among strategy design, processes, people and finances. It gives the overall key data & determines the blueprint of an organization’s position on the market. Furthermore, it also manages internal strategies as well as external strategies. Actually, it reveals insights into the organization’s past, current and future expectations that may influence the stock price, e.g., market cap, profit & loss, return on equity, and so forth. It gives knowledge and key information about finances, processes and customers, thereby increasing the demand, etc.
Internal environments and external environments of strategy & management are the most important environments currently. In the internal environment, SWOT analysis clarifies strengths and weaknesses that assess the internal processes of an organization, thereby helping to reduce the possibility of failure and making the best decisions effectively. Moreover, different strategies can help the organization stand out from the crowd in the increasingly stiff competition. 7s McKinsey is a tool which could be used by the organization with 7 key internal elements – system, structure, staff, style, skills, strategies and shared values. More specifically, system, structure and strategies tend to have a soft approach within this model; shared values, style, skills and staff tend to have a hard approach that finalizes the entire model. This helps the organization to develop new strategies and may facilitate partnerships and merging in future. In the external environments, Porter’s model is obviously one of the key external environments of strategy & management. This model identifies barriers to entry, suppliers, buyers as well as substitutes that affect the industry; it also defines the degree of competition. This model indicates the competition on the market as well as threats of new entrants, i.e., the threats for the organization – that is apparently an external factor. A key external factor is the macro-environment strategy, i.e., PESTEL. This influences the organization from technological, economic, environmental, political and sociocultural perspectives. This shows the ease and the complexity of doing business with a highly competitive market approach that involves an international perspective as well.
The reason I include the above rationale is because managing a marriage is a bit like running a company – you need some management skills and you have to know the data that you should track or measure!
How often do you have a date night?
How frequently do you travel together?
When do you sit down and manage your finances together?
How do you handle conflicts?
Do you have answers to the above-mentioned questions?
“Clarity helps you enjoy a happy marriage with a Russian lady.”